Fund Facts  

Inception Date: Oct 11, 2013
CUSIP: 92210F414
Morningstar Category:Target-Date 2040

Documents for Fund or Underlying Fund(s)  

Description

Objective  

High total return consistent with the fund’s current asset allocation.

Principal Investment Strategies  

The underlying VT III Vantagepoint Milestone Fund invests in a combination of other VT III 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 stated in the underlying fund’s name. The Fund invests in a combination of equity investments, fixed income investments, and multi-strategy investments. 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.

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, 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, Large Investor Risk.
Please see the Risk Glossary for additional information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Dec 31, 2016
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
VT Vantagepoint Milestone 2040   1.34%8.87%8.87%3.71%10.36%5.13%N/A
S&P 500 Indexa,b3.82%11.96%11.96%8.87%14.66%6.95%N/A
Custom Benchmarkc2.59%10.31%10.31%5.71%11.86%6.26%N/A
Morningstar Target-Date 2040b,d0.86%7.95%7.95%3.74%8.99%4.04%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
Total Expensese0.76%

 

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.

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 Dec 31, 2016
Period Stars Category Size
Overall 4 Stars176
3-Year 3 Stars176
5-Year 4 Stars146
10-Year 4 Stars67

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 Dec 31, 2016
Equity Stylebox Fixed Income Stylebox
Large BlendMedium Limited
Allocation of Assets As of Nov 30, 2016
Type of Asset Percent
Equity80%
Fixed Income19%
Cash/Other0%

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

 
 

Statistics

Portfolio Statistics As of Dec 31, 2016
Statistic3-Year5-Year
Beta1.001.00
Alpha-0.540.31
Standard Deviation10.0310.06
 
 

Underlying Fund Characteristics

Allocation of Assets As of Nov 30, 2016
Asset ClassPercent
Domestic Stock57.7%
Foreign Stock22.5%
Domestic Bond12.0%
Foreign Bond2.7%
Preferred0.2%
Convertible4.5%
Cash-1.4%
Other1.9%

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

 
Fixed Income Sector As of Nov 30, 2016
SectorPercent
Corporate11.5%
Government4.5%
Securitized3.1%
Municipal0.0%
Derivative-0.2%
Cash & Equivalents-1.1%

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

 
Credit Quality As of Nov 30, 2016
Quality LevelPercent
AAA48.9%
AA6.1%
A13.7%
BBB20.0%
BB4.5%
B4.6%
Below B1.9%
Not Rated0.3%

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

 
Top Ten Holdings As of Dec 31, 2016
Holding NamePercent
VT III VANTAGEPOINT EQUITY INCOME FUND19.5%
VT III VANTAGEPOINT INTERNATIONAL FUND18.5%
VT III VANTAGEPOINT GROWTH & INCOME FUND14.3%
VT III VANTAGEPOINT GROWTH FUND13.3%
VT III VANTAGEPOINT DIVERSIFYING STRATEGIES FUND13.0%
VT III VANTAGEPOINT MID/SMALL COMPANY INDEX FUND7.7%
VT III VANTAGEPOINT CORE BOND INDEX FUND6.0%
VANGUARD FTSE EMERGING MARKETS ETF3.4%
VT III VANTAGEPOINT HIGH YIELD FUND1.5%
VT III VANTAGEPOINT DISCOVERY FUND0.9%
All Holdings As of Dec 31, 2016
Exchange-Traded Funds
Holding NameMarket Value
VANGUARD FTSE EMERGING MARKETS ETF$13,404,977
 
Mutual Funds
Holding NameMarket Value
VT III VANTAGEPOINT EQUITY INCOME FUND$78,117,354
VT III VANTAGEPOINT INTERNATIONAL FUND$73,968,223
VT III VANTAGEPOINT GROWTH & INCOME FUND$57,437,220
VT III VANTAGEPOINT GROWTH FUND$53,320,342
VT III VANTAGEPOINT DIVERSIFYING STRATEGIES FUND$52,085,671
VT III VANTAGEPOINT MID/SMALL COMPANY INDEX FUND$30,991,345
VT III VANTAGEPOINT CORE BOND INDEX FUND$23,865,504
VT III VANTAGEPOINT HIGH YIELD FUND$6,124,841
VT III VANTAGEPOINT DISCOVERY FUND$3,725,623
VT III VANTAGEPOINT SELECT VALUE FUND$3,720,302
VT III VANTAGEPOINT AGGRESSIVE OPPORTUNITIES FUND$3,717,362
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$254,977
All Holdings As of Nov 30, 2016
Exchange-Traded Funds
Holding NameMarket Value
VANGUARD FTSE EMERGING MARKETS ETF$13,280,063
 
Mutual Funds
Holding NameMarket Value
VT III VANTAGEPOINT EQUITY INCOME FUND$80,187,116
VT III VANTAGEPOINT INTERNATIONAL FUND$70,867,692
VT III VANTAGEPOINT GROWTH & INCOME FUND$57,916,478
VT III VANTAGEPOINT GROWTH FUND$52,394,760
VT III VANTAGEPOINT DIVERSIFYING STRATEGIES FUND$52,077,405
VT III VANTAGEPOINT MID/SMALL COMPANY INDEX FUND$32,503,410
VT III VANTAGEPOINT CORE BOND INDEX FUND$22,790,661
VT III VANTAGEPOINT HIGH YIELD FUND$5,949,937
VT III VANTAGEPOINT DISCOVERY FUND$3,944,535
VT III VANTAGEPOINT SELECT VALUE FUND$3,792,343
VT III VANTAGEPOINT AGGRESSIVE OPPORTUNITIES FUND$3,770,624
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$170,357
 
Other
Holding NameMarket Value
USD$20
All Holdings As of Oct 31, 2016
Exchange-Traded Funds
Holding NameMarket Value
VANGUARD FTSE EMERGING MARKETS ETF$13,036,963
 
Mutual Funds
Holding NameMarket Value
VT III VANTAGEPOINT EQUITY INCOME FUND$75,848,588
VT III VANTAGEPOINT INTERNATIONAL FUND$70,946,150
VT III VANTAGEPOINT GROWTH & INCOME FUND$55,469,208
VT III VANTAGEPOINT GROWTH FUND$51,491,931
VT III VANTAGEPOINT DIVERSIFYING STRATEGIES FUND$50,163,347
VT III VANTAGEPOINT MID/SMALL COMPANY INDEX FUND$29,883,621
VT III VANTAGEPOINT CORE BOND INDEX FUND$22,851,644
VT III VANTAGEPOINT HIGH YIELD FUND$5,869,864
VT III VANTAGEPOINT AGGRESSIVE OPPORTUNITIES FUND$3,597,590
VT III VANTAGEPOINT SELECT VALUE FUND$3,594,482
VT III VANTAGEPOINT DISCOVERY FUND$3,584,439
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$303,860

Footnotes

1.

Please read Making Sound Investment Decisions: A Retirement Investment Guide and the accompanying VantageTrust Fund Fees and Expenses document ("Guide") carefully for a complete summary of all fees, expenses, investment objectives and strategies, and risks before investing. For a current Guide, contact ICMA-RC by calling 800-669-7400 or log into your account at www.icmarc.org.

2.

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 © 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.