# Vanguard Target Retirement 2045 Fund (VTIVX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/vtivx 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: 2003-10-27 Vanguard Target Retirement Funds present a comprehensive, diversified investment solution within a single offering, with its asset allocation automatically evolving over time. These funds provide extensive market exposure, progressively shifting from a higher stock allocation to a greater bond allocation as the target retirement year draws near. The adjustment process continues for roughly seven years beyond the retirement date, ultimately achieving the allocation strategy of the Target Retirement Income Fund. Prospective investors should be prepared for the typical volatility associated wi... ## Key Facts | Metric | Value | |---|---| | Price | $37.95 | | Expense Ratio | 0.08% | | Assets Under Management | $120.00B | | NAV | $37.95 | | Holdings Count | 0 | | Distribution Yield (TTM) | 2.28% | | Annual Distribution (TTM) | $0.87 /share | | Distribution Frequency | Annual | | 52-Week Range | $33.48 – $39.30 | | Beta | 1.13 | ## Latest Distribution - Amount: $0.8669 /share - Ex-date: 2025-12-23 - Pay date: 2025-12-24 ## Frequently Asked Questions ### What does VTIVX invest in? Vanguard Target Retirement Funds present a comprehensive, diversified investment solution within a single offering, with its asset allocation automatically evolving over time. These funds provide extensive market exposure, progressively shifting from a higher stock allocation to a greater bond allocation as the target retirement year draws near. The adjustment process continues for roughly seven years beyond the retirement date, ultimately achieving the allocation strategy of the Target Retirement Income Fund. Prospective investors should be prepared for the typical volatility associated with both equity and fixed-income markets. This specific fund is an ideal choice for individuals aiming to retire between 2043 and 2047. ### What is the expense ratio of VTIVX? Vanguard Target Retirement 2045 Fund (VTIVX) charges an expense ratio of 0.08%. This is the annual fee deducted from fund assets to cover management and operations. ### What is VTIVX's dividend yield? VTIVX's trailing-twelve-month yield is 2.28%, calculated from the sum of dividends over the past year divided by the current price. ### How big is VTIVX? Vanguard Target Retirement 2045 Fund (VTIVX) manages $120.00B 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 VTIVX actively managed or an index fund? VTIVX's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy. ### When was VTIVX launched? Vanguard Target Retirement 2045 Fund (VTIVX) launched in October 2003 and is managed by Vanguard. ### Does VTIVX pay a dividend? Yes, Vanguard Target Retirement 2045 Fund (VTIVX) distributes dividends to shareholders. The trailing-twelve-month yield is 2.28%. Full dividend history is on this page. ### How often does VTIVX pay dividends? Vanguard Target Retirement 2045 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 VTIVX's next ex-dividend date? The most recently announced ex-dividend date for VTIVX 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 VTIVX'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 VTIVX charge its expense ratio? The expense ratio is deducted in tiny daily slices from VTIVX'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 VTIVX cost more than a fund like VOO? VTIVX'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 VTIVX sits within its own category, which is the comparison that actually matters. ### Are there cheaper alternatives to VTIVX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as VTIVX (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/vtivx - Distribution history: https://www.dividenddata.com/funds/vtivx/dividend - Holdings & diversification: https://www.dividenddata.com/funds/vtivx/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/vtivx/expenses - Peer comparison: https://www.dividenddata.com/funds/vtivx/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.