T. Rowe Price Retirement 2040 Fund (TRRDX)
| Fund Assets | 26.53B |
| Expense Ratio | 0.60% |
| Min. Investment | $2,500 |
| Turnover | 14.90% |
| Dividend (ttm) | 1.50 |
| Dividend Yield | 4.51% |
| Dividend Growth | 117.60% |
| Payout Frequency | Annual |
| Ex-Dividend Date | Dec 19, 2025 |
| Previous Close | 33.26 |
| YTD Return | -3.31% |
| 1-Year Return | 8.45% |
| 5-Year Return | 31.84% |
| 52-Week Low | 27.64 |
| 52-Week High | 36.50 |
| Beta (5Y) | n/a |
| Holdings | 30 |
| Inception Date | Sep 30, 2002 |
About TRRDX
T. Rowe Price Retirement 2040 Fund is a target-date mutual fund designed to pursue total return with an emphasis on both capital growth and income as investors progress toward an expected 2040 retirement. The fund is actively managed and invests primarily in a diversified mix of underlying T. Rowe Price stock and bond funds spanning U.S. and international equities, core fixed income, and real assets, with allocations that evolve along a glide path as the retirement date approaches. The glide path gradually reduces equity exposure and increases fixed income, continuing to adjust for roughly three decades beyond the target date to balance growth and income needs over a long retirement horizon. The strategy assumes a retirement age of 65 and benchmarks itself to the S&P Target Date 2040 Index. Key characteristics include multi-asset diversification, tactical flexibility within defined ranges, and an emphasis on broad market representation through T. Rowe Price underlying strategies. As of June 30, 2025, the fund reported an expense ratio of 0.60% and total assets of approximately $25.6 billion, reflecting its scale within the target-date category.
Performance
TRRDX had a total return of 8.45% in the past year, including dividends. Since the fund's inception, the average annual return has been 9.14%.
Top 10 Holdings
79.10% of assets| Name | Symbol | Weight |
|---|---|---|
| T. Rowe Price Value Z | TRZAX | 14.25% |
| T. Rowe Price Growth Stock Z | TRJZX | 13.20% |
| T. Rowe Price Equity Index 500 Z | TRHZX | 8.92% |
| T. Rowe Price International Value Eq Z | TROZX | 8.30% |
| T. Rowe Price US Large-Cap Core Z | TRZLX | 7.68% |
| T. Rowe Price Overseas Stock Z | TRZSX | 7.38% |
| T. Rowe Price International Stock Z | TRNZX | 5.86% |
| T. Rowe Price Real Assets Z | TRZRX | 5.77% |
| T. Rowe Price New Income Z | TRVZX | 4.80% |
| T. Rowe Price Em Mkts Discv Stk Z | TRFZX | 2.95% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Dec 19, 2025 | $1.5021 | Dec 22, 2025 |
| Dec 20, 2024 | $0.6903 | Dec 23, 2024 |
| Dec 21, 2023 | $1.5464 | Dec 22, 2023 |
| Dec 21, 2022 | $2.1781 | Dec 22, 2022 |
| Dec 21, 2021 | $2.594 | Dec 22, 2021 |
| Dec 22, 2020 | $1.510 | Dec 23, 2020 |