- Performance & Expenses
- Morningstar Information
- Underlying Funds
To offer high total return consistent with the Fund’s current asset allocation.
Principal Investment Strategies
The Fund invests in a combination of other Vantagepoint Funds and one or more third party exchange-traded funds (“ETFs”) using an asset allocation strategy designed for investors who expect to begin making gradual withdrawals from the Fund, typically at or after retirement (assumed to occur at age 60), in or around the year 2040. The Fund invests in a combination of equity, fixed income, and multi-strategy investments that the Fund’s investment adviser believes to be appropriate. Multi-strategy investments generally include asset classes and strategies that seek to provide additional diversification from traditional stocks and bonds. Examples may include convertible securities, derivative-based strategies, and real estate investment trusts (REITs), among others. As time elapses, the Fund’s allocation to equity and multi-strategy investments decreases and the Fund’s allocation to fixed income investments increases so that by June 30 of the year 2050 (10 years after the year indicated in the Fund’s name), the Fund’s net assets will be invested approximately 30% in equity funds, 63% in fixed income funds, and 7% in the multi-strategy fund.
The Fund’s allocation will change over time. The Fund invests in the following funds at target allocations within the current ranges indicated:
|Vantagepoint Core Bond Index Fund||0% - 10%|
|Vantagepoint High Yield Fund||0% - 6%|
|Vantagepoint Equity Income Fund||17% - 27%|
|Vantagepoint Growth & Income Fund||7% - 17%|
|Vantagepoint Growth Fund||7% - 17%|
|Vantagepoint Select Value Fund||0% - 6%|
|Vantagepoint Mid/Small Company Index Fund||5% - 15%|
|Vantagepoint Aggressive Opportunities Fund||0% - 6%|
|Vantagepoint Discovery Fund||0% - 6%|
|Vantagepoint International Fund||12% - 22%|
|Third Party Emerging Markets ETF||0% - 5%|
|Vantagepoint Diversifying Strategies Fund||10% - 20%|
Subject to the supervision of the Fund’s Board of Directors, the Fund’s investment adviser may, at its discretion, increase or decrease the target allocations to the underlying funds. The Fund’s investment adviser monitors the Fund’s allocations and will “rebalance” its portfolio as necessary to return the Fund to, or close to, the intended asset allocation.
The Fund is designed to “age” so that its asset allocation becomes more conservative over time until it achieves a final constant asset allocation approximately 10 years after the year 2040. This is intended to reduce investment risk as investors move towards and into retirement.
All percentages referred to above are based on the Fund’s net assets. The Fund invests in T Shares of the underlying Vantagepoint Funds.
This Fund may be appropriate for you if you plan to begin making gradual withdrawals from the Fund, typically at or after your retirement, in or around the year 2040.
The Fund is not a complete solution for all of your retirement savings needs. An investment in the Fund includes the risk of loss, including near, at or after the target date of the Fund. There is no guarantee that the Fund will provide adequate income at and through an investor’s retirement. Selecting the Fund (or any Vantagepoint Fund) does not guarantee that you will have adequate savings for retirement.
Principal Investment Risks
There is no guarantee that the Fund will achieve its investment objective.
You may lose money by investing in the Fund.
The Fund’s principal investment risks include Asset Allocation Risk, Investing in Other Investment Companies, ETF Risks, Stock Market Risk, Foreign Securities Risk, Emerging Markets Securities Risk, High Yield Securities Risk, Small-Cap Securities Risk, Mid-Cap Securities Risk, Equity Income/Interest Rate Risk, Interest Rate Risk, Credit Risk, Asset-Backed Securities Risk, Convertible Securities Risk, Derivative Instruments Risk, Indexing Risk.
Please see the Risk Glossary for additional information about the Fund’s risks.
Performance & Expenses
|Fund/Benchmark Name||Qtr||YTD||1-Yr||3-Yr||5-Yr||10-Yr||Since Inception|
|Vantagepoint Milestone 2040||1.62%||2.26%||-3.06%||6.47%||7.06%||5.40%||N/A|
|S&P 500 Indexa,b||3.85%||7.84%||15.43%||11.16%||16.37%||7.24%||N/A|
|Morningstar Target-Date 2040b,d||4.39%||7.07%||11.07%||5.54%||10.39%||4.60%||N/A|
Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, visit www.icmarc.org.
Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.
a. The S&P 500 Index consists of 500 companies representing larger capitalization stocks traded in the U.S.
b. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2016 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed and (3) is not warranted to be accurate, complete or timely. Neither Morningstar and/or its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.
c. The custom benchmark is comprised of the BofA Merrill Lynch 1-3 Year US Corporate & Government Index, Bloomberg Barclays U.S. Aggregate Bond Index, S&P 500 Index, Russell 2000® Index, and MSCI ACWI ex USA Index (Net) in weighted percentages that correspond to the historical target allocations for the asset classes these indexes represent.
d. The Fund’s Morningstar Category Average is a group of funds with similar investment objectives and strategies and is the equal-weighted return of all funds per category. Morningstar places funds in certain categories based on a fund’s historical portfolio holdings.
|Record Date||Ex/Payable Date||Income/Capital Gains Paid Per Share|
|Jul 29, 2016||Jul 29, 2016||$0.651360000|
|Dec 31, 2015||Dec 31, 2015||$1.217360000|
|Dec 31, 2014||Dec 31, 2014||$1.601194000|
|Dec 31, 2013||Dec 31, 2013||$0.686734000|
|Dec 31, 2012||Dec 31, 2012||$0.211298000|
|Dec 30, 2011||Dec 30, 2011||$0.171430000|
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, fee waivers, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. For funds with loads, the Morningstar rating on a load-waived basis is provided, when available. Load-waived ratings do not include any front- or back-end sales loads and are intended for investors that have access to such purchase terms. Funds with loads are waived for plans administered by ICMA-RC. Past performance is no guarantee of future results.
|Equity Stylebox||Fixed Income Stylebox|
|Type of Asset||Percent|
Due to rounding, percentages shown may not add up to 100%.
Due to rounding, percentages shown may not add up to 100%.
|Cash & Equivalents||-0.6%|
Exposure reflects fixed income securities only and will sum to the fixed income exposure of the fund.
Due to rounding, percentages shown may not add up to 100%. Exposure reflects fixed income securities only.
|Vantagepoint Core Bond Index Fund|
|Investment Objective:||To offer current income by approximating the performance of the Barclays U.S. Aggregate Bond Index.|
|Vantagepoint High Yield Fund|
|Investment Objective:||To seek current income and capital appreciation.|
|Vantagepoint Equity Income Fund|
|Investment Objective:||To offer long-term capital growth with consistency derived from dividend yield.|
|Vantagepoint Growth & Income Fund|
|Investment Objective:||To offer long-term capital growth and current income.|
|Vantagepoint Growth Fund|
|Investment Objective:||To offer long-term capital growth.|
|Vantagepoint Select Value Fund|
|Investment Objective:||To offer long-term growth from dividend income and capital appreciation.|
|Vantagepoint Aggressive Opportunities Fund|
|Investment Objective:||To offer high long-term capital appreciation.|
|Vantagepoint Mid/Small Company Index Fund|
|Investment Objective:||To offer long-term capital growth by approximating the performance of the Russell 2500™ Index.|
|Vantagepoint Discovery Fund|
|Investment Objective:||To offer long-term capital growth.|
|Vantagepoint International Fund|
|Investment Objective:||To offer long-term capital growth and diversification by country.|
|Vanguard FTSE Emerging Markets ETF Shares|
|Investment Objective:||See Prospectus|
|Vantagepoint Diversifying Strategies Fund|
|Investment Objective:||Long-term capital growth|
Please read the fund's prospectus carefully for a complete summary of all fees, expenses, financial highlights, investment objectives and strategies, risks and performance information. The prospectus contains this and other information about the investment company. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus before investing. You can obtain a prospectus, statement of additional information and other information about the Vantagepoint Funds online at www.icmarc.org/vpprospectus, by calling 800-669-7400 or emailing email@example.com. The Vantagepoint Funds are distributed by ICMA-RC Services LLC, a wholly owned broker-dealer subsidiary of ICMA-RC and member FINRA/SIPC.
The Fund is not a complete solution for all of your retirement savings needs. An investment in the Fund includes the risk of loss, including near, at or after the target date of the Fund. There is no guarantee that the Fund will provide adequate income at and through an investor's retirement.
The source for this information is Morningstar, Inc. Copyright © 2016 Morningstar, Inc.® All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Morningstar, Inc. is a global investment research firm that is not affiliated with ICMA-RC. ICMA-RC does not independently verify Morningstar data.
Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.