T. Rowe Price Retirement Balanced I Fund-I Class
Name
As of 02/14/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
0.1%
1 yr return
7.4%
3 Yr Avg Return
0.9%
5 Yr Avg Return
5.3%
Net Assets
$558 M
Holdings in Top 10
70.4%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.34%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 45.10%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$500,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 02/14/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
TRPTX - Profile
Distributions
- YTD Total Return 0.1%
- 3 Yr Annualized Total Return 0.9%
- 5 Yr Annualized Total Return 5.3%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.26%
- Dividend Yield 1.9%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameT. Rowe Price Retirement Balanced I Fund-I Class
-
Fund Family NameTROWEPRICE
-
Inception DateSep 29, 2015
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerWyatt Lee
Fund Description
Important Note: The fund’s Board of Directors has approved a plan of reorganization pursuant to which the fund will transfer substantially all of its assets and liabilities to the T. Rowe Price Retirement Balanced Fund (the “Acquiring Fund”) in exchange for I Class shares of equal value of the Acquiring Fund (the “Reorganization”).
The fund and the Acquiring Fund have similar investment objectives, investment strategies and policies, investment glide paths and underlying funds, and the contractual management fee schedule for the fund is identical to the contractual management fee schedule applicable to the I Class of the Acquiring Fund. The Reorganization is expected to occur on February 16, 2024, and will be structured as a tax-free exchange for fund shareholders. In connection with the Reorganization, the I Class shares of the Acquiring Fund received in the exchange will be distributed to the fund’s shareholders and the fund will then be liquidated and terminated.
The Reorganization does not require any action or approval by fund shareholders, although shareholders may redeem their shares at any time prior to the Reorganization. While the Reorganization will not be a taxable event, redeeming or exchanging fund shares prior to the Reorganization may be a taxable event depending on your individual tax situation. Detailed information about the Reorganization will be provided to shareholders in an information statement expected to be sent in mid-November 2023.
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 is intended for retired investors who seek income and relative stability from bonds along with some capital appreciation potential from stocks. The fund’s “neutral allocations,” which are what T. Rowe Price considers broadly appropriate for investors during their retirement years, are 40% stock funds and 60% bond funds.
These allocations are intended to reflect the need for reduced market risks, lower portfolio volatility, and an income stream throughout retirement. Although the fund is designed for investors already in retirement, you should be aware that it does not decrease its equity holdings and become increasingly conservative over time. As such, you may want to consider a more conservative or more aggressive approach depending on your age and specific stage of retirement. The fund is designed to be part of an investor’s overall retirement strategy, but is not intended as a complete solution to an investor’s retirement needs. While the overall asset mix generally remains consistent over time, tactical decisions may be 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 by more than plus (+) or minus (-) five percent (5%).
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 October 1, 2023. The numbers may not add to 100% due to rounding. The target allocations and actual allocations may differ. The fund’s shareholder reports set forth its actual allocations between stock funds and bond funds and to the individual T. Rowe Price mutual funds. T. Rowe Price may periodically rebalance or modify the asset mix of the underlying funds and change the underlying fund investments.
