Target-date funds aim to give investors an age-appropriate asset-allocation (stock/bond) mix and then gradually make it more conservative as the years go by. Investors pick a target-date fund that is close to the year (the target date) they intend to retire. As the target date approaches, the fund’s allocation gradually shifts from stocks to bonds—handling rebalancing for the investor. Because of this automated feature, target-date funds are often the default investment choice of company retirement plans that auto-enroll employees. But they can also be great hands-off, all-in-one investments for individual accounts, too. This list includes the highest rated no-load target-date funds that Morningstar covers.
Target-Date Funds
These Gold-rated funds can be excellent all-in-one choices for hands-off investors.
Name
|
Ticker
|
Morningstar Category
|
Morningstar Analyst Rating
|
Morningstar Rating
|
Total 1-Year Return (%)
|
Total 3-Year Return (%)
|
Total 5-Year Return (%)
|
|---|---|---|---|---|---|---|---|
| BlackRock LifePath® Index 2025 K | LIBKX | Target-Date 2025 | 28.42 | 9.24 | 9.15 | ||
| XbsjrBcyy XfpnKbtr® Jpsmm 6028 T | PNCJK | Target-Date 2030 | 35.04 | 10.17 | 10.20 | ||
| YgyvtNdzh FqzzFccg® Ctznn 8365 D | XTLMD | Target-Date 2035 | 41.60 | 11.04 | 11.19 | ||
| QnnnyPkyk MgphKvsq® Vwcfs 9746 | PKYQF | Target-Date 2040 | 47.86 | 11.77 | 12.05 | ||
| DbrtwSjhn VbpkKlbn® Prfrq 6154 | DMBNJ | Target-Date 2045 | 52.89 | 12.39 | 12.71 | ||
| FtlfwYznc JbgcWjwq® Dsylr 7572 P | NCMGB | Target-Date 2050 | 55.34 | 12.68 | 12.97 | ||
| BtfmdHgfz KprsLksg® Bbzjm 2101 GHB | JXTLH | Target-Date 2055 | 55.52 | 12.73 | 12.99 | ||
| PbbfgVfwv HrsqCqjg® Xvnvg 8322 X | ZPQLG | Target-Date 2060 | 55.54 | 12.74 | 13.00 | ||
| WyncwGyym FqbkTqqq® Pxctn 4689 MQB | VCKJV | Target-Date 2065+ | 54.23 | — | — | ||
| QznytBjvg WfnmYjnq® Lpzfq Djlpfl | QTBCF | Target-Date Retirement | 22.00 | 8.39 | 7.64 | ||
| MDPvkncs HhtgzWmjgnfvsmg® Txvcj 0299 Z71 | KMMWG | Target-Date 2020 | 23.28 | 7.26 | 7.82 | ||
| QXKqqttz VwphtTpdjbtpgyj® Xtxnz 3912 H | WFHPX | Target-Date 2025 | 30.34 | 8.44 | 9.07 | ||
| QDBdrxdj GvdvnBrtzppysry® Hmnmb 1496 S9 | TWHKG | Target-Date 2030 | 36.21 | 9.23 | 10.07 | ||
| KZXdbvqv BlsmnTstvgfsccs® Jnwjv 7917 Z42 | RFSRV | Target-Date 2035 | 42.71 | 10.14 | 11.03 | ||
| XRCgfjjm QbjykRhsbytljdw® Pgvwg 0464 F88 | YKXYG | Target-Date 2040 | 47.44 | 10.62 | 11.70 | ||
| YQVhkdjt TcdyvZywspsnbfb® Gpkxs 3401 Y5 | LKSKZ | Target-Date 2045 | 51.67 | 11.18 | 12.09 | ||
| CQDhhkcw ZyfjzNrzlsdlphg® Tdypn 2840 G13 | QSMXN | Target-Date 2050 | 51.73 | 11.26 | 12.15 | ||
| LYMvkzyc QjrnnCtksqbjyfk® Tckfb 8505 K | LDMQK | Target-Date 2055 | 51.67 | 11.23 | 12.08 | ||
| QMMmjvcr TlcygLglwjnntfz® Dbbgy 3060 T529 | GSXFY | Target-Date 2060 | 51.41 | 11.29 | — | ||
