TRRKX Performance — T. Rowe Price Retirement 2045 Fund
Data updated: 2026-08-12
TRRKX returned +10.70% year to date and +25.62% over one year to May 2026. Annualised returns are +19.12% over 3 years and +8.87% over 5 years. The fund beat its Target-Date category average: $100 invested three years ago grew to $169, against $155 for the category, and to $126 over one year, against $121. Volatility over the past three years was 11.82% a year. In the 12 months to May 2026 the fund lost a net $1.3B, and assets reached $19.77B.
TRRKX Growth of $100
What $100 invested in T. Rowe Price Retirement 2045 Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Target-Date category average over the same months.
| Period | TRRKX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $126 | $121 |
| 3 years (Jun 2023 – May 2026) | $169 | $155 |
| 5 years (Jun 2021 – May 2026) | $153 | $144 |
| Since data start (Sep 2019 – May 2026) | $220 | $187 |
TRRKX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +10.70% |
| 1 year | +25.62% |
| 3 years (annualised) | +19.12% |
| 5 years (annualised) | +8.87% |
TRRKX Annual Returns
Calendar-year total returns of T. Rowe Price Retirement 2045 Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +10.70% |
| 2025 | +18.53% |
| 2024 | +13.94% |
| 2023 | +20.45% |
| 2022 | −19.09% |
| 2021 | +17.23% |
| 2020 | +18.64% |
| 2019 (Sep–Dec) | +8.72% |
TRRKX 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 | +3.5% | +2.5% | −6.7% | +8.1% | +3.4% | — | — | — | — | — | — | — |
| 2025 | +3.4% | −0.2% | −2.9% | −0.3% | +4.5% | +3.7% | +0.5% | +2.9% | +2.9% | +1.2% | +0.9% | +0.7% |
| 2024 | 0.0% | +4.5% | +3.6% | −3.4% | +3.9% | +1.0% | +2.1% | +2.3% | +1.5% | −2.1% | +4.1% | −3.8% |
| 2023 | +7.0% | −2.7% | +2.1% | +1.2% | −1.0% | +5.6% | +3.5% | −2.5% | −4.0% | −2.8% | +8.1% | +5.1% |
| 2022 | −5.4% | −2.5% | +1.0% | −8.0% | +0.1% | −7.5% | +6.5% | −3.8% | −8.5% | +5.9% | +7.3% | −4.3% |
| 2021 | −0.1% | +3.7% | +2.2% | +4.1% | +1.2% | +1.1% | +0.5% | +2.5% | −3.8% | +4.7% | −2.9% | +3.0% |
| 2020 | −0.7% | −6.4% | −14.2% | +10.8% | +5.2% | +3.1% | +5.1% | +5.2% | −2.8% | −1.1% | +11.5% | +4.5% |
| 2019 | — | — | — | — | — | — | — | — | +1.1% | +1.6% | +2.7% | +3.0% |
TRRKX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 11.82%
- 3-year Sharpe ratio: 1.24 (vs 4.5% risk-free rate)
- Best month: +8.14% (Nov 2023)
- Worst month: −6.71% (Mar 2026)
TRRKX Fund Flows
Monthly money in and out of T. Rowe Price Retirement 2045 Fund, from SEC Form N-PORT.
- 12-month net flow: −$1.3B
- 12-month gross sales (incl. reinvestments): $3.5B
- Sales ÷ redemptions: 0.73×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $189.9M | $533.3M | −$343.4M |
| Apr 2026 | $196.4M | $449.1M | −$252.8M |
| Mar 2026 | $294.5M | $296.4M | −$1.8M |
| Feb 2026 | $295.1M | $336.0M | −$40.9M |
| Jan 2026 | $238.9M | $609.8M | −$370.9M |
| Dec 2025 | $929.6M | $395.7M | $533.9M |
| Nov 2025 | $230.5M | $367.1M | −$136.6M |
| Oct 2025 | $198.7M | $324.0M | −$125.4M |
| Sep 2025 | $266.2M | $436.4M | −$170.2M |
| Aug 2025 | $193.2M | $253.4M | −$60.2M |
| Jul 2025 | $214.5M | $339.6M | −$125.1M |
| Jun 2025 | $223.3M | $390.6M | −$167.4M |
TRRKX Assets Under Management
Net assets of T. Rowe Price Retirement 2045 Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $19.77B |
| 2026-02-28 | $19.55B |
| 2025-11-30 | $18.85B |
| 2025-08-31 | $18.37B |
| 2025-05-31 | $17.46B |
| 2025-02-28 | $17.25B |
| 2024-11-30 | $17.75B |
| 2024-08-31 | $17.39B |
| 2024-05-31 | $16.72B |
| 2024-02-29 | $16.09B |
| 2023-11-30 | $7.35B |
| 2023-08-31 | $7.47B |
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.