Retirement Balanced I Fund—I Class | ||||||
Asset Class | Sector(s) | Neutral Allocation | Underlying Fund(s) | |||
Stocks | 40.00 | % | Hedged Equity | 4.00 | % | Hedged Equity |
Inflation Focused | 2.00 | Real Assets | ||||
International Developed Market | 8.67 | International Stock, | ||||
International Value Equity, and/or | ||||||
Overseas Stock | ||||||
International Emerging Market | 1.53 | Emerging Markets Discovery Stock and/or | ||||
Emerging Markets Stock | ||||||
U.S. Large-Cap | 19.04 | Equity Index 500, | ||||
Growth Stock, | ||||||
U.S. Equity Research, | ||||||
U.S. Large-Cap Core, and/or | ||||||
Value | ||||||
U.S. Mid-Cap | 2.38 | Mid-Cap Growth, | ||||
Mid-Cap Index, and/or | ||||||
Mid-Cap Value | ||||||
U.S. Small-Cap | 2.38 | New Horizons, | ||||
Small-Cap Index, | ||||||
Small-Cap Stock, and/or | ||||||
Small-Cap Value | ||||||
Bonds | 60.00 | Core Fixed Income | 28.00 | Dynamic Global Bond, | ||
International Bond (USD Hedged), and/or | ||||||
New Income | ||||||
Diversifying Fixed Income | 32.00 | Dynamic Credit, | ||||
Emerging Markets Bond, | ||||||
Floating Rate, | ||||||
High Yield, | ||||||
Limited Duration Inflation Focused Bond, | ||||||
U.S. Treasury Long-Term Index, and/or | ||||||
U.S. Treasury Money | ||||||
TRPTX - Performance
Return Ranking - Trailing
Period | TRPTX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.1% | -2.1% | 6.4% | 52.87% |
1 Yr | 7.4% | -3.5% | 20.5% | 29.66% |
3 Yr | 0.9%* | -17.8% | 5.6% | 25.78% |
5 Yr | 5.3%* | -3.6% | 7.9% | 14.03% |
10 Yr | N/A* | 0.4% | 7.3% | N/A |
* Annualized
Return Ranking - Calendar
Period | TRPTX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 7.0% | -1.3% | 27.4% | 40.23% |
2022 | -19.0% | -35.0% | -7.4% | 77.67% |
2021 | 2.9% | -11.5% | 14.6% | 39.29% |
2020 | 7.1% | -10.3% | 40.7% | 15.62% |
2019 | 11.9% | -9.5% | 22.1% | 17.88% |
Total Return Ranking - Trailing
Period | TRPTX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.1% | -2.1% | 6.4% | 52.87% |
1 Yr | 7.4% | -3.5% | 20.5% | 29.66% |
3 Yr | 0.9%* | -17.8% | 5.6% | 25.78% |
5 Yr | 5.3%* | -3.6% | 7.9% | 14.03% |
10 Yr | N/A* | 0.4% | 7.3% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | TRPTX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 11.6% | -1.3% | 28.2% | 18.85% |
2022 | -12.9% | -35.0% | -3.1% | 45.81% |
2021 | 8.5% | -11.5% | 32.0% | 32.62% |
2020 | 11.8% | -5.4% | 40.7% | 16.88% |
2019 | 15.9% | 4.5% | 27.7% | 31.61% |
NAV & Total Return History
TRPTX - Holdings
Concentration Analysis
TRPTX | Category Low | Category High | TRPTX % Rank | |
---|---|---|---|---|
Net Assets | 558 M | 218 K | 51.5 B | 45.21% |
Number of Holdings | 28 | 2 | 5294 | 46.22% |
Net Assets in Top 10 | 415 M | 218 K | 9.52 B | 36.61% |
Weighting of Top 10 | 70.39% | 7.5% | 104.1% | 59.58% |
Top 10 Holdings
- T ROWE PRICE LIMITED DURATION INFLATION FOCUSED BOND FUND 18.85%
- T ROWE PRICE NEW INCOME FUND INC 15.58%
- T ROWE PRICE GROWTH STOCK FUND INC 6.05%
- T ROWE PRICE VALUE FUND INC 5.76%
- T ROWE PRICE INTERNATIONAL BOND FUND - USD HEDGED 5.49%
- T ROWE PRICE HEDGED EQUITY FUND 3.92%
- T ROWE PRICE DYNAMIC GLOBAL BOND FUND 3.77%
- T ROWE PRICE EMERGING MARKETS BOND FUND 3.77%
