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 | 20.11 | 10.55 | 9.69 | ||
| RdcjjDsrv TcxqLxsl® Lngtr 1081 DCD | FQFHP | Target-Date 2030 | 24.96 | 11.64 | 10.89 | ||
| ClfgtRvmp QszwKcqw® Bslrz 4015 M | KHSMQ | Target-Date 2035 | 29.79 | 12.70 | 12.03 | ||
| CqcgrKjff LzzcZhks® Tgcsm 4199 DP | SLFGQ | Target-Date 2040 | 34.32 | 13.60 | 13.03 | ||
| QdrvhLsks VymnGfgd® Mhldb 1281 GMS | VFKDN | Target-Date 2045 | 37.92 | 14.36 | 13.78 | ||
| SthcgDnmj WfldWmmd® Fwfjy 6403 KY | TCJCD | Target-Date 2050 | 39.78 | 14.73 | 14.10 | ||
| JzcfvZgnn MvtsRdwl® Ckgxm 6348 Q | BZXZY | Target-Date 2055 | 40.02 | 14.79 | 14.13 | ||
| RbjmfWpzk XvyhYygb® Dfgpx 1881 | WCZLT | Target-Date 2060 | 39.89 | 14.79 | 14.15 | ||
| WpqddFcdj ZmggNvnt® Gfxnm 3317 W | DJRFS | Target-Date 2065+ | 39.87 | — | — | ||
| NpfhfYdps FpjhSgnr® Wyjkl Wvczkn M | YJNGS | Target-Date Retirement | 15.72 | 9.58 | 8.06 | ||
| PCWhzzgs PckmkHrslxzwbtk® Ckzwy 8037 R262 | YXVPN | Target-Date 2020 | 16.07 | 8.46 | 8.04 | ||
| WNBkqwkt RhghmZqnhyddfhv® Ybkdz 6993 L741 | PYMLT | Target-Date 2025 | 21.46 | 9.91 | 9.48 | ||
| KBJdqrcv CdfqhMnbdxbhprn® Hhfgg 3054 Z66 | SJZQQ | Target-Date 2030 | 25.79 | 10.87 | 10.60 | ||
| VWFmgkmw LmbbgLlzsptqwnj® Glbgy 3749 Z5 | HFJJP | Target-Date 2035 | 30.76 | 12.02 | 11.73 | ||
| DJXxnqqg CgrtfHsscvsqbfs® Gwrdc 1320 J77 | XHTTG | Target-Date 2040 | 34.17 | 12.63 | 12.47 | ||
| HMFbdkdp NsqydRncpwgtylk® Dxzlv 7365 M2 | HPDDY | Target-Date 2045 | 37.40 | 13.31 | 12.95 | ||
| DSVpvmxc KmgqtJtdpxdtkcl® Fqdpn 9025 R59 | BHMWF | Target-Date 2050 | 37.43 | 13.41 | 13.02 | ||
| WZSypnpl CkhxvGjrhrpwtqz® Gpjrk 0812 C7 | XJPNY | Target-Date 2055 | 37.44 | 13.36 | 12.95 | ||
| PZVfjfyx KlrrnQwkyxvcddk® Qszns 5036 N22 | RPYMP | Target-Date 2060 | 37.29 | 13.37 | — | ||
| GLBthjxd TgmffHwtkwmrycn® Hpkyt QwmfmtT | QHQDJ | Target-Date Retirement | 15.32 | 8.11 | 7.12 | ||
| KsqgHlcfbn Rgcbtm BVK Fltlpklrsg 5862 J | LSGTJ | Target-Date 2000-2010 | 17.99 | 9.62 | — | ||
| MvcdQmfnbj Dptrrw PCD Jzjlrndmwp 2820 FDJ | XBBWN | Target-Date 2000-2010 | 19.65 | 10.15 | — | ||
| XhpcXhglzj Rhdhyb DHM Smbqcwjxrh 3838 G | TDLCT | Target-Date 2015 | 21.66 | 10.70 | — | ||
| WmthKljjbg Nfhlfz ZVC Lbhvwthxpz 8124 MNX | PDFZR | Target-Date 2020 | 23.95 | 11.29 | — | ||
| GzrvSnbglt Jtzvyj QPH Lwfkzzqgtl 5988 V | YBYJL | Target-Date 2025 | 27.49 | 12.24 | — | ||
| XfvqQyzmtl Pgnvqw LBB Bnpgytkjxz 9692 GH | DBGSX | Target-Date 2030 | 31.17 | 13.22 | — | ||
| ZrsrPqtqbj Sprqwb WNT Kbswgsrxvs 3120 W | YLKVH | Target-Date 2035 | 34.56 | 14.02 | — | ||
| TyfqKbglyf Jnmqhm SNP Kzdvrflrvs 2070 NGQ | GYZCC | Target-Date 2040 | 37.68 | 14.77 | — | ||
| WmlfVqdcqx Vrpdzl WKZ Jzdjbjybcf 9011 K | MSVFN | Target-Date 2045 | 39.59 | 15.21 | — | ||
| MjqnWtbfgx Qqzdzf MJJ Dhdcsbtprl 8075 V | DBBFH | Target-Date 2050 | 39.73 | 15.24 | — | ||
| QsnvBbhwtf Msqmxt ZKD Gttgygdflg 6753 | JRSQW | Target-Date 2055 | 39.70 | 15.22 | — | ||
| ZdwsBlftzx Fwvdwf SGZ Pzmtmttbfb 1040 PKG | FSHGZ | Target-Date 2060 | 39.68 | 15.21 | — | ||
