Continue to site >
Trending ETFs

T. Rowe Price Retirement Blend 2045 Fund

mutual fund
TRBQX
Payout Change
Pending
Price as of:
$11.52 +0.02 +0.17%
primary theme
Target-Date 2045
share class
TRBQX (Mutual Fund)

T. Rowe Price Retirement Blend 2045 Fund

Payout Change
Pending
Price as of:
$11.52 +0.02 +0.17%
primary theme
Target-Date 2045
share class
TRBQX (Mutual Fund)

T. Rowe Price Retirement Blend 2045 Fund

Payout Change
Pending
Price as of:
$11.52 +0.02 +0.17%
primary theme
Target-Date 2045
share class

Name

As of 12/02/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$11.52

$303 M

1.29%

$0.15

0.42%

Vitals

YTD Return

19.0%

1 yr return

24.7%

3 Yr Avg Return

6.9%

5 Yr Avg Return

N/A

Net Assets

$303 M

Holdings in Top 10

87.7%

52 WEEK LOW AND HIGH

$11.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.42%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,500

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/02/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$11.52

$303 M

1.29%

$0.15

0.42%

TRBQX - Profile

Distributions

  • YTD Total Return 19.0%
  • 3 Yr Annualized Total Return 6.9%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 1.3%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    T. Rowe Price Retirement Blend 2045 Fund
  • Fund Family Name
    TROWEPRICE
  • Inception Date
    Jul 26, 2021
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Wyatt Lee

Fund Description

The fund pursues its objective(s) by investing in a diversified portfolio of other T. Rowe Price stock and bond mutual funds that represent various asset classes and sectors. The fund’s allocation among T. Rowe Price mutual funds will change over time in relation to its target retirement date. The fund invests in a mix of both actively managed funds and passively managed index funds, which is an approach designed to reduce tracking error and result in lower overall fees in comparison to actively managed target date funds.

The fund is managed based on the specific retirement year (target date 2045) included in its name and assumes a retirement age of 65. The target date refers to the approximate year an investor in the fund would plan to retire and likely stop making new investments in the fund. The fund is primarily designed for an investor who anticipates retiring at or about the target date and who plans to withdraw the value of the account in the fund gradually after retirement. However, if an investor retires earlier or later than age 65, the fund may not be an appropriate investment even if the investor retires on or near the fund’s target date.

Over time, the allocation to asset classes and funds will change according to a predetermined “glide path” shown in the following chart (the left axis indicates the overall neutral allocation to stocks with the remainder of the allocation to bonds). The glide path represents the shifting of asset classes over time and shows how the fund’s asset mix becomes more conservative–both prior to and after retirement–as time elapses. This reflects the need for reduced market risks as retirement approaches and the need for lower portfolio volatility after retiring. Although the glide path is meant to dampen the fund’s potential volatility as retirement approaches, the fund is not designed for a lump sum redemption at the retirement date. The fund pursues an asset allocation strategy that promotes asset accumulation prior to retirement, but it is intended to also serve as a post-retirement investment vehicle with allocations designed to support an income stream made up of regular withdrawals throughout retirement along with some portfolio growth that exceeds inflation. After the target date, the fund is designed to balance longevity and inflation risks along with the need for some income, although it does not guarantee a particular level of income.

The glide path provides for a neutral allocation to stocks at the target date of 55%. The fund’s overall exposure to stocks will continue to decline until approximately 30 years after its target date, when its neutral allocations to stocks and bonds will remain unchanged. There are no maturity restrictions within the fund’s overall allocation to bonds, although the underlying bond funds in which the fund invests may impose specific limits on maturity or credit quality. The allocations are referred to as “neutral” allocations because they do not reflect any tactical decisions made by T. Rowe Price to overweight or underweight a particular asset class or sector based on its market outlook. The target allocations assigned to the broad asset classes (Stocks and Bonds), which reflect these tactical decisions resulting from market outlook, are not expected to vary from the neutral allocations set forth in the glide path by more than plus or minus 5%. The target allocations and actual allocations may differ due to significant market movements or cash flows.

