Fund Evaluator:
T. Rowe Price Retirement Income 2025 Inv (TRAVX)
Follow This Fund
Best Performing in Target-Date 2025 Over the Last Year
| 14.3% | Fidelity Advisor Freedom Blend 2025 Z (FJABX) |
| 13.7% | Fidelity Advisor Sust Trgt Dt 2025 Z (FSWVX) |
| 13.0% | Fidelity Advisor Freedom 2025 Z (FIJMX) |
| 12.9% | Fidelity Advisor Freedom 2025 I (FITWX) |
| 12.6% | Fidelity Freedom Index 2025 Investor (FQIFX) |
Fund Details
T. Rowe Price Retirement Income 2025 Inv Overview
T. Rowe Price Retirement Income 2025 Inv (TRAVX) is an actively managed Allocation Target-Date 2025 fund. T. Rowe Price launched the fund in 2024.
The investment seeks to provide monthly income. The fund pursues its objective(s) by investing in a diversified portfolio of other T. Rowe Price equity and fixed income mutual funds that represent various asset classes and sectors. Its allocation among T. Rowe Price mutual funds will change over time in relation to its target retirement date. 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.
About T. Rowe Price Retirement Income 2025 Inv (TRAVX)
There are 3 members of the management team with an average tenure of 2.54 years: Wyatt Lee (2024), Kimberly DeDominicis (2024), Andrew Jacobs van Merlen (2024). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and S&P Target Date 2025 TR USD index with a weighting of 100%. T. Rowe Price Retirement Income 2025 Inv has 26 securities in its portfolio. The top 10 holdings constitute 70.1% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
T. Rowe Price Retirement Income 2025 Inv is part of the Allocation global asset class and is within the Allocation fund group. T. Rowe Price Retirement Income 2025 Inv has 25.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 37.3%. There is 15.4% allocated to foreign stock, and 0.2% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 40.7% (30.3% domestic bond, 10.4% foreign bond and 0.1% convertible bond). T. Rowe Price Retirement Income 2025 Inv has 5.9% of the portfolio in cash.
Assets Under Management
The fund has $4 million in total assets, which is below the $1 billion average for the Target-Date 2025 category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
TRAVX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The T. Rowe Price Retirement Income 2025 Inv expense ratio is average compared to funds in the Target-Date 2025 category. T. Rowe Price Retirement Income 2025 Inv has an expense ratio of 0.53%, which is 8% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. T. Rowe Price Retirement Income 2025 Inv has a portfolio turnover rate of 29%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 22% for the Target-Date 2025 category.
Recently, in the month of July 2026, T. Rowe Price Retirement Income 2025 Inv returned -0.4%, which earned it a grade of B, as the Target-Date 2025 category had an average return of -0.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
T. Rowe Price Retirement Income 2025 Inv has a trailing yield of 4.11%, which is above the 2.70% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
T. Rowe Price Retirement Income 2025 Inv Grades
Year to date, the fund has returned 6.3%, 0.7 percentage points better than the category, which translates into a grade of B. The fund has returned 12.6% over the past year (grade of B).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about T. Rowe Price Retirement Income 2025 Inv, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
TRAVX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| TRAVX Return (NAV) | -0.4% | 1.9% | 12.6% | na | na | na |
| TRAVX Grade | B | A | B | na | na | na |
| +/- Category | 0.3% | 0.4% | 0.7% | na | na | na |
| Target-Date 2025 Avg | -0.7% | 1.5% | 11.9% | 10.3% | 4.9% | 7.3% |
| TRAVX Tax Cost Ratio | na | na | 2.3% | na | na | na |
TRAVX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TRAVX Return (NAV) | 6.3% | 13.0% | na | na | na | na | na | na | na | na | na |
| TRAVX Grade | B | D | na | na | na | na | na | na | na | na | na |
| +/- Category | 0.7% | -0.7% | na | na | na | na | na | na | na | na | na |
| Target-Date 2025 Avg | 5.6% | 13.7% | 8.3% | 12.9% | -15.3% | 10.3% | 13.0% | 18.8% | -5.5% | 15.4% | 7.0% |
| Risk Measures | |
| Standard Deviation: | na |
| Total Risk Index: | na |
| Category Risk Index: | na |
| Category Risk Grade: | |
| Beta: | na |
| R-Squared: | na |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 4.1% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $25 Mil |
| Fund Total Assets: | $ 5 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 30% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 2.5 years | |||
| Average Tenure: 2.5 years | |||
| Managers (Year): Lee Wyatt (2024), DeDominicis Kimberly (2024), Jacobs van Merlen Andrew (2024) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 26 |
| % in Top 10 Holdings: | 70.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 25.8% |
Portfolio Allocation |
|
| Domestic Stock: | 37.3% |
| Foreign Stock: | 15.4% |
| Preferred Stock: | 0.2% |
| Domestic Bond: | 30.3% |
| Foreign Bond: | 10.4% |
| Convertible Bond: | 0.1% |
| Other: | 0.4% |
| Cash: | 5.9% |
Purchase Information
| Fund Family: | T. Rowe Price |
| Phone Number: | 800-225-5132 |
| Website: | www.troweprice.com |
| Status: | Open |
| Inception Date: | January 17, 2024 |
| Min. Initial Purchase: | $25,000 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.53% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.57% |
| Share Class: | T. Rowe Price Retirement Income 2025 I |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
