# Vanguard Target Retirement 2040 Fund (VFORX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/vforx for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Vanguard · Asset class: Multi-Asset - Strategy: Thematic · Inception: 2006-06-07 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 mus... ## Key Facts | Metric | Value | |---|---| | Price | $54.10 | | Expense Ratio | 0.08% | | Assets Under Management | $118.00B | | NAV | $54.10 | | Holdings Count | 0 | | Distribution Yield (TTM) | 2.55% | | Annual Distribution (TTM) | $1.38 /share | | Distribution Frequency | Annual | | 52-Week Range | $48.29 – $55.90 | | Beta | 1.07 | ## Latest Distribution - Amount: $1.3820 /share - Ex-date: 2025-12-23 - Pay date: 2025-12-24 ## Frequently Asked Questions ### What does VFORX invest in? 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. ### What is the expense ratio of VFORX? Vanguard Target Retirement 2040 Fund (VFORX) charges an expense ratio of 0.08%. This is the annual fee deducted from fund assets to cover management and operations. ### What is VFORX's dividend yield? VFORX's trailing-twelve-month yield is 2.55%, calculated from the sum of dividends over the past year divided by the current price. ### How big is VFORX? Vanguard Target Retirement 2040 Fund (VFORX) manages $118.00B in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is VFORX actively managed or an index fund? VFORX's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy. ### When was VFORX launched? Vanguard Target Retirement 2040 Fund (VFORX) launched in June 2006 and is managed by Vanguard. ### Does VFORX pay a dividend? Yes, Vanguard Target Retirement 2040 Fund (VFORX) distributes dividends to shareholders. The trailing-twelve-month yield is 2.55%. Full dividend history is on this page. ### How often does VFORX pay dividends? Vanguard Target Retirement 2040 Fund pays dividends Annual. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is VFORX's next ex-dividend date? The most recently announced ex-dividend date for VFORX was 2025-12-23. The next ex-date typically follows Annual; once announced it appears at the top of the dividend history table on this page. ### How much will VFORX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.08% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does VFORX charge its expense ratio? The expense ratio is deducted in tiny daily slices from VFORX's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does VFORX cost more than a fund like VOO? VFORX's strategy (current expense ratio 0.08%) is different from a broad-market index tracker like VOO, so its fee belongs to a different cohort. The Cost Verdict card above shows you where VFORX sits within its own category, which is the comparison that actually matters. ### Are there cheaper alternatives to VFORX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as VFORX (0.08%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/vforx - Distribution history: https://www.dividenddata.com/funds/vforx/dividend - Holdings & diversification: https://www.dividenddata.com/funds/vforx/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/vforx/expenses - Peer comparison: https://www.dividenddata.com/funds/vforx/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.