- T ROWE PRICE EQUITY INDEX 500 FUND 3.65%
- T ROWE PRICE HIGH YIELD FUND INC 3.55%
Asset Allocation
Weighting | Return Low | Return High | TRPTX % Rank | |
---|---|---|---|---|
Stocks | 98.10% | 0.00% | 100.11% | 40.18% |
Cash | 1.90% | -35.68% | 37.58% | 40.73% |
Convertible Bonds | 0.34% | 0.00% | 71.77% | 86.84% |
Preferred Stocks | 0.00% | 0.00% | 21.95% | 38.67% |
Other | 0.00% | -4.26% | 61.73% | 45.54% |
Bonds | 0.00% | 0.00% | 81.41% | 52.74% |
Stock Sector Breakdown
Weighting | Return Low | Return High | TRPTX % Rank | |
---|---|---|---|---|
Technology | 19.54% | 0.22% | 27.92% | 30.70% |
Financial Services | 14.54% | 0.00% | 83.50% | 53.95% |
Healthcare | 13.42% | 0.00% | 24.25% | 43.02% |
Consumer Cyclical | 12.71% | 0.00% | 14.20% | 1.86% |
Industrials | 9.91% | 0.14% | 17.90% | 56.98% |
Communication Services | 9.79% | 0.00% | 11.11% | 3.49% |
Basic Materials | 5.00% | 0.00% | 32.82% | 20.70% |
Consumer Defense | 4.93% | 0.00% | 18.62% | 89.77% |
Real Estate | 4.23% | 0.00% | 43.16% | 61.16% |
Utilities | 3.36% | 0.00% | 48.33% | 46.74% |
Energy | 2.57% | 0.00% | 62.93% | 89.30% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | TRPTX % Rank | |
---|---|---|---|---|
US | 98.10% | 0.00% | 100.11% | 40.27% |
Non US | 0.00% | 0.00% | 22.63% | 41.65% |
TRPTX - Expenses
Operational Fees
TRPTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.34% | 0.06% | 6.58% | 94.75% |
Management Fee | 0.34% | 0.00% | 1.25% | 58.58% |
12b-1 Fee | N/A | 0.00% | 1.00% | 2.70% |
Administrative Fee | 0.15% | 0.01% | 0.70% | 68.22% |
Sales Fees
TRPTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
TRPTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.00% | 2.00% | 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.
TRPTX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 45.10% | 2.00% | 380.00% | 65.51% |
TRPTX - Distributions
Dividend Yield Analysis
TRPTX | Category Low | Category High | TRPTX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.90% | 0.00% | 4.65% | 18.26% |
Dividend Distribution Analysis
TRPTX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Annual | Monthly | Monthly |
Net Income Ratio Analysis
TRPTX | Category Low | Category High | TRPTX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.26% | -1.22% | 6.83% | 74.31% |
Capital Gain Distribution Analysis
TRPTX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Nov 30, 2022 | $0.172 | DailyAccrualFund |
Oct 31, 2022 | $0.011 | DailyAccrualFund |
Sep 30, 2022 | $0.013 | DailyAccrualFund |
Aug 31, 2022 | $0.012 | DailyAccrualFund |
Jul 29, 2022 | $0.011 | DailyAccrualFund |
Jun 30, 2022 | $0.014 | DailyAccrualFund |
May 31, 2022 | $0.011 | DailyAccrualFund |
Apr 29, 2022 | $0.009 | DailyAccrualFund |
Mar 31, 2022 | $0.010 | DailyAccrualFund |
Jan 31, 2022 | $0.007 | DailyAccrualFund |
Dec 31, 2021 | $0.186 | DailyAccrualFund |
Nov 30, 2021 | $0.008 | DailyAccrualFund |
Oct 29, 2021 | $0.008 | DailyAccrualFund |
Sep 30, 2021 | $0.011 | DailyAccrualFund |
Aug 31, 2021 | $0.008 | DailyAccrualFund |
Jul 30, 2021 | $0.008 | DailyAccrualFund |
Jun 30, 2021 | $0.014 | DailyAccrualFund |
May 28, 2021 | $0.008 | DailyAccrualFund |
