FORCX vs. TIEIX

Last updated Jun 23, 2026

FORCX (Nuveen Oregon Intermediate Municipal Bond Fund) and TIEIX (Nuveen Equity Index Fund Class I) are both mutual funds - FORCX is a Municipal Bonds fund managed by Nuveen, while TIEIX is a Large Cap Blend Equities fund tracking the Russell 3000 Index. Over the past 10 years, FORCX returned 1.75%/yr vs 14.85%/yr for TIEIX. At a correlation of -0.09, they often move in opposite directions. FORCX charges 0.61%/yr vs 0.09%/yr for TIEIX.

Performance

FORCX vs. TIEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Oregon Intermediate Municipal Bond Fund (FORCX) and Nuveen Equity Index Fund Class I (TIEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FORCX achieves a 0.92% return, which is significantly lower than TIEIX's 10.43% return. Over the past 10 years, FORCX has underperformed TIEIX with an annualized return of 1.75%, while TIEIX has yielded a comparatively higher 14.85% annualized return.

FORCX

• 1D: 0.10%
• 1M: 1.27%
• YTD: 0.92%
• 6M: 1.28%
• 1Y: 5.72%
• 3Y*: 3.48%
• 5Y*: 0.90%
• 10Y*: 1.75%

TIEIX

• 1D: 1.13%
• 1M: 0.82%
• YTD: 10.43%
• 6M: 9.68%
• 1Y: 27.05%
• 3Y*: 20.52%
• 5Y*: 12.88%
• 10Y*: 14.85%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FORCX vs. TIEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FORCX Nuveen Oregon Intermediate Municipal Bond Fund	0.92%	4.89%	1.29%	4.85%	-7.17%	0.52%	4.77%	6.55%	0.88%	4.10%
TIEIX Nuveen Equity Index Fund Class I	10.43%	17.04%	23.71%	25.92%	-19.18%	25.64%	20.82%	30.89%	-5.27%	19.05%

Correlation

The correlation between FORCX and TIEIX is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (10Y) Calculated over the trailing 10-year period	0.01
Correlation (All Time) Calculated using the full available price history since Jun 14, 1999	-0.09

The correlation between FORCX and TIEIX shifts across timeframes, from -0.09 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FORCX vs. TIEIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FORCX

FORCX Risk / Return Rank: 72
FORCX Sharpe Ratio Rank: 93
FORCX Sortino Ratio Rank: 94
FORCX Omega Ratio Rank: 96
FORCX Calmar Ratio Rank: 44
FORCX Martin Ratio Rank: 32

TIEIX

TIEIX Risk / Return Rank: 64
TIEIX Sharpe Ratio Rank: 61
TIEIX Sortino Ratio Rank: 56
TIEIX Omega Ratio Rank: 56
TIEIX Calmar Ratio Rank: 69
TIEIX Martin Ratio Rank: 79

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FORCX vs. TIEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Oregon Intermediate Municipal Bond Fund (FORCX) and Nuveen Equity Index Fund Class I (TIEIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	FORCX	TIEIX	Difference
Sharpe ratio: Return per unit of total volatility	2.88	2.11	+0.77
Sortino ratio: Return per unit of downside risk	4.59	2.87	+1.72
Omega ratio: Gain probability vs. loss probability	1.82	1.38	+0.44
Calmar ratio: Return relative to maximum drawdown	2.41	3.06	-0.65
Martin ratio: Return relative to average drawdown	6.92	13.64	-6.73

FORCX vs. TIEIX - Sharpe Ratio Comparison

The current FORCX Sharpe Ratio is 2.88, which is higher than the TIEIX Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of FORCX and TIEIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FORCX vs. TIEIX - Drawdown Comparison

The maximum FORCX drawdown since its inception was -11.47%, smaller than the maximum TIEIX drawdown of -55.55%. Use the drawdown chart below to compare losses from any high point for FORCX and TIEIX.

Drawdown Indicators

	FORCX	TIEIX	Difference
Max Drawdown Largest peak-to-trough decline	-11.47%	-55.55%	+44.08%
Max Drawdown (1Y) Largest decline over 1 year	-2.40%	-8.84%	+6.44%
Max Drawdown (3Y) Largest decline over 3 years	-4.29%	-19.29%	+15.00%
Max Drawdown (5Y) Largest decline over 5 years	-11.47%	-25.06%	+13.59%
Max Drawdown (10Y) Largest decline over 10 years	-11.47%	-34.90%	+23.43%
Current Drawdown Current decline from peak	-0.80%	-1.15%	+0.35%
Average Drawdown Average peak-to-trough decline	-1.49%	-10.28%	+8.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	1.97%	-1.14%

Volatility

FORCX vs. TIEIX - Volatility Comparison

The current volatility for Nuveen Oregon Intermediate Municipal Bond Fund (FORCX) is 0.62%, while Nuveen Equity Index Fund Class I (TIEIX) has a volatility of 4.84%. This indicates that FORCX experiences smaller price fluctuations and is considered to be less risky than TIEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FORCX	TIEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.62%	4.84%	-4.22%
Volatility (6M) Calculated over the trailing 6-month period	1.57%	10.07%	-8.50%
Volatility (1Y) Calculated over the trailing 1-year period	2.00%	12.78%	-10.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.96%	17.41%	-14.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.36%	18.44%	-15.08%

FORCX vs. TIEIX - Expense Ratio Comparison

FORCX has a 0.61% expense ratio, which is higher than TIEIX's 0.09% expense ratio.

Dividends

FORCX vs. TIEIX - Dividend Comparison

FORCX's dividend yield for the trailing twelve months is around 2.77%, more than TIEIX's 2.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FORCX Nuveen Oregon Intermediate Municipal Bond Fund	2.77%	2.99%	2.92%	2.53%	2.13%	1.83%	2.09%	2.35%	2.33%	2.44%	2.62%	2.84%
TIEIX Nuveen Equity Index Fund Class I	2.17%	2.39%	1.63%	1.47%	1.83%	2.08%	1.43%	1.99%	2.45%	0.52%	2.45%	1.27%

Frequently Asked Questions

Can I hold both FORCX and TIEIX in my portfolio?

FORCX and TIEIX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FORCX or TIEIX?

TIEIX has higher volatility (4.84%) compared to FORCX (0.62%). In terms of maximum drawdown, FORCX dropped -11.47% vs TIEIX's -55.55%.

Which has better risk-adjusted returns?

FORCX currently has the higher Sharpe Ratio (2.88 vs 2.11), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.