- ISIN
- US87244W7974
- CUSIP
- 87244W797
- Issuer
- TIAA Investments
- Inception Date
- Oct 1, 2002
- Category
- REIT
- Min. Investment
- $2,000,000
- Distribution Policy
- Distributing
- Asset Class
- Real Estate
Share Price Chart
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Performance
TIREX Performance Chart
TIAA-CREF Real Estate Securities Fund Institutional Class (TIREX) is up 10.3% since the beginning of the year. TIREX is currently trading at $20 per share. Investors who bought $1,000 worth of TIREX shares 5 years ago would now be looking at an investment worth $1,103.
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Returns By Period
TIAA-CREF Real Estate Securities Fund Institutional Class (TIREX) has returned 10.32% so far this year and 11.68% over the past 12 months. Over the last ten years, TIREX has returned 6.47% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
TIAA-CREF Real Estate Securities Fund Institutional Class
- 1D
- -0.05%
- 1M
- -1.81%
- YTD
- 10.32%
- 6M
- 10.45%
- 1Y
- 11.68%
- 3Y*
- 8.86%
- 5Y*
- 1.98%
- 10Y*
- 6.47%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
TIREX Monthly Returns History
Based on dividend-adjusted daily data since Sep 30, 2002, TIREX's average daily return is +0.05%, while the average monthly return is +0.89%. At this rate, an investment would double in approximately 6.5 years.
Historically, 62% of months were positive and 38% were negative. The best month was Apr 2009 with a return of +30.1%, while the worst month was Oct 2008 at -29.5%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 4 months.
On a daily basis, TIREX closed higher 52% of trading days. The best single day was Nov 24, 2008 with a return of +17.9%, while the worst single day was Dec 1, 2008 at -19.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.75% | 7.76% | -6.43% | 8.96% | -0.71% | -0.61% | 10.32% | ||||||
| 2025 | 0.94% | 3.80% | -3.48% | -1.61% | 1.35% | -0.32% | -0.79% | 2.95% | 0.77% | -0.94% | 2.17% | -2.50% | 2.10% |
| 2024 | -4.54% | 2.38% | 0.95% | -8.99% | 5.54% | 2.44% | 7.31% | 5.76% | 2.18% | -2.74% | 4.03% | -7.56% | 5.30% |
| 2023 | 9.83% | -5.51% | -1.59% | 0.79% | -4.05% | 4.93% | 2.12% | -3.14% | -6.50% | -2.90% | 11.07% | 8.52% | 12.16% |
| 2022 | -7.64% | -3.91% | 5.85% | -4.03% | -7.04% | -8.47% | 8.82% | -6.23% | -12.37% | 3.23% | 5.77% | -4.87% | -28.74% |
| 2021 | -0.17% | 3.68% | 4.17% | 7.64% | 1.42% | 2.79% | 3.39% | 1.82% | -5.31% | 7.26% | -0.97% | 8.79% | 39.39% |
Benchmark Metrics
TIAA-CREF Real Estate Securities Fund Institutional Class has an annualized alpha of 0.48%, beta of 1.08, and R2 of 0.55 versus S&P 500 Index. Calculated based on daily prices since September 30, 2002.
- With beta of 1.08 and R2 of 0.55, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 0.48%
- Beta
- 1.08
- R²
- 0.55
- Upside Capture
- 98.50%
- Downside Capture
- 101.81%
Expense Ratio
TIREX has an expense ratio of 0.47%, placing it in the medium range.
Return for Risk
Risk / Return Rank
TIREX ranks 14 for risk / return — in the bottom 14% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for TIAA-CREF Real Estate Securities Fund Institutional Class (TIREX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TIREX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.17 | ||
| Sortino ratioReturn per unit of downside risk | -1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.37 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 2.78 | -1.42 |
| Martin ratioReturn relative to average drawdown | 4.62 | 12.44 | -7.82 |
Dividends
Dividend History
TIAA-CREF Real Estate Securities Fund Institutional Class provided a 2.49% dividend yield over the last twelve months, with an annual payout of $0.49 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.49 | $0.63 | $0.55 | $0.48 | $0.83 | $0.73 | $0.32 | $1.10 | $0.51 | $1.12 | $0.62 | $0.84 |
Dividend yield | 2.49% | 3.56% | 3.08% | 2.71% | 5.13% | 3.07% | 1.80% | 6.18% | 3.54% | 7.20% | 4.16% | 5.65% |
Monthly Dividends
The table displays the monthly dividend distributions for TIAA-CREF Real Estate Securities Fund Institutional Class. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.16 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.18 | $0.63 |
| 2024 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.14 | $0.00 | $0.00 | $0.13 | $0.55 |
| 2023 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.11 | $0.00 | $0.00 | $0.12 | $0.00 | $0.00 | $0.13 | $0.48 |
| 2022 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.57 | $0.83 |
| 2021 | $0.00 | $0.00 | $0.07 | $0.00 | $0.00 | $0.09 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.49 | $0.73 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the TIAA-CREF Real Estate Securities Fund Institutional Class. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the TIAA-CREF Real Estate Securities Fund Institutional Class was 74.18%, occurring on Mar 6, 2009. Recovery took 1028 trading sessions.
The current TIAA-CREF Real Estate Securities Fund Institutional Class drawdown is 5.20%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -74.18%Mar 2009 | 2y 27d | 4y 1mo | 6y 2moFeb 2007 - Apr 2013 |
COVID crash2020 | -39.26%Mar 2020 | 1mo 4d | 11mo 8d | 1y 7dFeb 2020 - Feb 2021 |
2023 bear market2023 | -35.67%Oct 2023 | 1y 9mo | — | 4y 5moJan 2022 - now |
2013 correction2013 | -17.43%Aug 2013 | 2mo 29d | 9mo 14d | 1y 8dMay 2013 - May 2014 |
2004 correction2004 | -16.63%May 2004 | 1mo 8d | 4mo | 5mo 8dApr 2004 - Sep 2004 |
Drawdown Indicators
| TIREX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.18% | -56.78% | -17.40% |
Max Drawdown (1Y)Largest decline over 1 year | -8.55% | -9.10% | +0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -17.95% | -18.90% | +0.95% |
Max Drawdown (5Y)Largest decline over 5 years | -35.67% | -25.43% | -10.24% |
Max Drawdown (10Y)Largest decline over 10 years | -39.26% | -33.92% | -5.34% |
Current DrawdownCurrent decline from peak | -5.20% | -1.80% | -3.40% |
Average DrawdownAverage peak-to-trough decline | -13.46% | -10.71% | -2.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.52% | 2.03% | +0.49% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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