Fund Facts  

Inception Date: Oct 11, 2013
Morningstar Category:Target-Date 2045

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 2055 (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, Indexing Risk, Derivative Instruments Risk, Large Investor Risk.
Please see the Risk Glossary for additional information about the Fund’s risks.

 

Performance & Expenses

Standard Performance As of Sep 30, 2016
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
VT Vantagepoint Milestone 2045   5.19%7.40%12.20%5.83%12.20%N/A9.15%
S&P 500 Indexa,b3.85%7.84%15.43%11.16%16.37%7.24%N/A
Custom Benchmarkc4.82%7.62%13.40%7.73%13.65%N/AN/A
Morningstar Target-Date 2045b,d4.66%6.82%11.13%5.69%11.30%4.86%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 Expensese0.85%

 

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 Sep 30, 2016
Period Stars Category Size
Overall 4 Stars160
3-Year 3 Stars160
5-Year 4 Stars114
10-Year N/A N/A

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 Sep 30, 2016
Equity Stylebox Fixed Income Stylebox
Large BlendMedium Limited
Allocation of Assets As of Aug 31, 2016
Type of Asset Percent
Equity87%
Fixed Income14%
Cash/Other-1%

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

 
 

Statistics

Portfolio Statistics As of Sep 30, 2016
Statistic3-Year5-Year
Beta1.031.02
Alpha-0.380.46
Standard Deviation10.6111.34

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 Aug 31, 2016
Asset ClassPercent
Domestic Stock62.3%
Foreign Stock24.7%
Domestic Bond7.0%
Foreign Bond1.8%
Preferred0.3%
Convertible4.6%
Cash-0.7%
Other0.1%

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

 
Fixed Income Sector As of Aug 31, 2016
SectorPercent
Corporate9.2%
Government2.8%
Securitized1.6%
Derivative0.0%
Municipal0.0%
Cash & Equivalents-0.7%

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

 
Credit Quality As of Aug 31, 2016
Quality LevelPercent
AAA39.0%
AA7.1%
A15.0%
BBB23.7%
BB6.1%
B5.8%
Below B2.5%
Not Rated0.8%

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

 
Top Ten Holdings As of Oct 31, 2016
Holding NamePercent
VT III VANTAGEPOINT EQUITY INCOME FUND22.2%
VT III VANTAGEPOINT INTERNATIONAL FUND19.1%
VT III VANTAGEPOINT GROWTH FUND14.8%
VT III VANTAGEPOINT GROWTH & INCOME FUND13.8%
VT III VANTAGEPOINT DIVERSIFYING STRATEGIES FUND13.2%
VT III VANTAGEPOINT MID/SMALL COMPANY INDEX FUND8.4%
VANGUARD FTSE EMERGING MARKETS ETF3.6%
VT III VANTAGEPOINT AGGRESSIVE OPPORTUNITIES FUND1.0%
VT III VANTAGEPOINT DISCOVERY FUND1.0%
VT III VANTAGEPOINT SELECT VALUE FUND1.0%
All Holdings As of Oct 31, 2016
Exchange-Traded Funds
Holding NameMarket Value
VANGUARD FTSE EMERGING MARKETS ETF$6,776,125
 
Mutual Funds
Holding NameMarket Value
VT III VANTAGEPOINT EQUITY INCOME FUND$41,706,179
VT III VANTAGEPOINT INTERNATIONAL FUND$35,962,088
VT III VANTAGEPOINT GROWTH FUND$27,895,222
VT III VANTAGEPOINT GROWTH & INCOME FUND$26,054,521
VT III VANTAGEPOINT DIVERSIFYING STRATEGIES FUND$24,925,006
VT III VANTAGEPOINT MID/SMALL COMPANY INDEX FUND$15,799,797
VT III VANTAGEPOINT AGGRESSIVE OPPORTUNITIES FUND$1,883,582
VT III VANTAGEPOINT DISCOVERY FUND$1,883,473
VT III VANTAGEPOINT SELECT VALUE FUND$1,881,084
VT III VANTAGEPOINT HIGH YIELD FUND$1,879,526
VT III VANTAGEPOINT CORE BOND INDEX FUND$1,355,985
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$203,656
All Holdings As of Sep 30, 2016
Exchange-Traded Funds
Holding NameMarket Value
VANGUARD FTSE EMERGING MARKETS ETF$6,690,614
 
Mutual Funds
Holding NameMarket Value
VANTAGEPOINT EQUITY INCOME FUND$41,773,058
VANTAGEPOINT INTERNATIONAL FUND$36,115,476
VANTAGEPOINT GROWTH FUND$28,146,393
VANTAGEPOINT GROWTH & INCOME FUND$26,224,822
VANTAGEPOINT DIVERSIFYING STRATEGIES FUND$25,026,234
VANTAGEPOINT MID/SMALL COMPANY INDEX FUND$15,893,776
VANTAGEPOINT DISCOVERY FUND$1,899,997
VANTAGEPOINT SELECT VALUE FUND$1,896,979
VANTAGEPOINT HIGH YIELD FUND$1,891,905
VANTAGEPOINT AGGRESSIVE OPPORTUNITIES FUND$1,888,933
VANTAGEPOINT CORE BOND INDEX FUND$1,359,942
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$278,398
 
Other
Holding NameMarket Value
USD$250,000
All Holdings As of Aug 31, 2016
Exchange-Traded Funds
Holding NameMarket Value
VANGUARD FTSE EMERGING MARKETS ETF$6,734,205
 
Mutual Funds
Holding NameMarket Value
VANTAGEPOINT EQUITY INCOME FUND$41,684,395
VANTAGEPOINT INTERNATIONAL FUND$36,018,169
VANTAGEPOINT GROWTH FUND$28,076,110
VANTAGEPOINT GROWTH & INCOME FUND$26,212,115
VANTAGEPOINT DIVERSIFYING STRATEGIES FUND$25,062,036
VANTAGEPOINT MID/SMALL COMPANY INDEX FUND$15,862,435
VANTAGEPOINT DISCOVERY FUND$1,894,239
VANTAGEPOINT SELECT VALUE FUND$1,893,174
VANTAGEPOINT HIGH YIELD FUND$1,887,929
VANTAGEPOINT AGGRESSIVE OPPORTUNITIES FUND$1,885,575
VANTAGEPOINT CORE BOND INDEX FUND$1,361,711
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$70,538
All Holdings As of Jul 31, 2016
Exchange-Traded Funds
Holding NameMarket Value
VANGUARD FTSE EMERGING MARKETS ETF$6,769,060
 
Mutual Funds
Holding NameMarket Value
VANTAGEPOINT EQUITY INCOME FUND$41,016,901
VANTAGEPOINT INTERNATIONAL FUND$35,930,197
VANTAGEPOINT GROWTH FUND$27,762,776
VANTAGEPOINT GROWTH & INCOME FUND$25,699,113
VANTAGEPOINT DIVERSIFYING STRATEGIES FUND$24,657,018
VANTAGEPOINT MID/SMALL COMPANY INDEX FUND$15,697,166
VANTAGEPOINT DISCOVERY FUND$1,875,104
VANTAGEPOINT SELECT VALUE FUND$1,847,061
VANTAGEPOINT AGGRESSIVE OPPORTUNITIES FUND$1,838,516
VANTAGEPOINT HIGH YIELD FUND$1,836,111
VANTAGEPOINT CORE BOND INDEX FUND$1,253,786
 
Short-Term/Cash
Holding NameMarket Value
FIDELITY INSTITUTIONAL MONEY MARKET$113,916
 
Other
Holding NameMarket Value
USD$643,338

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.