If you’re in your 50s, now is a good time to review your investments to be sure you have the best retirement funds for your goals. This assumes you plan to retire in a decade or so, or you’re hoping to be financially independent within that 10-year time frame.

While there’s no one-size-fits-all retirement plan, the 10-year mark is a point where it’s wise to make an assessment of the market risk in your investment portfolio and to consider a few adjustments.

When you’re planning (or hoping) to retire within 10 years, it’s wise to keep risk at a moderate level, even if you have a high tolerance for risk. This is because you’re getting within a timeframe where the odds of a severe bear market may occur and you don’t want to put your hard-earned retirement savings at risk.

With that backdrop in mind, and in no particular order, we put together a list of diversified retirement funds that can be used either as a one-fund solution or as core holding to build around:

• Fidelity Balanced Fund (MUTF:FBALX)
• Vanguard Balanced Index Fund Admiral Shares (MUTF:VBIAX)
• T. Rowe Price Spectrum Conservative Allocation Fund (MUTF:PRSIX)
• Vanguard Wellesley Income Investor Shares (MUTF:VWINX)
• Bruce Fund (MUTF:BRUFX)
• Vanguard Target Retirement 2030 Fund Investor Shares (MUTF:VTHRX)
• T. Rowe Price Retirement 2030 Fund (MUTF:TRRCX)

Retirement Funds: Fidelity Balanced Fund (FBALX)

• Expenses: 0.52%
• Category: Allocation — 50-7o% Allocation
• 10-year return: 10.82%

If you’re looking for a cheap, well-managed moderate allocation mutual fund, Fidelity Balanced Fund is among the best on the market.

FBALX may not be the ideal fund for every investor in their 50s but it can work well for those who have a moderately high tolerance for risk.

The FBALX portfolio asset allocation is roughly 70% stocks, 25% bonds and 5% cash. With this allocation, shareholders can expect some price volatility but not quite the same degree of market risk as a portfolio consisting of 100% stocks.

The equity portion of the portfolio is predominately large-cap stocks, most of which are technology stocks like Apple (NASDAQ:AAPL) Microsoft (NASDAQ:MSFT), and Alphabet (NASDAQ:GOOGL). The fixed income portion is mostly investment grade bonds, mortgage securities, and US Treasury bonds.

Vanguard Balanced Index Fund Admiral Shares (VBIAX)

• Expenses: 0.07%
• Category: Allocation — 50-7o% Allocation
• 10-year return: 9.98%

One of the best retirement funds for index investing fans in their 50s is Vanguard Balanced Index.

With index funds, you get minimal expenses and a passively managed approach that can net you higher returns in the long run, compared to most actively managed funds. The performance history of VBIAX supports this timeless investing philosophy.

The 9.98% 10-year annualized return for VBIAX beats 91% of all moderate allocation funds. Although the next decade may not bring such high returns, shareholders can rest assured VBIAX will continue to track the performance of its underlying indexes.

About 60% of the VBIAX portfolio tracks the CRSP US Total Market Index for the stock allocation and 40% of the fund tracks the Bloomberg Barclays U.S. Aggregate Float Adjusted Index for the fixed income piece of the pie.

T. Rowe Price Spectrum Conservative Allocation (PRSIX)

• Expenses: 0.61%
• Category: Allocation — 30-50% Equity
• 10-year return: 7.10%

For those 50+ investors looking for conservative allocation retirement funds, T. Rowe Price Spectrum Conservative Allocation is one of the best actively managed funds to buy.

Not every investor wants (or needs) to take average to above-average market risk with their retirement funds, especially with stocks now trading near all-time highs. For these investors saving for retirement, a conservative allocation might make sense.

The PRSIX asset allocation is roughly 40% stocks, 40% bonds and 20% cash. The largest stock sector allocation is to technology stocks like Amazon (NASDAQ:AMZN), GOOGL, and MSFT. The heaviest weight in the bond allocation goes to high-credit quality bonds, such as Treasuries.

Vanguard Wellesley Income (VWINX)

• Expenses: 0.23%
• Category: Allocation — 30-50% Equity
• 10-year return: 7.76%

One of the best conservative allocation funds to buy for retirement is Vanguard Wellesley Income.

For investors in their 50s, it’s time to tamp down on risk and preserve your retirement assets. But you also want to give those hard-earned assets a chance to grow and outpace inflation. You may even want a fund you can hold all the way into your retirement years and hold forever. VWINX is just that kind of fund.

With an asset allocation of 40% stocks and 60% bonds, it’s hard to imagine how a conservative fund can achieve a 10-year annualized return of 7.76%.

Yes, the past decade has been kind to stock investors but if you want evidence of this fund’s long-term potential, look no further than the 9.69% annualized return since the inception date of July 1, 1970. Not a bad 50-year return at all for a conservative fund.

Bruce Fund (BRUFX)

• Expenses: 0.67%
• Category: Allocation — 50-70% Equity
• 10-year return: 9.51%

There’s much more to a fund than a name and Bruce Fund is an outstanding case in point.

With a name like Bruce, who needs a ticker symbol? OK. All investment nerd jokes aside, BRUFX is a serious fund that can fit right into a retirement portfolio for the 50+ crowd saving for retirement. Bruce works well as a core holding or as a moderately allocated one-fund solution.

For a bit of background, Bruce gets its simple name from the fund management team, Robert B. Bruce and R. Jeffrey Bruce, with the longest tenure at 37.5 years. The annualized return since the inception nearly four decades ago is an impressive 9.70%.

The fund is small compared to big players like Vanguard and Fidelity, with about $570 million in assets under management. But smaller can sometimes be better, especially when the managers have more ability to nimbly move in and out of positions.

As for the portfolio, BRUFX has an asset allocation of about 75% stocks, 15% bonds and 10% cash. This allocation can work well for investors wanting to be a bit heavier on the stock side for someone getting close to retirement.

Vanguard Target Retirement 2030 (VTHRX)

• Expenses: 0.14%
• Category: Target-Date 2030
• 10-year return: 9.04%

Target-date retirement funds can make the ultimate set-it-and-forget it retirement funds. For those investors that are in their 50s now, Vanguard Target Retirement 2030 could be the right fit for this type of fund.

The beauty of target-date funds is that the fund management will gradually shift the portfolio assets from stocks to bonds, as the target date approaches. For retirement savers in their 50s, the year 2030 could be a good retirement target to make.

The VTHRX portfolio consists of four Vanguard index funds, which combine to make an asset allocation of about two-thirds stocks and one-third bonds. This is a solid moderate allocation. By the time the target date of 2030 gets here, the allocation will have shifted to an allocation that would be more conservative.

T. Rowe Price Retirement 2030 (TRRCX)

• Expenses: 0.64%
• Category: Target-Date 2030
• 10-year return: 9.76%

For retirement savers in their 50s who want to take above-average risk in their target-date fund, T. Rowe Price Retirement 2030 is an appropriate choice.

While a typical target-date 2030 fund might have an allocation of about two-thirds stocks and one-third bonds, TRRCX is a notch higher in market risk with an allocation of about 75% stocks, 20% bonds and 5% cash.

Since 2030 is still almost a decade away, the extra market risk can make sense for investors who don’t mind more price volatility in exchange for the potential of receiving higher returns.

On the date of publication, Kent Thune did not personally hold a position in any of the aforementioned securities. However, he holds FBALX, VBIAX, and VWINX in some client accounts. Under no circumstances does this information represent a recommendation to buy or sell securities.