Vanguard Target Retirement 2040 Fund
Figures last verified October 31, 2026
Glide-path fund of four Vanguard index funds, currently around 80% stocks / 20% bonds.
If you're retiring around 2040, this fund holds roughly 80% global stocks today and will walk that down a percentage point or two a year for the next decade and a half — the standard glide path, built entirely from Vanguard's total-market index funds. Nobody is picking stocks; the only 'active' decision is the de-risking schedule itself, and it's published in advance.
Fidelity's Freedom Index 2040 (FBIFX) is the nearly identical competitor, and the honest comparison comes down to where your accounts already live and a few basis points. The mistake to avoid isn't choosing the wrong brand — it's holding a target-date fund alongside a pile of overlapping index funds, which defeats the one-fund design and quietly cranks your equity allocation above what you chose.
Gen X savers who want one all-index fund through retirement.
VFORX alternatives & comparable funds
If you’re weighing VFORX 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 |
|---|---|---|---|
| VFORX — Vanguard Target Retirement 2040 Fund | Vanguard | 0.08% | $1,000 |
| FBIFX — Fidelity Freedom Index 2040 Fund | Fidelity | 0.12% | $0 |
| SWYGX — Schwab Target 2040 Index Fund | Schwab | 0.08% | $1 |
| VTIVX — Vanguard Target Retirement 2045 Fund | Vanguard | 0.08% | $1,000 |
Head-to-head comparisons
Frequently asked questions
What is the expense ratio of VFORX?
VFORX (Vanguard Target Retirement 2040 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 VFORX?
VFORX requires a minimum initial investment of $1,000.
What does VFORX invest in?
Glide-path fund of four Vanguard index funds, currently around 80% stocks / 20% bonds. It falls in the target-date category and is a target-date fund.
What are good alternatives to VFORX?
The funds most often compared with VFORX are FBIFX, SWYGX, VTIVX — 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 VFORX 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.