Fund Facts  

Inception Date: Oct 11, 2013
CUSIP: 92210F794
Morningstar Category:Target-Date Retirement

Documents for Fund or Underlying Fund(s)  

Description

Objective  

Current income and opportunities for capital growth that have limited risk.

Principal Investment Strategies  

The Fund invests substantially all of its assets in a single underlying VT III Vantagepoint Fund, which invests in a combination of other VT III Vantagepoint Funds and one or more third party exchange-traded funds (“ETFs”) to seek to obtain exposure to approximately 63% fixed income investments, 30% equity investments, and 7% multi-strategy investments. These asset allocations are referred to as “neutral targets” because they do not reflect decisions that may be made by ICMA-RC, the investment adviser to the underlying fund, to overweight or underweight a particular asset class based on market or operational factors. The neutral targets also do not reflect performance differences between the Fund’s asset class allocations that will cause temporary deviations from the neutral targets. The actual asset class allocation of the Fund may vary by as much as five percentage points as a result of ICMA-RC’s allocation decisions, performance differences between asset classes of the Fund, or some combination thereof.

Fixed Income Funds
Fund
VT III Vantagepoint Low Duration Bond Fund
VT III Vantagepoint Core Bond Index Fund
VT III Vantagepoint Inflation Focused Fund
VT III Vantagepoint High Yield Fund

Equity Funds
Fund
VT III Vantagepoint Equity Income Fund
VT III Vantagepoint Growth & Income Fund
VT III Vantagepoint Growth Fund
VT III Vantagepoint Select Value Fund
VT III Vantagepoint Mid/Small Company Index Fund
VT III Vantagepoint Aggressive Opportunities Fund
VT III Vantagepoint Discovery Fund
VT III Vantagepoint International Fund
VT III Vantagepoint Emerging Markets Fund
Third Party Emerging Markets ETF

Multi-Strategy Fund
Fund
VT III Vantagepoint Diversifying Strategies Fund


 

Target Date Funds: The VT Vantagepoint Milestone Funds are target date funds. Each invests substantially all of its assets in a single VT III Vantagepoint Milestone Fund (“Milestone Fund”) that shares its name and investment objective. In turn, each underlying Milestone Fund is a “fund of funds” that invests substantially all of its assets in other VT III Vantagepoint Funds and one or more third party ETFs. By investing in this way, each Milestone Fund is exposed to the risks as well as the potential rewards of its underlying funds and of the portfolio holdings and strategies of those funds. The targeted allocation of each underlying Milestone Fund’s assets among underlying funds and the asset classes they represent is determined by ICMA-RC, the investment adviser to the VT III Vantagepoint Funds. Over time, ICMA-RC will adjust the asset allocation of each “dated” Milestone Fund to seek to become more conservative as the year designated in its name approaches and for approximately 10 years beyond the designated year. This is intended to reduce investment risk as investors move toward and into retirement. However, there is no guarantee that this goal will be achieved and investors may lose money investing in the Milestone Funds. Ten years after the date in the Milestone Fund’s name, it will reach its “landing point” and its target asset allocation becomes constant. It is expected that when a Milestone Fund reaches its “landing point” it will merge with the Milestone Retirement Income Fund.



The asset allocation changes that occur over time as depicted in the Glide Path below are referred to as “neutral targets” because they do not reflect decisions that may be made by ICMA-RC to overweight or underweight a particular asset class based on market or operational factors. The neutral targets also do not reflect performance differences between the Fund’s asset allocations that will cause temporary deviations from the neutral targets. The actual asset class allocation of the Fund may vary from the neutral target by as much as five percentage points as a result of ICMA-RC’s allocation decisions, performance differences between asset classes of the Fund, or some combination thereof.

Glide Chart

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, Fund of Funds Risk, ETF Risks, Interest Rate Risk, Credit Risk, Convertible Securities Risk, High Yield Securities Risk, Mortgage-Backed Securities Risk, Asset-Backed Securities Risk, Prepayment and Extension Risk, U.S. Government Agency Securities Risk, Stock Market Risk, Foreign Securities Risk, Emerging Markets Securities Risk, Mid-Cap Securities Risk, Derivative Instruments Risk, Indexing Risk, Large Investor Risk.
Please see the Disclosure Memorandum for additional information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Sep 30, 2017
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
VT Vantagepoint MS Ret Inc   2.13%6.76%6.58%4.07%4.30%3.83%N/A
Bloomberg Barclays U.S. Int Agg Bond Indexa,b0.72%2.34%0.25%2.25%1.75%3.83%N/A
Custom Benchmarkc2.12%6.44%6.42%4.67%5.35%4.76%N/A
Morningstar Target-Date Retirementb,d2.07%6.68%5.83%3.87%4.22%3.81%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.

Performance information for this class prior to its inception date is hypothetical. It is the performance of the Fund adjusted to reflect the estimated fees and expenses of this class.

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.

