IJPIX vs. TEQLX

Last updated Jun 4, 2026

IJPIX (VY JPMorgan Emerging Markets Equity Portfolio) and TEQLX (TIAA-CREF Emerging Markets Equity Index Fund) are both Emerging Markets Diversified funds. Over the past 10 years, IJPIX returned 11.35%/yr vs 10.64%/yr for TEQLX. Their correlation of 0.94 suggests significant overlap in exposure. IJPIX charges 1.51%/yr vs 0.19%/yr for TEQLX.

Performance

IJPIX vs. TEQLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VY JPMorgan Emerging Markets Equity Portfolio (IJPIX) and TIAA-CREF Emerging Markets Equity Index Fund (TEQLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IJPIX achieves a 32.86% return, which is significantly higher than TEQLX's 30.13% return. Over the past 10 years, IJPIX has outperformed TEQLX with an annualized return of 11.35%, while TEQLX has yielded a comparatively lower 10.64% annualized return.

IJPIX

• 1D: 0.79%
• 1M: 9.68%
• YTD: 32.86%
• 6M: 35.48%
• 1Y: 65.28%
• 3Y*: 24.53%
• 5Y*: 5.52%
• 10Y*: 11.35%

TEQLX

• 1D: 1.22%
• 1M: 10.66%
• YTD: 30.13%
• 6M: 33.10%
• 1Y: 59.14%
• 3Y*: 24.95%
• 5Y*: 7.91%
• 10Y*: 10.64%

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

IJPIX vs. TEQLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IJPIX VY JPMorgan Emerging Markets Equity Portfolio	32.86%	38.95%	1.91%	6.58%	-26.16%	-10.00%	33.28%	31.72%	-16.76%	43.11%
TEQLX TIAA-CREF Emerging Markets Equity Index Fund	30.13%	34.10%	6.71%	9.23%	-20.22%	-3.07%	17.67%	18.59%	-14.60%	37.47%

Correlation

The correlation between IJPIX and TEQLX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Sep 1, 2010	0.94

The correlation between IJPIX and TEQLX shifts across timeframes, from 0.82 (1 year) to 0.94 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IJPIX vs. TEQLX — Risk / Return Rank

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

IJPIX

IJPIX Risk / Return Rank: 95
IJPIX Sharpe Ratio Rank: 98
IJPIX Sortino Ratio Rank: 93
IJPIX Omega Ratio Rank: 91
IJPIX Calmar Ratio Rank: 95
IJPIX Martin Ratio Rank: 96

TEQLX

TEQLX Risk / Return Rank: 90
TEQLX Sharpe Ratio Rank: 95
TEQLX Sortino Ratio Rank: 87
TEQLX Omega Ratio Rank: 88
TEQLX Calmar Ratio Rank: 89
TEQLX Martin Ratio Rank: 89

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.

IJPIX vs. TEQLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VY JPMorgan Emerging Markets Equity Portfolio (IJPIX) and TIAA-CREF Emerging Markets Equity Index Fund (TEQLX). 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.

	IJPIX	TEQLX	Difference
Sharpe ratio: Return per unit of total volatility	3.84	3.33	+0.51
Sortino ratio: Return per unit of downside risk	4.72	4.18	+0.54
Omega ratio: Gain probability vs. loss probability	1.67	1.62	+0.05
Calmar ratio: Return relative to maximum drawdown	5.99	4.50	+1.50
Martin ratio: Return relative to average drawdown	24.59	17.79	+6.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IJPIX vs. TEQLX - Sharpe Ratio Comparison

The current IJPIX Sharpe Ratio is 3.84, which is comparable to the TEQLX Sharpe Ratio of 3.33. The chart below compares the historical Sharpe Ratios of IJPIX and TEQLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IJPIX	TEQLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.84	3.33	+0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	0.47	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.60	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.35	-0.02

Drawdowns

IJPIX vs. TEQLX - Drawdown Comparison

The maximum IJPIX drawdown since its inception was -64.21%, which is greater than TEQLX's maximum drawdown of -39.33%. Use the drawdown chart below to compare losses from any high point for IJPIX and TEQLX.

Drawdown Indicators

	IJPIX	TEQLX	Difference
Max Drawdown Largest peak-to-trough decline	-64.21%	-39.33%	-24.88%
Max Drawdown (1Y) Largest decline over 1 year	-12.53%	-13.32%	+0.79%
Max Drawdown (3Y) Largest decline over 3 years	-15.42%	-15.97%	+0.55%
Max Drawdown (5Y) Largest decline over 5 years	-45.22%	-37.05%	-8.17%
Max Drawdown (10Y) Largest decline over 10 years	-49.88%	-39.33%	-10.55%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-20.12%	-14.61%	-5.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.91%	3.35%	-0.44%

Volatility

IJPIX vs. TEQLX - Volatility Comparison

VY JPMorgan Emerging Markets Equity Portfolio (IJPIX) and TIAA-CREF Emerging Markets Equity Index Fund (TEQLX) have volatilities of 7.77% and 7.75%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IJPIX	TEQLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.77%	7.75%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	16.16%	15.43%	+0.73%
Volatility (1Y) Calculated over the trailing 1-year period	19.55%	17.98%	+1.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.36%	16.99%	+2.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.52%	17.68%	+1.84%

IJPIX vs. TEQLX - Expense Ratio Comparison

IJPIX has a 1.51% expense ratio, which is higher than TEQLX's 0.19% expense ratio.

Dividends

IJPIX vs. TEQLX - Dividend Comparison

IJPIX's dividend yield for the trailing twelve months is around 19.48%, more than TEQLX's 2.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IJPIX VY JPMorgan Emerging Markets Equity Portfolio	19.48%	25.88%	0.82%	1.67%	42.85%	8.66%	5.75%	5.37%	0.66%	0.40%	1.15%	9.47%
TEQLX TIAA-CREF Emerging Markets Equity Index Fund	2.17%	2.83%	2.93%	3.08%	2.51%	2.27%	2.04%	2.77%	2.43%	1.98%	1.88%	2.40%

Frequently Asked Questions

Can I hold both IJPIX and TEQLX in my portfolio?

IJPIX and TEQLX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IJPIX or TEQLX?

IJPIX has higher volatility (7.77%) compared to TEQLX (7.75%). In terms of maximum drawdown, IJPIX dropped -64.21% vs TEQLX's -39.33%.

Which has better risk-adjusted returns?

IJPIX currently has the higher Sharpe Ratio (3.84 vs 3.33), 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.