Fund Facts  

Inception Date: Oct 11, 2013
Morningstar Category:Target Date 2036-2040

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 Vantagepoint Milestone 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 stated in the underlying mutual 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, 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, Large Investor Risk.
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
VT Vantagepoint Milestone 2040   0.76%0.76%-4.56%6.41%6.90%5.09%N/A
S&P 500 Indexa,b1.35%1.35%1.78%11.82%11.58%7.01%N/A
Milestone 2040 Custom Benchmarkc0.89%0.89%-1.47%8.33%8.37%6.36%N/A
Former Milestone 2040 Custom Benchmarkd0.54%0.54%-0.10%9.98%9.82%6.08%N/A
Morningstar Target Date 2036-2040b,e0.49%0.49%-4.01%5.30%5.71%4.05%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.

The initial offering date of the R7 share class was October 11, 2013. As a result, performance information for the R7 share class prior to its initial offering date is the performance of the Fund's R5 share class net of fees and expenses. The R7 share class fees and expenses are 0.09% lower than the total fees and expenses of the Fund's R5 share 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 expensesf0.81%

 

a. The S&P 500 Index consists of 500 companies representing larger capitalization stocks traded in the U.S.

b. 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.

c. The custom benchmark is comprised of the BofA Merrill Lynch 1-3 Year US Corporate & Government Index, 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 custom benchmark is composed of market indexes that reflect the general performance of the primary asset classes in which the Fund invests, in weighted percentages that correspond to the historical target allocation to those asset classes for the Fund. Those asset class benchmarks are the S&P 500 Index and the MSCI EAFE Index (Net). Should the target allocations for the Fund between those asset classes change, the percentage allocations to the corresponding indexes will also change when calculating the custom benchmark.

e. 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.

f. VantageTrust Funds invest in underlying registered funds. Please refer to the underlying fund's prospectus for additional information on fund fees and expenses.

Morningstar Information

Morningstar Rating   As of Mar 31, 2016
Period Stars Category Size
Overall 4 Stars187
3-Year 3 Stars187
5-Year 4 Stars158
10-Year 4 Stars65

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.

The Morningstar Ranking and Morningstar Rating, as well as statistics for alpha, beta, and standard deviation, (collectively, "Data"), are not available for the R7 or R9 share classes of the VT Vantagepoint Funds. Data provided is for the R5 share class of the VT Vantagepoint Funds, which has an expense ratio that is 0.09% higher than the R7 share class, and 0.19% higher than the R9 share class of the Funds.

Morningstar Stylebox As of Mar 31, 2016
Equity Stylebox Fixed Income Stylebox
Large BlendMedium Limited
Allocation of Assets As of Feb 29, 2016
Type of Asset Percent
Equity82%
Fixed Income18%
Cash/Other0%

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

 
 

Statistics

Portfolio Statistics As of Mar 31, 2016
Statistic3-Year5-Year
Beta1.011.01
Alpha0.360.40
Standard Deviation10.6612.31

The Morningstar Ranking and Morningstar Rating, as well as statistics for alpha, beta, and standard deviation, (collectively, "Data"), are not available for the R7 or R9 share classes of the VT Vantagepoint Funds. Data provided is for the R5 share class of the VT Vantagepoint Funds, which has an expense ratio that is 0.09% higher than the R7 share class, and 0.19% higher than the R9 share class of the Funds.

 

Underlying Fund Characteristics

Allocation of Assets As of Feb 29, 2016
Asset ClassPercent
Domestic Stock56.3%
Foreign Stock25.5%
Domestic Bond11.4%
Foreign Bond2.1%
Preferred0.3%
Convertible4.5%
Cash-0.2%
Other0.1%

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

 
Fixed Income Sector As of Feb 29, 2016
SectorPercent
Corporate11.2%
Government4.1%
Securitized3.0%
Derivative0.1%
Municipal0.1%
Cash & Equivalents-0.3%

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

 
Credit Quality As of Feb 29, 2016
Quality LevelPercent
AAA50.9%
AA3.7%
A13.4%
BBB18.2%
BB5.3%
B6.3%
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 May 31, 2016
Holding NamePercent
VANTAGEPOINT EQUITY INCOME FUND19.9%
VANTAGEPOINT INTERNATIONAL FUND18.4%
VANTAGEPOINT GROWTH & INCOME FUND14.4%
VANTAGEPOINT GROWTH FUND13.5%
VANTAGEPOINT DIVERSIFYING STRATEGIES FUND13.0%
VANTAGEPOINT MID/SMALL COMPANY INDEX FUND7.9%
VANTAGEPOINT CORE BOND INDEX FUND5.3%
VANGUARD FTSE EMERGING MARKETS ETF3.3%
VANTAGEPOINT HIGH YIELD FUND1.4%
VANTAGEPOINT DISCOVERY FUND1.0%
All Holdings As of May 31, 2016
Exchange-Traded Funds
Holding NameMarket Value
VANGUARD FTSE EMERGING MARKETS ETF$12,686,456
 
