# T. Rowe Price Retirement 2040 Fund (TRRDX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/trrdx 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: 2002-10-01 This fund strategically allocates its capital across a diverse range of T. Rowe Price's proprietary equity and fixed-income mutual funds, providing exposure to various asset classes and economic sectors. The portfolio's composition among these underlying funds will be progressively adjusted, becoming more conservative as it approaches its designated target retirement year. Tailored for investors anticipating retirement around 2040, its management strategy is built upon an assumed retirement age of 65. ## Key Facts | Metric | Value | |---|---| | Price | $38.01 | | Expense Ratio | 0.59% | | AUM (All Share Classes) | $26.39B | | NAV | $38.01 | | Holdings Count | — | | Distribution Yield (TTM) | 3.95% | | Annual Distribution (TTM) | $1.50 /share | | Distribution Frequency | Annual | | 52-Week Range | $33.26 – $39.01 | | Beta | 1.15 | ## Latest Distribution - Amount: $1.5021 /share - Ex-date: 2025-12-19 - Pay date: 2025-12-22 ## Frequently Asked Questions ### What does TRRDX invest in? This fund strategically allocates its capital across a diverse range of T. Rowe Price's proprietary equity and fixed-income mutual funds, providing exposure to various asset classes and economic sectors. The portfolio's composition among these underlying funds will be progressively adjusted, becoming more conservative as it approaches its designated target retirement year. Tailored for investors anticipating retirement around 2040, its management strategy is built upon an assumed retirement age of 65. ### What is the expense ratio of TRRDX? T. Rowe Price Retirement 2040 Fund (TRRDX) charges an expense ratio of 0.59%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is TRRDX? T. Rowe Price Retirement 2040 Fund (TRRDX) is one share class of a fund that manages $26.39B across all of its share classes (PARDX, RRTDX report 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 TRRDX actively managed or an index fund? TRRDX is actively managed: the manager selects holdings rather than tracking an index. Active funds typically charge higher expense ratios than index funds (TRRDX's is 0.59%) in exchange for the discretion to over- or under-weight positions. ### When was TRRDX launched? T. Rowe Price Retirement 2040 Fund (TRRDX) launched in October 2002 and is managed by T. Rowe Price. ### How has TRRDX performed? TRRDX'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 TRRDX pay a dividend? T. Rowe Price Retirement 2040 Fund (TRRDX) currently distributes little or no income. Trailing-twelve-month yield is 3.95%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does TRRDX pay dividends? T. Rowe Price Retirement 2040 Fund pays dividends Annual. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is TRRDX's dividend yield? TRRDX's trailing-twelve-month yield is 3.95%, calculated from the sum of dividends over the past year divided by the current price. ### When is TRRDX's next ex-dividend date? The most recently announced ex-dividend date for TRRDX was 2025-12-19. The next ex-date typically follows Annual; once announced it appears at the top of the dividend history table on this page. ### How much will TRRDX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.59% 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 TRRDX charge its expense ratio? The expense ratio is deducted in tiny daily slices from TRRDX'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 TRRDX cost more than a fund like VOO? TRRDX is actively managed (current expense ratio 0.59%). 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 TRRDX's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to TRRDX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as TRRDX (0.59%) 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/trrdx - Distribution history: https://www.dividenddata.com/funds/trrdx/dividend - Holdings & diversification: https://www.dividenddata.com/funds/trrdx/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/trrdx/expenses - Peer comparison: https://www.dividenddata.com/funds/trrdx/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.