QCGLIX vs. FGIAX

Last updated Apr 1, 2026

Compare and contrast key facts about CREF Global Equities Account - R3 (QCGLIX) and Nuveen Global Infrastructure Fund Class A (FGIAX).

QCGLIX is a passively managed fund by TIAA that tracks the performance of the MSCI ACWI NR USD. It was launched on Apr 24, 2015. FGIAX is a passively managed fund by Nuveen that tracks the performance of the S&P Global Infrastructure Index NR. It was launched on Dec 17, 2007. Both QCGLIX and FGIAX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

QCGLIX vs. FGIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CREF Global Equities Account - R3 (QCGLIX) and Nuveen Global Infrastructure Fund Class A (FGIAX). The values are adjusted to include any dividend payments, if applicable.

QCGLIX vs. FGIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QCGLIX CREF Global Equities Account - R3	-5.39%	20.08%	0.00%
FGIAX Nuveen Global Infrastructure Fund Class A	9.53%	17.73%	-0.22%

Returns By Period

In the year-to-date period, QCGLIX achieves a -5.39% return, which is significantly lower than FGIAX's 9.53% return.

QCGLIX

• 1D: -0.37%
• 1M: -9.45%
• YTD: -5.39%
• 6M: -1.83%
• 1Y: 18.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FGIAX

• 1D: 0.53%
• 1M: -3.78%
• YTD: 9.53%
• 6M: 10.02%
• 1Y: 20.91%
• 3Y*: 14.03%
• 5Y*: 10.45%
• 10Y*: 8.70%

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

QCGLIX vs. FGIAX - Expense Ratio Comparison

QCGLIX has a 0.24% expense ratio, which is lower than FGIAX's 1.21% expense ratio.

FGIAX

Nuveen Global Infrastructure Fund Class A

QCGLIX

CREF Global Equities Account - R3

Return for Risk

QCGLIX vs. FGIAX — Risk / Return Rank

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

QCGLIX

QCGLIX Risk / Return Rank: 59
QCGLIX Sharpe Ratio Rank: 65
QCGLIX Sortino Ratio Rank: 63
QCGLIX Omega Ratio Rank: 59
QCGLIX Calmar Ratio Rank: 50
QCGLIX Martin Ratio Rank: 58

FGIAX

FGIAX Risk / Return Rank: 88
FGIAX Sharpe Ratio Rank: 87
FGIAX Sortino Ratio Rank: 85
FGIAX Omega Ratio Rank: 85
FGIAX Calmar Ratio Rank: 91
FGIAX Martin Ratio Rank: 94

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.

QCGLIX vs. FGIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CREF Global Equities Account - R3 (QCGLIX) and Nuveen Global Infrastructure Fund Class A (FGIAX). 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.

	QCGLIX	FGIAX	Difference
Sharpe ratio Return per unit of total volatility	1.18	1.75	-0.57
Sortino ratio Return per unit of downside risk	1.64	2.26	-0.62
Omega ratio Gain probability vs. loss probability	1.24	1.35	-0.12
Calmar ratio Return relative to maximum drawdown	1.25	2.61	-1.36
Martin ratio Return relative to average drawdown	5.62	12.12	-6.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QCGLIX vs. FGIAX - Sharpe Ratio Comparison

The current QCGLIX Sharpe Ratio is 1.18, which is lower than the FGIAX Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of QCGLIX and FGIAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	QCGLIX	FGIAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	1.75	-0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.80	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.42	+0.28

Correlation

The correlation between QCGLIX and FGIAX is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

QCGLIX vs. FGIAX - Dividend Comparison

QCGLIX has not paid dividends to shareholders, while FGIAX's dividend yield for the trailing twelve months is around 9.12%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QCGLIX CREF Global Equities Account - R3	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FGIAX Nuveen Global Infrastructure Fund Class A	9.12%	9.99%	7.46%	2.27%	6.11%	7.20%	1.38%	7.06%	6.32%	5.83%	8.23%	3.05%

Drawdowns

QCGLIX vs. FGIAX - Drawdown Comparison

The maximum QCGLIX drawdown since its inception was -18.15%, smaller than the maximum FGIAX drawdown of -49.35%. Use the drawdown chart below to compare losses from any high point for QCGLIX and FGIAX.

Drawdown Indicators

	QCGLIX	FGIAX	Difference
Max Drawdown Largest peak-to-trough decline	-18.15%	-49.35%	+31.20%
Max Drawdown (1Y) Largest decline over 1 year	-12.13%	-8.29%	-3.84%
Max Drawdown (5Y) Largest decline over 5 years	—	-21.08%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.02%	—
Current Drawdown Current decline from peak	-10.29%	-3.78%	-6.51%
Average Drawdown Average peak-to-trough decline	-2.35%	-7.22%	+4.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	1.78%	+1.07%

Volatility

QCGLIX vs. FGIAX - Volatility Comparison

CREF Global Equities Account - R3 (QCGLIX) has a higher volatility of 5.61% compared to Nuveen Global Infrastructure Fund Class A (FGIAX) at 4.05%. This indicates that QCGLIX's price experiences larger fluctuations and is considered to be riskier than FGIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QCGLIX	FGIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.61%	4.05%	+1.56%
Volatility (6M) Calculated over the trailing 6-month period	10.11%	7.09%	+3.02%
Volatility (1Y) Calculated over the trailing 1-year period	15.74%	12.28%	+3.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.83%	13.08%	+2.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.83%	15.17%	+0.66%