TREHX Fees and Costs — T. Rowe Price Retirement 2025 Fund, I Class
Data updated: 2026-08-12
The net expense ratio is 0.37%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $29K in broker commissions, 0.0002% of average net assets, and portfolio turnover was 20%.
TREHX Fees and Expenses
Annual operating expenses and sales charges of TREHX. Prospectus, as of July 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.37% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.37% |
| Fee waiver | — |
| Net expense ratio | 0.37% |
| 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 |
TREHX Costs Over Time
On $10,000 invested in TREHX, assuming 5% a year before costs, total costs come to $234 over 5 years, cutting the return by 0.39% 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 0.37%) | $39 | $122 | $213 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $0 | $6 | $21 |
| Total costs | $39 | $128 | $234 |
| Value after costs | $10,461 | $11,448 | $12,528 |
| Impact on return, per year | 0.39% | 0.39% | 0.39% |
TREHX 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: $29K
- Bought from dealers (principal trades, not a cost): $161.2M
- Portfolio turnover (prospectus): 20%
- Securities lending: none during the year
TREHX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| GOLDMAN SACHS & CO. LLC | $8K | 26.16% |
| J.P. MORGAN SECURITIES LLC | $7K | 24.36% |
| Citigroup Inc. | $6K | 21.74% |
| BOFA SECURITIES, INC. | $6K | 19.80% |
| MORGAN STANLEY & CO. LLC | $2K | 7.94% |
TREHX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| ASL CAPITAL MARKETS INC. | $80.3M | 49.79% |
| MORGAN STANLEY & CO. LLC | $61.2M | 37.93% |
| J.P. MORGAN SECURITIES LLC | $19.8M | 12.29% |
T. Rowe Price Retirement 2025 Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| TREHX | I Class | 0.37% | — |
| TRRHX | T. Rowe Price Retirement 2025 Fund | 0.53% | — |
| PARJX | Advisor Class | 0.78% | — |
| RRTNX | R Class | 1.03% | — |
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.