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The Vanguard Target Retirement 2025 Fund (VTWNX) seeks to provide capital appreciation and income over the long term, with a target retirement date of 2025.

The fund invests in a diversified portfolio of stocks, bonds, and other investments. The asset allocation is designed to gradually shift from higher-risk investments to lower-risk investments as the target retirement date approaches.

The fund’s risk profile is considered moderate. The fund is exposed to the risks associated with investing in stocks, bonds, and other investments, including the risk of loss of principal.

The fund is suitable for investors who are planning to retire around 2025 and are comfortable with a moderate level of risk.

Past performance is not a guarantee of future results. The value of your investment in the fund may fluctuate, and you could lose money.
Before investing in the fund, you should carefully consider the fund’s investment objectives, risks, charges, and expenses. This and other information is contained in the fund’s prospectus, which you can obtain by calling 1-800-662-7447 or visiting vanguard.com. Please read the prospectus carefully before investing.

Vanguard offers a wide range of investment products, including mutual funds, ETFs, and annuities. Vanguard is committed to providing investors with low-cost, high-quality investment products.



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