Mutual Funds
Holding NameMarket Value
VANTAGEPOINT EQUITY INCOME FUND$77,193,057
VANTAGEPOINT INTERNATIONAL FUND$71,570,801
VANTAGEPOINT GROWTH & INCOME FUND$55,817,852
VANTAGEPOINT GROWTH FUND$52,344,598
VANTAGEPOINT DIVERSIFYING STRATEGIES FUND$50,646,516
VANTAGEPOINT MID/SMALL COMPANY INDEX FUND$30,713,485
VANTAGEPOINT CORE BOND INDEX FUND$20,612,353
VANTAGEPOINT HIGH YIELD FUND$5,562,304
VANTAGEPOINT DISCOVERY FUND$3,701,267
VANTAGEPOINT AGGRESSIVE OPPORTUNITIES FUND$3,676,139
VANTAGEPOINT SELECT VALUE FUND$3,665,616
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$546,875
All Holdings As of Apr 30, 2016
Exchange-Traded Funds
Holding NameMarket Value
VANGUARD FTSE EMERGING MARKETS ETF$12,939,819
 
Mutual Funds
Holding NameMarket Value
VANTAGEPOINT EQUITY INCOME FUND$77,394,955
VANTAGEPOINT INTERNATIONAL FUND$71,246,437
VANTAGEPOINT GROWTH & INCOME FUND$55,754,874
VANTAGEPOINT GROWTH FUND$51,663,088
VANTAGEPOINT DIVERSIFYING STRATEGIES FUND$50,336,942
VANTAGEPOINT MID/SMALL COMPANY INDEX FUND$30,398,641
VANTAGEPOINT CORE BOND INDEX FUND$20,655,263
VANTAGEPOINT HIGH YIELD FUND$5,620,426
VANTAGEPOINT DISCOVERY FUND$3,689,770
VANTAGEPOINT AGGRESSIVE OPPORTUNITIES FUND$3,673,008
VANTAGEPOINT SELECT VALUE FUND$3,637,878
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$220,260
All Holdings As of Mar 31, 2016
Exchange-Traded Funds
Holding NameMarket Value
VANGUARD FTSE EMERGING MARKETS ETF$13,031,473
 
Mutual Funds
Holding NameMarket Value
VANTAGEPOINT EQUITY INCOME FUND$75,869,878
VANTAGEPOINT INTERNATIONAL FUND$70,740,045
VANTAGEPOINT GROWTH & INCOME FUND$54,902,925
VANTAGEPOINT GROWTH FUND$51,661,606
VANTAGEPOINT DIVERSIFYING STRATEGIES FUND$49,830,265
VANTAGEPOINT MID/SMALL COMPANY INDEX FUND$30,381,337
VANTAGEPOINT CORE BOND INDEX FUND$20,307,285
VANTAGEPOINT HIGH YIELD FUND$5,501,354
VANTAGEPOINT DISCOVERY FUND$3,669,058
VANTAGEPOINT AGGRESSIVE OPPORTUNITIES FUND$3,625,694
VANTAGEPOINT SELECT VALUE FUND$3,623,014
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$160,858
All Holdings As of Feb 29, 2016
Exchange-Traded Funds
Holding NameMarket Value
VANGUARD FTSE EMERGING MARKETS ETF$11,725,032
 
Mutual Funds
Holding NameMarket Value
VANTAGEPOINT EQUITY INCOME FUND$70,400,283
VANTAGEPOINT INTERNATIONAL FUND$65,007,178
VANTAGEPOINT GROWTH & INCOME FUND$50,845,935
VANTAGEPOINT GROWTH FUND$47,931,730
VANTAGEPOINT DIVERSIFYING STRATEGIES FUND$46,689,791
VANTAGEPOINT MID/SMALL COMPANY INDEX FUND$28,195,749
VANTAGEPOINT CORE BOND INDEX FUND$18,829,587
VANTAGEPOINT HIGH YIELD FUND$5,167,805
VANTAGEPOINT DISCOVERY FUND$3,430,316
VANTAGEPOINT AGGRESSIVE OPPORTUNITIES FUND$3,388,208
VANTAGEPOINT SELECT VALUE FUND$3,350,707
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$119,861

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 © 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.