T. Rowe Price Retirement Blend 2045 (TRBQX)

Fund Assets	1.55B
Expense Ratio	0.43%
Min. Investment	$500,000
Turnover	19.00%
Dividend (ttm)	0.21
Dividend Yield	1.45%
Dividend Growth	22.71%
Payout Frequency	Annual
Ex-Dividend Date	Dec 19, 2025

Previous Close	14.18
YTD Return	11.30%
1-Year Return	15.16%
5-Year Return	56.88%
52-Week Low	12.26
52-Week High	14.63
Beta (5Y)	n/a
Holdings	23
Inception Date	Jul 26, 2021

About TRBQX

T. Rowe Price Retirement Blend 2045 Fund is a target-date mutual fund designed to provide a professionally managed, age-appropriate asset mix for investors planning to retire around 2045. The fund seeks high total return with an emphasis on both capital growth and income by investing in a diversified lineup of underlying T. Rowe Price equity and fixed income funds, combining active and index strategies across U.S. large-cap, mid-cap, small-cap, international developed and emerging markets, real assets, and core and diversifying bonds. Its glide path gradually shifts from a predominantly equity allocation in the early years toward higher fixed income exposure as the target date approaches to help manage risk while maintaining growth potential. The fund follows the S&P Target Date 2045 Index as a benchmark reference and is managed by an experienced team that rebalances and adjusts underlying allocations over time based on research-driven insights. This structure aims to simplify retirement investing by packaging broad diversification, ongoing oversight, and a time-based risk transition in a single fund.

• Fund Family: T. Rowe Price
• Category: Target-Date 2045
• Performance Rating: Above Average
• Risk Rating: Above Average
• Stock Exchange: Nasdaq
• Ticker Symbol: TRBQX

Performance

TRBQX had a total return of 15.16% in the past year, including dividends. Since the fund's inception, the average annual return has been 8.88%.

Other Share Classes

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

Symbol	Share Class	Expense Ratio
TBLKX	-i Class	0.24%

Top 10 Holdings

85.46% of assets

Name	Symbol	Weight
T. Rowe Price Equity Index 500 Z	TRHZX	27.56%
T. Rowe Price International Eq Z	TLIEX	13.31%
T. Rowe Price Growth Stock Z	TRJZX	11.22%
T. Rowe Price Value Z	TRZAX	10.72%
T. Rowe Price Real Assets Z	TRZRX	5.67%
T. Rowe Price International Value Eq Z	TROZX	4.70%
T. Rowe Price International Stock Z	TRNZX	3.21%
T. Rowe Price Em Mkts Discv Stk Z	TRFZX	3.19%
T. Rowe Price Emerging Markets Stock Z	TRGZX	3.03%
T. Rowe Price Mid-Cap Index Z	TRSZX	2.85%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 19, 2025	$0.2957	Dec 22, 2025
Dec 20, 2024	$0.1972	Dec 23, 2024
Dec 21, 2023	$0.169	Dec 22, 2023
Dec 21, 2022	$0.1407	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:

Oct 16, 2026

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