# T. Rowe Price Spectrum Moderate Allocation Fund I Class (TPPAX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/tppax for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: T. Rowe Price · Asset class: Equity - Strategy: Actively Managed · Inception: 2016-03-24 This fund aims to achieve the highest possible overall return over the long term, focusing on a balanced approach that emphasizes both the growth of capital and the generation of income. It invests in a diversified mix of assets, typically allocating about 60% to stocks, 35% to bonds, money market instruments, and cash, and 5% to alternative investments, potentially including hedge funds. Under normal market conditions, its exposure to these broad asset classes will stay within the following ranges: 50-70% in stocks, 25-45% in bonds, money market securities, and cash reserves, and 0-10% in... ## Key Facts | Metric | Value | |---|---| | Price | $26.59 | | Expense Ratio | 0.62% | | AUM (All Share Classes) | $2.06B | | NAV | $26.59 | | Holdings Count | — | | Distribution Yield (TTM) | 8.03% | | Annual Distribution (TTM) | $2.14 /share | | Distribution Frequency | Quarterly | | 52-Week Range | $24.34 – $27.28 | | Beta | 0.88 | ## Latest Distribution - Amount: $0.1193 /share - Ex-date: 2026-09-28 - Pay date: 2026-09-29 ## Frequently Asked Questions ### What does TPPAX invest in? This fund aims to achieve the highest possible overall return over the long term, focusing on a balanced approach that emphasizes both the growth of capital and the generation of income. It invests in a diversified mix of assets, typically allocating about 60% to stocks, 35% to bonds, money market instruments, and cash, and 5% to alternative investments, potentially including hedge funds. Under normal market conditions, its exposure to these broad asset classes will stay within the following ranges: 50-70% in stocks, 25-45% in bonds, money market securities, and cash reserves, and 0-10% in alternative investments. ### What is the expense ratio of TPPAX? T. Rowe Price Spectrum Moderate Allocation Fund I Class (TPPAX) charges an expense ratio of 0.62%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is TPPAX? T. Rowe Price Spectrum Moderate Allocation Fund I Class (TPPAX) is one share class of a fund that manages $2.06B across all of its share classes (TRPBX reports the same total). Our data does not carry the assets of this share class alone. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is TPPAX actively managed or an index fund? TPPAX is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (TPPAX's is 0.62%) in exchange for the discretion to over- or under-weight positions. ### When was TPPAX launched? T. Rowe Price Spectrum Moderate Allocation Fund I Class (TPPAX) launched in March 2016 and is managed by T. Rowe Price. ### How has TPPAX performed? TPPAX's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does TPPAX pay a dividend? T. Rowe Price Spectrum Moderate Allocation Fund I Class (TPPAX) currently distributes little or no income. Trailing-twelve-month yield is 8.03%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does TPPAX pay dividends? T. Rowe Price Spectrum Moderate Allocation Fund I Class pays dividends Quarterly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is TPPAX's dividend yield? TPPAX's trailing-twelve-month yield is 8.03%, calculated from the sum of dividends over the past year divided by the current price. ### When is TPPAX's next ex-dividend date? The most recently announced ex-dividend date for TPPAX was 2026-09-28. The next ex-date typically follows Quarterly; once announced it appears at the top of the dividend history table on this page. ### How much will TPPAX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.62% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does TPPAX charge its expense ratio? The expense ratio is deducted in tiny daily slices from TPPAX's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does TPPAX cost more than a fund like VOO? TPPAX is actively managed (current expense ratio 0.62%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether TPPAX's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to TPPAX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as TPPAX (0.62%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/tppax - Distribution history: https://www.dividenddata.com/funds/tppax/dividend - Holdings & diversification: https://www.dividenddata.com/funds/tppax/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/tppax/expenses - Peer comparison: https://www.dividenddata.com/funds/tppax/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.