TRLAX Performance — T. Rowe Price Retirement Income 2020 Fund
Data updated: 2026-08-27
TRLAX returned +6.36% year to date and +12.87% over one year to Jun 2026. Annualised returns are +11.28% over 3 years and +5.33% over 5 years. The fund trailed its Target-Date category average: $100 invested three years ago grew to $138, against $150 for the category, and to $113 over one year, against $118. Volatility over the past three years was 7.50% a year. In the 12 months to Jun 2026 the fund took in a net $7.5M, and assets reached $194.33M.
TRLAX Growth of $100
What $100 invested in T. Rowe Price Retirement Income 2020 Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Target-Date category average over the same months.
| Period | TRLAX | Category average |
|---|---|---|
| 1 year (Jul 2025 – Jun 2026) | $113 | $118 |
| 3 years (Jul 2023 – Jun 2026) | $138 | $150 |
| 5 years (Jul 2021 – Jun 2026) | $130 | $143 |
| Since data start (Jul 2019 – Jun 2026) | $168 | $187 |
TRLAX Trailing Returns
Total returns to Jun 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +6.36% |
| 1 year | +12.87% |
| 3 years (annualised) | +11.28% |
| 5 years (annualised) | +5.33% |
TRLAX Annual Returns
Calendar-year total returns of T. Rowe Price Retirement Income 2020 Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–Jun) | +6.36% |
| 2025 | +12.41% |
| 2024 | +9.25% |
| 2023 | +13.44% |
| 2022 | −14.76% |
| 2021 | +10.46% |
| 2020 | +13.43% |
| 2019 (Jul–Dec) | +5.94% |
TRLAX 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 | +2.1% | +1.7% | −4.1% | +4.6% | +2.0% | +0.1% | — | — | — | — | — | — |
| 2025 | +2.1% | +0.5% | −1.5% | 0.0% | +2.2% | +2.4% | +0.4% | +1.9% | +1.9% | +0.9% | +0.5% | +0.3% |
| 2024 | 0.0% | +2.1% | +2.3% | −2.5% | +2.7% | +0.9% | +2.0% | +1.7% | +1.3% | −1.7% | +2.7% | −2.5% |
| 2023 | +4.9% | −2.1% | +1.9% | +0.8% | −1.0% | +3.0% | +2.1% | −1.6% | −2.8% | −1.9% | +5.8% | +4.1% |
| 2022 | −3.5% | −1.7% | 0.0% | −5.5% | 0.0% | −5.2% | +4.5% | −2.9% | −6.4% | +2.9% | +5.2% | −2.6% |
| 2021 | −0.1% | +1.8% | +1.2% | +2.8% | +0.9% | +0.8% | +0.7% | +1.4% | −2.3% | +2.6% | −1.6% | +1.8% |
| 2020 | 0.0% | −3.9% | −10.7% | +7.8% | +3.8% | +2.4% | +3.7% | +3.2% | −1.8% | −0.7% | +7.4% | +3.1% |
| 2019 | — | — | — | — | — | — | +0.4% | −0.3% | +0.7% | +1.3% | +1.6% | +2.2% |
TRLAX Risk
Risk measures from monthly returns over Jul 2023 – Jun 2026.
- 3-year volatility (annualised): 7.50%
- 3-year Sharpe ratio: 0.90 (vs 4.5% risk-free rate)
- Best month: +5.80% (Nov 2023)
- Worst month: −4.12% (Mar 2026)
TRLAX Fund Flows
Monthly money in and out of T. Rowe Price Retirement Income 2020 Fund, from SEC Form N-PORT.
- 12-month net flow: $7.5M
- 12-month gross sales (incl. reinvestments): $32.6M
- Sales ÷ redemptions: 1.30×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| Jun 2026 | $3.3M | $2.4M | $909K |
| May 2026 | $1.9M | $1.8M | $128K |
| Apr 2026 | $1.1M | $1.5M | −$427K |
| Mar 2026 | $2.4M | $4.7M | −$2.4M |
| Feb 2026 | $3.4M | $2.1M | $1.3M |
| Jan 2026 | $1.5M | $3.0M | −$1.5M |
| Dec 2025 | $10.0M | $1.0M | $9.0M |
| Nov 2025 | $2.5M | $3.6M | −$1.1M |
| Oct 2025 | $1.8M | $1.3M | $569K |
| Sep 2025 | $789K | $1.1M | −$302K |
| Aug 2025 | $2.2M | $1.5M | $723K |
| Jul 2025 | $1.6M | $988K | $581K |
TRLAX Assets Under Management
Net assets of T. Rowe Price Retirement Income 2020 Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-06-30 | $194.33M |
| 2026-03-31 | $183.44M |
| 2025-12-31 | $189.38M |
| 2025-09-30 | $187.43M |
| 2025-06-30 | $181.00M |
| 2025-03-31 | $174.28M |
| 2024-12-31 | $173.45M |
| 2024-09-30 | $173.56M |
| 2024-06-30 | $162.88M |
| 2024-03-31 | $161.84M |
| 2023-12-31 | $148.54M |
| 2023-09-30 | $135.10M |
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.