All charts and data below are CPI-U inflation-adjusted and with dividends reinvested. (Why?)

Total Real Returns

VFORX: Total Real Return Chart (Dividends Reinvested, Inflation Adjusted)

VFORX real return snapshot: after CPI-U inflation, VFORX returned +15.56% over the past year and +4.84% YTD, with dividends reinvested. Since Jun. 7, 2006, VFORX is up +199.26% in real purchasing-power return, or +5.63%/yr, and is currently āˆ’1.51% below its real total-return high on Jun. 2, 2026.

Data ending Fri Jun. 12, 2026

Wed 2006-06-07šŸ’¬ to Fri 2026-06-12 YTD
Return 		1 Year
Return
VFORX × 		+4.84%
2026-06-12 		+15.56%
2026-06-12
Vanguard Target Retirement 2040 Fund Investor Shares Mutual Fund

Returns

Wed 2006-06-07šŸ’¬ to Fri 2026-06-12 Overall
Return 		Exponential
Trendline
VFORX × 		+199.26%
+5.63%/yr 		+6.00%/yr
(R2=0.879)
Vanguard Target Retirement 2040 Fund Investor Shares Mutual Fund

Growth of $10,000

Wed 2006-06-07šŸ’¬ to Fri 2026-06-12 Start
Value 		End
Value
VFORX × 		$10,000.00
2006-06-07 		$29,926.22
2026-06-12
Vanguard Target Retirement 2040 Fund Investor Shares Mutual Fund

Annual Returns

Year VFORX
2026 (YTD) +4.84%
2025 +15.67%
2024 +9.70%
2023 +14.51%
2022 āˆ’22.04%
2021 +7.02%
2020 +13.93%
2019 +21.10%
2018 āˆ’9.05%
2017 +18.22%
2016 +6.52%
2015 āˆ’2.28%
2014 +6.35%
2013 +22.52%
2012 +13.57%
2011 āˆ’5.34%
2010 +13.47%
2009 +24.92%
2008 āˆ’34.55%
2007 +3.23%
2006 +13.65%

Drawdowns

Wed 2006-06-07šŸ’¬ to Fri 2026-06-12 Current
Drawdown 		Worst
Drawdown
VFORX × 		āˆ’1.51%
from 2026-06-02 peak 		āˆ’52.48%
2009-03-09
from 2007-10-09 peak
Vanguard Target Retirement 2040 Fund Investor Shares Mutual Fund

Rolling Returns

Period ending Fri 2026-06-12 1
Year 		2
Years 		3
Years 		5
Years 		10
Years
VFORX × 		+15.56% +26.45%
+12.45%/yr 		+42.59%
+12.55%/yr 		+19.61%
+3.65%/yr 		+99.10%
+7.13%/yr
Vanguard Target Retirement 2040 Fund Investor Shares Mutual Fund