BlackRock LifePath Index 2040 Fund
Data updated: 2026-08-25
C000101150 — BlackRock LifePath Index 2040 Fund. Target Date / Glide Path Allocation · $15.52B AUM. Holdings, fees, performance and SEC filings.
C000101150 Fund Overview
BlackRock LifePath Index 2040 Fund is a US mutual fund managed by BlackRock Funds III, 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: BlackRock Funds III
- Category: Target Date / Glide Path Allocation
- Assets under management: $15.52B
- 1-year return: 18.5%
- SEC CIK: 0000893818
- SEC series ID: S000032780
- Share class ID: C000101150
C000101150 Investment Objective and Strategy
BlackRock LifePath Index 2040 Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by BlackRock Funds III.
Investment objective
The investment objective of BlackRock LifePath Index 2040 Fund (LifePath Index 2040 Fund or the Fund), a series of BlackRock Funds III (the Trust), is to seek to provide for retirement outcomes based on quantitatively measured risk. In pursuit of this objective, LifePath Index 2040 Fund will be broadly diversified across global asset classes, with asset allocations becoming more conservative over time.
Principal investment strategy
LifePath Index 2040 Fund allocates and reallocates its assets among a combination of equity and bond index funds and money market funds (the Underlying Funds) in proportions based on its own comprehensive investment strategy. LifePath Index 2040 Fund seeks to provide for retirement outcomes based on quantitatively measured risk. BFA employs a multi-dimensional approach to assess risk for LifePath Index 2040 Fund and to determine LifePath Index 2040 Funds allocation across asset classes. As part of this multi-dimensional approach, BFA aims to quantify risk using proprietary risk measurement tools that, among other things, analyze historical and forward-looking securities market data, including risk, asset class correlations, and expected returns. Under normal circumstances, the Fund intends to invest primarily in affiliated open-end index funds and affiliated exchange-traded funds (ETFs).
LifePath Index 2040 Fund will invest, under normal circumstances, at least 80% of its assets in securities or other financial instruments that are components of or have economic characteristics similar to the securities included in its custom benchmark index, the LifePath Index 2040 Fund Custom Benchmark. LifePath Index 2040 Fund is designed for investors expecting to retire or to begin withdrawing assets around the year 2040. The Fund employs a passive management approach, attempting to invest in a portfolio of assets whose performance is expected to match approximately the performance of the Funds custom benchmark index. Certain Underlying Funds may invest in real estate investment trusts (REITs), foreign securities, emerging market securities, below investment-grade bonds, infrastructure, commodities and derivative securities or instruments, such as options and futures, the value of which is derived from another security, a currency or an index, when seeking to match the performance of a particular market index.
The Fund and certain Underlying Funds may also lend securities with a value up to 33 1 / 3 % of their respective total assets to financial institutions that provide cash or securities issued or guaranteed by the U.S. Government as collateral. Under normal circumstances, the asset allocation will change over time according to a predetermined glide path as the Fund approaches its target date. The glide path below represents the shifting of asset classes over time. As the glide path shows, the Funds asset allocations become more conservative prior to retirement as time elapses. This reflects the need for reduced investment risks as retirement approaches and the need for lower volatility of the Fund, which may be a primary source of income after retirement. LifePath Index 2040 Fund is one of a group of funds referred to as the LifePath Index Funds, each of which seeks to provide for retirement outcomes based on quantitatively measured risk that investors on average may be willing to accept given a particular time horizon.
The following chart illustrates the glide path the target allocation among asset classes as the LifePath Index Funds approach their target dates: The following table lists the target allocation by years until retirement: Years Until Retirement Equity Funds (includes REITs) Fixed-Income Funds ? ?45 99 % 1 % ? ?40 99 % 1 % ? ?35 99 % 1 % ? ?30 99 % 1 % ? ?25 95 % 5 % ? ?20 87 % 13 % ? ?15 77 % 23 % ? ?10 65 % 35 % ? ?5 53 % 47 % ? ?0 40 % 60 % The asset allocation targets are established by the portfolio managers. The investment team, including the portfolio managers, meets regularly to assess market conditions, review the asset allocation targets of the Fund, and determine whether any changes are required to enable the Fund to achieve its investment objective. Although the asset allocation targets listed for the glide path are general, long-term targets, BFA may periodically adjust the proportion of equity index funds and fixed-income index funds in the Fund, based on an assessment of the current market conditions, the potential contribution of each asset class to the expected risk and return characteristics of the Fund, reallocations of Fund composition to reflect intra-year movement along the glide path and other factors.
