- ISIN
- US87245P5851
- Issuer
- TIAA Investments
- Inception Date
- Aug 5, 2016
- Category
- Small Cap Blend Equities
- Min. Investment
- $2,000,000
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
TSMWX Performance Chart
TIAA-CREF Quant Small/Mid-Cap Equity Fund (TSMWX) is up 26.3% since the beginning of the year. TSMWX is currently trading at $20 per share. Investors who bought $1,000 worth of TSMWX shares 5 years ago would now be looking at an investment worth $1,869.
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Returns By Period
TIAA-CREF Quant Small/Mid-Cap Equity Fund (TSMWX) has returned 26.32% so far this year and 45.54% over the past 12 months.
TIAA-CREF Quant Small/Mid-Cap Equity Fund
- 1D
- 1.07%
- 1M
- 6.44%
- YTD
- 26.32%
- 6M
- 24.03%
- 1Y
- 45.54%
- 3Y*
- 25.87%
- 5Y*
- 13.33%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -1.44%
- 1M
- -1.45%
- YTD
- 7.60%
- 6M
- 6.59%
- 1Y
- 22.24%
- 3Y*
- 19.20%
- 5Y*
- 11.54%
- 10Y*
- 13.71%
TSMWX Monthly Returns History
Based on dividend-adjusted daily data since Jan 3, 2017, TSMWX's average daily return is +0.07%, while the average monthly return is +1.34%. At this rate, an investment would double in approximately 4.3 years.
Historically, 65% of months were positive and 35% were negative. The best month was Nov 2020 with a return of +16.5%, while the worst month was Mar 2020 at -22.7%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.
On a daily basis, TSMWX closed higher 53% of trading days. The best single day was Mar 24, 2020 with a return of +10.5%, while the worst single day was Mar 16, 2020 at -15.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.53% | 2.26% | -4.35% | 12.28% | 4.66% | 5.15% | 26.32% | ||||||
| 2025 | 4.56% | -4.30% | -6.53% | -1.53% | 6.43% | 5.69% | 1.77% | 6.00% | 1.89% | 1.20% | 0.71% | 0.01% | 16.07% |
| 2024 | -1.80% | 5.64% | 4.51% | -4.98% | 5.03% | -1.60% | 6.76% | 0.38% | 1.70% | -0.56% | 10.72% | -7.39% | 18.33% |
| 2023 | 8.81% | -1.01% | -3.54% | -2.12% | -1.42% | 9.21% | 5.11% | -2.80% | -4.77% | -5.41% | 9.00% | 10.14% | 20.97% |
| 2022 | -7.17% | 1.06% | 0.70% | -7.10% | -0.15% | -9.38% | 9.77% | -2.87% | -8.39% | 10.00% | 3.78% | -5.67% | -16.46% |
| 2021 | 4.79% | 7.58% | 2.73% | 5.06% | 1.23% | 1.16% | -0.98% | 2.90% | -2.25% | 5.24% | -3.40% | 4.66% | 32.06% |
Benchmark Metrics
TIAA-CREF Quant Small/Mid-Cap Equity Fund has an annualized alpha of 0.94%, beta of 1.08, and R2 of 0.80 versus S&P 500 Index. Calculated based on daily prices since January 03, 2017.
- This fund captured 106.65% of S&P 500 Index gains and 101.10% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- With beta of 1.08 and R2 of 0.80, 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
- 0.94%
- Beta
- 1.08
- R²
- 0.80
- Upside Capture
- 106.65%
- Downside Capture
- 101.10%
Expense Ratio
TSMWX has an expense ratio of 0.47%, placing it in the medium range.
Return for Risk
Risk / Return Rank
TSMWX ranks 85 for risk / return — in the top 85% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for TIAA-CREF Quant Small/Mid-Cap Equity Fund (TSMWX) 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.
| TSMWX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.78 | ||
| Sortino ratioReturn per unit of downside risk | +0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.32 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 5.38 | 2.46 | +2.92 |
| Martin ratioReturn relative to average drawdown | 20.25 | 10.92 | +9.33 |
Dividends
Dividend History
TIAA-CREF Quant Small/Mid-Cap Equity Fund provided a 7.06% dividend yield over the last twelve months, with an annual payout of $1.40 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.40 | $1.40 | $1.89 | $0.35 | $0.93 | $3.17 | $0.25 | $0.72 | $1.33 | $0.55 |
Dividend yield | 7.06% | 8.92% | 12.84% | 2.50% | 7.84% | 20.81% | 1.81% | 5.84% | 13.26% | 4.51% |
Monthly Dividends
The table displays the monthly dividend distributions for TIAA-CREF Quant Small/Mid-Cap Equity Fund. 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 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.40 | $1.40 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.89 | $1.89 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.35 | $0.35 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.93 | $0.93 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3.17 | $3.17 |
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 Quant Small/Mid-Cap Equity Fund. 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 Quant Small/Mid-Cap Equity Fund was 44.34%, occurring on Mar 18, 2020. Recovery took 169 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -44.34%Mar 2020 | 3mo 10d | 8mo 3d | 11mo 13dDec 2019 - Nov 2020 |
Bear market2022 | -25.87%Sep 2022 | 10mo 20d | 1y 4mo | 2y 3moNov 2021 - Feb 2024 |
Rate-hike selloffLate 2018 | -24.80%Dec 2018 | 3mo 26d | 10mo 15d | 1y 2moAug 2018 - Nov 2019 |
2025 selloff2025 | -24.27%Apr 2025 | 4mo 4d | 4mo 7d | 8mo 11dDec 2024 - Aug 2025 |
2018 pullback2018 | -9.70%Feb 2018 | 10d | 3mo 1d | 3mo 11dJan 2018 - May 2018 |
Drawdown Indicators
| TSMWX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.34% | -56.78% | +12.44% |
Max Drawdown (1Y)Largest decline over 1 year | -8.78% | -9.10% | +0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -24.27% | -18.90% | -5.37% |
Max Drawdown (5Y)Largest decline over 5 years | -25.87% | -25.43% | -0.44% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -3.21% | +3.21% |
Average DrawdownAverage peak-to-trough decline | -6.72% | -10.71% | +3.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 2.04% | +0.28% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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