TEQLX vs. SCHG

Last updated Jun 23, 2026

TEQLX (TIAA-CREF Emerging Markets Equity Index Fund) and SCHG (Schwab U.S. Large-Cap Growth ETF) are both funds - TEQLX is a Emerging Markets Diversified fund managed by TIAA Investments, while SCHG is a Large Cap Growth Equities fund tracking the Dow Jones U.S. Large-Cap Growth Total Stock Market Index. Over the past 10 years, TEQLX returned 10.58%/yr vs 18.81%/yr for SCHG. A 0.66 correlation means they provide meaningful diversification when combined. TEQLX charges 0.19%/yr vs 0.04%/yr for SCHG.

Performance

TEQLX vs. SCHG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TIAA-CREF Emerging Markets Equity Index Fund (TEQLX) and Schwab U.S. Large-Cap Growth ETF (SCHG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TEQLX achieves a 30.06% return, which is significantly higher than SCHG's 2.76% return. Over the past 10 years, TEQLX has underperformed SCHG with an annualized return of 10.58%, while SCHG has yielded a comparatively higher 18.81% annualized return.

TEQLX

• 1D: 3.11%
• 1M: 7.60%
• YTD: 30.06%
• 6M: 31.94%
• 1Y: 55.75%
• 3Y*: 23.22%
• 5Y*: 8.29%
• 10Y*: 10.58%

SCHG

• 1D: -1.24%
• 1M: -2.59%
• YTD: 2.76%
• 6M: 2.11%
• 1Y: 20.89%
• 3Y*: 22.70%
• 5Y*: 13.68%
• 10Y*: 18.81%

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

TEQLX vs. SCHG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TEQLX TIAA-CREF Emerging Markets Equity Index Fund	30.06%	34.10%	6.71%	9.23%	-20.22%	-3.07%	17.67%	18.59%	-14.60%	37.47%
SCHG Schwab U.S. Large-Cap Growth ETF	2.76%	17.50%	34.95%	50.10%	-31.80%	28.11%	39.14%	36.02%	-1.36%	28.05%

Correlation

The correlation between TEQLX and SCHG is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Aug 31, 2010	0.66

The correlation between TEQLX and SCHG has been stable across timeframes, ranging from 0.59 to 0.66 - a consistent structural relationship.

Return for Risk

TEQLX vs. SCHG — Risk / Return Rank

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

TEQLX

TEQLX Risk / Return Rank: 86
TEQLX Sharpe Ratio Rank: 90
TEQLX Sortino Ratio Rank: 78
TEQLX Omega Ratio Rank: 84
TEQLX Calmar Ratio Rank: 89
TEQLX Martin Ratio Rank: 88

SCHG

SCHG Risk / Return Rank: 33
SCHG Sharpe Ratio Rank: 37
SCHG Sortino Ratio Rank: 35
SCHG Omega Ratio Rank: 35
SCHG Calmar Ratio Rank: 27
SCHG Martin Ratio Rank: 30

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. SCHG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Emerging Markets Equity Index Fund (TEQLX) and Schwab U.S. Large-Cap Growth ETF (SCHG). 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.

	TEQLX	SCHG	Difference
Sharpe ratio: Return per unit of total volatility	2.75	1.30	+1.46
Sortino ratio: Return per unit of downside risk	3.41	1.79	+1.62
Omega ratio: Gain probability vs. loss probability	1.52	1.23	+0.29
Calmar ratio: Return relative to maximum drawdown	4.18	1.28	+2.90
Martin ratio: Return relative to average drawdown	15.69	4.19	+11.50

TEQLX vs. SCHG - Sharpe Ratio Comparison

The current TEQLX Sharpe Ratio is 2.75, which is higher than the SCHG Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of TEQLX and SCHG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TEQLX vs. SCHG - Drawdown Comparison

The maximum TEQLX drawdown since its inception was -39.33%, which is greater than SCHG's maximum drawdown of -34.59%. Use the drawdown chart below to compare losses from any high point for TEQLX and SCHG.

Drawdown Indicators

	TEQLX	SCHG	Difference
Max Drawdown Largest peak-to-trough decline	-39.33%	-34.59%	-4.74%
Max Drawdown (1Y) Largest decline over 1 year	-13.32%	-16.41%	+3.09%
Max Drawdown (3Y) Largest decline over 3 years	-15.97%	-23.39%	+7.42%
Max Drawdown (5Y) Largest decline over 5 years	-36.96%	-34.59%	-2.37%
Max Drawdown (10Y) Largest decline over 10 years	-39.33%	-34.59%	-4.74%
Current Drawdown Current decline from peak	-0.05%	-5.16%	+5.11%
Average Drawdown Average peak-to-trough decline	-14.57%	-5.20%	-9.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.53%	5.00%	-1.47%

Volatility

TEQLX vs. SCHG - Volatility Comparison

TIAA-CREF Emerging Markets Equity Index Fund (TEQLX) has a higher volatility of 10.69% compared to Schwab U.S. Large-Cap Growth ETF (SCHG) at 5.78%. This indicates that TEQLX's price experiences larger fluctuations and is considered to be riskier than SCHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TEQLX	SCHG	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.69%	5.78%	+4.91%
Volatility (6M) Calculated over the trailing 6-month period	18.12%	12.50%	+5.62%
Volatility (1Y) Calculated over the trailing 1-year period	20.21%	16.21%	+4.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.49%	22.37%	-4.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.90%	21.61%	-3.71%

TEQLX vs. SCHG - Expense Ratio Comparison

TEQLX has a 0.19% expense ratio, which is higher than SCHG's 0.04% 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

TEQLX vs. SCHG - Dividend Comparison

TEQLX's dividend yield for the trailing twelve months is around 2.17%, more than SCHG's 0.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHG Schwab U.S. Large-Cap Growth ETF	0.38%	0.36%	0.39%	0.46%	0.55%	0.42%	0.52%	0.82%	1.27%	1.01%	1.04%	1.22%
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 SCHG in my portfolio?

TEQLX and SCHG have a correlation of 0.65, 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 SCHG?

TEQLX has higher volatility (10.69%) compared to SCHG (5.78%). In terms of maximum drawdown, TEQLX dropped -39.33% vs SCHG's -34.59%.

Which has better risk-adjusted returns?

TEQLX currently has the higher Sharpe Ratio (2.75 vs 1.30), 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.