TIILX vs. VCTPX

Last updated Jun 23, 2026

TIILX (TIAA-CREF Inflation-Linked Bond Fund) and VCTPX (VALIC Company I Inflation Protected Fund) are both Inflation-Protected Bonds funds. Over the past 10 years, TIILX returned 2.86%/yr vs 2.35%/yr for VCTPX. Their correlation of 0.89 suggests significant overlap in exposure. TIILX charges 0.23%/yr vs 0.52%/yr for VCTPX.

Performance

TIILX vs. VCTPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TIAA-CREF Inflation-Linked Bond Fund (TIILX) and VALIC Company I Inflation Protected Fund (VCTPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TIILX achieves a 1.02% return, which is significantly lower than VCTPX's 2.00% return. Over the past 10 years, TIILX has outperformed VCTPX with an annualized return of 2.86%, while VCTPX has yielded a comparatively lower 2.35% annualized return.

TIILX

• 1D: 0.28%
• 1M: 0.00%
• YTD: 1.02%
• 6M: 1.11%
• 1Y: 3.64%
• 3Y*: 4.62%
• 5Y*: 2.32%
• 10Y*: 2.86%

VCTPX

• 1D: 0.11%
• 1M: 0.45%
• YTD: 2.00%
• 6M: 2.23%
• 1Y: 5.07%
• 3Y*: 2.91%
• 5Y*: 0.95%
• 10Y*: 2.35%

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

TIILX vs. VCTPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TIILX TIAA-CREF Inflation-Linked Bond Fund	1.02%	7.09%	3.28%	4.35%	-7.22%	5.26%	8.10%	6.60%	-0.49%	1.74%
VCTPX VALIC Company I Inflation Protected Fund	2.00%	4.22%	1.15%	4.03%	-10.23%	5.10%	8.76%	8.66%	-3.13%	4.86%

Correlation

The correlation between TIILX and VCTPX is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Dec 21, 2004	0.89

The correlation between TIILX and VCTPX has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.

Return for Risk

TIILX vs. VCTPX — Risk / Return Rank

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

TIILX

TIILX Risk / Return Rank: 40
TIILX Sharpe Ratio Rank: 30
TIILX Sortino Ratio Rank: 32
TIILX Omega Ratio Rank: 31
TIILX Calmar Ratio Rank: 59
TIILX Martin Ratio Rank: 49

VCTPX

VCTPX Risk / Return Rank: 47
VCTPX Sharpe Ratio Rank: 42
VCTPX Sortino Ratio Rank: 45
VCTPX Omega Ratio Rank: 45
VCTPX Calmar Ratio Rank: 63
VCTPX Martin Ratio Rank: 38

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.

TIILX vs. VCTPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Inflation-Linked Bond Fund (TIILX) and VALIC Company I Inflation Protected Fund (VCTPX). 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.

	TIILX	VCTPX	Difference
Sharpe ratio: Return per unit of total volatility	1.45	1.76	-0.31
Sortino ratio: Return per unit of downside risk	2.22	2.60	-0.38
Omega ratio: Gain probability vs. loss probability	1.27	1.34	-0.06
Calmar ratio: Return relative to maximum drawdown	2.81	2.91	-0.10
Martin ratio: Return relative to average drawdown	9.63	7.89	+1.74

TIILX vs. VCTPX - Sharpe Ratio Comparison

The current TIILX Sharpe Ratio is 1.45, which is comparable to the VCTPX Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of TIILX and VCTPX, 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

TIILX vs. VCTPX - Drawdown Comparison

The maximum TIILX drawdown since its inception was -14.24%, smaller than the maximum VCTPX drawdown of -17.48%. Use the drawdown chart below to compare losses from any high point for TIILX and VCTPX.

Drawdown Indicators

	TIILX	VCTPX	Difference
Max Drawdown Largest peak-to-trough decline	-14.24%	-17.48%	+3.24%
Max Drawdown (1Y) Largest decline over 1 year	-1.37%	-1.84%	+0.47%
Max Drawdown (3Y) Largest decline over 3 years	-2.49%	-5.19%	+2.70%
Max Drawdown (5Y) Largest decline over 5 years	-9.57%	-12.81%	+3.24%
Max Drawdown (10Y) Largest decline over 10 years	-9.57%	-12.81%	+3.24%
Current Drawdown Current decline from peak	-0.82%	-0.23%	-0.59%
Average Drawdown Average peak-to-trough decline	-2.91%	-5.82%	+2.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	0.68%	-0.28%

Volatility

TIILX vs. VCTPX - Volatility Comparison

TIAA-CREF Inflation-Linked Bond Fund (TIILX) has a higher volatility of 1.08% compared to VALIC Company I Inflation Protected Fund (VCTPX) at 0.86%. This indicates that TIILX's price experiences larger fluctuations and is considered to be riskier than VCTPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TIILX	VCTPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	0.86%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	1.98%	2.19%	-0.21%
Volatility (1Y) Calculated over the trailing 1-year period	2.66%	3.05%	-0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.39%	5.60%	-1.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.83%	4.86%	-1.03%

TIILX vs. VCTPX - Expense Ratio Comparison

TIILX has a 0.23% expense ratio, which is lower than VCTPX's 0.52% expense ratio.

Dividends

TIILX vs. VCTPX - Dividend Comparison

TIILX's dividend yield for the trailing twelve months is around 3.10%, more than VCTPX's 2.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TIILX TIAA-CREF Inflation-Linked Bond Fund	3.10%	3.95%	3.45%	3.38%	8.60%	6.29%	1.28%	1.85%	2.59%	2.00%	1.55%	0.33%
VCTPX VALIC Company I Inflation Protected Fund	2.56%	0.00%	13.97%	13.35%	8.00%	1.86%	2.20%	1.63%	1.98%	0.39%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TIILX and VCTPX in my portfolio?

TIILX and VCTPX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TIILX or VCTPX?

TIILX has higher volatility (1.08%) compared to VCTPX (0.86%). In terms of maximum drawdown, TIILX dropped -14.24% vs VCTPX's -17.48%.

Which has better risk-adjusted returns?

VCTPX currently has the higher Sharpe Ratio (1.76 vs 1.45), 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.