Vanguard Target Retirement 2045 Fund
Figures last verified October 31, 2026
Glide-path fund of four Vanguard index funds, currently around 85–90% stocks.
Twenty years from retirement, Vanguard's glide path still has you nearly all-in on stocks — about 90% global equities — because the math says volatility two decades out is a feature you're paid for, not a risk to flee. VTIVX implements that with the series' usual four-fund index chassis and an 0.08% sticker.
A note on the 40% international equity weighting, the most common complaint about these funds: it's higher than many DIY investors choose, and over the US-dominant 2010s it cost performance. It's also exactly what global market weights and Vanguard's capital-markets research support. If you hold this fund, let it be wrong-looking sometimes; that's what owning a disagreement-proof portfolio means.
Savers in their late 30s and 40s targeting a mid-2040s retirement.
VTIVX alternatives & comparable funds
If you’re weighing VTIVX against the field, these are the funds most investors line it up against — same job, different provider, slightly different terms.
| Fund | Family | Expense Ratio | Minimum |
|---|---|---|---|
| VTIVX — Vanguard Target Retirement 2045 Fund | Vanguard | 0.08% | $1,000 |
| VFORX — Vanguard Target Retirement 2040 Fund | Vanguard | 0.08% | $1,000 |
| VFIFX — Vanguard Target Retirement 2050 Fund | Vanguard | 0.08% | $1,000 |
| FIPFX — Fidelity Freedom Index 2050 Fund | Fidelity | 0.12% | $0 |
Frequently asked questions
What is the expense ratio of VTIVX?
VTIVX (Vanguard Target Retirement 2045 Fund) has an expense ratio of 0.08%, which works out to roughly $8 per year for every $10,000 invested. That is very low by industry standards, where the average fund still charges well over 0.40%.
What is the minimum investment for VTIVX?
VTIVX requires a minimum initial investment of $1,000.
What does VTIVX invest in?
Glide-path fund of four Vanguard index funds, currently around 85–90% stocks. It falls in the target-date category and is a target-date fund.
What are good alternatives to VTIVX?
The funds most often compared with VTIVX are VFORX, VFIFX, FIPFX — broadly similar exposure from different providers, with small differences in fee, minimum, and portability that usually come down to which brokerage holds your account.
Expense ratio and minimum for VTIVX drawn from Vanguard fund documentation; last verified October 31, 2026. Figures change — confirm against the official prospectus before investing. This review is editorial opinion, not investment advice.