TEQLX vs. PGEIX

Last updated Jun 4, 2026

TEQLX (TIAA-CREF Emerging Markets Equity Index Fund) and PGEIX (Polen Global Emerging Markets Growth Fund) are both Emerging Markets Diversified funds. Over the past year, TEQLX returned 59.14% vs 12.65% for PGEIX. A 0.77 correlation means they provide meaningful diversification when combined. TEQLX charges 0.19%/yr vs 1.25%/yr for PGEIX.

Performance

TEQLX vs. PGEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TIAA-CREF Emerging Markets Equity Index Fund (TEQLX) and Polen Global Emerging Markets Growth Fund (PGEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TEQLX achieves a 30.13% return, which is significantly higher than PGEIX's 4.51% return.

TEQLX

• 1D: 1.22%
• 1M: 10.66%
• YTD: 30.13%
• 6M: 33.10%
• 1Y: 59.14%
• 3Y*: 24.95%
• 5Y*: 7.91%
• 10Y*: 10.64%

PGEIX

• 1D: 1.17%
• 1M: -17.69%
• YTD: 4.51%
• 6M: 6.98%
• 1Y: 12.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TEQLX vs. PGEIX - Yearly Performance Comparison

	2026 (YTD)	2025
TEQLX TIAA-CREF Emerging Markets Equity Index Fund	30.13%	29.18%
PGEIX Polen Global Emerging Markets Growth Fund	4.51%	16.07%

Correlation

The correlation between TEQLX and PGEIX is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (All Time) Calculated using the full available price history since Apr 29, 2025	0.77

The correlation between TEQLX and PGEIX has been stable across timeframes, ranging from 0.77 to 0.79 - a consistent structural relationship.

Return for Risk

TEQLX vs. PGEIX — Risk / Return Rank

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

TEQLX

TEQLX Risk / Return Rank: 90
TEQLX Sharpe Ratio Rank: 95
TEQLX Sortino Ratio Rank: 87
TEQLX Omega Ratio Rank: 88
TEQLX Calmar Ratio Rank: 89
TEQLX Martin Ratio Rank: 89

PGEIX

PGEIX Risk / Return Rank: 6
PGEIX Sharpe Ratio Rank: 5
PGEIX Sortino Ratio Rank: 5
PGEIX Omega Ratio Rank: 9
PGEIX Calmar Ratio Rank: 5
PGEIX Martin Ratio Rank: 7

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.

TEQLX vs. PGEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Emerging Markets Equity Index Fund (TEQLX) and Polen Global Emerging Markets Growth Fund (PGEIX). 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.

	TEQLX	PGEIX	Difference
Sharpe ratio: Return per unit of total volatility	3.33	0.42	+2.91
Sortino ratio: Return per unit of downside risk	4.18	0.70	+3.48
Omega ratio: Gain probability vs. loss probability	1.62	1.14	+0.48
Calmar ratio: Return relative to maximum drawdown	4.50	0.48	+4.02
Martin ratio: Return relative to average drawdown	17.79	1.87	+15.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TEQLX vs. PGEIX - Sharpe Ratio Comparison

The current TEQLX Sharpe Ratio is 3.33, which is higher than the PGEIX Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of TEQLX and PGEIX, 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

	TEQLX	PGEIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.33	0.42	+2.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.68	-0.32

Drawdowns

TEQLX vs. PGEIX - Drawdown Comparison

The maximum TEQLX drawdown since its inception was -39.33%, which is greater than PGEIX's maximum drawdown of -29.87%. Use the drawdown chart below to compare losses from any high point for TEQLX and PGEIX.

Drawdown Indicators

	TEQLX	PGEIX	Difference
Max Drawdown Largest peak-to-trough decline	-39.33%	-29.87%	-9.46%
Max Drawdown (1Y) Largest decline over 1 year	-13.32%	-29.87%	+16.55%
Max Drawdown (3Y) Largest decline over 3 years	-15.97%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-37.05%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.33%	—	—
Current Drawdown Current decline from peak	0.00%	-22.01%	+22.01%
Average Drawdown Average peak-to-trough decline	-14.61%	-4.02%	-10.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.35%	—	—

Volatility

TEQLX vs. PGEIX - Volatility Comparison

The current volatility for TIAA-CREF Emerging Markets Equity Index Fund (TEQLX) is 7.75%, while Polen Global Emerging Markets Growth Fund (PGEIX) has a volatility of 27.45%. This indicates that TEQLX experiences smaller price fluctuations and is considered to be less risky than PGEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TEQLX	PGEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.75%	27.45%	-19.70%
Volatility (6M) Calculated over the trailing 6-month period	15.43%	32.22%	-16.79%
Volatility (1Y) Calculated over the trailing 1-year period	17.98%	34.09%	-16.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.99%	33.04%	-16.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.68%	33.04%	-15.36%

TEQLX vs. PGEIX - Expense Ratio Comparison

TEQLX has a 0.19% expense ratio, which is lower than PGEIX's 1.25% expense ratio.

Dividends

TEQLX vs. PGEIX - Dividend Comparison

TEQLX's dividend yield for the trailing twelve months is around 2.17%, while PGEIX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PGEIX Polen Global Emerging Markets Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TEQLX TIAA-CREF Emerging Markets Equity Index Fund	2.17%	2.83%	2.93%	3.08%	2.51%	2.27%	2.04%	2.77%	2.43%	1.98%	1.88%	2.40%

Frequently Asked Questions

Can I hold both TEQLX and PGEIX in my portfolio?

TEQLX and PGEIX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TEQLX or PGEIX?

PGEIX has higher volatility (27.45%) compared to TEQLX (7.75%). In terms of maximum drawdown, TEQLX dropped -39.33% vs PGEIX's -29.87%.

Which has better risk-adjusted returns?

TEQLX currently has the higher Sharpe Ratio (3.33 vs 0.42), 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.