TRBLX Performance — T. Rowe Price Retirement Blend 2040 Fund
Data updated: 2026-08-12
TRBLX returned +10.31% year to date and +25.26% over one year to May 2026. The annualised 3-year return is +18.75%. The fund beat its Target-Date category average: $100 invested three years ago grew to $167, against $155 for the category, and to $125 over one year, against $121. Volatility over the past three years was 11.46% a year. In the 12 months to May 2026 the fund took in a net $917.1M, and assets reached $1.82B.
TRBLX Growth of $100
What $100 invested in T. Rowe Price Retirement Blend 2040 Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Target-Date category average over the same months.
| Period | TRBLX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $125 | $121 |
| 3 years (Jun 2023 – May 2026) | $167 | $155 |
| Since data start (Jul 2021 – May 2026) | $151 | $143 |
TRBLX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +10.31% |
| 1 year | +25.26% |
| 3 years (annualised) | +18.75% |
TRBLX Annual Returns
Calendar-year total returns of T. Rowe Price Retirement Blend 2040 Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +10.31% |
| 2025 | +18.63% |
| 2024 | +13.66% |
| 2023 | +19.88% |
| 2022 | −18.04% |
| 2021 (Jul–Dec) | +3.55% |
TRBLX 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 | +3.1% | +2.1% | −6.0% | +7.6% | +3.5% | — | — | — | — | — | — | — |
| 2025 | +3.4% | −0.2% | −3.1% | 0.0% | +4.5% | +3.7% | +0.6% | +2.9% | +3.0% | +1.4% | +0.6% | +0.7% |
| 2024 | −0.1% | +4.1% | +3.3% | −3.7% | +4.0% | +1.1% | +2.3% | +2.1% | +1.7% | −2.1% | +4.0% | −3.5% |
| 2023 | +7.1% | −2.7% | +2.2% | +1.1% | −1.1% | +5.4% | +3.3% | −2.5% | −4.0% | −2.8% | +8.1% | +5.2% |
| 2022 | −4.9% | −2.5% | +1.3% | −7.7% | +0.3% | −7.6% | +6.6% | −3.7% | −8.6% | +5.8% | +7.2% | −4.2% |
| 2021 | — | — | — | — | — | — | −0.2% | +2.3% | −3.7% | +4.7% | −2.5% | +3.2% |
TRBLX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 11.46%
- 3-year Sharpe ratio: 1.24 (vs 4.5% risk-free rate)
- Best month: +8.13% (Nov 2023)
- Worst month: −5.97% (Mar 2026)
TRBLX Fund Flows
Monthly money in and out of T. Rowe Price Retirement Blend 2040 Fund, from SEC Form N-PORT.
- 12-month net flow: $917.1M
- 12-month gross sales (incl. reinvestments): $1.1B
- Sales ÷ redemptions: 5.04×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $288.8M | $21.9M | $266.9M |
| Apr 2026 | $50.9M | $25.7M | $25.2M |
| Mar 2026 | $40.1M | $17.6M | $22.6M |
| Feb 2026 | $123.5M | $19.1M | $104.5M |
| Jan 2026 | $168.7M | $34.3M | $134.4M |
| Dec 2025 | $160.3M | $21.3M | $138.9M |
| Nov 2025 | $54.3M | $15.5M | $38.7M |
| Oct 2025 | $48.2M | $16.6M | $31.6M |
| Sep 2025 | $76.2M | $11.2M | $65.0M |
| Aug 2025 | $44.5M | $18.9M | $25.6M |
| Jul 2025 | $61.0M | $14.9M | $46.1M |
| Jun 2025 | $27.6M | $9.8M | $17.8M |
TRBLX Assets Under Management
Net assets of T. Rowe Price Retirement Blend 2040 Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $1.82B |
| 2026-02-28 | $1.43B |
| 2025-11-30 | $1.01B |
| 2025-08-31 | $824.93M |
| 2025-05-31 | $682.07M |
| 2025-02-28 | $573.33M |
| 2024-11-30 | $410.95M |
| 2024-08-31 | $308.75M |
| 2024-05-31 | $255.65M |
| 2024-02-29 | $183.59M |
| 2023-11-30 | $143.71M |
| 2023-08-31 | $119.17M |
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.