Asset Allocations in Age-Based Portfolios - Direct

http://www.savingforcollege.com/articles/asset-allocations-in-age-based-portfolios---direct

We have compiled the information below showing the various asset allocations in selected age-based portfolios of direct-sold 529 plans. (Similar information relating to advisor-sold 529 plans is also available.) Our selection is limited to portfolios for beneficiaries age 17 and older. The purpose of our study was to compare how 529 plans allocate among stocks, bonds, and money market (or similar) investments as the beneficiary gets close to college age or is in college. In addition to showing the asset allocations, the table shows the investment performance of each portfolio for the one- and three-year periods ended September 30, 2016 ("NA" means the portfolio was not in existence for the full measurement period).

This data was compiled on December 21, 2016. We will post corrected data as any errors become known to us.

	Investment Allocation	Annualized Return at September 30, 2016 (%)
	Stock Bonds Cash/MM	One-Year	Three-Year
Alabama: Aggressive
--Aggressive Portfolio Ages 17-18		n/a	n/a
--Aggressive Portfolio Ages 19+		n/a	n/a
Alabama: Moderate
--Moderate Portfolio Ages 17-18		n/a	n/a
--Moderate Portfolio Ages 19+		n/a	n/a
Alabama: Conservative
--Conservative Portfolio Ages 17-18		n/a	n/a
--Conservative Portfolio Ages 19+		n/a	n/a
Alaska T Rowe Price
--Portfolio for College		5.83	3.5
Alaska Univ. of Alaska
--Portfolio for College		5.83	3.5
Arizona Fidelity: Fidelity Funds
--College Portfolio		6.45	3.34
Arizona Fidelity: Fidelity Index
--College Portfolio		4.88	2.86
Arizona Fidelity: Multi-Firm
--College Portfolio		6.16	3
Arkansas: Aggressive
--Ages 16-18		7.06	4.41
--Ages 19+		3.25	1.86
Arkansas: Moderate
--Ages 16-18		3.25	1.86
--Ages 19+		3.25	1.86
Arkansas: Conservative
--Ages 16-18		3.25	1.86
--Ages 19+		n/a	n/a
California: Active
--Age Band 17 Years		5.7	3.7
--Age Band 18 Years and over		4.59	3.05
California: Passive
--Age Band 17 Years		5.75	3.66
--Age Band 18 Years and over		4.55	3.02
Colorado: Aggressive
--Ages 16 through 18		7.38	5.01
--Ages 19+		3.56	2.38
Colorado: Moderate
--Ages 16 through 18		3.56	2.38
--Ages 19+		3.56	2.38
Colorado: Conservative
--Ages 16 through 18		3.56	2.38
--Ages 19+		0.17	0.06
Connecticut: Aggressive Managed
--Ages 15-17		7.74	4.5
--Ages 18+		5.63	3.35
Connecticut: Moderate Managed
--Ages 15-17		5.61	3.41
--Ages 18+		4.35	2.68
Connecticut: Conservative Managed
--Ages 15-17		3.55	2.27
--Ages 18+		2.23	1.5
Delaware: Fidelity Funds
--College Portfolio		6.46	3.31
Delaware: Index
--College Portfolio		4.92	2.89
Delaware: Multi-Firm
--College Portfolio		6.1	3.02
District of Columbia
--Ages 17+		4.68	3.69
Florida
--Ages 16+		5.85	3.75
Georgia: Aggressive Managed
--Age 17		8.21	5.11
--Ages 18+		6.47	4.15
Georgia: Managed
--Age 17		5.96	3.82
--Ages 18+		4.63	3.07
Hawaii
--Ages 16+		3.67	1.96
Idaho: Aggressive
--Ages 17-18		7.21	4.52
--Ages 19+		n/a	n/a
Idaho: Moderate
--Ages 17-18		n/a	n/a
--Ages 19+		3.5	1.96
Idaho: Conservative
--Ages 17-18		3.5	1.96
--Ages 19+		n/a	n/a
Illinois Bright Start: Active
--Ages 15-17		5.65	3.67
--Ages 18+		3.15	1.94
Illinois Bright Start: Index
--Ages 15-17		5.91	4.13
--Ages 18+		3.6	2.69
Indiana
--Ages 16-17		5.95	3.75
--Ages 18+		3.9	2.26
