T. Rowe Price Target 2005 I (TFRRX)

Fund Assets	49.02M
Expense Ratio	0.30%
Min. Investment	$500,000
Turnover	30.00%
Dividend (ttm)	0.50
Dividend Yield	4.06%
Dividend Growth	13.24%
Payout Frequency	Annual
Ex-Dividend Date	Dec 22, 2025

Previous Close	12.32
YTD Return	5.66%
1-Year Return	8.96%
5-Year Return	22.30%
52-Week Low	11.50
52-Week High	12.37
Beta (5Y)	0.42
Holdings	26
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.

• Fund Family: T. Rowe Price
• Category: Target-Date 2000-2010
• Performance Rating: Above Average
• Risk Rating: Below Average
• Stock Exchange: NASDAQ
• Ticker Symbol: TFRRX
• Share Class: -i Class
• Index: S&P Target Date Retirement Income TR

Performance

TFRRX had a total return of 8.96% in the past year, including dividends. Since the fund's inception, the average annual return has been 5.90%.

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

76.40% of assets

Name	Symbol	Weight
T. Rowe Price Ltd Dur Infl Focus Bd Z	TRPZX	20.40%
T. Rowe Price New Income Z	TRVZX	19.73%
T. Rowe Price Intl Bd (USD Hdgd) Z	TRMZX	7.47%
T. Rowe Price Value Z	TRZAX	5.22%
T. Rowe Price Growth Stock Z	TRJZX	5.10%
T. Rowe Price Dynamic Global Bond Z	TRDZX	4.53%
T. Rowe Price Emerging Markets Bond Z	TREZX	4.51%
T. Rowe Price High Yield Z	TRKZX	3.40%
T. Rowe Price Hedged Equity Z	PZHEX	3.25%
T. Rowe Price US Large-Cap Core Z	TRZLX	2.79%

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

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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