TRFJX Performance — T. Rowe Price Retirement 2035 Fund, I Class
Data updated: 2026-08-12
TRFJX returned +8.87% year to date and +21.62% over one year to May 2026. Over one year the fund beat its Target-Date category average: $100 grew to $122, against $121 for the category. Volatility over the past 12 months was 9.98% a year. In the 12 months to May 2026 the fund lost a net $1.6B, and assets reached $24.78B.
TRFJX Growth of $100
What $100 invested in T. Rowe Price Retirement 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 | TRFJX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $122 | $121 |
| Since data start (Nov 2023 – May 2026) | $155 | $158 |
TRFJX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +8.87% |
| 1 year | +21.62% |
3- and 5-year figures withheld: disagrees with sibling classes.
TRFJX Annual Returns
Calendar-year total returns of T. Rowe Price Retirement 2035 Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +8.87% |
| 2025 | +16.32% |
| 2024 | +12.16% |
| 2023 (Nov–Dec) | +8.81% |
TRFJX 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 | +2.9% | +2.3% | −5.7% | +6.7% | +2.8% | — | — | — | — | — | — | — |
| 2025 | +2.9% | +0.2% | −2.4% | −0.2% | +3.6% | +3.3% | +0.4% | +2.5% | +2.6% | +1.1% | +0.7% | +0.6% |
| 2024 | −0.1% | +3.6% | +3.2% | −3.2% | +3.5% | +1.0% | +2.1% | +2.1% | +1.5% | −2.0% | +3.6% | −3.4% |
| 2023 | — | — | — | — | — | — | — | — | — | — | +3.7% | +5.0% |
TRFJX Risk
Risk measures from monthly returns over Jun 2025 – May 2026.
- 1-year volatility (annualised): 9.98%
- Best month: +6.69% (Apr 2026)
- Worst month: −5.73% (Mar 2026)
TRFJX Fund Flows
Monthly money in and out of T. Rowe Price Retirement 2035 Fund, from SEC Form N-PORT.
- 12-month net flow: −$1.6B
- 12-month gross sales (incl. reinvestments): $4.6B
- Sales ÷ redemptions: 0.74×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $242.8M | $621.6M | −$378.8M |
| Apr 2026 | $232.2M | $557.4M | −$325.2M |
| Mar 2026 | $334.8M | $406.0M | −$71.1M |
| Feb 2026 | $354.8M | $471.0M | −$116.1M |
| Jan 2026 | $315.3M | $701.4M | −$386.1M |
| Dec 2025 | $1.4B | $547.1M | $805.8M |
| Nov 2025 | $310.3M | $509.6M | −$199.3M |
| Oct 2025 | $276.6M | $444.0M | −$167.4M |
| Sep 2025 | $321.4M | $534.7M | −$213.3M |
| Aug 2025 | $279.5M | $386.1M | −$106.6M |
| Jul 2025 | $267.1M | $449.8M | −$182.7M |
| Jun 2025 | $276.5M | $518.1M | −$241.6M |
TRFJX Assets Under Management
Net assets of T. Rowe Price Retirement 2035 Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $24.78B |
| 2026-02-28 | $24.74B |
| 2025-11-30 | $24.14B |
| 2025-08-31 | $23.68B |
| 2025-05-31 | $22.80B |
| 2025-02-28 | $22.75B |
| 2024-11-30 | $23.29B |
| 2024-08-31 | $22.98B |
| 2024-05-31 | $22.16B |
| 2024-02-29 | $21.52B |
| 2023-11-30 | $10.82B |
| 2023-08-31 | $10.99B |
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.