A target-date fund (TDF) is a basket of different stocks, bonds, cash and other assets within one ticker. Target-date funds usually take the guesswork out of investing for retirement (or other goals) and offer instant asset allocation. Typically, a TDF will swing from a portfolio mix containing riskier investments, such as stocks, in the early years, to a mix-weighted portfolio that holds less risky assets, such as bonds and cash, in the later years. The further out the target date, the more aggressive the fund will be. Conversely, the closer the target, the more conservative the asset allocation of the fund.