1Vanguard and Morningstar, as of March 31, 2023. Vanguard is the largest target-date fund manager in the industry.
2Vanguard Target Retirement Funds average expense ratio: 0.08%. Industry average expense ratio for comparable target-date funds: 0.48%. All averages are asset-weighted. Industry average excludes Vanguard. Sources: Vanguard and Morningstar, Inc., as of December 31, 2022.
3Source: Vanguard, How America Saves 2020.
4Sources: Vanguard and Morningstar, Inc., as of March 31, 2023. Our Target Retirement Funds with a 10-year track record or longer (2060 and earlier vintages in Investor Shares), on average, ranked in the top 17% among peer groups for 10-year returns through early-2023. Vanguard Target Retirement Income Fund ranked 31% out of 73 peers; 2020 Fund, 12% out of 51; 2025 Fund, 16% out of 94; 2030 Fund, 19% out of 95; 2035 Fund, 26% out of 90; 2040 Fund, 19% out of 87; 2045 Fund, 15% out of 90; 2050 Fund, 16% out of 87; 2055 Fund, 19% out of 72; and 2060 Fund, 1% out of 7. The average ranking among the funds was 17.4%. Only competing funds with a 10-year history were included. Results will vary in other time periods. 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 www.vanguard.com/performance.
5Morningstar, Target-Date Strategy Landscape, 2022.
6 Forbes Advisor, The Best Target Date Funds for Retirement, 2022.
7Vanguard is investor-owned, meaning the fund shareholders own the funds, which in turn own Vanguard.