Fund Facts  

Inception Date: Oct 27, 2003
Ticker Symbol: VTTHX
Morningstar Category:Target Date 2031-2035
As of Mar 31, 2016
Fund Net Assets ($millions) $23,074

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 2035 (the target year). The fund's asset allocation will become more conservative over time, meaning that the percentage of assets allocated to stocks will decrease while the percentage of assets allocated to bonds and other fixed income investments will increase.

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 Risk Glossary for additional information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Mar 31, 2016
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Vanguard Target Retire 2035a1.07%1.07%-2.50%7.00%7.14%5.40%6.74%
MSCI US Broad Market Index (Gross)a,b0.91%0.91%-0.36%11.22%11.07%7.08%N/A
Barclays U.S. Aggregate Bond Indexa,c3.03%3.03%1.96%2.50%3.78%4.90%N/A
Morningstar Target Date 2031-2035a,d0.61%0.61%-3.57%5.44%6.01%4.26%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 expensesa0.15%

 

a. Returns and/or expenses provided by Morningstar, Inc. Copyright © 2016. 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. ICMA-RC does not independently verify Morningstar data.

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 Barclays U.S. Aggregate Bond Index consists of investment-grade U.S. fixed income securities.

d. The Morningstar Category Average is the equal-weighted average return of all funds per category, as identified by Morningstar, Inc.

Distributions

Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Dec 29, 2015Dec 29, 2015$0.786000000
Dec 29, 2014Dec 29, 2014$0.373000000
Dec 26, 2013Dec 26, 2013$0.324000000
Dec 28, 2012Dec 28, 2012$0.313000000
Dec 29, 2011Dec 29, 2011$0.287000000
 

Morningstar Information

Morningstar Rating   As of Mar 31, 2016
Period Stars Category Size
Overall 4 Stars161
3-Year 5 Stars161
5-Year 4 Stars116
10-Year 4 Stars27

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.

Morningstar Stylebox As of Mar 31, 2016
Equity Stylebox Fixed Income Stylebox
Large BlendHigh Moderate
Allocation of Assets As of Feb 29, 2016
Type of Asset Percent
Equity81%
Fixed Income18%
Cash/Other1%

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

 
 

Characteristics

Allocation of Assets As of Feb 29, 2016
Asset ClassPercent
Domestic Stock49.0%
Foreign Stock31.7%
Domestic Bond11.6%
Foreign Bond6.5%
Preferred0.0%
Convertible0.0%
Cash0.9%
Other0.2%

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

 
Fixed Income Sector As of Feb 29, 2016
SectorPercent
Government9.8%
Corporate4.6%
Securitized3.4%
Cash & Equivalents0.9%
Municipal0.1%

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

 
Credit Quality As of Jan 31, 2016
Quality LevelPercent
AAA55.7%
AA11.0%
A17.7%
BBB15.6%
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 Feb 29, 2016
Holding NamePercent
Vanguard Total Stock Mkt Idx Inv48.9%
Vanguard Total Intl Stock Index Inv32.3%
Vanguard Total Bond Market II Idx Inv13.1%
Vanguard Total Intl Bd Idx Investor5.6%
 

Statistics

Portfolio Statistics As of Mar 31, 2016
Statistic3-Year5-Year
Beta0.980.97
Alpha1.120.87
Standard Deviation9.7111.20
 
 

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.