2040 Retirement Fund
Data updated: 2026-08-27
C000047657 — 2040 Retirement Fund. Target Date / Glide Path Allocation · $1.45B AUM · 0.37% expense ratio. Holdings, fees, performance and SEC filings.
C000047657 Fund Overview
2040 Retirement Fund is a US mutual fund managed by Mutual Of America Investment CORP, categorised as Target Date / Glide Path Allocation. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Mutual Of America Investment CORP
- Category: Target Date / Glide Path Allocation
- Assets under management: $1.45B
- 1-year return: 18.1%
- SEC CIK: 0000795259
- SEC series ID: S000017202
- Share class ID: C000047657
C000047657 Investment Objective and Strategy
2040 Retirement Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Mutual Of America Investment CORP.
Investment objective
The Fund seeks to achieve current income and capital appreciation appropriate for the asset allocation associated with its approximate year of retirement which is included in the Funds name (Target Retirement Date).
Principal investment strategy
The Fund invests in shares of other series of the MoA Funds in proportions that the Adviser selects to seek to meet the objective of the Fund, which will move toward preservation of capital and production of income as the Target Retirement Date approaches. As of December 31, 2025, the Funds asset allocation among the underlying funds was as follows: ? MoA Core Bond Fund: 13.60% ? MoA Equity Index Fund: 43.10% ? MoA Intermediate Bond Fund: 5.60% ? MoA International Fund: 21.60% ? MoA Mid Cap Equity Index Fund: 7.80% ? MoA Mid Cap Growth Fund: 0.90% ? MoA Mid Cap Value Fund: 0.90% ? MoA Small Cap Equity Index Fund: 1.70% ? MoA Small Cap Growth Fund: 1.50% ? MoA Small Cap Value Fund: 1.50% ? MoA US Government Money Market Fund: 1.80% The Clear Passage 2040 Fund is designed for investors who retired or began withdrawing assets around the year 2040.
Under normal circumstances, the asset allocation will change over time according to a predetermined glide path as the Clear Passage Fund approaches the approximate year of retirement which is included in the Fund's name (Target Retirement Date). The glide path above represents the shifting of asset classes over time. As the glide path shows, generally, the less time that remains until the Target Retirement Date, and for a 10 year period after the Target Retirement Date, the more the Fund will invest in fixed income and the less it will invest in equity. At the Fund's Target Retirement Date, it can have 45% (which can vary by plus or minus 10%) of its assets invested in equities. The Adviser seeks to achieve its investment objectives by investing shares in MoA Funds in a variety of investment categories, including large, mid and small capitalization equity funds and fixed income funds .
The Fund's equity exposure may be allocated among companies of varying market capitalizations and between domestic and international equities as determined by the Adviser. The Fund's fixed income exposure may be allocated among securities of different fixed income sectors and with varying duration and credit quality as determined by the Adviser. The periodic reallocations of the assets of each Clear Passage Fund will be affected by other matters aside from the period of time remaining until the Target Retirement Date, such as current market conditions, the economy, unanticipated events and other factors, so there is no precise timetable or formula for the reallocations of the Target Date Funds, but the target allocations are not expected to vary from the chart by more than plus or minus ten percentage points.
C000047657 Holdings
Top 10 holdings of 2040 Retirement Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| MoA Funds Corp | 39.42% |
| MoA Funds Corp | 21.27% |
| MoA Funds Corp | 14.39% |
| MoA Funds Corp | 6.29% |
| MoA Funds Corp | 5.15% |
| MoA Funds Corp | 2.16% |
| Moa Funds Corp. | 2.13% |
| MoA Funds Corp | 2.10% |
| MoA Funds Corp | 1.96% |
| MoA Funds Corp | 1.77% |
C000047657 Portfolio Allocation
Asset-class allocation of 2040 Retirement Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 97.9% |
| Cash & Equivalents | 2.1% |
C000047657 Performance
Total returns for C000047657 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 8.8% |
| 1 year | 18.1% |
| 3 years (annualised) | 15.8% |
| 5 years (annualised) | 9.2% |
C000047657 Risk Information
Risk metrics for C000047657, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 9.2%
C000047657 Costs and Fees
C000047657 costs about $37 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.37%
- Gross expense ratio: 0.37%
- Portfolio turnover: 17%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000047657 Cashflows
Over the 12 months to 2026-06, 2040 Retirement Fund had net inflows of $66.55M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $13.15M |
| 2026-05 | −$9.85M |
| 2026-04 | −$1.02M |
| 2026-03 | $345.21K |
| 2026-02 | −$316.51K |
| 2026-01 | −$4.22M |
C000047657 Debt Constituents
No individual debt constituents are reported in 2040 Retirement Fund's latest SEC N-PORT filing.
C000047657 Prospectus and SEC Filings
Official 2040 Retirement Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-28
- Prospectus (485BPOS) — filed 2025-04-29
- Prospectus supplement (497) — filed 2026-01-07
- Portfolio holdings (N-PORT) — filed 2026-08-27
- Portfolio holdings (N-PORT) — filed 2026-05-21
- Portfolio holdings (N-PORT) — filed 2026-02-23
- Annual census (N-CEN) — filed 2026-03-12
- Annual census (N-CEN) — filed 2025-02-28
Related Funds
Other Target Date / Glide Path Allocation funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.