Browse everything: Tickers A–Z · Issuers · Comparisons · Tags
TRHDX Mutual Fund — T. Rowe Price Retirement 2040 Fund I Class
T. Rowe Price Retirement 2040 Fund I Class (TRHDX)
Updated October 16, 2026.
Verdict as of October 16, 2026
TRHDX's distribution is rated unproven by the Dividend Vision Distribution Safety Score™ (50/100, low confidence). It pays annual and its distribution rate is 1.63%. The latest total cash payment per current share, $1.57 with an ex-date of December 19, 2025, was 104.3% higher than the previous $0.77. These payments are unclassified; this does not establish a base-dividend change.
Sources: T. Rowe Price, Section 19a-1 notices, scoring methodology.
TRHDX is a Mutual Fund. its distribution rate is 1.63%, its trailing-12-month yield is 4.16%, its expense ratio is 0.42%. Dividend Vision Distribution Safety Score™ is 50/100 (Unproven). Total return is 46.4% over the past 2.6 years, 8.9 points behind SPY at 55.3%.
T. Rowe Price Retirement 2040 Fund I Class is a mutual fund that invests in a diversified portfolio of other T. Rowe Price equity and fixed income mutual funds across various asset classes and sectors, with allocations that shift over time based on its 2040 target retirement date and assumption of a retirement age of 65. The fund carries a modest expense ratio of 0.42% and currently distributes at a low rate. This fund appeals to investors saving for retirement around 2040 who prefer a hands-off approach with automatic asset allocation adjustments as the target date approaches.
TRHDX dividend yield and income
Price as of 2026-10-16.
The distribution rate (1.63%) uses calculation basis unavailable. Trailing-12-month yield (4.16%) is the last year of cash distributions by ex-date divided by the current price. The dividend amount is $1.573. The ex-dividend date is 12/19/2025.
| Ex-date | Amount | Change from previous payment |
|---|---|---|
| 2025-12-19 | $1.573 | 104.3% Unclassified cash |
| 2024-12-20 | $0.77 | — |
| 2024 total | $0.77 | — |
| 2025 total | $1.573 | 104.3% |
TRHDX holdings and sector exposure
Holdings are not available for this snapshot.
TRHDX performance versus SPY
Price and return data through 2026-10-16.
Total return is 46.4% over the past 2.6 years, 8.9 points behind SPY at 55.3%. Over the past year its total return — price change plus distributions reinvested — is 16.6%. Its deepest 1-year drawdown was 8.9%.
| Window | Total return | CAGR |
|---|---|---|
| 1M | 0.2% | — |
| 3M | 0.1% | — |
| 6M | 4.3% | — |
| YTD | 10.0% | — |
| 1Y | 16.6% | — |
| 2Y CAGR | — | 14.60% |
| Since inception (2.6 years) | 46.4% | 15.50% |
TRHDX key facts
- Distribution Safety Score™
- 50 · Unproven
- Issuer
- T. Rowe Price
- Asset type
- Mutual Fund
- Asset class
- Equity
- Expense ratio
- 0.42%
- Distribution rate
- 1.63%
- Distribution frequency
- Annual
- Trailing yield
- 4.16%
- Last close
- $37.81 (as of 2026-10-16)
- NAV
- $36.74 as of 2026-09-30; source eodhd (stale)
- Premium / discount
- N/A (price 2026-10-16, NAV 2026-09-30) (NAV stale)
- AUM
- $23,749,806,080
- Average volume
- 0.0
- Dividend
- $1.573
- Ex-dividend date
- 12/19/2025
- Beta
- 1.12
How Dividend Vision calculates yield and returns
Distribution rate (1.63%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (4.16%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.
Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology
Sources and review
Primary sources: T. Rowe Price; prices and distributions from Dividend Vision, derived from vendor EOD data.
Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.
TRHDX risks and drawbacks
TRHDX's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are annual, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 8.9%.
Who may consider TRHDX — and who may not
It is a weaker fit for investors who need monthly cash flow (TRHDX pays annual); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.
More on TRHDX
Frequently asked questions
Does TRHDX pay monthly?
No. TRHDX currently pays annual, not monthly.
What is TRHDX's expense ratio?
TRHDX's expense ratio is 0.42%.
What is TRHDX's dividend yield?
TRHDX's distribution rate is 1.63%, paid annual, with a 0.42% expense ratio — calculation basis unavailable.
When does TRHDX pay a dividend?
TRHDX pays annual. The dividend amount is $1.573. The ex-dividend date is 12/19/2025.
How has TRHDX performed?
Total return is 46.4% over the past 2.6 years, 8.9 points behind SPY at 55.3%. Over the past year its total return — price change plus distributions reinvested — is 16.6%. Its deepest 1-year drawdown was 8.9%.
Is TRHDX a good investment?
TRHDX's Dividend Vision Distribution Safety Score is 50 (Unproven). That is a risk signal, not investment advice. Its distribution rate is 1.63% (calculation basis unavailable). Compare peers below rather than treating any single figure as a buy or sell.
More securities from T. Rowe Price.
Tickers
Holdings as-of date unavailable.
| Ticker | Name | Weight |
|---|
See how this investment would fit into your portfolio.