PARDX Fees and Costs — T. Rowe Price Retirement 2040 Fund, Advisor Class
Data updated: 2026-08-12
The net expense ratio is 0.84%: a 0.59% management fee plus a 0.25% 12b-1 fee. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $40K in broker commissions, 0.0002% of average net assets, and portfolio turnover was 24%.
PARDX Fees and Expenses
Annual operating expenses and sales charges of PARDX. Prospectus, as of July 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.59% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.84% |
| Fee waiver | — |
| Net expense ratio | 0.84% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
PARDX Costs Over Time
On $10,000 invested in PARDX, assuming 5% a year before costs, total costs come to $527 over 5 years, cutting the return by 0.88% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.84%) | $88 | $276 | $479 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $14 | $48 |
| Total costs | $88 | $289 | $527 |
| Value after costs | $10,412 | $11,287 | $12,236 |
| Impact on return, per year | 0.88% | 0.88% | 0.88% |
PARDX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0002%
- Total broker commissions: $40K
- Bought from dealers (principal trades, not a cost): $205.4M
- Portfolio turnover (prospectus): 24%
- Securities lending: none during the year
PARDX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $11K | 26.80% |
| Citigroup Inc. | $10K | 24.79% |
| J.P. MORGAN SECURITIES LLC | $8K | 20.56% |
| BOFA SECURITIES, INC. | $8K | 19.49% |
| MORGAN STANLEY & CO. LLC | $3K | 8.36% |
PARDX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| ASL CAPITAL MARKETS INC. | $105.1M | 51.16% |
| MORGAN STANLEY & CO. LLC | $75.5M | 36.78% |
| J.P. MORGAN SECURITIES LLC | $24.8M | 12.06% |
T. Rowe Price Retirement 2040 Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| TRHDX | I Class | 0.42% | — |
| TRRDX | T. Rowe Price Retirement 2040 Fund | 0.59% | — |
| PARDX | Advisor Class | 0.84% | — |
| RRTDX | R Class | 1.09% | — |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.