Vanguard Target Retirement 2040 Fund (VFORX)

Fund Assets	105.91B
Expense Ratio	0.08%
Min. Investment	$1,000
Turnover	2.00%
Dividend (ttm)	1.38
Dividend Yield	2.48%
Dividend Growth	20.66%
Payout Frequency	Annual
Ex-Dividend Date	Dec 23, 2025

Previous Close	55.26
YTD Return	10.63%
1-Year Return	17.17%
5-Year Return	51.14%
52-Week Low	48.12
52-Week High	55.90
Beta (5Y)	0.73
Holdings	6
Inception Date	Jun 7, 2006

About VFORX

These Vanguard Target Retirement Funds offer a comprehensive investment solution, consolidating a diversified portfolio into a single offering whose asset allocation strategy dynamically adapts over time. They achieve broad market exposure by gradually scaling back equity holdings and simultaneously boosting fixed-income investments as the fund's designated retirement year draws nearer. This rebalancing process extends for roughly seven years past the target date, ultimately conforming its asset structure to that of the Target Retirement Income Fund. Prospective investors in these funds must be comfortable with the inherent market fluctuations associated with both equity and bond investments. This particular fund is best suited for individuals whose projected retirement falls within the 2038 to 2042 window.

• Fund Family: Vanguard
• Category: Target-Date 2040
• Performance Rating: Above Average
• Risk Rating: Below Average
• Stock Exchange: NASDAQ
• Ticker Symbol: VFORX
• Share Class: Investor Shares
• Index: Index is not available on Lipper Database

Performance

VFORX had a total return of 17.17% in the past year, including dividends. Since the fund's inception, the average annual return has been 8.21%.

Top Holdings

Name	Symbol	Weight
Vanguard Morningstar Total Stock Market Index Fund Institutional Plus Shares	VSMPX	44.70%
Vanguard Total Intl Stock Index Inv	VGTSX	30.08%
Vanguard Total Bond Market II Idx Inv	VTBIX	17.50%
Vanguard Total Intl Bd II Idx Insl	VTILX	7.13%
Mktliq 12/31/2049	n/a	0.56%
Us Dollar	n/a	0.02%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 23, 2025	$1.38201	Dec 24, 2025
Dec 30, 2024	$1.14538	Dec 31, 2024
Dec 27, 2023	$0.936	Dec 28, 2023
Dec 28, 2022	$0.88567	Dec 29, 2022
Dec 29, 2021	$8.6924	Dec 30, 2021
Dec 30, 2020	$0.9125	Dec 31, 2020

Data Sources: Tiingo, Financial Modeling Prep, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Financial Modeling Prep. Several fund data points are also provided by Finnhub.

Last checked:

Aug 19, 2026

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