| GNHypbmk ZlvzsZkrhcjgvyq® Rnnwt ZqgylrM | WJPLC | Target-Date Retirement | 21.88 | 6.90 | 6.87 | ||
| LhbtHpsvgj Hzjdxr XSL Wbfxqkhtkv 7831 J | BVSQV | Target-Date 2000-2010 | 26.72 | 8.34 | — | ||
| DfhzNyzxsj Chzqyk CWC Yjzxjrwhzj 0806 | CJZVB | Target-Date 2000-2010 | 29.13 | 8.79 | — | ||
| MdyxDjvrhk Zngzqr LPX Pxgtphyccy 3188 T | PQJNY | Target-Date 2015 | 32.03 | 9.25 | — | ||
| RmjdTrzmcb Yvhwfw CHQ Brmkbjpxcy 9388 M | KZRRV | Target-Date 2020 | 35.84 | 9.84 | — | ||
| LhppFnzjlg Xgkzhy XKZ Yxtnqfqddp 2609 V | PGCDM | Target-Date 2025 | 40.94 | 10.67 | — | ||
| WsvqBtppds Njshdw TMW Bjwmwhqfnr 6824 | QYPJY | Target-Date 2030 | 45.93 | 11.45 | — | ||
| SxyfClrjgt Tcytxf WDF Mmrmkcxprx 8604 F | MBDHC | Target-Date 2035 | 50.32 | 12.12 | — | ||
| MxjkDzklwj Cphhfw XVB Jzbmdpwjvm 9161 Y | SDXSD | Target-Date 2040 | 54.34 | 12.73 | — | ||
| HlpbCvlrwy Wdphnx TTS Rhlydnksgs 9532 | PNTHK | Target-Date 2045 | 57.20 | 13.13 | — | ||
| QtzbZpwpvb Pchcpr VZK Jcmtmcflfz 9336 M | CRFJH | Target-Date 2050 | 57.26 | 13.14 | — | ||
| HdvnYynbwr Stxchc TPJ Ndnrvhlkwd 8230 R | WLSHN | Target-Date 2055 | 57.24 | 13.12 | — | ||
| MtxfMpszxl Jhbvld DCL Ncrrgyrzbm 2512 L | MDCLG | Target-Date 2060 | 57.12 | 13.08 | — | ||
| VWDJW GdwfMvlc Fgkql 5282 Njtqyhtspvjgwcv | NFGVR | Target-Date 2025 | 30.90 | 9.68 | 9.87 | ||
| VHXVF PdxzWvrq Ttskv 4432 Psdcgxnftpqkwmf | HNMGH | Target-Date 2030 | 35.54 | 10.19 | 10.65 | ||
| DMHGP JwqfKcyh Qfwyb 4569 Mwzdpkfzwwxcrb | TTVJT | Target-Date 2035 | 40.36 | 10.54 | 11.17 | ||
| VBKVG PdfkKgkz Yvvkj 1734 Qfmkrjtddhccp | LWKDF | Target-Date 2040 | 44.36 | 10.99 | 11.61 | ||
| RWZCJ XcpzKzpd Zxfrp 0436 Fdtjbbzwztgp | RVLRY | Target-Date 2045 | 47.61 | 11.35 | 11.93 | ||
| DHKQV GdlnJflw Vwzkc 6951 Ljplxtlrcktxnq | DGCTB | Target-Date 2050 | 49.38 | 11.51 | 12.12 | ||
| RXGXK VnmyMxdf Hssph 1122 Gfttjfqlglykr | TZDMJ | Target-Date 2055 | 49.55 | 11.40 | 12.02 | ||
| NRZDR QjnxYkmw Mkktp Ckjdcj Vxyfycq | BMYCG | Target-Date Retirement | 26.60 | 8.78 | 8.77 | ||
| TVTTW DLWXFJTV® Nssdc 2132 Ynklp | JLKKF | Target-Date 2060 | 49.76 | — | — | ||
| S. Kgyh Tnrxm Jrmlpwlpjz 548 | PMBGN | Target-Date 2000-2010 | 29.01 | 8.72 | 8.38 | ||
| X. Vrld Jxskj Nctwptwqsl 38 | HDRSW | Target-Date 2015 | 31.89 | 9.20 | 9.15 | ||
| Q. Vctf Stnrt Sksbkysyrm 09 | CRSRG | Target-Date 2020 | 35.83 | 9.79 | 10.13 | ||
| D. Nvmn Djcmc Nggnhyprdn F 6771 R | LRFQZ | Target-Date 2000-2010 | 26.75 | 8.38 | 7.92 | ||
| Q. Fbrz Skwpk Mbxvfrgjwn M 8945 K | HSZCM | Target-Date 2000-2010 | 29.09 | 8.86 | 8.51 | ||
| Y. Ptnx Jfwgv Rqlsbtpmft D 4905 V | MLCQP | Target-Date 2015 | 32.21 | 9.37 | 9.30 | ||
| Z. Qjnk Jgqkr Pvfrvsvnqr Z 1783 | FHKRF | Target-Date 2020 | 35.97 | 9.90 | 10.25 | ||
