TPGPX Performance — T. Rowe Price Target 2035 Fund, I Class
Data updated: 2026-08-12
TPGPX returned +7.59% year to date and +18.54% over one year to May 2026. Annualised returns are +14.58% over 3 years and +6.62% over 5 years. The fund trailed its Target-Date category average: $100 invested three years ago grew to $150, against $155 for the category, and to $119 over one year, against $121. Volatility over the past three years was 8.94% a year. In the 12 months to May 2026 the fund lost a net $60.7M, and assets reached $520.39M.
TPGPX Growth of $100
What $100 invested in T. Rowe Price Target 2035 Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Target-Date category average over the same months.
| Period | TPGPX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $119 | $121 |
| 3 years (Jun 2023 – May 2026) | $150 | $155 |
| 5 years (Jun 2021 – May 2026) | $138 | $144 |
| Since data start (Sep 2019 – May 2026) | $184 | $187 |
TPGPX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +7.59% |
| 1 year | +18.54% |
| 3 years (annualised) | +14.58% |
| 5 years (annualised) | +6.62% |
TPGPX Annual Returns
Calendar-year total returns of T. Rowe Price Target 2035 Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +7.59% |
| 2025 | +14.52% |
| 2024 | +10.71% |
| 2023 | +16.06% |
| 2022 | −16.39% |
| 2021 | +12.99% |
| 2020 | +15.60% |
| 2019 (Sep–Dec) | +6.56% |
TPGPX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +2.5% | +2.1% | −4.8% | +5.6% | +2.4% | — | — | — | — | — | — | — |
| 2025 | +2.6% | +0.3% | −1.9% | 0.0% | +3.0% | +2.8% | +0.4% | +2.3% | +2.2% | +0.9% | +0.6% | +0.5% |
| 2024 | −0.1% | +2.9% | +2.8% | −2.8% | +3.1% | +0.9% | +2.0% | +1.9% | +1.4% | −1.9% | +3.1% | −2.9% |
| 2023 | +5.7% | −2.4% | +2.1% | +1.0% | −1.0% | +3.9% | +2.6% | −1.9% | −3.3% | −2.2% | +6.7% | +4.5% |
| 2022 | −4.2% | −2.0% | +0.5% | −6.5% | +0.1% | −6.0% | +5.2% | −3.2% | −7.2% | +4.0% | +6.0% | −3.2% |
| 2021 | −0.1% | +2.4% | +1.6% | +3.3% | +1.1% | +0.9% | +0.7% | +1.9% | −2.9% | +3.5% | −2.1% | +2.3% |
| 2020 | −0.1% | −4.5% | −11.8% | +8.7% | +4.3% | +2.5% | +4.2% | +3.9% | −2.1% | −0.8% | +8.7% | +3.6% |
| 2019 | — | — | — | — | — | — | — | — | +0.8% | +1.3% | +2.0% | +2.4% |
TPGPX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 8.94%
- 3-year Sharpe ratio: 1.13 (vs 4.5% risk-free rate)
- Best month: +6.71% (Nov 2023)
- Worst month: −4.84% (Mar 2026)
TPGPX Fund Flows
Monthly money in and out of T. Rowe Price Target 2035 Fund, from SEC Form N-PORT.
- 12-month net flow: −$60.7M
- 12-month gross sales (incl. reinvestments): $131.7M
- Sales ÷ redemptions: 0.68×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $7.8M | $30.0M | −$22.3M |
| Apr 2026 | $6.4M | $9.7M | −$3.3M |
| Mar 2026 | $9.4M | $5.8M | $3.5M |
| Feb 2026 | $9.5M | $10.4M | −$888K |
| Jan 2026 | $7.2M | $21.6M | −$14.4M |
| Dec 2025 | $49.2M | $5.9M | $43.3M |
| Nov 2025 | $6.7M | $4.4M | $2.3M |
| Oct 2025 | $7.1M | $7.0M | $96K |
| Sep 2025 | $5.4M | $34.2M | −$28.8M |
| Aug 2025 | $8.2M | $31.0M | −$22.8M |
| Jul 2025 | $7.6M | $25.6M | −$18.0M |
| Jun 2025 | $7.2M | $6.6M | $550K |
TPGPX Assets Under Management
Net assets of T. Rowe Price Target 2035 Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $520.39M |
| 2026-02-28 | $527.51M |
| 2025-11-30 | $509.63M |
| 2025-08-31 | $516.96M |
| 2025-05-31 | $527.97M |
| 2025-02-28 | $525.93M |
| 2024-11-30 | $540.98M |
| 2024-08-31 | $530.51M |
| 2024-05-31 | $512.16M |
| 2024-02-29 | $510.61M |
| 2023-11-30 | $477.74M |
| 2023-08-31 | $471.47M |
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.