HomeDirect Accounts: Year of Enrollment Portfolios

Direct Accounts

Introducing Year of Enrollment Portfolios

We’re transitioning our current Age-Based Enrollment Portfolios to Year of Enrollment Portfolios. Both Age-Based and Year of Enrollment Portfolios move from higher-risk to more conservative options automatically as your student ages/gets closer to enrollment in order to protect your investment. However, with Year of Enrollment Portfolios, these rebalances happen more often making for a smoother and more gradual shift in the portfolio and reducing market timing risk.

For more information, view the Program Description:

Elyse Gardiner, ME

Important Information about a Trading Blackout during the Transition

There will be a program-wide trading blackout period beginning October 19, 2023, and ending October 25, 2023.

What services will be impacted?

Here’s what to expect during the blackout period.

For more information, view the Program Description:

New Accounts

New accounts will be opened, but any contributions will be invested after the blackout period.


Any automated contributions or automated withdrawals scheduled for a date during the blackout period will be suspended and processed after the blackout period ends.


Withdrawal requests submitted during the blackout period will be rejected and will need to be resubmitted after the blackout period ends.

Investment changes (exchanges)

Investment changes (exchanges) between portfolios submitted during the blackout period will be rejected and will need to be resubmitted after the blackout period ends.

The Benefits of a Year of Enrollment Portfolio

Improved Market Risk Management with a Smoother Glide Path

Funds invested in a Year of Enrollment Portfolio will automatically rebalance four times per year. These smaller, more frequent adjustments mean a smoother and more gradual shift in the portfolio and can reduce market timing risk that comes with less frequent but larger changes.

Easy Portfolio Selection

Year of Enrollment Portfolios make it easy for new investors to select an investment option for their students. They simply choose the year they expect their student to enroll in school (K-12, college, university, trade school, or start an apprenticeship program or qualified certificate program).

Save for More than One Goal!

While many families will choose just one Year of Enrollment Portfolio for their student, some may like the fact that they can invest in several different Year of Enrollment Portfolios if they want to save for multiple types of education. For example, a family could easily save for three education goals such as K-12, post-secondary, and graduate by choosing three different Year of Enrollment Portfolios.

Also, families have the flexibility of changing their Year of Enrollment Portfolio if they expect their student to delay their start to higher education.


I am currently invested in an Age-Based Portfolio. Do I need to do anything?

No, your accounts invested in any Age-Based Portfolio will automatically transition to a Year of Enrollment Portfolio. No need to worry about manually making this change – we’ve got you covered!

Current PortfolioNew Portfolio
BlackRock Age-Based 0-1 Year PortfolioBlackRock 2041 Enrollment Portfolio
BlackRock Age-Based 2-4 Years PortfolioBlackRock 2038 Enrollment Portfolio
BlackRock Age-Based 5-7 Years PortfolioBlackRock 2035 Enrollment Portfolio
BlackRock Age-Based 8-11 Years PortfolioBlackRock 2033 Enrollment Portfolio
BlackRock Age-Based 12-13 Years PortfolioBlackRock 2029 Enrollment Portfolio
BlackRock Age-Based 14-15 Years PortfolioBlackRock 2027 Enrollment Portfolio
BlackRock Age-Based 16 Years PortfolioBlackRock 2026 Enrollment Portfolio
BlackRock Age-Based 17 Years PortfolioBlackRock 2025 Enrollment Portfolio
BlackRock Age-Based 18 Years PortfolioBlackRock 2024 Enrollment Portfolio
BlackRock Age-Based 19+ Years PortfolioBlackRock Enrolled Portfolio
iShares Age-Based 0-1 Year PortfolioiShares 2041 Enrollment Portfolio
iShares Age-Based 2-4 Years PortfolioiShares 2038 Enrollment Portfolio
iShares Age-Based 5-7 Years PortfolioiShares 2035 Enrollment Portfolio
iShares Age-Based 8-11 Years PortfolioiShares 2033 Enrollment Portfolio
iShares Age-Based 12-13 Years PortfolioiShares 2029 Enrollment Portfolio
iShares Age-Based 14-15 Years PortfolioiShares 2027 Enrollment Portfolio
iShares Age-Based 16 Years PortfolioiShares 2026 Enrollment Portfolio
iShares Age-Based 17 Years PortfolioiShares 2025 Enrollment Portfolio
iShares Age-Based 18 Years PortfolioiShares 2024 Enrollment Portfolio
iShares Age-Based 19+ Years PortfolioiShares Enrolled Portfolio
Will I be taxed for these changes?

No! These automatic portfolio transitions won’t be considered a taxable event or count as one of your two allowed yearly investment exchanges.

Is this a good time to review my investments and goals?

Absolutely! If you are aware that your student will not attend school during the year their Year of Enrollment Portfolio is assigned, you may want to change to a Year of Enrollment portfolio with a different target enrollment date. You can make that change after the new Year of Enrollment Portfolios are launched. Just keep in mind, if you do make an investment change, it will count as one of the two you are allowed each year.