Every time I have looked at a target date fund they have presented the prospectus in one of two ways:
- An individual document for each of the target dates (2005,2010,2020...2055,2060) or
- A single prospectus document covering all the target date funds.
In reality if they go the first route you will discover that 90% of the individual documents for those family of target date funds are the same.
In general each of the target date funds is picking from the same basket of funds, the only difference is that they are allocating a different percentage to the funds in the basket.
You will see the same thing done with 529 plans. As the child get closer to college the percentages change to become more conservative.
You can do this. Inside of an IRA this is easy to mimic the percentage of stock, bonds, and even things like international, a real estate. It gets harder if the number of funds is large, or if they decide to not 100% follow the broad glide path they have described.
According to the 2050 prospectus]2050p:
The target allocations assigned to the broad asset classes (Stocks and
Bonds), which reflect these tactical decisions resulting from market
outlook, are not expected to vary from the neutral allocations set
forth in the glide path by more than plus (+) or minus (-) five
percentage (5%) point
The 2050 target date fund is invested in 22 T Rowe price funds. They update the information every quarter.