VTIVX — Vanguard Target Retirement 2045 Fund, Investor Shares
Data updated: 2026-08-28
VTIVX — Vanguard Target Retirement 2045 Fund, Investor Shares. 0.08% expense ratio · no sales load · since 2003. Holdings, fees, performance and SEC filings.
VTIVX Fund Overview
VTIVX — Vanguard Target Retirement 2045 Fund, Investor Shares is a US mutual fund managed by The Vanguard Group, Inc., categorised as Target-Date. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Adviser: The Vanguard Group, Inc.
- Trust: Vanguard Chester Funds
- Category: Target-Date
- Minimum investment: $1,000
- Additional investment: $1
- Inception date: October 27, 2003
- Assets under management: $121.07B
- 1-year return: 21.0%
- Ticker: VTIVX
- SEC CIK: 0000752177
- SEC series ID: S000002574
- Share class ID: C000007077
- FIGI: BBG000BZ6YL5
- LEI: NJLNJ63U3PH5KVZDK159
About VTIVX
Vanguard Target Retirement 2045 Fund (VTIVX) seeks capital appreciation and current income consistent with its current asset allocation. It invests in other Vanguard mutual funds, with a mix of U.S. and international stocks and bonds that becomes more conservative over time, shifting toward bonds as the fund approaches and passes its 2045 target year. Its Investor Shares, launched October 27, 2003, cost 0.08% a year and returned 21.0% in the 12 months to June 30, 2026, based on monthly returns reported to the SEC on Form N-PORT, with 10.8% volatility.
VTIVX Holdings
Top 5 holdings of Vanguard Target Retirement 2045 Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Vanguard Total Stock Market Index Fund | 49.05% |
| Vanguard Total International Stock Index Fund | 33.21% |
| Vanguard Total Bond Market II Index Fund | 12.17% |
| Vanguard Total International Bond II Index Fund | 4.93% |
| Vanguard Cmt Funds-Vanguard Market Liquidity Fund | 0.55% |
VTIVX Portfolio Allocation
Asset-class allocation of Vanguard Target Retirement 2045 Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.4% |
| Cash & Equivalents | 0.5% |
VTIVX Performance
Total returns for VTIVX through June 2026, from SEC filings.
| Period | Total return |
|---|---|
| YTD | 10.25% |
| 1 year | 21.03% |
| 3 years (annualised) | 17.18% |
| 5 years (annualised) | 9.20% |
VTIVX Risk Information
Risk metrics for VTIVX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 10.78%
VTIVX Costs and Fees
VTIVX costs about $8 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.08%
- Gross expense ratio: 0.08%
- Portfolio turnover: 4%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
VTIVX Cashflows
Over the 12 months to 2026-06, Vanguard Target Retirement 2045 Fund had net inflows of $3.75B, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$345.52M |
| 2026-05 | −$160.25M |
| 2026-04 | $256.58M |
| 2026-03 | $385.41M |
| 2026-02 | $248.16M |
| 2026-01 | $415.46M |
VTIVX Debt Constituents
No individual debt constituents are reported in Vanguard Target Retirement 2045 Fund's latest SEC N-PORT filing.
VTIVX Prospectus and SEC Filings
Official Vanguard Target Retirement 2045 Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-01-28
- Prospectus (485BPOS) — filed 2025-01-31
- Prospectus (485BPOS) — filed 2024-01-31
- Portfolio holdings (N-PORT) — filed 2026-08-28
- Portfolio holdings (N-PORT) — filed 2026-05-28
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2025-12-10
- Annual census (N-CEN) — filed 2024-12-12
VTIVX Service Providers
Firms that manage, distribute, hold, administer and audit Vanguard Target Retirement 2045 Fund, as reported on SEC Form N-CEN, fiscal year ending September 30, 2025.
- Adviser: The Vanguard Group, Inc.
- Distributor: Vanguard Marketing Corp.
- Custodian: JPMorgan Chase Bank NA
- Transfer agent: The Vanguard Group, Inc.
- Administrator: The Vanguard Group, Inc.
- Auditor: Pricewaterhousecoopers Llp
Related Funds
Other Target-Date funds tracked on ABC INVEST:
VTIVX: Frequently Asked Questions
What is the expense ratio of Vanguard Target Retirement 2045 Fund (VTIVX)?
VTIVX has a net expense ratio of 0.08%, about $8 a year for every $10,000 invested. VTIVX fees and costs
Does VTIVX charge a sales load?
No. This share class (VTIVX) charges no sales load.
What is the minimum investment for VTIVX?
The minimum initial investment in VTIVX is $1,000, and additional purchases must be at least $1. Source: the fund's summary prospectus (January 2026).
What are VTIVX's top holdings?
As of June 30, 2026, VTIVX held 7 positions. The largest are Vanguard Total Stock Market Index Fund (49.05%), Vanguard Total International Stock Index Fund (33.21%), Vanguard Total Bond Market II Index Fund (12.17%), Vanguard Total International Bond II Index Fund (4.93%) and Vanguard Cmt Funds-Vanguard Market Liquidity Fund (0.55%). All VTIVX holdings
How has Vanguard Target Retirement 2045 Fund performed?
VTIVX returned +21.0% over the 12 months to June 2026, +17.2% a year over 3 years and +9.2% a year over 5 years. VTIVX performance and risk
How large is VTIVX?
VTIVX manages $121.07B (SEC N-PORT, June 2026). Investors added a net $3.75B over the past 12 months.
Who manages VTIVX and when did it launch?
VTIVX is managed by The Vanguard Group, Inc.. It is a series of Vanguard Chester Funds. It launched on October 27, 2003.
How does VTIVX compare with similar Target-Date funds?
Among 324 Target-Date funds with $100M+ in assets, VTIVX ranks #14 of 324 on net expense ratio (0.08%) and #2 of 324 by assets. The largest is Vanguard Target Retirement 2035 Fund (VTTHX). Compare VTIVX with VTTHX
Where can I find VTIVX's prospectus and SEC filings?
VTIVX's latest prospectus (485BPOS) was filed January 28, 2026 and its latest N-PORT holdings report was filed August 28, 2026. All 55 filings are linked on ABC INVEST and on SEC EDGAR (series S000002574). VTIVX SEC filings
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, and annual data from Form N-CEN.
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.