Fund Description

The fund invests in a diversified mix of underlying Vanguard mutual funds according to an asset allocation strategy tailored for investors nearing retirement in or around 2020. It is designed for those who intend to withdraw the account value over several years post-target year. The fund's asset allocation will gradually shift to become more conservative, reducing stock allocations while increasing investments in bonds and fixed income assets. Within seven years after 2020, the allocation will approach that of a retirement income fund. As of September 30, 2024, it features a diversified portfolio of U.S. and foreign stocks, as well as a variety of U.S. government and corporate bonds, along with other fixed income securities.