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TGRNX vs. SSASX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TGRNX vs. SSASX

Last updated Jun 4, 2026

TGRNX (TIAA-CREF Green Bond Fund) and SSASX (State Street Income Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, TGRNX returned 0.42%/yr vs -0.64%/yr for SSASX. With a 0.95 correlation, they move nearly in lockstep. TGRNX charges 0.45%/yr vs 0.20%/yr for SSASX.

Performance

TGRNX vs. SSASX - Performance Comparison

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

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Returns By Period

TGRNX

1D
0.00%
1M
0.58%
YTD
0.68%
6M
0.70%
1Y
5.40%
3Y*
4.65%
5Y*
0.42%
10Y*
—

SSASX

1D
0.00%
1M
0.35%
YTD
-0.00%
6M
-0.08%
1Y
5.12%
3Y*
2.95%
5Y*
-0.64%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

TGRNX vs. SSASX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
TGRNX
TIAA-CREF Green Bond Fund		0.68%6.76%3.08%5.73%-13.43%1.03%
SSASX
State Street Income Fund		-0.00%7.49%-0.95%4.83%-13.74%0.59%

Correlation

The correlation between TGRNX and SSASX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.92

Correlation (3Y)
Calculated over the trailing 3-year period

0.95

Correlation (5Y)
Calculated over the trailing 5-year period

0.95

Correlation (All Time)
Calculated using the full available price history since May 25, 2021

0.95

The correlation between TGRNX and SSASX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

TIAA-CREF Green Bond Fund

State Street Income Fund

Often compared with TGRNX:
TGRNX vs. HOBIXTGRNX vs. JCPUXTGRNX vs. SAMFXTGRNX vs. PTSAXTGRNX vs. NPCTTGRNX vs. ANBAXTGRNX vs. GUGAX
Often compared with SSASX:
SSASX vs. BLKSSASX vs. AIMNXSSASX vs. VTISSASX vs. MDVAXSSASX vs. DBLFXSSASX vs. CGBIXSSASX vs. SAVYX

Return for Risk

TGRNX vs. SSASX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TGRNX
TGRNX Risk / Return Rank: 3636
Overall Rank
TGRNX Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
TGRNX Sortino Ratio Rank: 4141
Sortino Ratio Rank
TGRNX Omega Ratio Rank: 3838
Omega Ratio Rank
TGRNX Calmar Ratio Rank: 3434
Calmar Ratio Rank
TGRNX Martin Ratio Rank: 3232
Martin Ratio Rank
SSASX
SSASX Risk / Return Rank: 1818
Overall Rank
SSASX Sharpe Ratio Rank: 1818
Sharpe Ratio Rank
SSASX Sortino Ratio Rank: 1919
Sortino Ratio Rank
SSASX Omega Ratio Rank: 1717
Omega Ratio Rank
SSASX Calmar Ratio Rank: 1717
Calmar Ratio Rank
SSASX Martin Ratio Rank: 1616
Martin Ratio Rank
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. SSASX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Green Bond Fund (TGRNX) and State Street Income Fund (SSASX). 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.

TGRNXSSASXDifference
Sharpe ratioReturn per unit of total volatility
1.73
1.22

+0.51

Sortino ratioReturn per unit of downside risk
2.69
1.83

+0.87

Omega ratioGain probability vs. loss probability

1.33

1.22

+0.11

Calmar ratioReturn relative to maximum drawdown

2.20

1.50

+0.70

Martin ratioReturn relative to average drawdown

7.23

4.51

+2.72

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TGRNX vs. SSASX - Sharpe Ratio Comparison

The current TGRNX Sharpe Ratio is 1.73, which is higher than the SSASX Sharpe Ratio of 1.22. The chart below compares the historical Sharpe Ratios of TGRNX and SSASX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

TGRNXSSASXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.73

1.22

+0.51

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.09

-0.10

+0.19

Sharpe Ratio (All Time)

Calculated using the full available price history

0.54

-0.10

+0.64

Drawdowns

TGRNX vs. SSASX - Drawdown Comparison

The maximum TGRNX drawdown since its inception was -17.85%, smaller than the maximum SSASX drawdown of -19.65%. Use the drawdown chart below to compare losses from any high point for TGRNX and SSASX.

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Drawdown Indicators

TGRNXSSASXDifference

Max Drawdown

Largest peak-to-trough decline

-17.85%

-19.65%

+1.80%

Max Drawdown (1Y)

Largest decline over 1 year

-2.47%

-3.42%

+0.95%

Max Drawdown (3Y)

Largest decline over 3 years

-3.99%

-7.97%

+3.98%

Max Drawdown (5Y)

Largest decline over 5 years

-17.85%

-19.65%

+1.80%

Current Drawdown

Current decline from peak

-0.78%

-5.26%

+4.48%

Average Drawdown

Average peak-to-trough decline

-5.23%

-9.68%

+4.45%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.75%

1.14%

-0.39%

Volatility

TGRNX vs. SSASX - Volatility Comparison

The current volatility for TIAA-CREF Green Bond Fund (TGRNX) is 1.06%, while State Street Income Fund (SSASX) has a volatility of 1.46%. This indicates that TGRNX experiences smaller price fluctuations and is considered to be less risky than SSASX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TGRNXSSASXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.06%

1.46%

-0.40%

Volatility (6M)

Calculated over the trailing 6-month period

2.31%

2.96%

-0.65%

Volatility (1Y)

Calculated over the trailing 1-year period

3.15%

4.22%

-1.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

4.84%

6.49%

-1.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.82%

6.49%

-1.67%

TGRNX vs. SSASX - Expense Ratio Comparison

TGRNX has a 0.45% expense ratio, which is higher than SSASX's 0.20% expense ratio.

Dividends

TGRNX vs. SSASX - Dividend Comparison

TGRNX's dividend yield for the trailing twelve months is around 4.29%, more than SSASX's 4.00% yield.

PositionTTM20252024202320222021202020192018
SSASX
State Street Income Fund		4.00%4.01%2.76%2.86%2.48%3.77%0.00%0.00%0.00%
TGRNX
TIAA-CREF Green Bond Fund		4.29%4.31%4.48%3.30%2.69%2.76%4.20%4.38%0.43%

Frequently Asked Questions

With a correlation of 0.92, TGRNX and SSASX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

SSASX has higher volatility (1.46%) compared to TGRNX (1.06%). In terms of maximum drawdown, TGRNX dropped -17.85% vs SSASX's -19.65%.

TGRNX currently has the higher Sharpe Ratio (1.73 vs 1.22), 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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