T. Rowe Price Retirement Blend 2040 (TRBLX)

Fund Assets	915.43M
Expense Ratio	0.41%
Min. Investment	$500,000
Turnover	17.30%
Dividend (ttm)	0.22
Dividend Yield	1.54%
Dividend Growth	23.26%
Payout Frequency	Annual
Ex-Dividend Date	Dec 19, 2025

Previous Close	14.02
YTD Return	12.97%
1-Year Return	19.74%
5-Year Return	52.71%
52-Week Low	11.95
52-Week High	14.09
Beta (5Y)	n/a
Holdings	24
Inception Date	Jul 26, 2021

About TRBLX

T. Rowe Price Retirement Blend 2040 Fund is a target-date mutual fund designed as a turnkey retirement portfolio for investors planning to retire around 2040. It pursues the highest total return over time with emphasis on both capital growth and income, primarily by investing in a diversified mix of underlying T. Rowe Price equity and fixed income funds. The fund follows a predetermined glide path that gradually shifts its allocation from a higher equity weight toward more fixed income as the target date approaches and continues to become more conservative through retirement, balancing longevity, inflation, and income needs. The portfolio blends active and indexed strategies across U.S. and international stocks, bonds, and real assets, aiming to provide broad market exposure and risk management within a single vehicle. Introduced in 2021, it benchmarks against the S&P Target Date 2040 Index and maintains a relatively low expense profile for its category, reflecting its fund-of-funds structure. This fund serves as a core, professionally managed solution for accumulation before retirement and ongoing withdrawals after retirement, rather than a lump-sum endpoint at the target date.

• Fund Family: T. Rowe Price
• Category: Target-Date 2040
• Performance Rating: Above Average
• Risk Rating: Above Average
• Stock Exchange: NASDAQ
• Ticker Symbol: TRBLX

Performance

TRBLX had a total return of 19.74% in the past year, including dividends. Since the fund's inception, the average annual return has been 9.07%.

Other Share Classes

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

Symbol	Share Class	Expense Ratio
TBLJX	-i Class	0.24%

Top 10 Holdings

80.88% of assets

Name	Symbol	Weight
T. Rowe Price Equity Index 500 Z	TRHZX	24.14%
T. Rowe Price International Equity Index Fund Z Class	TLIEX	13.19%
T. Rowe Price Value Z	TRZAX	10.11%
T. Rowe Price Growth Stock Z	TRJZX	8.95%
T. Rowe Price Real Assets Z	TRZRX	5.98%
T. Rowe Price International Value Eq Z	TROZX	4.94%
T. Rowe Price QM US Bond Index Z	TSBZX	4.84%
T. Rowe Price International Stock Z	TRNZX	3.05%
T. Rowe Price Em Mkts Discv Stk Z	TRFZX	2.98%
T. Rowe Price Emerging Markets Stock Z	TRGZX	2.70%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 19, 2025	$0.2964	Dec 22, 2025
Dec 20, 2024	$0.2019	Dec 23, 2024
Dec 21, 2023	$0.1925	Dec 22, 2023
Dec 21, 2022	$0.1377	Dec 22, 2022

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 27, 2026

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