The following table illustrates how the portfolio is generally expected to be allocated between the asset classes and the underlying T. Rowe Price mutual funds that are used to represent the broad asset classes and specific sectors. The fund invests in the Z Class of each of its underlying funds. T. Rowe Price is contractually obligated to waive and/or bear all of the Z Class’ expenses, with certain limited exceptions. The fund’s overall allocation to stocks is represented by a diversified mix of U.S. and international stock funds that employ both growth and value investment approaches and consist of large-cap, mid-cap, and small-cap stocks. The fund’s overall allocation to bonds is represented by a “core” fixed income component designed to have lower overall volatility and a “diversifying” fixed income component designed to respond to a variety of market conditions and improve risk adjusted returns. The information in the table represents the neutral allocations for the fund as of August 1, 2024. The numbers may not add to 100% due to rounding. Updated allocations between stock funds and bond funds, and actual

allocations to the individual T. Rowe Price mutual funds, are available through troweprice.com. T. Rowe Price may periodically rebalance or modify the asset mix of the underlying funds and change the underlying fund allocations.

Retirement Blend 2045 Fund

Asset Class

Sector(s)

Neutral Allocation

Underlying Fund(s)

Stocks

95.39

%

Hedged Equity

0.00

%

Hedged Equity

Inflation Focused

4.77

Real Assets

International Developed Market

23.11

International Equity Index,

International Stock, and/or

International Value Equity

International Emerging Market

4.08

Emerging Markets Discovery Stock and/or

Emerging Markets Stock

U.S. Large-Cap

50.75

Equity Index 500,

Growth Stock, and/or

Value

U.S. Mid-Cap

6.34

Mid-Cap Growth,

Mid-Cap Index, and/or

Mid-Cap Value

U.S. Small-Cap

6.34

New Horizons,

Small-Cap Index, and/or

Small-Cap Value

Bonds

4.60

Core Fixed Income

3.22

Dynamic Global Bond,

International Bond (USD Hedged), and/or

QM U.S. Bond Index

Diversifying Fixed Income

1.38

Dynamic Credit,

Emerging Markets Bond,

Floating Rate,

High Yield,

U.S. Limited Duration TIPS Index,

U.S. Treasury Long-Term Index, and/or

U.S. Treasury Money

Read More

TRBQX - Performance

Return Ranking - Trailing

Period TRBQX Return Category Return Low Category Return High Rank in Category (%)
YTD 19.0% 12.7% 26.2% 31.28%
1 Yr 24.7% 17.4% 28.1% 36.41%
3 Yr 6.9%* 0.0% 8.8% 14.43%
5 Yr N/A* 5.9% 11.7% N/A
10 Yr N/A* 5.9% 9.9% N/A

* Annualized

Return Ranking - Calendar

Period TRBQX Return Category Return Low Category Return High Rank in Category (%)
2023 18.8% 4.8% 21.3% 5.15%
2022 -19.7% -65.7% -14.5% 19.07%
2021 N/A -4.7% 18.7% N/A
2020 N/A 2.3% 15.5% N/A
2019 N/A 8.2% 23.0% N/A

Total Return Ranking - Trailing

Period TRBQX Return Category Return Low Category Return High Rank in Category (%)
YTD 19.0% 12.7% 26.2% 31.28%
1 Yr 24.7% 17.4% 28.1% 36.41%
3 Yr 6.9%* 0.0% 8.8% 14.43%
5 Yr N/A* 5.9% 11.7% N/A
10 Yr N/A* 5.9% 9.9% N/A

* Annualized

Total Return Ranking - Calendar

Period TRBQX Return Category Return Low Category Return High Rank in Category (%)
2023 20.9% 11.2% 37.0% 20.62%
2022 -18.3% -28.2% 0.1% 69.07%
2021 N/A 4.2% 22.9% N/A
2020 N/A 7.8% 23.2% N/A
2019 N/A 21.3% 37.2% N/A

NAV & Total Return History


TRBQX - Holdings

Concentration Analysis

TRBQX Category Low Category High TRBQX % Rank
Net Assets 303 M 6.93 M 79.9 B 65.64%
Number of Holdings 22 2 586 35.38%
Net Assets in Top 10 234 M 9.98 M 91 B 65.64%
Weighting of Top 10 87.69% 42.4% 144.1% 45.45%

