T. Rowe Price Target 2065 Advisor (PAZLX)

Fund Assets	44.35M
Expense Ratio	0.89%
Min. Investment	$500,000
Turnover	33.70%
Dividend (ttm)	0.15
Dividend Yield	0.86%
Dividend Growth	32.00%
Payout Frequency	Annual
Ex-Dividend Date	Dec 22, 2025

Previous Close	16.89
YTD Return	14.35%
1-Year Return	21.08%
5-Year Return	52.08%
52-Week Low	14.21
52-Week High	17.02
Beta (5Y)	0.88
Holdings	21
Inception Date	Oct 13, 2020

About PAZLX

T. Rowe Price Target 2065 Fund – Advisor Class is a target-date mutual fund designed for investors planning to retire around 2065. It seeks the highest total return over time with an emphasis on both capital growth and income, investing primarily through a diversified lineup of T. Rowe Price stock and bond funds whose allocations shift along a glide path as the target date approaches. Early in the lifecycle, the portfolio maintains a high allocation to equities and real assets to pursue long-term appreciation, incorporating U.S. large-cap, mid-cap, small-cap, and international developed and emerging markets exposures, with a modest allocation to fixed income. Around the target date, the strategy transitions to a more balanced posture and continues to reduce equity exposure for roughly three decades thereafter to support longevity and income needs. The fund’s implementation combines strategic glide-path design with active management and tactical asset allocation across underlying strategies, reflecting T. Rowe Price’s multi-asset research and oversight framework. This structure positions the fund as a comprehensive, single-fund solution for retirement savers seeking professionally managed diversification that evolves over time.

• Fund Family: T. Rowe Price
• Category: Target-Date 2065+
• Performance Rating: Below Average
• Risk Rating: Below Average
• Stock Exchange: NASDAQ
• Ticker Symbol: PAZLX
• Share Class: -advisor Class

Performance

PAZLX had a total return of 21.08% in the past year, including dividends. Since the fund's inception, the average annual return has been 12.75%.

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
RPFDX	-i Class	0.46%

Top 10 Holdings

85.99% of assets

Name	Symbol	Weight
T. Rowe Price Value Z	TRZAX	16.77%
T. Rowe Price Growth Stock Z	TRJZX	16.59%
T. Rowe Price Equity Index 500 Z	n/a	9.33%
T. Rowe Price US Large-Cap Core Z	TRZLX	9.21%
T. Rowe Price International Value Eq Z	TROZX	8.03%
T. Rowe Price Overseas Stock Z	TRZSX	7.20%
T. Rowe Price International Stock Z	TRNZX	6.63%
T. Rowe Price Real Assets Z	n/a	5.57%
T. Rowe Price Mid-Cap Value Z	TRTZX	3.32%
T. Rowe Price Emerging Markets Stock Z	TRGZX	3.32%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 22, 2025	$0.5416	Dec 23, 2025
Dec 23, 2024	$0.2304	Dec 24, 2024
Dec 22, 2023	$0.2673	Dec 26, 2023
Dec 22, 2022	$0.3256	Dec 23, 2022
Dec 22, 2021	$0.351	Dec 23, 2021
Dec 22, 2020	$0.135	Dec 23, 2020

Data Sources: Tiingo, Twelve Data, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Twelve Data. Several fund data points are also provided by Finnhub.

Last checked:

Aug 28, 2026

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