"Target risk funds and target date funds are two types of mutual funds that make the asset allocation decision for an investor. Target risk funds have not been studied before: this article is the first comprehensive study of their characteristics and performance and how they compare to target date funds as an investment vehicle." [From the article: "These funds differ from target date funds in that they attempt to hold risks (on a relative or an absolute basis) constant over time while a target date fund attempts to lower risk as an investor's time horizon approaches."]