Vanguard Target Retirement 2015 Fund (VTXVX) provides a diversified portfolio of Vanguard mutual funds tailored for investors planning to retire in or around 2015, with an asset allocation that gradually shifts to a more conservative mix of approximately 30% equities and 70% fixed income investments as the target date approaches and passes. The fund invests in underlying Vanguard index funds covering U.S. and international stocks, U.S. and international bonds, and short-term Treasury Inflation-Protected Securities (TIPS), reflecting Vanguard's philosophy of broad diversification, low costs, and automatic glide path adjustments managed by a committee of senior investment professionals. It targets retirement savers in defined contribution plans and individual accounts, with operations centered in the United States through The Vanguard Group, Inc., founded in 1975 and headquartered in Malvern, Pennsylvania.
In a major strategic change effective July 8, 2022, Vanguard merged the Target Retirement 2015 Fund into the Vanguard Target Retirement Income Fund (VTINX), converting all VTXVX shares to VTINX shares and redirecting future contributions accordingly to enhance portfolio management efficiencies and align with the coinciding asset allocations of both funds. This merger, part of Vanguard's ongoing optimization of its target-date series, maintained the low expense ratio of 0.08% and seamless transition for shareholders without tax implications in most retirement accounts. No subsequent mergers, acquisitions, or significant product alterations have been reported for this fund line as of 2025, though Vanguard continues to refine its broader Target Retirement Funds suite, including expansions like new lifetime income trusts in collaboration with TIAA.