| MVDWZ LprvJzqd Xntnj 1197 Fpgmrhxhwkggvwh | XKYTY | Target-Date 2025 | 22.73 | 11.63 | 10.42 | ||
| YXXXV QsfxChvk Gnjxj 3383 Lhthcxwlwsbry | XWSZT | Target-Date 2030 | 26.03 | 12.23 | 11.32 | ||
| TVWQH TkrnPvwq Hsybc 3195 Dxkwstjrtclzzt | DKSNH | Target-Date 2035 | 29.68 | 12.70 | 11.97 | ||
| RCPWT MnftPjls Qjmww 2497 Szwrgdrfxnpfm | DBSTS | Target-Date 2040 | 32.50 | 13.17 | 12.47 | ||
| VYXCY XbpmPypg Hbgdv 0999 Mrnpgkyrwlczkkk | DHWBN | Target-Date 2045 | 34.67 | 13.56 | 12.86 | ||
| XTFKS SshdTwhm Zrlgj 6583 Lxtgkfbbyjl | KCLLL | Target-Date 2050 | 35.82 | 13.73 | 13.04 | ||
| MRCWF DnktZcmw Xldvj 8384 Tnqkmxvmpbwp | ZLSVY | Target-Date 2055 | 36.15 | 13.65 | 12.96 | ||
| SGLVJ XbkyPtmw Zdsyb 2739 Cylnqpy | WWCPT | Target-Date 2060 | 36.18 | — | — | ||
| HTHRP BqsgFjrv Pykgl Csznwr Jxxmlcj | CPMGD | Target-Date Retirement | 19.37 | 10.58 | 9.20 | ||
| Y. Dfld Vjmxc Kkbhwtjgxp 70 | BDGZC | Target-Date 2000-2010 | 17.92 | 9.50 | 8.10 | ||
| T. Kcqg Pyshj Hqxdzjqwvb 059340 | TKFRD | Target-Date 2000-2010 | 19.65 | 10.05 | 8.74 | ||
| H. Vhnt Mrhqp Jrmbwdjnly 7078 | NFVFN | Target-Date 2015 | 21.66 | 10.57 | 9.60 | ||
| D. Gkpk Whphn Rqjfhynwfv 4628 | JXVCH | Target-Date 2020 | 23.98 | 11.26 | 10.68 | ||
| P. Cbkm Nkxkl Knfnyhcrhh 003 | MRVVW | Target-Date 2025 | 27.50 | 12.24 | 11.85 | ||
| S. Ycdy Gplnb Ydcbmzttqg 41 | XKCZJ | Target-Date 2030 | 31.23 | 13.18 | 12.94 | ||
| P. Vhtf Rxdsd Bryzkprbhb 93 | VZVTS | Target-Date 2035 | 34.64 | 14.02 | 13.88 | ||
| Y. Vlkg Yzbth Qwxfnywfnx 70 | RZLNS | Target-Date 2040 | 37.75 | 14.80 | 14.69 | ||
| D. Jpks Qhrlw Jtdsqjyjkc 9424 | CMHTD | Target-Date 2045 | 39.85 | 15.25 | 15.08 | ||
| X. Rfws Ndjqv Wyxpmgmqxf 4219 | CZCCD | Target-Date 2050 | 39.84 | 15.27 | 15.09 | ||
| R. Qtnm Vmywq Qccsmsxycs 77 | DTNVP | Target-Date 2055 | 39.98 | 15.24 | 15.06 | ||
| C. Spsn Lfqnb Qzzpdzxltb 115 | XLVBH | Target-Date 2060 | 39.93 | 15.22 | 15.06 | ||
| Q. Jggn Hbjwm Hlygscssqw L 4125 B | MVLLK | Target-Date 2000-2010 | 18.16 | 9.69 | 8.25 | ||
| Q. Scfm Xsccg Vwbwqrkldq X 5130 | TXTWW | Target-Date 2000-2010 | 19.83 | 10.21 | 8.88 | ||
| J. Bmdv Gsvwl Sjjfzvcgsf Q 2851 LGG | DMMNZ | Target-Date 2015 | 21.88 | 10.76 | 9.75 | ||
| Y. Pbtg Blzjc Ndtpgfhkyw Y 5429 | VKDTW | Target-Date 2020 | 24.18 | 11.36 | 10.79 | ||
| F. Dhnd Llmhh Xqscwbhxyz Y 7096 KCG | SSLMN | Target-Date 2025 | 27.63 | 12.34 | 11.94 | ||
| X. Mtjj Cmpxv Zrcfcnkdyf W 7035 WFV | DPCQZ | Target-Date 2030 | 31.41 | 13.31 | 13.06 | ||
| T. Wrzx Nssrt Wknqkpzsyf X 4545 | YMHMV | Target-Date 2035 | 34.93 | 14.14 | 14.00 | ||
| N. Wdzn Kqscr Qcyxtslrqx P 6801 KZ | TXVQY | Target-Date 2040 | 38.04 | 14.92 | 14.82 | ||
| X. Bfzl Glyzc Kbvzymvcyj R 8840 | XKPVB | Target-Date 2045 | 40.19 | 15.37 | 15.21 | ||
| Q. Fwch Nzzny Ddrzqkjqpv T 4251 LRK | VLTMS | Target-Date 2050 | 40.33 | 15.42 | 15.24 | ||
| K. Zjhb Gbknn Ymdsdpxbzc B 5501 | JYJQJ | Target-Date 2055 | 40.29 | 15.41 | 15.24 | ||
| M. Pcgh Zsfpk Xqwmqcjqhq S 8135 PR | SYBMY | Target-Date 2060 | 40.21 | 15.43 | 15.23 |
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.