Understanding TDF Glide Paths Glide paths aren’t just a change in equity and fixed income allocations, there are changes to investment types, too. Reported by Art by Chiara Brazzale A target-date fund (TDF)’s glide path represents its changing mix of investments over time, Capital Group explains on its website. As a participant’s target retirement date nears, the fund “glides down” to a more conservative mix of investments. Understanding how a TDF’s glide path works—how equities and fixed-income-type investments shift as investors age—is necessary for defined contribution (DC) plan sponsors to fulfill their fiduciary duties in fund selection and monitoring plan investments.