Target Retirement 2015 Trust Plus 

 
 

OPTIONS as of
03/31/2013

Options Expense ratio Minimum
Trust Note

Pricing flexibility is available. For information about fees, contact your Vanguard representative, or call 800-523-1036.

Note

For information about minimums, contact your Vanguard representative, or call 800-523-1036.

About our options  


 

Fees

Purchase fee:

A fee charged by some mutual funds when an investor buys shares. This fee is not a sales charge or load because it is paid directly to the fund to offset the costs of trading certain securities.

 None
Redemption fee:

A fee charged by some mutual funds when an investor sells shares. A redemption fee differs from a back-end load because the money is paid back into the fund. Many funds charge redemption fees only when shares are bought and then sold within a specific period of time, generally in an effort to discourage market-timing and short-term trading. Some brokers also charge their clients redemption fees for the sale of securities.

 None

KEY FACTS

Designation: Target-Date 2011-2015
Inception on 08/15/2011
$2.6 billion net assets for
1652
 as of 03/31/2014
Benchmarked to the Target Retirement 2015 Composite Ix
Turnover rate (Fiscal year-end  03/31/2014) 9.55%

Investment approach



  • Simple fund of funds structure seeks to build appropriate asset allocation from preselected stock and bond portfolios.
  • The allocation between funds and asset classes automatically becomes more conservative over time.
  • The trust handles investment selection, asset allocation, and rebalancing through retirement.
  • 100% of assets invested in index funds.
 

Total returns

View as:

as of 03/31/2014

15%
10
5
0%
 
 
  1 year 3 year 5 year 10 year Since inception

08/15/2011

NAV 
10.06% 10.58%
Benchmark

Target Retirement 2015 Composite Index

*
10.28%

Note: Fee adjusted for mutual funds where applicable.

* Derived by applying the fund’s target asset allocation to the results of the following benchmarks: for international stocks of developed markets, the MSCI EAFE Index through December 15, 2010, the MSCI ACWI ex USA IMI Index through June 2, 2013, and the FTSE Global All Cap ex US Index thereafter; for emerging-market stocks, the Select Emerging Markets Index through August 23, 2006, the MSCI Emerging Markets Index through December 15, 2010, the MSCI ACWI ex USA IMI Index through June 2, 2013, and the FTSE Global All Cap ex US Index thereafter; for U.S. bonds, the Barclays U.S. Aggregate Bond Index through December 31, 2009, and the Barclays U.S. Aggregate Float Adjusted Index thereafter, as well as the Barclays U.S. Treasury Inflation Protected Securities Index through June 2, 2013, and the Barclays U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index thereafter; for international bonds, the Barclays Global Aggregate ex-USD Float Adjusted RIC Capped Index beginning June 2, 2013; and for U.S. stocks, the Dow Jones U.S. Total Stock Market Index (formerly known as the Dow Jones Wilshire 5000 Index) through April 22, 2005, the MSCI US Broad Market Index through June 2, 2013, and the CRSP US Total Market Index thereafter. International stock benchmark returns are adjusted for withholding taxes.

The performance data shown represent past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, so investors' shares, when sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data cited.


People and process

Firms

Vanguard Equity Investment Group

Product management

Vanguard Target Retirement 2015 Trust Plus uses an asset allocation strategy designed for investors planning to retire between 2013 and 2017. The trust seeks to provide growth of capital and current income consistent with its current target allocation by investing in a gradually more conservative mix of the following Vanguard funds: Total Stock Market Index Fund, Total Bond Market II Index Fund, Total International Bond Index Fund, Short-Term Inflation-Protected Securities Index Fund, and Total International Stock Index Fund. The combination of funds produces a portfolio that is diversified by asset class and holdings.Vanguard Target Retirement 2015 Trust Plus is one of a series of Vanguard life-cycle funds that use a targeted maturity approach as a simplified way to meet investors’ different objectives, time horizons, and changing risk tolerances. As your retirement date approaches, the trust ’s allocation will grow more conservative and will invest more in the Vanguard Short-Term Inflation-Protected Securities Index Fund to provide a hedge against inflation while dampening the overall volatility of the portfolio. In this regard, the trust diversifies both stock and conventional bond exposure. Within seven years after 2015, the trust’s asset allocation should resemble that of the Target Retirement Income Trust Plus.

Firm and manager details  

Asset allocation as of 03/31/2014

Asset class 1652
 Stock 51.83%
 Bond 47.99%
 Short-term reserves 0.18%
Total 100.00%

Allocation to underlying funds  as of 03/31/2014

Rank Fund % of fund
1

Total Stock Market Index Fund

36.30%
2

Total Bond Market II Index Fund

32.10%
3

Total International Stock Index Fund

15.60%
4

Total International Bond Index Fund

9.60%
5

Short-Term Inflation-Protected Securities Index Fund

6.40%
Total 100.00%

Risk and volatility as of 03/31/2014

  1652 Benchmark

Target Retirement 2015 Composite Index

R-squared N/A
Beta N/A
Alpha N/A
Standard deviation 7.70%
Sharpe ratio 1.05

Risk and volatility are based on the share class with the earliest inception date.

Risk measures are calculated from trailing 36-month fund returns relative to the associated benchmarks.

Risk and volatility information is not available for a fund less than 3 years old.

The trust is subject to several stock and bond market risks, any of which could cause an investor to lose money. However, based on the trust’s current allocation between stocks and the less volatile asset class of bonds, the trust’s overall level of risk should be higher than those trusts that invest mostly in bonds, but lower than those investing mostly in stocks. As the trust’s allocation between underlying funds gradually changes, the trust’s overall level of risk also will decline. In addition to the risks inherent in the asset classes of the underlying funds, the trust also is subject to asset allocation risk, which is the chance that the selection of underlying funds and the allocation of fund assets will cause the trust to underperform other trusts with a similar investment objective. Investments in Target Retirement Trusts are subject to the risks of their underlying funds. The year in the trust name refers to the approximate year 2015 when an investor in the trust would retire and leave the work force. The trust will gradually shift its emphasis from more aggressive investments to more conservative ones based on its target date. An investment in the Target Retirement Trust is not guaranteed at any time, including on or after the target date.



    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 work force. The Fund will gradually shift its emphasis from more aggressive investments to more conservative ones based on its target date. An investment in the Target Retirement Fund is not guaranteed at any time, including on or after the target date.
     
     
     
     

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