NCA vs. TIEIX
NCA (Nuveen California Municipal Value Fund) and TIEIX (Nuveen Equity Index Fund Class I) are both mutual funds - NCA 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, NCA returned 1.92%/yr vs 14.92%/yr for TIEIX. At a 0.10 correlation, their price movements are largely independent. NCA charges 0.03%/yr vs 0.09%/yr for TIEIX.
Performance
NCA vs. TIEIX - Performance Comparison
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Returns By Period
In the year-to-date period, NCA achieves a 5.79% return, which is significantly lower than TIEIX's 8.59% return. Over the past 10 years, NCA has underperformed TIEIX with an annualized return of 1.92%, while TIEIX has yielded a comparatively higher 14.92% annualized return.
NCA
- 1D
- -0.11%
- 1M
- 0.33%
- YTD
- 5.79%
- 6M
- 7.23%
- 1Y
- 13.75%
- 3Y*
- 6.67%
- 5Y*
- 1.00%
- 10Y*
- 1.92%
TIEIX
- 1D
- -0.02%
- 1M
- -1.55%
- YTD
- 8.59%
- 6M
- 7.15%
- 1Y
- 22.50%
- 3Y*
- 20.48%
- 5Y*
- 11.84%
- 10Y*
- 14.92%
NCA vs. TIEIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NCA Nuveen California Municipal Value Fund | 5.79% | 10.27% | -1.92% | 10.39% | -13.57% | -3.51% | 4.62% | 21.08% | -7.38% | 2.94% |
TIEIX Nuveen Equity Index Fund Class I | 8.59% | 17.04% | 23.71% | 25.92% | -19.18% | 25.64% | 20.82% | 30.89% | -5.27% | 19.05% |
Correlation
The correlation between NCA and TIEIX is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.22 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 1999 | 0.10 |
The correlation between NCA and TIEIX shifts across timeframes, from 0.10 (all time) to 0.23 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
NCA vs. TIEIX — Risk / Return Rank
NCA
TIEIX
NCA vs. TIEIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nuveen California Municipal Value Fund (NCA) 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.
| NCA | TIEIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.69 | ||
| Sortino ratioReturn per unit of downside risk | -0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.32 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.83 | 2.55 | -0.72 |
| Martin ratioReturn relative to average drawdown | 5.22 | 11.29 | -6.06 |
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Drawdowns
NCA vs. TIEIX - Drawdown Comparison
The maximum NCA drawdown since its inception was -37.14%, smaller than the maximum TIEIX drawdown of -55.55%. Use the drawdown chart below to compare losses from any high point for NCA and TIEIX.
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Drawdown Indicators
| NCA | TIEIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.14% | -55.55% | +18.41% |
Max Drawdown (1Y)Largest decline over 1 year | -7.55% | -8.84% | +1.29% |
Max Drawdown (3Y)Largest decline over 3 years | -10.63% | -19.29% | +8.66% |
Max Drawdown (5Y)Largest decline over 5 years | -22.97% | -25.06% | +2.09% |
Max Drawdown (10Y)Largest decline over 10 years | -22.97% | -34.90% | +11.93% |
Current DrawdownCurrent decline from peak | -3.81% | -2.79% | -1.02% |
Average DrawdownAverage peak-to-trough decline | -8.09% | -10.28% | +2.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.64% | 1.99% | +0.65% |
Volatility
NCA vs. TIEIX - Volatility Comparison
The current volatility for Nuveen California Municipal Value Fund (NCA) is 1.99%, while Nuveen Equity Index Fund Class I (TIEIX) has a volatility of 4.90%. This indicates that NCA 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.
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Volatility by Period
| NCA | TIEIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.99% | 4.90% | -2.91% |
Volatility (6M)Calculated over the trailing 6-month period | 11.02% | 10.08% | +0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.83% | 12.84% | -0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.30% | 17.41% | -5.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.49% | 18.41% | -5.92% |
NCA vs. TIEIX - Expense Ratio Comparison
NCA has a 0.03% expense ratio, which is lower than TIEIX's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
NCA vs. TIEIX - Dividend Comparison
NCA's dividend yield for the trailing twelve months is around 3.79%, more than TIEIX's 2.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
NCA Nuveen California Municipal Value Fund | 3.79% | 3.89% | 4.12% | 3.88% | 3.66% | 3.02% | 2.98% | 3.21% | 3.79% | 5.33% | 4.36% | 4.34% |
TIEIX Nuveen Equity Index Fund Class I | 2.20% | 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
NCA and TIEIX have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TIEIX has higher volatility (4.90%) compared to NCA (1.99%). In terms of maximum drawdown, NCA dropped -37.14% vs TIEIX's -55.55%.
TIEIX currently has the higher Sharpe Ratio (1.76 vs 1.08), 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.
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