51 ms·Taxes. Vanguard's LifeStrategy and Target Retirement funds were not meant to be tax efficient.by nerfhammer 11y agoTaxes. Vanguard's LifeStrategy and Target Retirement funds were not meant to be tax efficient.peteretep 11y agoIsn't that a function of the wrapper, rather than the fund? Both investments I have in Vanguard are entirely tax free...pbreit 11y agoStill probably the best investment option for 99% of the population.