# Vanguard Target Retirement 2065 Fund (VLXVX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/vlxvx 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: 2017-07-12 The Vanguard Target Retirement 2065 Fund offers investors a convenient, all-in-one portfolio that automatically rebalances its underlying asset allocation over time. It starts with a diverse mix of investments, progressively shifting from a heavier emphasis on stocks to a greater proportion of bonds as the target retirement year draws nearer. This gradual adjustment continues for roughly seven years past the designated retirement date, eventually aligning its asset distribution with that of the Target Retirement Income Fund. Individuals considering this fund should be comfortable with the m... ## Key Facts | Metric | Value | |---|---| | Price | $44.12 | | Expense Ratio | 0.08% | | Assets Under Management | $17.50B | | NAV | $44.12 | | Holdings Count | 0 | | Distribution Yield (TTM) | 1.82% | | Annual Distribution (TTM) | $0.80 /share | | Distribution Frequency | Annual | | 52-Week Range | $38.44 – $45.81 | | Beta | 1.19 | ## Latest Distribution - Amount: $0.8008 /share - Ex-date: 2025-12-23 - Pay date: 2025-12-24 ## Frequently Asked Questions ### What does VLXVX invest in? The Vanguard Target Retirement 2065 Fund offers investors a convenient, all-in-one portfolio that automatically rebalances its underlying asset allocation over time. It starts with a diverse mix of investments, progressively shifting from a heavier emphasis on stocks to a greater proportion of bonds as the target retirement year draws nearer. This gradual adjustment continues for roughly seven years past the designated retirement date, eventually aligning its asset distribution with that of the Target Retirement Income Fund. Individuals considering this fund should be comfortable with the market fluctuations and inherent risks associated with both equity and fixed-income investments. This specific fund is an excellent choice for those whose retirement timeline falls between 2063 and 2067. ### What is the expense ratio of VLXVX? Vanguard Target Retirement 2065 Fund (VLXVX) charges an expense ratio of 0.08%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is VLXVX? Vanguard Target Retirement 2065 Fund (VLXVX) manages $17.50B 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 VLXVX actively managed or an index fund? VLXVX's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy. ### When was VLXVX launched? Vanguard Target Retirement 2065 Fund (VLXVX) launched in July 2017 and is managed by Vanguard. ### How has VLXVX performed? VLXVX's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does VLXVX pay a dividend? Vanguard Target Retirement 2065 Fund (VLXVX) currently distributes little or no income. Trailing-twelve-month yield is 1.82%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does VLXVX pay dividends? Vanguard Target Retirement 2065 Fund pays dividends Annual. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is VLXVX's dividend yield? VLXVX's trailing-twelve-month yield is 1.82%, calculated from the sum of dividends over the past year divided by the current price. ### When is VLXVX's next ex-dividend date? The most recently announced ex-dividend date for VLXVX 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 VLXVX'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 VLXVX charge its expense ratio? The expense ratio is deducted in tiny daily slices from VLXVX'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 VLXVX cost more than a fund like VOO? VLXVX'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 VLXVX sits within its own category, which is the comparison that actually matters. ### Are there cheaper alternatives to VLXVX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as VLXVX (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/vlxvx - Distribution history: https://www.dividenddata.com/funds/vlxvx/dividend - Holdings & diversification: https://www.dividenddata.com/funds/vlxvx/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/vlxvx/expenses - Peer comparison: https://www.dividenddata.com/funds/vlxvx/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.