Top 10 Holdings

  1. T ROWE PRICE EQUITY INDEX 500 FUND 30.63%
  2. T ROWE PRICE INTERNATIONAL EQUITY INDEX FUND 13.61%
  3. T ROWE PRICE VALUE FUND INC 10.61%
  4. T ROWE PRICE GROWTH STOCK FUND INC 9.20%
  5. T ROWE PRICE REAL ASSETS FUND INC 6.34%
  6. T ROWE PRICE INTERNATIONAL VALUE EQUITY FUND 4.36%
  7. T ROWE PRICE INTERNATIONAL STOCK FUND 3.77%
  8. T ROWE PRICE MID-CAP INDEX FUND 3.52%
  9. T ROWE PRICE SMALL-CAP INDEX FUND 2.97%
  10. T ROWE PRICE EMERGING MARKETS DISCOVERY STOCK FUND 2.68%

Asset Allocation

Weighting Return Low Return High TRBQX % Rank
Stocks
98.69% 0.00% 100.11% 64.62%
Cash
1.32% 0.00% 45.56% 22.56%
Convertible Bonds
0.02% 0.00% 1.09% 91.28%
Preferred Stocks
0.00% 0.00% 0.03% 48.21%
Other
0.00% -0.02% 11.52% 56.41%
Bonds
0.00% 0.00% 25.62% 61.03%

Stock Sector Breakdown

Weighting Return Low Return High TRBQX % Rank
Technology
20.01% 14.05% 23.99% 27.69%
Financial Services
14.35% 13.09% 18.83% 68.21%
Healthcare
12.99% 10.69% 14.59% 40.00%
Consumer Cyclical
12.21% 8.06% 13.31% 7.69%
Industrials
10.37% 9.12% 12.31% 50.26%
Communication Services
9.02% 5.69% 10.23% 12.31%
Consumer Defense
5.59% 4.68% 11.06% 82.05%
Basic Materials
4.91% 3.18% 6.86% 40.00%
Real Estate
4.67% 1.86% 10.17% 43.08%
Utilities
3.01% 1.89% 8.09% 19.49%
Energy
2.88% 2.33% 6.54% 93.85%

Stock Geographic Breakdown

Weighting Return Low Return High TRBQX % Rank
US
98.69% 0.00% 100.11% 64.62%
Non US
0.00% 0.00% 38.46% 53.33%

TRBQX - Expenses

Operational Fees

TRBQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.42% 0.01% 19.43% 77.95%
Management Fee 0.42% 0.00% 0.88% 78.14%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.15% 0.01% 0.29% 53.66%

Sales Fees

TRBQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

TRBQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

TRBQX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.42% 115.00% N/A

TRBQX - Distributions

Dividend Yield Analysis

TRBQX Category Low Category High TRBQX % Rank
Dividend Yield 1.29% 0.00% 6.14% 65.64%

Dividend Distribution Analysis

TRBQX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Annual Annual

Net Income Ratio Analysis

TRBQX Category Low Category High TRBQX % Rank
Net Income Ratio N/A -0.42% 3.87% N/A

Capital Gain Distribution Analysis

TRBQX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

TRBQX - Fund Manager Analysis

Managers

Wyatt Lee


Start Date

Tenure

Tenure Rank

Jul 26, 2021

0.85

0.9%

Wyatt Lee, CFA is a Vice President and Portfolio Manager at T. Rowe Price. Mr. Lee became chairman of the committee in 2011. He joined the Firm in 1999 and his investment experience dates from 1997.

Kimberly DeDominicis


Start Date

Tenure

Tenure Rank

Jul 26, 2021

0.85

0.9%

Ms. DeDominicis originally joined T. Rowe Price in 1998 and returned to the Firm in 2003. Her investment experience dates from 1999. Ms. DeDominicis has served as an associate portfolio manager for the target date strategies during the past five years.

Andrew Jacobs van Merlen


Start Date

Tenure

Tenure Rank

Jul 26, 2021

0.85

0.9%

Andrew Jacobs van Merlen is a Vice President of T. Rowe Price Group. Mr. Jacobs van Merlen earned a BS in finance from the University of Maryland and an MBA in sustainable business from the University of Cambridge. He also has earned the Chartered Financial Analyst designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 17.59 5.65 2.41