Is this a trick?

I just opened and IRA with Vanguard and picked this 2050 target fund. The expense ratio is 0.19%- good, right? Then I noticed that all of the holdings are in other Vanguard funds. These each have expense ratios if you look at them individually. Does that mean I'm paying something like 0.38% and not 0.19%? That would be total BS, since slowly moving money between your own company's funds is probably should not be very expensive!