TRRJX Performance — T. Rowe Price Retirement 2035 Fund
Data updated: 2026-08-12
TRRJX returned +8.81% year to date and +21.40% over one year to May 2026. Annualised returns are +16.43% over 3 years and +7.45% over 5 years. The fund beat its Target-Date category average: $100 invested three years ago grew to $158, against $155 for the category, and to $121 over one year, against $121. Volatility over the past three years was 10.37% a year. In the 12 months to May 2026 the fund lost a net $1.6B, and assets reached $24.78B.
TRRJX 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 | TRRJX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $121 | $121 |
| 3 years (Jun 2023 – May 2026) | $158 | $155 |
| 5 years (Jun 2021 – May 2026) | $143 | $144 |
| Since data start (Sep 2019 – May 2026) | $199 | $187 |
TRRJX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +8.81% |
| 1 year | +21.40% |
| 3 years (annualised) | +16.43% |
| 5 years (annualised) | +7.45% |
TRRJX 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) | +8.81% |
| 2025 | +16.12% |
| 2024 | +11.98% |
| 2023 | +18.06% |
| 2022 | −18.03% |
| 2021 | +15.08% |
| 2020 | +17.05% |
| 2019 (Sep–Dec) | +7.85% |
TRRJX 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% | −5.8% | +6.7% | +2.8% | — | — | — | — | — | — | — |
| 2025 | +2.9% | +0.1% | −2.4% | −0.2% | +3.7% | +3.2% | +0.5% | +2.5% | +2.6% | +1.1% | +0.8% | +0.5% |
| 2024 | −0.1% | +3.6% | +3.2% | −3.2% | +3.6% | +0.9% | +2.1% | +2.1% | +1.5% | −2.0% | +3.5% | −3.4% |
| 2023 | +6.3% | −2.6% | +2.1% | +1.2% | −1.0% | +4.7% | +3.0% | −2.3% | −3.7% | −2.6% | +7.5% | +4.9% |
| 2022 | −4.8% | −2.3% | +0.7% | −7.3% | +0.1% | −6.8% | +5.8% | −3.5% | −7.9% | +4.8% | +6.8% | −3.8% |
| 2021 | −0.2% | +3.1% | +1.9% | +3.7% | +1.1% | +1.0% | +0.6% | +2.2% | −3.3% | +4.0% | −2.5% | +2.7% |
| 2020 | −0.5% | −5.7% | −13.3% | +10.1% | +4.8% | +2.9% | +4.7% | +4.5% | −2.5% | −1.0% | +10.2% | +4.1% |
| 2019 | — | — | — | — | — | — | — | — | +1.0% | +1.5% | +2.4% | +2.7% |
TRRJX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 10.37%
- 3-year Sharpe ratio: 1.15 (vs 4.5% risk-free rate)
- Best month: +7.55% (Nov 2023)
- Worst month: −5.77% (Mar 2026)
TRRJX 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 |
TRRJX 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.