TCIEX vs. SPY
Compare and contrast key facts about TIAA-CREF International Equity Index Fund Institutional Class (TCIEX) and SPDR S&P 500 ETF (SPY).
TCIEX is a passively managed fund by TIAA Investments that tracks the performance of the MSCI EAFE Index. It was launched on Oct 1, 2002. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both TCIEX and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: TCIEX or SPY.
Key characteristics
| TCIEX | SPY | |
|---|---|---|
| YTD Return | 7.04% | 27.04% |
| 1Y Return | 18.77% | 39.75% |
| 3Y Return (Ann) | 2.29% | 10.21% |
| 5Y Return (Ann) | 6.11% | 15.93% |
| 10Y Return (Ann) | 5.38% | 13.36% |
| Sharpe Ratio | 1.37 | 3.15 |
| Sortino Ratio | 1.96 | 4.19 |
| Omega Ratio | 1.24 | 1.59 |
| Calmar Ratio | 1.80 | 4.60 |
| Martin Ratio | 7.65 | 20.85 |
| Ulcer Index | 2.45% | 1.85% |
| Daily Std Dev | 13.70% | 12.29% |
| Max Drawdown | -60.62% | -55.19% |
| Current Drawdown | -6.40% | 0.00% |
Correlation
The correlation between TCIEX and SPY is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
TCIEX vs. SPY - Performance Comparison
In the year-to-date period, TCIEX achieves a 7.04% return, which is significantly lower than SPY's 27.04% return. Over the past 10 years, TCIEX has underperformed SPY with an annualized return of 5.38%, while SPY has yielded a comparatively higher 13.36% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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TCIEX vs. SPY - Expense Ratio Comparison
TCIEX has a 0.05% expense ratio, which is lower than SPY'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%.
Risk-Adjusted Performance
TCIEX vs. SPY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF International Equity Index Fund Institutional Class (TCIEX) and SPDR S&P 500 ETF (SPY). 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.
Dividends
TCIEX vs. SPY - Dividend Comparison
TCIEX's dividend yield for the trailing twelve months is around 2.94%, more than SPY's 1.17% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TCIEX TIAA-CREF International Equity Index Fund Institutional Class | 2.94% | 3.14% | 2.82% | 3.02% | 1.96% | 3.08% | 3.42% | 2.78% | 2.95% | 3.05% | 3.94% | 2.83% |
SPY SPDR S&P 500 ETF | 1.17% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% | 1.87% | 1.81% |
Drawdowns
TCIEX vs. SPY - Drawdown Comparison
The maximum TCIEX drawdown since its inception was -60.62%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for TCIEX and SPY. For additional features, visit the drawdowns tool.
Volatility
TCIEX vs. SPY - Volatility Comparison
TIAA-CREF International Equity Index Fund Institutional Class (TCIEX) and SPDR S&P 500 ETF (SPY) have volatilities of 4.01% and 3.95%, 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.