| H. Nxct Xblsp Glpqdnwwbn X 2040 YKM | BBCDR | Target-Date 2025 | 41.19 | 10.75 | 11.26 | ||
| L. Spkn Zckpf Vsfwlqhfzs L 9452 | ZHPQX | Target-Date 2030 | 46.21 | 11.55 | 12.21 | ||
| R. Dykr Qzjck Fsnjhmbdcy Q 4018 Y | WMVXD | Target-Date 2035 | 50.72 | 12.24 | 12.99 | ||
| V. Gzwr Jvqqy Yhtjxspkkc S 4962 VGQ | MPQQH | Target-Date 2040 | 54.97 | 12.92 | 13.69 | ||
| Y. Zxjn Ghryg Hyqpdwzyhc L 3092 R | YMSNJ | Target-Date 2045 | 57.87 | 13.30 | 14.02 | ||
| D. Vrsw Rpymt Plqkqkzrsq X 6351 GS | JVPZH | Target-Date 2050 | 57.89 | 13.32 | 14.03 | ||
| W. Gvkx Dpphk Dlzhqnwgmh S 2335 G | ZZHRX | Target-Date 2055 | 57.89 | 13.32 | 14.02 | ||
| X. Cxhj Sqdkb Nmdppsqvsn Q 4226 R | LRMDD | Target-Date 2060 | 58.02 | 13.35 | 14.06 |
List Criteria
Gold-Rated Funds
The Analyst Rating for Funds is based on our fund analysts’ conviction in a fund’s ability to outperform its peer group (funds in the same category) and benchmark on a risk-adjusted basis over the long term. If a fund receives a Gold, Silver, or Bronze rating, it means that Morningstar analysts expect it to outperform over a full market cycle of at least five years.
No-Load Funds
This list includes only no-load funds. “No load” refers to a mutual fund that does not charge a fee (known as a load) for buying or selling its shares; the investor typically buys no-load funds directly from a fund company or through a fund supermarket. Load funds, on the other hand, are sold by an advisor or broker and charge a percentage fee at purchase or sale of the shares, which is meant to be compensation for the planner’s investment-selection advice. (Note: Not all advisors sell load funds. Many are compensated via a flat fee or a percentage of all assets under management.) Whether a fund charges a load or not isn’t a reflection of its underlying quality. Many load funds are also Medalists, and some load funds are available without a load through 401(k) or other retirement plans. But we’re including only no-load funds here, since this list is designed to help investors who are primarily doing their own fund-picking.
Distinct Portfolios Only
Many fund families offer multiple versions of the same fund but with variations on the sales fees that are charged and/or investor qualifications. Screening for “distinct portfolios only” removes all but one of these options to avoid having several share classes of the same offering cluttering the list. Morningstar normally designates the oldest share class as the distinct portfolio. In some cases, this share class may be for institutions (such as company retirement funds) or otherwise have a high investment minimum. In those cases, investors may want to consider an “investor” share class of the same fund, though the fund expenses may be higher for those share classes.