T. Rowe Price Target 2045 Fund (RPTFX)
| Fund Assets | 458.78M |
| Expense Ratio | 0.60% |
| Min. Investment | $2,500 |
| Turnover | 23.50% |
| Dividend (ttm) | 1.01 |
| Dividend Yield | 5.09% |
| Dividend Growth | 108.67% |
| Payout Frequency | Annual |
| Ex-Dividend Date | Dec 22, 2025 |
| Previous Close | 19.81 |
| YTD Return | 4.25% |
| 1-Year Return | 16.60% |
| 5-Year Return | 40.95% |
| 52-Week Low | 14.76 |
| 52-Week High | 20.04 |
| Beta (5Y) | n/a |
| Holdings | 25 |
| Inception Date | Aug 20, 2013 |
About RPTFX
The T. Rowe Price Target 2045 Fund is a multi-asset, actively managed mutual fund designed to serve individuals planning to retire around the year 2045. Its core purpose is to balance capital growth and income by investing in a broad range of underlying T. Rowe Price stock and bond funds, covering various asset classes and sectors. The fund’s allocation strategy follows a glide path that adjusts its mix of equities and fixed income securities over time: it maintains a higher allocation to equities during the early savings years to prioritize growth, and gradually increases fixed income exposure as the target retirement date approaches, aiming to reduce portfolio risk and support post-retirement income needs. As of June 2025, the fund allocates approximately 84% to equities (including U.S. and international stocks) and about 13% to fixed income holdings, with the remainder in cash. This diversified approach is intended to manage risk across market cycles while seeking to provide long-term total return consistent with an individual’s changing risk profile as they near and transition into retirement. The fund plays a significant role in the retirement planning market, functioning as a "set-it-and-monitor" solution for long-term investors seeking professional asset allocation and ongoing risk management.
Performance
RPTFX had a total return of 16.60% in the past year, including dividends. Since the fund's inception, the average annual return has been 13.36%.
Top 10 Holdings
76.89% of assets| Name | Symbol | Weight |
|---|---|---|
| T. Rowe Price Value Z | TRZAX | 13.33% |
| T. Rowe Price Growth Stock Z | TRJZX | 13.03% |
| T. Rowe Price Equity Index 500 Z | TRHZX | 8.15% |
| T. Rowe Price US Large-Cap Core Z | TRZLX | 7.99% |
| T. Rowe Price International Value Eq Z | TROZX | 7.83% |
| T. Rowe Price Overseas Stock Z | TRZSX | 6.79% |
| T. Rowe Price New Income Z | TRVZX | 5.99% |
| T. Rowe Price International Stock Z | TRNZX | 5.59% |
| T. Rowe Price Real Assets Z | TRZRX | 5.35% |
| T. Rowe Price U.S. Treasury Funds, Inc. - T. Rowe Price U.S. Treasury Money Fund | TRZXX | 2.84% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Dec 22, 2025 | $1.0104 | Dec 23, 2025 |
| Dec 23, 2024 | $0.4842 | Dec 24, 2024 |
| Dec 22, 2023 | $0.4636 | Dec 26, 2023 |
| Dec 22, 2022 | $0.7945 | Dec 23, 2022 |
| Dec 22, 2021 | $0.138 | Dec 23, 2021 |
| Dec 22, 2020 | $0.460 | Dec 23, 2020 |