Target-date funds get plenty of praise in Morningstar’s latest report, although it also found that growth in TDFs in 2014 fell into the single-digits for the first time in a decade, despite netting nearly $50 billion for the year.

Starting with the positive, the report said annualized asset-weighted average investor returns — which take into account when funds flow into any given series — came in at 6.1 percent over the past 10 years. That’s 1.1 percent higher than the typical funds’ average total returns – an indication, it said, that investors are using TDFs effectively.

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