TGRNX vs. HOBIX

Last updated Jun 23, 2026

TGRNX (TIAA-CREF Green Bond Fund) and HOBIX (Holbrook Income Fund Class I) are both Intermediate Core-Plus Bond funds. Over the past 5 years, TGRNX returned 0.29%/yr vs 4.26%/yr for HOBIX. At a 0.34 correlation, their price movements are largely independent. TGRNX charges 0.45%/yr vs 1.05%/yr for HOBIX.

Performance

TGRNX vs. HOBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TIAA-CREF Green Bond Fund (TGRNX) and Holbrook Income Fund Class I (HOBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TGRNX achieves a 0.68% return, which is significantly lower than HOBIX's 2.22% return.

TGRNX

• 1D: 0.11%
• 1M: 0.80%
• YTD: 0.68%
• 6M: 1.03%
• 1Y: 4.93%
• 3Y*: 4.77%
• 5Y*: 0.29%
• 10Y*: —

HOBIX

• 1D: 0.00%
• 1M: 0.38%
• YTD: 2.22%
• 6M: 3.19%
• 1Y: 6.17%
• 3Y*: 7.21%
• 5Y*: 4.26%
• 10Y*: —

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

TGRNX vs. HOBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TGRNX TIAA-CREF Green Bond Fund	0.68%	6.76%	3.08%	5.73%	-13.43%	-0.60%	8.57%	9.15%	1.43%
HOBIX Holbrook Income Fund Class I	2.22%	7.67%	7.66%	5.65%	-2.91%	6.13%	7.45%	7.70%	-1.78%

Correlation

The correlation between TGRNX and HOBIX is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.42
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (All Time) Calculated using the full available price history since Nov 16, 2018	0.34

The correlation between TGRNX and HOBIX shifts across timeframes, from 0.34 (all time) to 0.51 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

TGRNX vs. HOBIX — Risk / Return Rank

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

TGRNX

TGRNX Risk / Return Rank: 35
TGRNX Sharpe Ratio Rank: 35
TGRNX Sortino Ratio Rank: 41
TGRNX Omega Ratio Rank: 36
TGRNX Calmar Ratio Rank: 32
TGRNX Martin Ratio Rank: 29

HOBIX

HOBIX Risk / Return Rank: 98
HOBIX Sharpe Ratio Rank: 95
HOBIX Sortino Ratio Rank: 99
HOBIX Omega Ratio Rank: 99
HOBIX Calmar Ratio Rank: 99
HOBIX Martin Ratio Rank: 99

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.

TGRNX vs. HOBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Green Bond Fund (TGRNX) and Holbrook Income Fund Class I (HOBIX). 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.

	TGRNX	HOBIX	Difference
Sharpe ratio: Return per unit of total volatility	1.59	3.08	-1.48
Sortino ratio: Return per unit of downside risk	2.48	9.57	-7.09
Omega ratio: Gain probability vs. loss probability	1.30	4.27	-2.97
Calmar ratio: Return relative to maximum drawdown	2.01	12.16	-10.15
Martin ratio: Return relative to average drawdown	6.37	41.70	-35.33

TGRNX vs. HOBIX - Sharpe Ratio Comparison

The current TGRNX Sharpe Ratio is 1.59, which is lower than the HOBIX Sharpe Ratio of 3.08. The chart below compares the historical Sharpe Ratios of TGRNX and HOBIX, 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

TGRNX vs. HOBIX - Drawdown Comparison

The maximum TGRNX drawdown since its inception was -17.85%, smaller than the maximum HOBIX drawdown of -23.52%. Use the drawdown chart below to compare losses from any high point for TGRNX and HOBIX.

Drawdown Indicators

	TGRNX	HOBIX	Difference
Max Drawdown Largest peak-to-trough decline	-17.85%	-23.52%	+5.67%
Max Drawdown (1Y) Largest decline over 1 year	-2.47%	-0.51%	-1.96%
Max Drawdown (3Y) Largest decline over 3 years	-3.99%	-2.77%	-1.22%
Max Drawdown (5Y) Largest decline over 5 years	-17.85%	-4.16%	-13.69%
Current Drawdown Current decline from peak	-0.78%	-0.20%	-0.58%
Average Drawdown Average peak-to-trough decline	-5.20%	-0.96%	-4.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.78%	0.15%	+0.63%

Volatility

TGRNX vs. HOBIX - Volatility Comparison

TIAA-CREF Green Bond Fund (TGRNX) has a higher volatility of 1.01% compared to Holbrook Income Fund Class I (HOBIX) at 0.55%. This indicates that TGRNX's price experiences larger fluctuations and is considered to be riskier than HOBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TGRNX	HOBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.01%	0.55%	+0.46%
Volatility (6M) Calculated over the trailing 6-month period	2.35%	1.51%	+0.84%
Volatility (1Y) Calculated over the trailing 1-year period	3.12%	2.02%	+1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.84%	2.65%	+2.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.81%	5.72%	-0.91%

TGRNX vs. HOBIX - Expense Ratio Comparison

TGRNX has a 0.45% expense ratio, which is lower than HOBIX's 1.05% expense ratio.

Dividends

TGRNX vs. HOBIX - Dividend Comparison

TGRNX's dividend yield for the trailing twelve months is around 4.29%, less than HOBIX's 6.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
HOBIX Holbrook Income Fund Class I	6.31%	6.45%	7.04%	6.35%	5.31%	3.97%	6.30%	3.51%	4.32%	2.12%
TGRNX TIAA-CREF Green Bond Fund	4.29%	4.31%	4.48%	3.30%	2.69%	2.76%	4.20%	4.38%	0.43%	0.00%

Frequently Asked Questions

Can I hold both TGRNX and HOBIX in my portfolio?

TGRNX and HOBIX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TGRNX or HOBIX?

TGRNX has higher volatility (1.01%) compared to HOBIX (0.55%). In terms of maximum drawdown, TGRNX dropped -17.85% vs HOBIX's -23.52%.

Which has better risk-adjusted returns?

HOBIX currently has the higher Sharpe Ratio (3.08 vs 1.59), 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.