T. Rowe Price Target 2040 I (TRXRX)

Fund Assets	174.97M
Expense Ratio	0.40%
Min. Investment	$1,000,000
Turnover	n/a
Dividend (ttm)	0.37
Dividend Yield	1.93%
Dividend Growth	-0.75%
Payout Frequency	Annual
Ex-Dividend Date	Dec 22, 2025

Previous Close	19.03
YTD Return	8.62%
1-Year Return	11.66%
5-Year Return	40.31%
52-Week Low	17.04
52-Week High	19.57
Beta (5Y)	0.77
Holdings	25
Inception Date	Feb 26, 2016

About TRXRX

TRXRX was founded on 2016-02-26. The Fund's investment strategy focuses on Flexible Portfolio with 0.09% total expense ratio. The minimum amount to invest in T Rowe Price Retirement Funds, Inc: T Rowe Price Target 2040 Fund; Class I Shares is $1,000,000 on a standard taxable account. T Rowe Price Retirement Funds, Inc: T Rowe Price Target 2040 Fund; Class I Shares seeks the highest total return over time consistent with an emphasis on both capital growth and income. TRXRX invests in a diversified portfolio of other T. Rowe Price stock and bond funds that represent various asset classes and sectors. Allocation changes over time in relation to its target retirement date.

• Category: Target-Date 2040
• Stock Exchange: Nasdaq
• Ticker Symbol: TRXRX
• Share Class: -i Class
• Index: S&P Target Date 2040 TR

Performance

TRXRX had a total return of 11.66% in the past year, including dividends. Since the fund's inception, the average annual return has been 9.93%.

Other Share Classes

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

Symbol	Share Class	Expense Ratio
PAHHX	-advisor Class	0.82%

Top 10 Holdings

75.44% of assets

Name	Symbol	Weight
T. Rowe Price Value Z	TRZAX	12.98%
T. Rowe Price Growth Stock Z	TRJZX	12.57%
T. Rowe Price New Income Z	TRVZX	8.81%
T. Rowe Price US Large-Cap Core Z	TRZLX	7.01%
T. Rowe Price Ltd Dur Infl Focus Bd Z	TRPZX	6.83%
T. Rowe Price Equity Index 500 Z	TRHZX	6.64%
T. Rowe Price International Value Eq Z	TROZX	5.85%
T. Rowe Price Overseas Stock Z	TRZSX	5.38%
T. Rowe Price International Stock Z	TRNZX	4.80%
T. Rowe Price Real Assets Z	TRZRX	4.56%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 22, 2025	$1.0976	Dec 23, 2025
Dec 23, 2024	$0.5625	Dec 24, 2024
Dec 22, 2023	$0.4582	Dec 26, 2023
Dec 22, 2022	$0.8494	Dec 23, 2022
Dec 22, 2021	$0.200	Dec 23, 2021
Dec 22, 2020	$0.295	Dec 23, 2020

Data Sources: Tiingo, Alpha Vantage, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Alpha Vantage. Several fund data points are also provided by Finnhub.

Last checked:

Oct 16, 2026

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