Target risk IMO make more sense yet they are hard to come across. Am I alone in this thought?
Hard to come across? There about 7-10 fund families that have good ones. I can get you a list of the more popular ones if you want. As to which makes more sense, it just depends on what you’re looking for. For a 401k plan the target date funds are really popular because people don’t have to worry about changing their allocation/risk level as they get older. Target risk portfolios are used more my financial advisors as a single ticket solution for smaller clients.
Would actually appreicate the list. Would save me a few minutes 
I’m not exactly sure which ones you can buy directly since I deal with advisors, but here are a few to check out. I’ll list the ticker for the aggressive fund, but all of the fund families offer at least a moderate and conservative option as well. Obviously all of them have a different take on how to manage to a certain level of risk, and some are fund of funds and others are actively managed portoflios of individual securities. If you do go through an advisor, watch out for fees. Some of these get pricey. American Century Strategic Allocation Aggressive (TWSAX) Alliance Bernstein Wealth Appreciation (AWAAX) Goldman Sachs Growth Strategy (GGSAX) Transamerica Asset Allocation Moderate Growth (IMLAX) Franklin Temleton Growth Target (FGTIX) John Hancock 2 Lifestyle Growth (JALGX) Russell Lifepoints Growth Strategy (RALSX) Wells Fargo Wealth Builder Growth Allocation (WBGGX) That should get you started. Let me know if you have any questions. I’m pretty familiar with all of these.