QCGLIX vs. VTWAX

Last updated Jun 4, 2026

QCGLIX (CREF Global Equities Account - R3) and VTWAX (Vanguard Total World Stock Index Fund Admiral Shares) are both Global Equities funds - QCGLIX tracks the MSCI ACWI NR USD while VTWAX tracks the FTSE Global All Cap Index. Both are passively managed. Over the past year, QCGLIX returned 31.37% vs 30.29% for VTWAX. With a 0.95 correlation, they move nearly in lockstep. QCGLIX charges 0.24%/yr vs 0.09%/yr for VTWAX.

Performance

QCGLIX vs. VTWAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CREF Global Equities Account - R3 (QCGLIX) and Vanguard Total World Stock Index Fund Admiral Shares (VTWAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with QCGLIX having a 13.34% return and VTWAX slightly lower at 13.15%.

QCGLIX

• 1D: 0.59%
• 1M: 6.08%
• YTD: 13.34%
• 6M: 13.83%
• 1Y: 31.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VTWAX

• 1D: 0.37%
• 1M: 5.68%
• YTD: 13.15%
• 6M: 14.09%
• 1Y: 30.29%
• 3Y*: 21.27%
• 5Y*: 11.34%
• 10Y*: —

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

QCGLIX vs. VTWAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QCGLIX CREF Global Equities Account - R3	13.34%	20.08%	0.00%
VTWAX Vanguard Total World Stock Index Fund Admiral Shares	13.15%	22.43%	-1.16%

Correlation

The correlation between QCGLIX and VTWAX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (All Time) Calculated using the full available price history since Dec 30, 2024	0.95

The correlation between QCGLIX and VTWAX has been stable across timeframes, ranging from 0.95 to 0.99 - a consistent structural relationship.

Return for Risk

QCGLIX vs. VTWAX — Risk / Return Rank

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

QCGLIX

QCGLIX Risk / Return Rank: 66
QCGLIX Sharpe Ratio Rank: 67
QCGLIX Sortino Ratio Rank: 61
QCGLIX Omega Ratio Rank: 62
QCGLIX Calmar Ratio Rank: 65
QCGLIX Martin Ratio Rank: 73

VTWAX

VTWAX Risk / Return Rank: 70
VTWAX Sharpe Ratio Rank: 73
VTWAX Sortino Ratio Rank: 67
VTWAX Omega Ratio Rank: 65
VTWAX Calmar Ratio Rank: 68
VTWAX Martin Ratio Rank: 75

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. VTWAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CREF Global Equities Account - R3 (QCGLIX) and Vanguard Total World Stock Index Fund Admiral Shares (VTWAX). 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	VTWAX	Difference
Sharpe ratio: Return per unit of total volatility	2.40	2.49	-0.09
Sortino ratio: Return per unit of downside risk	3.28	3.41	-0.13
Omega ratio: Gain probability vs. loss probability	1.44	1.45	-0.02
Calmar ratio: Return relative to maximum drawdown	3.10	3.19	-0.09
Martin ratio: Return relative to average drawdown	13.83	14.26	-0.43
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. VTWAX - Sharpe Ratio Comparison

The current QCGLIX Sharpe Ratio is 2.40, which is comparable to the VTWAX Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of QCGLIX and VTWAX, 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

	QCGLIX	VTWAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.40	2.49	-0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.73	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.56	0.77	+0.79

Drawdowns

QCGLIX vs. VTWAX - Drawdown Comparison

The maximum QCGLIX drawdown since its inception was -18.15%, smaller than the maximum VTWAX drawdown of -34.20%. Use the drawdown chart below to compare losses from any high point for QCGLIX and VTWAX.

Drawdown Indicators

	QCGLIX	VTWAX	Difference
Max Drawdown Largest peak-to-trough decline	-18.15%	-34.20%	+16.05%
Max Drawdown (1Y) Largest decline over 1 year	-10.29%	-9.64%	-0.65%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.43%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.40%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.22%	-5.30%	+3.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	2.15%	+0.14%

Volatility

QCGLIX vs. VTWAX - Volatility Comparison

CREF Global Equities Account - R3 (QCGLIX) has a higher volatility of 3.92% compared to Vanguard Total World Stock Index Fund Admiral Shares (VTWAX) at 3.55%. This indicates that QCGLIX's price experiences larger fluctuations and is considered to be riskier than VTWAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QCGLIX	VTWAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.92%	3.55%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	10.64%	9.82%	+0.82%
Volatility (1Y) Calculated over the trailing 1-year period	13.30%	12.37%	+0.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.89%	15.71%	+0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.89%	18.20%	-2.31%

QCGLIX vs. VTWAX - Expense Ratio Comparison

QCGLIX has a 0.24% expense ratio, which is higher than VTWAX's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

QCGLIX vs. VTWAX - Dividend Comparison

QCGLIX has not paid dividends to shareholders, while VTWAX's dividend yield for the trailing twelve months is around 1.56%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
QCGLIX CREF Global Equities Account - R3	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VTWAX Vanguard Total World Stock Index Fund Admiral Shares	1.56%	1.80%	1.92%	2.06%	2.17%	1.79%	1.64%	2.28%

Frequently Asked Questions

Can I hold both QCGLIX and VTWAX in my portfolio?

With a correlation of 0.99, QCGLIX and VTWAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, QCGLIX or VTWAX?

QCGLIX has higher volatility (3.92%) compared to VTWAX (3.55%). In terms of maximum drawdown, QCGLIX dropped -18.15% vs VTWAX's -34.20%.

Which has better risk-adjusted returns?

VTWAX currently has the higher Sharpe Ratio (2.49 vs 2.40), 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.