I have two different 401(k) accounts and each hold a Vanguard "Targeted Retirement 2040" instrument. I had assumed they were the same, but I just realized that the two accounts actually hold different instruments.
One is the Vanguard Target Retirement 2040 Fund (VFORX).
The other is the Vanguard Target Retirement 2040 Trust Select (1680).
It appears that the 1680's returns are very slightly higher than the VFORX's returns.
I am unfamiliar with the terminology of "Trust Select" vs simply "Fund". Is it simply a different mix of assets, or does it reflect some kind of organizational difference?
Can someone explain the differences between these two?