In general, a target-date fund will have somewhat higher expense ratios compared to a standard mutual fund. This is because the target-date fund, even if it is an index target-date fund, is essentially a fund-of-funds that invests in other mutual funds. Moreover, the fund has to rebalance its portfolio regularly to match the glide path so it is more active than a standard index fund. That said, many target-date index funds available today have low expense ratios of 0.10% or lower.