Total Expenses e
Gross Expenses0.67%
Net Expenses0.67%

 

a. The Bloomberg Barclays U.S. Intermediate Aggregate Bond Index consists of investment-grade U.S. fixed income securities with maturities of 1 to 10 years.

b. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2017 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, Bloomberg Barclays U.S. Treasury Inflation-Linked Bond Index (Series-L), 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 Morningstar category represents the average return for a category of funds with similar investment objectives and strategies. The average is calculated and funds are assigned to a category by Morningstar.

e. VantageTrust Funds invest either in collective investment funds or underlying registered funds. Please refer to the underlying fund's disclosure documents for additional information on fund fees and expenses.

Morningstar Information

Morningstar RatingTM   As of Sep 30, 2017
Period Stars Category Size
Overall 3 Stars144
3-Year 3 Stars144
5-Year 3 Stars125
10-Year 3 Stars70

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange–traded funds, closed–end funds, and separate accounts) with at least a three–year history. Exchange–traded funds and open–ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk–Adjusted Return measure that accounts for variation in a managed product′s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product 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 managed product is derived from a weighted average of the performance figures associated with its three–, five–, and 10–year (if applicable) Morningstar Rating metrics. The weights are: 100% three–year rating for 36–59 months of total returns, 60% five–year rating⁄40% three–year rating for 60–119 months of total returns, and 50% 10–year rating⁄30% five–year rating⁄20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Morningstar Stylebox As of Sep 30, 2017
Equity Stylebox Fixed Income Stylebox
Large BlendMedium Limited
Allocation of Assets As of Aug 31, 2017
Type of Asset Percent
Equity32%
Fixed Income70%
Cash/Other-2%

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

 
 

Statistics

Portfolio Statistics As of Sep 30, 2017
Statistic3-Year5-Year
Beta1.020.95
Alpha0.210.19
Standard Deviation3.963.79
 
 

Underlying Fund Characteristics

Allocation of Assets As of Aug 31, 2017
Asset ClassPercent
Domestic Stock23.1%
Foreign Stock9.1%
Domestic Bond58.3%
Foreign Bond9.0%
Preferred0.2%
Convertible2.1%
Cash-1.9%
Other0.1%

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

 
Fixed Income Sector As of Aug 31, 2017
SectorPercent
Corporate29.0%
Government25.9%
Securitized14.4%
Municipal0.2%
Derivative-0.1%
Cash & Equivalents-1.8%

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

 
Credit Quality As of Aug 31, 2017
Quality LevelPercent
AAA54.8%
AA4.4%
A11.6%
BBB19.9%
BB3.6%
B3.9%
Below B1.5%
Not Rated0.4%

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

 
Top Ten Holdings As of Aug 31, 2017
Holding NamePercent
VT III VANTAGEPOINT LOW DURATION BOND FUND26.2%
VT III VANTAGEPOINT CORE BOND INDEX FUND20.5%
VT III VANTAGEPOINT INFLATION FOCUSED FUND10.5%
VT III VANTAGEPOINT GROWTH & INCOME FUND8.4%
VT III VANTAGEPOINT INTERNATIONAL FUND6.8%
VT III VANTAGEPOINT DIVERSIFYING STRATEGIES FUND6.5%
VT III VANTAGEPOINT EQUITY INCOME FUND6.4%
VT III VANTAGEPOINT HIGH YIELD FUND5.6%
VT III VANTAGEPOINT GROWTH FUND3.8%
VT III VANTAGEPOINT MID/SMALL COMPANY INDEX FUND3.0%
All Holdings As of Aug 31, 2017
Collective Trusts/Mutual Funds
Holding NameMarket Value
VT III VANTAGEPOINT LOW DURATION BOND FUND$73,340,616
VT III VANTAGEPOINT CORE BOND INDEX FUND$57,515,348
VT III VANTAGEPOINT INFLATION FOCUSED FUND$29,387,809
VT III VANTAGEPOINT GROWTH & INCOME FUND$23,647,797
VT III VANTAGEPOINT INTERNATIONAL FUND$19,058,218
VT III VANTAGEPOINT DIVERSIFYING STRATEGIES FUND$18,334,422
VT III VANTAGEPOINT EQUITY INCOME FUND$18,003,905
VT III VANTAGEPOINT HIGH YIELD FUND$15,629,265
VT III VANTAGEPOINT GROWTH FUND$10,672,682
VT III VANTAGEPOINT MID/SMALL COMPANY INDEX FUND$8,283,703
VT III VANTAGEPOINT EMERGING MARKETS FUND$3,680,552
VT III VANTAGEPOINT DISCOVERY FUND$1,001,665
VT III VANTAGEPOINT AGGRESSIVE OPPORTUNITIES FUND$994,694
VT III VANTAGEPOINT SELECT VALUE FUND$992,936
All Holdings As of Jul 31, 2017
Collective Trusts/Mutual Funds
Holding NameMarket Value
VT III VANTAGEPOINT LOW DURATION BOND FUND$73,697,520
VT III VANTAGEPOINT CORE BOND INDEX FUND$57,818,549
VT III VANTAGEPOINT INFLATION FOCUSED FUND$29,441,675
VT III VANTAGEPOINT GROWTH & INCOME FUND$23,336,961
VT III VANTAGEPOINT INTERNATIONAL FUND$19,075,711
VT III VANTAGEPOINT DIVERSIFYING STRATEGIES FUND$18,157,516
VT III VANTAGEPOINT EQUITY INCOME FUND$17,802,285
VT III VANTAGEPOINT HIGH YIELD FUND$15,700,186
VT III VANTAGEPOINT GROWTH FUND$10,404,306
VT III VANTAGEPOINT MID/SMALL COMPANY INDEX FUND$8,075,135
VT III VANTAGEPOINT EMERGING MARKETS FUND$3,640,000
VT III VANTAGEPOINT AGGRESSIVE OPPORTUNITIES FUND$979,282
VT III VANTAGEPOINT SELECT VALUE FUND$975,180
VT III VANTAGEPOINT DISCOVERY FUND$971,918
 