Iowa: Aggressive Growth
--Ages 16-18		10.35	6.25
--Ages 19+		7.21	4.91
Iowa: Growth
--Ages 16-18		8.81	5.6
--Ages 19+		3.74	2.57
Iowa: Moderate Growth
--Ages 16-18		7.21	4.91
--Ages 19+		0.26	0.09
Iowa: Conservative Growth
--Ages 16-18		3.74	2.57
--Ages 19+		0.26	0.09
Kansas Learning Quest: Aggressive
--Ages 15-17		9.12	5.12
--Ages 18+		n/a	n/a
Kansas Learning Quest: Moderate
--Ages 15-17		6.19	3.43
--Ages 18+		2.18	1.09
Kansas Learning Quest: Conservative
--Ages 15-17		6.19	3.43
--Ages 18+		2.18	1.09
Kansas Learning Quest: Index
--Ages 15-17		7.77	5.05
--Ages 18+		2.18	1.09
Kansas Schwab: Aggressive
--Ages 15-17		7.32	3.99
--Ages 18+		2.42	1.05
Kansas Schwab: Moderately Aggressive
--Ages 15-17		5.18	2.74
--Ages 18+		2.42	1.05
Kansas Schwab: Moderate
--Ages 15-17		5.18	2.74
--Ages 18+		2.42	1.05
Kansas Schwab: Moderately Conservative
--Ages 15-17		5.18	2.74
--Ages 18+		2.42	1.05
Kansas Schwab: Aggressive (Index)
--Ages 15-17		7.97	4.91
--Ages 18+		2.16	1.31
Kansas Schwab: Moderately Aggressive (Index)
--Ages 15-17		5.36	3.4
--Ages 18+		2.16	1.31
Kansas Schwab: Moderate (Index)
--Ages 15-17		5.36	3.4
--Ages 18+		2.16	1.31
Kansas Schwab: Moderately Conservative (Index)
--Ages 15-17		5.36	3.4
--Ages 18+		2.16	1.31
Kentucky
--Age 17		n/a	n/a
--Ages 18+		n/a	n/a
Louisiana: Aggressive
--Ages 16+		n/a	n/a
Louisiana: Growth
--Ages 16+		n/a	n/a
Louisiana: Moderate
--Ages 16+		n/a	n/a
Maine
--BlackRock Ages 17-19		4.65	3.66
--BlackRock Ages 20+		1.68	1.28
--iShares Ages 17-19		4.78	3.21
--iShares Ages 20+		1.34	0.83
Maryland
--Portfolio for College		4.42	2.4
Massachusetts: Fidelity Funds
--College Portfolio		6.44	3.33
Massachusetts: Fidelity Index
--College Portfolio		4.88	2.86
Massachusetts: Multi-Firm
--College Portfolio		6.14	3.04
Michigan: Aggressive
--Age 17		8.08	5.02
--Ages 18+		6.59	4.2
Michigan: Moderate
--Age 17		5.76	3.82
--Ages 18+		4.92	3.33
Michigan: Conservative
--Age 17		4.53	3
--Ages 18+		3.94	2.59
Minnesota
--Age 17		4.98	n/a
--Ages 18+		4.17	n/a
Mississippi
--Age 17		4.69	2.81
--Ages 18+		3.01	1.72
Missouri: Aggressive
--Ages 16-18		8.78	5.56
--Ages 19+		7.17	4.83
Missouri: Moderate
--Ages 16-18		7.17	4.83
--Ages 19+		3.85	2.63
Missouri: Conservative
--Ages 16-18		3.85	2.63
--Ages 19+		0.7	0.32
Achieve Montana
--Age 15-17		n/a	n/a
--Age 18+		n/a	n/a
Nebraska NEST: Aggressive
--Ages 15-18		8.54	4.94
--Ages 19+		6.47	3.7
Nebraska NEST: Growth
--Ages 15-18		6.47	3.7
--Ages 19+		4.75	2.13
Nebraska NEST: Index
--Ages 15-18		4.75	2.36
--Ages 19+		2.31	1.25
Nebraska NEST: Conservative
--Ages 15-18		2.41	1.19
--Ages 19+		0.5	0.36
Nebraska TD Ameritrade: Aggressive
--Ages 15-18		8.29	4.67
--Ages 19+		6.38	3.45
Nebraska TD Ameritrade: Growth
--Ages 15-18		6.29	3.45
--Ages 19+		4.53	1.84
Nebraska TD Ameritrade: Index
--Ages 15-18		4.43	2.1
--Ages 19+		2.15	1.01
Nebraska TD Ameritrade: Conservative
--Ages 15-18		2.25	0.91
--Ages 19+		0.2	0
Nevada SSgA Upromise
--SSGA College Today Portfolio		0.89	0.33
Nevada USAA
--Ages 16-17		3.73	n/a
--Ages 18+		2.23	2.24
Nevada Vanguard: Aggressive
--Ages 16-18		7.2	4.85
--Ages 19+		3.41	2.26
Nevada Vanguard: Moderate
--Ages 16-18		3.41	2.26
--Ages 19+		3.41	2.26
Nevada Vanguard: Conservative
--Ages 16-18		3.41	2.26
--Ages 19+		0.76	0.34
New Hampshire: Fidelity Funds
--College Portfolio		6.41	3.32
