Fund Facts  

Inception Date: Jun 26, 2015
Ticker Symbol: VRIVX
Morningstar Category:Target-Date 2025
As of Jun 30, 2016
Fund Net Assets ($millions) $12,081

Documents for Fund or Underlying Fund(s)  

Description

Objective  

The investment seeks to provide capital appreciation and current income consistent with its current asset allocation.

Principal Investment Strategies  

The fund invests in other Vanguard mutual funds according to an asset allocation strategy designed for investors planning to retire and leave the workforce in or within a few years of 2025 (the target year). As of September 30, 2015, the fund's asset allocation among the underlying funds was as follows: Vanguard Total Stock Market Index Fund 40.2%; Vanguard Total International Stock Index Fund 26.7%; Vanguard Total Bond Market II Index Fund 23.2%; Vanguard Total International Bond Index Fund 9.9%.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Fund’s prospectus or other disclosure documents for information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Jun 30, 2016
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Vanguard Instl Tgt Retire 2025a1.96%3.57%0.81%N/AN/AN/A-0.39%
MSCI US Broad Market Index (Gross)a,b2.64%3.57%2.09%11.18%11.65%7.57%N/A
Morningstar Target-Date 2025a,c2.00%3.17%-0.10%5.63%5.65%4.46%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.

Annual Fund Operating Expenses
Total Expensesa0.10%

 

a. 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.

b. The MSCI US Broad Market Index (Gross) represents the universe of companies in the U.S. equity market, including large, mid, small and micro cap companies. This index targets for inclusion 99.5% of the capitalization of the U.S. equity market. Gross total return indexes reinvest as much as possible of a company’s dividend distributions. The reinvested amount is equal to the total dividend amount distributed to persons residing in the country of the dividend-paying company. Gross total return indexes do not, however, include any tax credits.

c. 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.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Dec 29, 2015Dec 29, 2015$0.166000000
 

Morningstar Information

Morningstar Rating   As of Jun 30, 2016
Period Stars Category Size
Overall N/A N/A
3-Year N/A N/A
5-Year N/A N/A
10-Year N/A N/A
 
Morningstar Stylebox As of Jun 30, 2016
Equity Stylebox Fixed Income Stylebox
Large BlendMedium Moderate
Allocation of Assets As of May 31, 2016
Type of Asset Percent
Equity65%
Fixed Income32%
Cash/Other2%

Due to rounding, percentages shown may not add up to 100%.

 
 

Characteristics

Allocation of Assets As of May 31, 2016
Asset ClassPercent
Domestic Stock39.7%
Foreign Stock25.7%
Domestic Bond20.7%
Foreign Bond11.5%
Preferred0.0%
Convertible0.0%
Cash1.3%
Other1.1%

Due to rounding, percentages shown may not add up to 100%.

 
Fixed Income Sector As of May 31, 2016
SectorPercent
Government17.6%
Corporate8.2%
Securitized5.6%
Cash & Equivalents1.2%
Municipal0.2%

Exposure reflects fixed income securities only and will sum to the fixed income exposure of the fund.

 
Credit Quality As of Apr 30, 2016
Quality LevelPercent
AAA55.1%
AA11.1%
A17.8%
BBB16.0%
BB0.0%
B0.0%
Below B0.0%
Not Rated0.0%

Due to rounding, percentages shown may not add up to 100%. Exposure reflects fixed income securities only.

 
Top Ten Holdings As of May 31, 2016
Holding NamePercent
Vanguard Total Stock Market Idx I39.9%
Vanguard Total Intl Stock Index Inv26.3%
Vanguard Total Bond Market II Idx Inv23.7%
Vanguard Total Intl Bd Idx Admiral™10.0%
 

Statistics

Portfolio Statistics As of Jun 30, 2016
Statistic3-Year5-Year
BetaN/AN/A
AlphaN/AN/A
Standard DeviationN/AN/A
 
 

Footnotes

1.

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.

2.

Please read the fund's prospectus carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus before investing. You may contact us to obtain a prospectus or to answer questions by calling 800-669-7400, emailing investorservices@icmarc.org, or visiting www.icmarc.org.

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.