Other
Holding NameMarket Value
USD$59
All Holdings As of Jun 30, 2017
Exchange-Traded Funds
Holding NameMarket Value
VANGUARD FTSE EMERGING MARKETS ETF$3,033,669
 
Collective Trusts/Mutual Funds
Holding NameMarket Value
VT III VANTAGEPOINT LOW DURATION BOND FUND$73,766,239
VT III VANTAGEPOINT CORE BOND INDEX FUND$57,502,249
VT III VANTAGEPOINT INFLATION FOCUSED FUND$29,313,187
VT III VANTAGEPOINT GROWTH & INCOME FUND$23,343,179
VT III VANTAGEPOINT INTERNATIONAL FUND$19,058,891
VT III VANTAGEPOINT DIVERSIFYING STRATEGIES FUND$18,198,916
VT III VANTAGEPOINT EQUITY INCOME FUND$17,783,089
VT III VANTAGEPOINT HIGH YIELD FUND$15,705,906
VT III VANTAGEPOINT GROWTH FUND$10,446,447
VT III VANTAGEPOINT MID/SMALL COMPANY INDEX FUND$8,137,209
VT III VANTAGEPOINT SELECT VALUE FUND$983,585
VT III VANTAGEPOINT DISCOVERY FUND$983,173
VT III VANTAGEPOINT AGGRESSIVE OPPORTUNITIES FUND$979,557
VT III VANTAGEPOINT EMERGING MARKETS FUND$375,024
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$68,519
BLACKROCK TEMP FUND$68,519
All Holdings As of May 31, 2017
Exchange-Traded Funds
Holding NameMarket Value
VANGUARD FTSE EMERGING MARKETS ETF$3,414,012
 
Collective Trusts/Mutual Funds
Holding NameMarket Value
VT III VANTAGEPOINT LOW DURATION BOND FUND$73,657,392
VT III VANTAGEPOINT CORE BOND INDEX FUND$57,770,559
VT III VANTAGEPOINT INFLATION FOCUSED FUND$29,446,381
VT III VANTAGEPOINT GROWTH & INCOME FUND$23,388,945
VT III VANTAGEPOINT INTERNATIONAL FUND$19,076,653
VT III VANTAGEPOINT DIVERSIFYING STRATEGIES FUND$18,200,295
VT III VANTAGEPOINT EQUITY INCOME FUND$17,753,228
VT III VANTAGEPOINT HIGH YIELD FUND$15,686,109
VT III VANTAGEPOINT GROWTH FUND$10,513,419
VT III VANTAGEPOINT MID/SMALL COMPANY INDEX FUND$8,103,989
VT III VANTAGEPOINT AGGRESSIVE OPPORTUNITIES FUND$981,133
VT III VANTAGEPOINT SELECT VALUE FUND$980,645
VT III VANTAGEPOINT DISCOVERY FUND$977,985
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$68,324
BLACKROCK TEMP FUND$68,324
 
Other
Holding NameMarket Value
USD$-82,800

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.

Before investing in the Fund you should carefully consider your investment goals, tolerance for risk, investment time horizon, and personal circumstances. There is no guarantee that the Fund will meet its investment objective and you can lose money.

3.

The Fund is an investment option of VantageTrust, a group trust established and maintained by VantageTrust Company, LLC, a wholly owned subsidiary of ICMA-RC. VantageTrust provides for the commingling of assets of certain trusts and plans as described in its Declaration of Trust, and is only available for investment by such eligible trusts and plans. The Fund is not a mutual fund. Its units are not deposits of VantageTrust Company and are not insured by the Federal Deposit Insurance Corporation or any other agency. The Fund is a security that has not been registered under the Securities Act of 1933 and is exempt from investment company registration under the Investment Company Act of 1940. For additional information regarding the Fund, including a description of the principal risks, please consult the VantageTrust Funds Disclosure Memorandum, which is available when you log in at www.icmarc.org, or upon request by calling 800-669-7400.

The source for this information is Morningstar, Inc. Copyright © 2017 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.