T. Rowe Price Target 2065 I (RPFDX)

Fund Assets	44.35M
Expense Ratio	0.46%
Min. Investment	$500,000
Turnover	33.70%
Dividend (ttm)	0.23
Dividend Yield	1.39%
Dividend Growth	7.23%
Payout Frequency	Annual
Ex-Dividend Date	Dec 22, 2025

Previous Close	16.76
YTD Return	14.64%
1-Year Return	21.64%
5-Year Return	55.39%
52-Week Low	14.08
52-Week High	16.88
Beta (5Y)	n/a
Holdings	21
Inception Date	Oct 13, 2020

About RPFDX

T. Rowe Price Target 2065 Fund - I Class is an actively managed target-date mutual fund designed for investors planning to retire around 2065. It allocates capital across a diversified suite of T. Rowe Price stock and bond funds and gradually adjusts its mix along a predetermined glide path as the retirement date approaches, emphasizing growth in early years and adding income-oriented exposure over time. The fund’s process combines strategic glide‑path design with tactical asset allocation and active security selection implemented through underlying strategies across U.S. large-, mid-, and small-cap equities, international developed and emerging markets, real assets, and fixed income. Around the target date, the neutral equity allocation is designed to remain substantial before tapering further in the decades after retirement to support longevity needs. This I Class share targets institutional investors with a higher minimum investment and a competitive expense profile for the category. Positioned within the Target-Date 2065+ category, it seeks high total return consistent with capital growth and income through a diversified, multi-asset framework overseen by T. Rowe Price’s multi-asset and research teams.

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

Performance

RPFDX had a total return of 21.64% in the past year, including dividends. Since the fund's inception, the average annual return has been 13.24%.

Other Share Classes

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

Symbol	Share Class	Expense Ratio
PAZLX	-advisor Class	0.89%

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	$0.6293	Dec 23, 2025
Dec 23, 2024	$0.3376	Dec 24, 2024
Dec 22, 2023	$0.329	Dec 26, 2023
Dec 22, 2022	$0.3816	Dec 23, 2022
Dec 22, 2021	$0.4377	Dec 23, 2021
Dec 22, 2020	$0.145	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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