Vanguard Target Retirement 2020 Fund 

Vanguard Target Retirement Funds furnish investors with a single, comprehensively diversified fund whose underlying asset allocation progressively evolves. These funds ensure broad diversification by systematically decreasing their equity holdings and augmenting their fixed-income investments as the target retirement year draws nearer. This dynamic adjustment process persists for roughly seven years beyond the target date, at which point their asset composition harmonizes with that of the Target Retirement Income Fund. Potential investors should be comfortable with the inherent market volatility risks associated with both stocks and bonds. This specific fund is designed for individuals anticipating retirement between 2018 and 2022.