T. Rowe Price Retirement Income 2020 Inv (TRLAX)

Fund Assets	187.36M
Expense Ratio	0.51%
Min. Investment	$500,000
Turnover	19.10%
Dividend (ttm)	0.48
Dividend Yield	5.00%
Dividend Growth	-1.23%
Payout Frequency	Monthly
Ex-Dividend Date	Aug 18, 2026

Previous Close	9.61
YTD Return	7.37%
1-Year Return	11.51%
5-Year Return	23.05%
52-Week Low	8.91
52-Week High	9.67
Beta (5Y)	0.57
Holdings	26
Inception Date	May 25, 2017

About TRLAX

T. Rowe Price Retirement Income 2020 Fund Investor Class is a target-date mutual fund designed to provide monthly income for investors at or near retirement. The fund’s allocation strategy seeks a balance of income generation, capital preservation, and diversification by investing primarily in a mix of T. Rowe Price stock and bond funds that span various asset classes and sectors. Its composition evolves over time, progressively shifting toward more conservative investments as investors enter the retirement phase. As of mid-2025, the fund maintains significant holdings in both U.S. and international equities, core and return-seeking fixed income instruments, hedged equity funds, and inflation-focused bond funds, reflecting its broad diversification. It is actively managed and pursues stability with moderate credit and interest rate sensitivity, targeting those who retired around the year 2020. With an expense ratio near 0.51%, the fund offers a consistent stream of monthly distributions and is positioned as a foundational component in retirement portfolios, aiming to sustain income while mitigating market risks in later life.

• Fund Family: T. Rowe Price
• Category: Target-Date 2020
• Performance Rating: High
• Risk Rating: Average
• Stock Exchange: NASDAQ
• Ticker Symbol: TRLAX
• Index: S&P Target Date 2020 TR

Performance

TRLAX had a total return of 11.51% in the past year, including dividends. Since the fund's inception, the average annual return has been 6.70%.

Other Share Classes

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

Symbol	Share Class	Expense Ratio
TRABX	-i Class	0.36%

Top 10 Holdings

70.68% of assets

Name	Symbol	Weight
T. Rowe Price New Income Z	TRVZX	15.37%
T. Rowe Price Ltd Dur Infl Focus Bd Z	TRPZX	12.92%
T. Rowe Price Value Z	TRZAX	7.90%
T. Rowe Price Growth Stock Z	TRJZX	7.79%
T. Rowe Price Intl Bd (USD Hdgd) Z	TRMZX	5.82%
T. Rowe Price Hedged Equity Z	PZHEX	5.01%
T. Rowe Price Equity Index 500 Z	TRHZX	4.38%
T. Rowe Price US Large-Cap Core Z	TRZLX	4.24%
T. Rowe Price International Value Eq Z	TROZX	3.72%
T. Rowe Price Dynamic Global Bond Z	TRDZX	3.52%

Dividend History

Ex-Dividend	Amount	Pay Date
Aug 18, 2026	$0.040	Aug 19, 2026
Jul 16, 2026	$0.040	Jul 17, 2026
Jun 16, 2026	$0.040	Jun 17, 2026
May 18, 2026	$0.040	May 19, 2026
Apr 16, 2026	$0.040	Apr 17, 2026
Mar 17, 2026	$0.040	Mar 18, 2026

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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