T. Rowe Price Target 2005 Fund I Class (TFRRX)
| Fund Assets | 49.02M |
| Expense Ratio | 0.30% |
| Min. Investment | $500,000 |
| Turnover | 30.00% |
| Dividend (ttm) | 0.71 |
| Dividend Yield | 6.00% |
| Dividend Growth | 61.70% |
| Payout Frequency | Annual |
| Ex-Dividend Date | Dec 22, 2025 |
| Previous Close | 11.91 |
| YTD Return | 2.23% |
| 1-Year Return | 10.31% |
| 5-Year Return | 18.15% |
| 52-Week Low | 10.27 |
| 52-Week High | 11.93 |
| Beta (5Y) | n/a |
| Holdings | 27 |
| Inception Date | Feb 26, 2016 |
About TFRRX
The T. Rowe Price Target 2005 Fund I Class is a target-date mutual fund designed to balance capital growth and income as investors approach and transition through retirement. Its core function is to seek the highest total return over time by allocating assets across a mix of T. Rowe Price stock and bond funds that span various asset classes and sectors. The fund’s asset allocation evolves along a 'glide path,' which gradually shifts from equities to fixed income as the target date—2005—passes, aiming to reduce market risk and provide stability for retirees. Even after the target date, the fund maintains a significant proportion of equities to sustain potential growth and support an income stream through retirement, rather than preparing for a single lump-sum withdrawal. Notable for its active management approach, low expense ratio, and broad diversification, this fund plays a critical role in retirement planning strategies, particularly as part of a managed payout or income-focused portfolio for those near or slightly past retirement age. The fund’s returns and principal value fluctuate, meaning it does not guarantee a specific income level or principal protection after the target date.
Performance
TFRRX had a total return of 10.31% in the past year, including dividends. Since the fund's inception, the average annual return has been 9.90%.
Other Share Classes
These are alternative share classes of the same fund, from the same provider.
| Symbol | Share Class | Expense Ratio |
|---|---|---|
| PANRX | -advisor Class | 0.70% |
Top 10 Holdings
74.48% of assets| Name | Symbol | Weight |
|---|---|---|
| T. Rowe Price Ltd Dur Infl Focus Bd Z | TRPZX | 19.82% |
| T. Rowe Price New Income Z | TRVZX | 19.30% |
| T. Rowe Price Intl Bd (USD Hdgd) Z | TRMZX | 7.20% |
| T. Rowe Price Growth Stock Z | TRJZX | 4.74% |
| T. Rowe Price Value Z | TRZAX | 4.73% |
| T. Rowe Price Dynamic Global Bond Z | TRDZX | 4.25% |
| T. Rowe Price Emerging Markets Bond Z | TREZX | 4.16% |
| T. Rowe Price High Yield Z | TRKZX | 3.49% |
| T. Rowe Price U.S. Treasury Funds, Inc. - T. Rowe Price U.S. Treasury Money Fund | TRZXX | 3.42% |
| T. Rowe Price Hedged Equity Z | PZHEX | 3.37% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Dec 22, 2025 | $0.7144 | Dec 23, 2025 |
| Dec 23, 2024 | $0.4418 | Dec 24, 2024 |
| Dec 22, 2023 | $0.3584 | Dec 26, 2023 |
| Dec 22, 2022 | $0.9011 | Dec 23, 2022 |
| Dec 22, 2021 | $0.294 | Dec 23, 2021 |
| Dec 22, 2020 | $0.570 | Dec 23, 2020 |