Target Enrollment 2028/2029 Portfolio

Unit Price as of close 04/28/2026: $9.98

Investment Objective

The Target Enrollment Portfolios seek to provide capital appreciation and current income consistent with their current asset allocation. The objective of these options becomes more focused on capital preservation and income as they approach their target date. The Target Enrollment Portfolios are more likely to meet their goals if each Underlying Investment in which each Target Enrollment Portfolio invests achieves its stated investment objectives.

Recent Performance as of 04/28/2026

Last Month	Last Quarter	Year to Date
N/A	N/A	N/A

Avg. Annualized Performance as of 03/31/2026

1 Year	3 Year	5 Year	10 Year
N/A	N/A	N/A	N/A

Portfolio Composition

36.40% Vanguard Total Bond Market II Index Fund

26.73% Vanguard Short-Term Reserves Account

15.60% Vanguard Total International Bond Index Fund

12.76% Vanguard Institutional Total Stock Market Index Fund

8.51% Vanguard Total International Stock Index Fund

View Unit Price by Date

Unit Price as of close 04/28/2026: $9.98

Fees and Expenses

Portfolio Expenses	Administrative Fees
0.045%	0.25%

Administrative Fee (“Program Administrator Fee”) of no more than 0.25% annually.

Risk Potential

Less Risk
Less Reward

More Risk
More Reward

Bond Style

Treasury/
Agency

Quality

Investment-Grade
Corporate

Below Investment-
Grade

Short

Medium

Long

Stock Style

Large

Market Capitalization

Medium

Small

Growth

Blend

Value