Targeet-date strategies for where you want to go

Discover the Vanguard difference.

Your destination is our destination

30 million owners. 0 outside shareholders.

30 million owners. 0 outside shareholders.

At Vanguard, our interests are uniquely aligned with yours. We're the only investment firm owned by our investors, so we don't have to worry about our stock price or pleasing outside shareholders.*

We're with you every step of the way as you help your participants chart the course toward the retirement life they want.

* Investors own the funds that own Vanguard.

Check out the target-date lineup

Performance that drives results

"The funds in the series topped roughly 80% of peers, on average, over the trailing 10-, 5-, and 3-year periods through January 2021."

—Morningstar1

Chart shows that Vanguard Target Retirement Funds have higher risk-adjusted annualized returns than Morningstar peer group averages.

Standardized performance information:
Vanguard Target Retirement Income Fund
Vanguard Target Retirement 2050 Fund

Results will vary for other time periods. All funds in the Morningstar peer group with a minimum 3-, 5-, or 10-year history, respectively, were included in the comparison. There may be other material differences between products that must be considered prior to investing. Note that the competitive performance data shown represent past performance, which is not a guarantee of future results, and that all investments are subject to risks. For the most recent performance, visit our website at vanguard.com/performance.

Source: Morningstar; data as of June 30, 2021.
Note: Vanguard Investor Shares highlighted.

Designed for all investors with…

80% of participants are invested in a TDF.

…a glide path that helps you plan your retirement journey…
With 80% of participants invested in a TDF, you need an investment partner you can count on to help participants solve the retirement income puzzle.

Our target-date strategies powerfully blend investment and behavioral research to help give all investors the best chance of generating lasting retirement income. The glide path starts with a high equity allocation to capitalize on the growth potential of stocks. It gradually increases the fixed income allocation to reduce volatility as participants approach retirement.

We constantly test our assumptions and models. It's a level of due diligence that we believe you won't get from any other provider.

Chart showing the glide path for the Vanguard Target Retirement Funds.
Chart showing the glide path for the Vanguard Target Retirement Funds.
Glide path starts with an initial allocation of 90% equities and 10% fixed income and takes people through retirement to land at 30% equities and 70% fixed income at age 72. The chart also shows how glide path allocations change over time for U.S. stocks, international stocks, U.S. nominal bonds, international bonds and short-term Treasury Inflation-Protected Securities, or TIPS. The initial 90% equity allocation in the Vanguard Target Retirement Funds' glide path is split, with 60% going to U.S. stocks and 40% to international stocks. The initial 10% fixed-income allocation is split, with 70% going to U.S. nominal bonds and 30% to international nominal bonds.

** Target date is the year stated in the fund name. Target retirement allocations are based on a projected age of 65.
Source: Vanguard.

…unmatched diversification…
Vanguard Target Retirement strategies span the globe with the industry's most diversified mix of stocks and bonds.

Vanguard Target Retirement Funds cover 89% of global liquid markets, compared to 67% for BlackRock and 67% for Fidelity.

Sources: FactSet, Fidelity, BlackRock. Stock market measured by FactSet Data (MSCI US Broad Market Free Float, MSCI ACWI ex USA IMI). Bond market measured by FactSet (Bloomberg Barclays Global Aggregate ex-USD, U.S. Aggregate Float Adjusted, Global High Yield, EM Hard Currency Aggregate). Commodities market measured by FactSet. Data as of March 31, 2021.

…and results that improve investor behavior and asset allocations
Vanguard Target Retirement Fund investors were more likely to stick with their investment plan during the market volatility of early 20203 and less likely to have extreme asset allocations over the long run compared with do-it-yourself investors.4

Helping participants to and through their retirement journey

Vanguard Target Retirement Funds and Trusts not only help participants with accumulating enough assets to retire but also help them through retirement. There are investment strategy options for varied income goals and situations, all part of our self-directed retirement income offer that also includes spending services and participant guidance to help convert savings into a customized retirement paycheck.

Because there is no one-size-fits-all solution for decumulation, our multifaceted retirement income solution also includes a range of advice offers for participants with more complex situations or who prefer the personal guidance of a trusted professional.

Financial well-being starts with Vanguard Target Retirement strategies. Call 800-523-1036 to learn more.

For more information about any fund, visit institutional.vanguard.com or call 800-523-1036 to obtain a prospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information are contained in the prospectus; read and consider it carefully before investing.

All investing is subject to risk, including the possible loss of the money you invest. Diversification does not ensure a profit or protect against a loss.

The Vanguard collective trusts are not mutual funds. They are collective trusts available only to tax-qualified plans and their eligible participants. The collective trust mandates are managed by Vanguard Fiduciary Trust Company, a wholly owned subsidiary of The Vanguard Group, Inc. Investment objectives, risks, charges, expenses, and other important information should be considered carefully before investing.

There is no guarantee that any particular asset allocation or mix of funds will meet your investment objectives or provide you with a given level of income.

Investments in Target Retirement Funds are subject to the risks of their underlying funds. The year in the fund name refers to the approximate year (the target date) when an investor in the fund would retire and leave the workforce. The fund will gradually shift its emphasis from more aggressive investments to more conservative ones based on its target date. The Income Trust and Income and Growth Trust have fixed investment allocations and are designed for investors who are already retired. An investment in the Target Retirement Fund is not guaranteed at any time, including on or after the target date.

1 Source: Morningstar Target-Date Fund Series Report, as of March 3, 2021. The funds in the Vanguard Target Retirement Fund series topped roughly 80% of peers, on average, over the trailing 10-, 5-, and 3-year periods through January 2021. Results will vary for other time periods.
2 Vanguard, How America Saves 2021.
3 Vanguard data for February 1, 2020–March 20, 2020.
4 Source: Vanguard, 2021. Based on 1,000 random samples of participant accounts for the five-year period ended December 31, 2020.