Apr 30, 2021 | $0.008 | DailyAccrualFund |
Mar 31, 2021 | $0.012 | DailyAccrualFund |
Feb 26, 2021 | $0.006 | DailyAccrualFund |
Jan 29, 2021 | $0.006 | DailyAccrualFund |
Dec 31, 2020 | $0.060 | DailyAccrualFund |
Nov 30, 2020 | $0.007 | DailyAccrualFund |
Oct 30, 2020 | $0.009 | DailyAccrualFund |
Sep 30, 2020 | $0.016 | DailyAccrualFund |
Aug 31, 2020 | $0.008 | DailyAccrualFund |
Jul 31, 2020 | $0.009 | DailyAccrualFund |
Jun 30, 2020 | $0.018 | DailyAccrualFund |
May 29, 2020 | $0.009 | DailyAccrualFund |
Apr 30, 2020 | $0.010 | DailyAccrualFund |
Mar 31, 2020 | $0.023 | DailyAccrualFund |
Feb 28, 2020 | $0.011 | DailyAccrualFund |
Jan 31, 2020 | $0.012 | DailyAccrualFund |
Dec 31, 2019 | $0.066 | DailyAccrualFund |
Nov 29, 2019 | $0.012 | DailyAccrualFund |
Oct 31, 2019 | $0.013 | DailyAccrualFund |
Sep 30, 2019 | $0.022 | DailyAccrualFund |
Aug 30, 2019 | $0.013 | DailyAccrualFund |
Jul 31, 2019 | $0.013 | DailyAccrualFund |
May 31, 2019 | $0.014 | DailyAccrualFund |
Apr 30, 2019 | $0.013 | DailyAccrualFund |
Mar 29, 2019 | $0.024 | DailyAccrualFund |
Feb 28, 2019 | $0.012 | DailyAccrualFund |
Jan 31, 2019 | $0.012 | DailyAccrualFund |
Dec 31, 2018 | $0.058 | DailyAccrualFund |
Nov 30, 2018 | $0.014 | DailyAccrualFund |
Oct 31, 2018 | $0.013 | DailyAccrualFund |
Aug 31, 2018 | $0.013 | DailyAccrualFund |
Jul 31, 2018 | $0.012 | DailyAccrualFund |
Jun 29, 2018 | $0.022 | DailyAccrualFund |
May 31, 2018 | $0.012 | DailyAccrualFund |
Apr 30, 2018 | $0.010 | DailyAccrualFund |
Mar 29, 2018 | $0.018 | DailyAccrualFund |
Feb 28, 2018 | $0.009 | DailyAccrualFund |
Jan 31, 2018 | $0.009 | DailyAccrualFund |
Dec 29, 2017 | $0.049 | DailyAccrualFund |
Nov 30, 2017 | $0.010 | DailyAccrualFund |
Oct 31, 2017 | $0.009 | DailyAccrualFund |
Sep 29, 2017 | $0.021 | DailyAccrualFund |
Aug 31, 2017 | $0.010 | DailyAccrualFund |
Jul 31, 2017 | $0.009 | DailyAccrualFund |
Jun 30, 2017 | $0.021 | DailyAccrualFund |
May 31, 2017 | $0.009 | DailyAccrualFund |
Apr 28, 2017 | $0.009 | DailyAccrualFund |
Mar 31, 2017 | $0.016 | DailyAccrualFund |
Feb 28, 2017 | $0.009 | DailyAccrualFund |
Jan 31, 2017 | $0.009 | DailyAccrualFund |
Dec 30, 2016 | $0.056 | DailyAccrualFund |
Nov 30, 2016 | $0.009 | DailyAccrualFund |
Oct 31, 2016 | $0.008 | DailyAccrualFund |
Sep 30, 2016 | $0.020 | DailyAccrualFund |
Aug 31, 2016 | $0.009 | DailyAccrualFund |
Jul 29, 2016 | $0.008 | DailyAccrualFund |
Jun 30, 2016 | $0.019 | DailyAccrualFund |
May 31, 2016 | $0.008 | DailyAccrualFund |
Apr 29, 2016 | $0.008 | DailyAccrualFund |
Mar 31, 2016 | $0.018 | DailyAccrualFund |
Feb 29, 2016 | $0.008 | DailyAccrualFund |
Jan 29, 2016 | $0.007 | DailyAccrualFund |
Dec 31, 2015 | $0.048 | DailyAccrualFund |
Nov 30, 2015 | $0.008 | DailyAccrualFund |
Oct 30, 2015 | $0.008 | DailyAccrualFund |
Sep 30, 2015 | $0.000 | DailyAccrualFund |
TRPTX - Fund Manager Analysis
Managers
Wyatt Lee
Start Date
Tenure
Tenure Rank
Sep 29, 2015
6.67
6.7%
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
Oct 01, 2019
2.67
2.7%
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
Jan 01, 2020
2.41
2.4%
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 |
---|---|---|---|
0.09 | 28.73 | 6.44 | 2.41 |