In general, such adjustments will be limited; however, BFA may determine that a greater degree of variation is warranted to protect the Fund or achieve its investment objective. BFAs second step in the structuring of the Fund is the selection of the Underlying Funds. Factors such as fund classifications, historical risk and performance, and the relationship to other Underlying Funds in the Fund are considered when selecting Underlying Funds. The specific Underlying Funds selected for the Fund are determined at BFAs discretion and may change as deemed appropriate to allow the Fund to meet its investment objective. See the Details About the Funds Information About the Underlying Funds section of the prospectus for a list of the Underlying Funds, their classification into equity, fixed income or money market funds and a brief description of their investment objectives and primary investment strategies.
Within the prescribed percentage allocations to equity and fixed-income index funds, BFA seeks to diversify the Fund. The allocation to Underlying Funds that track equity indexes may be further diversified by style (including both value and growth), market capitalization (including large cap, mid cap, small cap and emerging growth), region (including domestic and international (including emerging markets)) or other factors. The allocation to Underlying Funds that track fixed-income indexes may be further diversified by sector (including government, corporate, agency, and other sectors), duration (a calculation of the average life of a bond which measures its price risk), credit quality (including non-investment grade debt or junk bonds), geographic location (including U.S. and foreign-issued securities), or other factors.
Though BFA seeks to diversify the Fund, certain Underlying Funds may concentrate their investments in specific sectors or geographic regions or countries. The percentage allocation to the various styles of equity and fixed-income Underlying Funds is determined at the discretion of the investment team and can be changed to reflect the current market environment.
C000101150 Holdings
Top 10 holdings of BlackRock LifePath Index 2040 Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Russel 1000 Lifepath | 42.05% |
| iShares Core MSCI Total International Stock ETF | 26.66% |
| iShares US Intermediate Government Bond Index Fund/BlackRock | 7.37% |
| iShares US Securitized Bond Index Fund/BlackRock | 6.11% |
| iShares US Intermediate Credit Bond Index Fund/BlackRock | 3.93% |
| iShares US Long Credit Bond Index Fund/BlackRock | 3.14% |
| iShares US Long Government Bond Index Fund/BlackRock | 3.10% |
| iShares FTSE NAREIT All Equity REITs Index Fund | 2.98% |
| iShares Global Infrastructure ETF | 2.25% |
| Small Cap Lifepath | 1.88% |
C000101150 Portfolio Allocation
Asset-class allocation of BlackRock LifePath Index 2040 Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.8% |
| Cash & Equivalents | 0.2% |
C000101150 Performance
Total returns for C000101150 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 9.2% |
| 1 year | 18.5% |
| 3 years (annualised) | 15.5% |
| 5 years (annualised) | 8.1% |
C000101150 Risk Information
Risk metrics for C000101150, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 9.3%
C000101150 Costs and Fees
C000101150 costs about $14 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.14%
- Gross expense ratio: 0.18%
- Portfolio turnover: 16%
- Brokerage commissions: 0.15 bps of average net assets (SEC N-CEN)
C000101150 Cashflows
Over the 12 months to 2026-06, BlackRock LifePath Index 2040 Fund had net outflows of $199.46M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$33.94M |
| 2026-05 | −$57.06M |
| 2026-04 | −$129.80M |
| 2026-03 | −$80.80M |
| 2026-02 | −$98.61M |
| 2026-01 | −$84.80M |
C000101150 Debt Constituents
No individual debt constituents are reported in BlackRock LifePath Index 2040 Fund's latest SEC N-PORT filing.
C000101150 Prospectus and SEC Filings
Official BlackRock LifePath Index 2040 Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-30
- Prospectus (485BPOS) — filed 2025-04-29
- Prospectus supplement (497) — filed 2025-05-13
- Portfolio holdings (N-PORT) — filed 2026-08-25
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-24
- Annual census (N-CEN) — filed 2026-03-16
- Annual census (N-CEN) — filed 2025-03-17
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.