TBIIX vs. BKLN
TBIIX (TIAA-CREF Bond Index Fund) and BKLN (Invesco Senior Loan ETF) are both funds - TBIIX is a Intermediate Core Bond fund managed by TIAA Investments, while BKLN is a Bank Loan fund tracking the Morningstar LSTA US Leveraged Loan 100 Index. Over the past 10 years, TBIIX returned 1.33%/yr vs 4.32%/yr for BKLN. At a correlation of -0.02, they often move in opposite directions. TBIIX charges 0.07%/yr vs 0.65%/yr for BKLN.
Performance
TBIIX vs. BKLN - Performance Comparison
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Returns By Period
In the year-to-date period, TBIIX achieves a 0.10% return, which is significantly higher than BKLN's -0.13% return. Over the past 10 years, TBIIX has underperformed BKLN with an annualized return of 1.33%, while BKLN has yielded a comparatively higher 4.32% annualized return.
TBIIX
- 1D
- -0.31%
- 1M
- 0.55%
- YTD
- 0.10%
- 6M
- 0.42%
- 1Y
- 4.17%
- 3Y*
- 3.70%
- 5Y*
- -0.27%
- 10Y*
- 1.33%
BKLN
- 1D
- -0.10%
- 1M
- -0.14%
- YTD
- -0.13%
- 6M
- 0.06%
- 1Y
- 4.27%
- 3Y*
- 7.20%
- 5Y*
- 5.11%
- 10Y*
- 4.32%
TBIIX vs. BKLN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TBIIX TIAA-CREF Bond Index Fund | 0.10% | 7.12% | 1.13% | 5.13% | -13.61% | -1.81% | 7.69% | 8.58% | -0.25% | 3.43% |
BKLN Invesco Senior Loan ETF | -0.13% | 6.88% | 8.21% | 12.53% | -2.51% | 2.32% | 1.32% | 10.03% | -1.32% | 2.13% |
Correlation
The correlation between TBIIX and BKLN is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Mar 3, 2011 | -0.02 |
The correlation between TBIIX and BKLN shifts across timeframes, from -0.02 (all time) to 0.19 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
TBIIX vs. BKLN — Risk / Return Rank
TBIIX
BKLN
TBIIX vs. BKLN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Bond Index Fund (TBIIX) and Invesco Senior Loan ETF (BKLN). 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.
| TBIIX | BKLN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.35 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.48 | 1.39 | +0.08 |
| Martin ratioReturn relative to average drawdown | 4.21 | 5.44 | -1.23 |
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Drawdowns
TBIIX vs. BKLN - Drawdown Comparison
The maximum TBIIX drawdown since its inception was -19.33%, smaller than the maximum BKLN drawdown of -24.17%. Use the drawdown chart below to compare losses from any high point for TBIIX and BKLN.
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Drawdown Indicators
| TBIIX | BKLN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.33% | -24.17% | +4.84% |
Max Drawdown (1Y)Largest decline over 1 year | -2.99% | -3.07% | +0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -6.17% | -3.55% | -2.62% |
Max Drawdown (5Y)Largest decline over 5 years | -18.68% | -7.31% | -11.37% |
Max Drawdown (10Y)Largest decline over 10 years | -19.33% | -24.17% | +4.84% |
Current DrawdownCurrent decline from peak | -3.79% | -0.57% | -3.22% |
Average DrawdownAverage peak-to-trough decline | -3.68% | -1.09% | -2.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 0.79% | +0.25% |
Volatility
TBIIX vs. BKLN - Volatility Comparison
TIAA-CREF Bond Index Fund (TBIIX) has a higher volatility of 1.19% compared to Invesco Senior Loan ETF (BKLN) at 0.54%. This indicates that TBIIX's price experiences larger fluctuations and is considered to be riskier than BKLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TBIIX | BKLN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 0.54% | +0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 2.96% | 2.54% | +0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.03% | 2.76% | +1.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.08% | 4.48% | +1.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.02% | 6.43% | -1.41% |
TBIIX vs. BKLN - Expense Ratio Comparison
TBIIX has a 0.07% expense ratio, which is lower than BKLN's 0.65% expense ratio.
Dividends
TBIIX vs. BKLN - Dividend Comparison
TBIIX's dividend yield for the trailing twelve months is around 3.91%, less than BKLN's 6.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BKLN Invesco Senior Loan ETF | 6.59% | 6.95% | 8.41% | 8.59% | 4.93% | 3.11% | 3.56% | 4.86% | 4.52% | 3.50% | 4.54% | 4.12% |
TBIIX TIAA-CREF Bond Index Fund | 3.91% | 3.73% | 3.14% | 2.44% | 2.11% | 2.07% | 3.17% | 2.82% | 2.46% | 2.44% | 2.31% | 2.61% |
Frequently Asked Questions
TBIIX and BKLN have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TBIIX has higher volatility (1.19%) compared to BKLN (0.54%). In terms of maximum drawdown, TBIIX dropped -19.33% vs BKLN's -24.17%.
BKLN currently has the higher Sharpe Ratio (1.55 vs 1.10), 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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