New Hampshire: Fidelity Index
--College Portfolio		4.89	2.87
New Hampshire: Multi-Firm
--College Portfolio		6.13	3.04
New Jersey: Growth
--Ages 17+		4.15	2.49
New Jersey: Conservative
--Ages 17+		1.19	0.53
New Jersey: Moderate
--Ages 17+		2.49	1.26
New Mexico : Aggressive
--Ages 15-17		4.71	3.19
--Ages 18+		3.32	2.21
New Mexico : Growth
--Ages 15-17		3.32	2.21
--Ages 18+		2.59	n/a
New Mexico : Balanced
--Ages 15-17		2.59	n/a
--Ages 18+		1.5	n/a
New Mexico : Index Aggressive
--Ages 15-17		4.28	3.54
--Ages 18+		2.56	2.51
New Mexico : Index Growth
--Ages 15-17		2.56	2.51
--Ages 18+		3.3	n/a
New Mexico : Index Balanced
--Ages 15-17		3.3	n/a
--Ages 18+		1	n/a
New York: Aggressive
--Ages 16-18		7.63	5.51
--Ages 19+		3.88	2.53
New York: Moderate
--Ages 16-18		3.88	2.53
--Ages 19+		3.88	2.53
New York: Conservative
--Ages 16-18		3.88	2.53
--Ages 19+		0.74	0.41
North Carolina: Aggressive Track
--Ages 16-18		7.44	4.97
--Ages 19+		3.6	2.47
North Carolina: Moderate Track
--Ages 16-18		3.6	2.47
--Ages 19+		3.6	2.47
North Carolina: Conservative Track
--Ages 16-18		3.6	2.47
--Ages 19+		0	0
North Dakota: Aggressive
--Ages 16-18		6.94	4.46
--Ages 19+		3.06	2.11
North Dakota: Moderate
--Ages 16-18		3.06	2.11
--Ages 19+		3.06	2.11
North Dakota: Conservative
--Ages 16-18		3.06	2.11
--Ages 19+		n/a	n/a
Ohio: The Advantage
--Age 17 and older		3.62	2.23
Ohio Vanguard: Aggressive
--Ages 16-18		7.55	5.15
--Ages 19+		3.68	2.41
Ohio Vanguard: Moderate
--Ages 16-18		3.68	2.41
--Ages 19+		3.68	2.41
Ohio Vanguard: Conservative
--Ages 16-18		3.68	2.41
--Ages 19+		n/a	n/a
Oklahoma: Moderate
--Ages 15-17		6.51	3.96
--Ages 18+		4.73	2.92
Oklahoma: Conservative
--Ages 15-17		4.31	2.63
--Ages 18+		2.21	1.35
Oklahoma: Aggressive
--Ages 15-17		8.52	4.95
--Ages 18+		6.64	3.99
Oregon
--Age 17		3.33	2.08
--Ages 18+		1.66	0.95
Pennsylvania: Aggressive
--Ages 16-18		8.04	5.16
--Ages 19+		6.96	5.06
Pennsylvania: Moderate
--Ages 16-18		6.96	5.06
--Ages 19+		4.02	2.32
Pennsylvania: Conservative
--Ages 16-18		4.02	2.32
--Ages 19+		n/a	n/a
Rhode Island
--Invesco CollegeBound Today Portfolio		n/a	n/a
--Invesco CollegeBound 2017-2018 Portfolio		n/a	n/a
South Carolina: Aggressive
--Ages 16-17		6.85	4.47
--Ages 18+		4.61	3.14
South Carolina: Moderate
--Ages 16-17		4.61	3.14
--Ages 18+		2.56	1.59
South Carolina: Conservative
--Ages 16+		2.56	1.59
South Dakota
--Ages 15-17		5.12	2.51
--Ages 18+		4.82	2.54
Tennessee:
--Ages 15-17		7.08	4.95
--Ages 18+		5.12	3.97
Texas: Blended
--Ages 15-17		7.16	3.45
--Ages 18+		5.29	2.79
Texas: Index
--Ages 15-17		7.32	3.85
--Ages 18+		5.23	2.98
Utah: Age-Based Aggressive Domestic
--Ages 16-18		5.08	3.68
--19+ or College Enrolled		1.35	0.99
Utah: Age-Based Aggressive Global
--Ages 16-18		4.72	3.1
--19+ or College Enrolled		1.34	0.99
Utah: Age-Based Moderate
--Ages 16-18		2.97	2
--19+ or College Enrolled		1.17	0.87
Utah: Age-Based Conservative
--Ages 16-18		1.76	1.28
--19+ or College Enrolled		0.83	0.61
Vermont
--Ages 15-17		5.83	n/a
--Ages 18+		3.91	n/a
Virginia
--Ages 16-18		6.51	4.17
--Ages 18+		1.63	1.47
West Virginia Select (DFA)
--Ages 16-18		5.74	2.87
--Ages 19+		3.51	1.8
West Virginia Direct
--Ages 16-17		5.06	3.29
--Ages 18+		3.92	2.67
Wisconsin EdVest Age-Based
--Age 17		6.11	3.62
--Age 18		4.69	2.91
Wisconsin EdVest Aggressive
--Age 17		8.09	4.75
--Age 18		7.27	4.41