Vanguard Target Retirement is a suitable target-date series for any investor. Our conviction in the team and process is unchanged, but under our new Morningstar Analyst Rating methodology, its two share classes have been downgraded to Silver from Gold, given the small return differential between target-date series and the presence of other highly rated peers.
Vanguard Target Retirement 2045 Inv VTIVX
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will VTIVX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable VTIVX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the VTIVX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of VTIVX’s parent organization’s priorities and whether they’re in line with investors’ interests.