*The highest Vanguard Investor Target Retirement Fund expense ratio before the mergers: 0.15%. All Vanguard Target Retirement Fund expense ratios after the mergers: 0.08%.
**Vanguard is investor-owned, meaning the fund shareholders own the funds, which in turn own Vanguard.
***Vanguard Target Retirement Funds average expense ratio as of December 31, 2021: 0.11%. Vanguard Target Retirement Funds expense ratio as of February 14, 2022: 0.08%. Industry average expense ratio for comparable target-date funds as of December 31, 2021: 0.49%. All averages are asset-weighted. Industry average excludes Vanguard. Sources: Vanguard and Morningstar.
†Forbes Advisor, The Best Target Date Funds for Retirement, 2022.
††Sources: Vanguard and Morningstar, Inc. Our Target Retirement Funds with a 10-year track record or longer (2055 and earlier vintages in Investor Shares), on average, ranked in the top 25% among peer groups for 10-year returns through mid-2021. Vanguard Target Retirement Income Fund ranked 19% out of 111 peers; 2015 Fund, 57% out of 69; 2020 Fund, 16% out of 97; 2025 Fund, 15% out of 131; 2030 Fund, 21% out of 124; 2035 Fund, 27% out of 126; 2040 Fund, 28% out of 124; 2045 Fund, 18% out of 125; 2050 Fund, 19% out of 122; and 2055 Fund, 28% out of 84. The average ranking among the funds was 24.8%. Only competing funds with a 10-year history were included. Results will vary in other time periods. There may be other material differences between products that must be considered before 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. 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. See the most recent performance.