TILIX vs. DFREX

Last updated Jun 4, 2026

TILIX (TIAA-CREF Large-Cap Growth Index Fund) and DFREX (DFA Real Estate Securities Portfolio Class I) are both mutual funds - TILIX is a Large Cap Growth Equities fund managed by TIAA Investments, while DFREX is a REIT fund managed by Dimensional. Over the past 10 years, TILIX returned 18.64%/yr vs 5.71%/yr for DFREX. A 0.57 correlation means they provide meaningful diversification when combined. TILIX charges 0.05%/yr vs 0.18%/yr for DFREX.

Performance

TILIX vs. DFREX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TIAA-CREF Large-Cap Growth Index Fund (TILIX) and DFA Real Estate Securities Portfolio Class I (DFREX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TILIX achieves a 8.58% return, which is significantly lower than DFREX's 11.42% return. Over the past 10 years, TILIX has outperformed DFREX with an annualized return of 18.64%, while DFREX has yielded a comparatively lower 5.71% annualized return.

TILIX

• 1D: -0.37%
• 1M: 7.10%
• YTD: 8.58%
• 6M: 7.86%
• 1Y: 27.30%
• 3Y*: 25.49%
• 5Y*: 16.00%
• 10Y*: 18.64%

DFREX

• 1D: 0.30%
• 1M: -0.45%
• YTD: 11.42%
• 6M: 10.51%
• 1Y: 11.39%
• 3Y*: 9.79%
• 5Y*: 3.06%
• 10Y*: 5.71%

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

TILIX vs. DFREX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TILIX TIAA-CREF Large-Cap Growth Index Fund	8.58%	18.41%	33.31%	42.64%	-29.22%	27.63%	38.43%	36.30%	-1.66%	28.49%
DFREX DFA Real Estate Securities Portfolio Class I	11.42%	1.52%	5.52%	11.20%	-24.93%	41.88%	-5.03%	28.12%	-3.01%	4.25%

Correlation

The correlation between TILIX and DFREX is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (10Y) Calculated over the trailing 10-year period	0.45
Correlation (All Time) Calculated using the full available price history since Oct 1, 2002	0.57

Over the past year, the correlation between TILIX and DFREX has dropped to 0.11 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.

Return for Risk

TILIX vs. DFREX — Risk / Return Rank

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

TILIX

TILIX Risk / Return Rank: 31
TILIX Sharpe Ratio Rank: 40
TILIX Sortino Ratio Rank: 36
TILIX Omega Ratio Rank: 37
TILIX Calmar Ratio Rank: 22
TILIX Martin Ratio Rank: 23

DFREX

DFREX Risk / Return Rank: 12
DFREX Sharpe Ratio Rank: 11
DFREX Sortino Ratio Rank: 10
DFREX Omega Ratio Rank: 10
DFREX Calmar Ratio Rank: 14
DFREX Martin Ratio Rank: 14

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.

TILIX vs. DFREX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Large-Cap Growth Index Fund (TILIX) and DFA Real Estate Securities Portfolio Class I (DFREX). 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.

	TILIX	DFREX	Difference
Sharpe ratio: Return per unit of total volatility	1.84	0.85	+1.00
Sortino ratio: Return per unit of downside risk	2.50	1.21	+1.28
Omega ratio: Gain probability vs. loss probability	1.32	1.15	+0.17
Calmar ratio: Return relative to maximum drawdown	1.75	1.32	+0.43
Martin ratio: Return relative to average drawdown	5.84	4.10	+1.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TILIX vs. DFREX - Sharpe Ratio Comparison

The current TILIX Sharpe Ratio is 1.84, which is higher than the DFREX Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of TILIX and DFREX, 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

	TILIX	DFREX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	0.85	+1.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.17	+0.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.89	0.28	+0.60
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.37	+0.24

Drawdowns

TILIX vs. DFREX - Drawdown Comparison

The maximum TILIX drawdown since its inception was -50.54%, smaller than the maximum DFREX drawdown of -74.36%. Use the drawdown chart below to compare losses from any high point for TILIX and DFREX.

Drawdown Indicators

	TILIX	DFREX	Difference
Max Drawdown Largest peak-to-trough decline	-50.54%	-74.36%	+23.82%
Max Drawdown (1Y) Largest decline over 1 year	-16.24%	-8.40%	-7.84%
Max Drawdown (3Y) Largest decline over 3 years	-23.33%	-17.64%	-5.69%
Max Drawdown (5Y) Largest decline over 5 years	-32.68%	-33.11%	+0.43%
Max Drawdown (10Y) Largest decline over 10 years	-32.68%	-41.49%	+8.81%
Current Drawdown Current decline from peak	-0.37%	-2.91%	+2.54%
Average Drawdown Average peak-to-trough decline	-7.73%	-11.34%	+3.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.84%	2.69%	+2.15%

Volatility

TILIX vs. DFREX - Volatility Comparison

The current volatility for TIAA-CREF Large-Cap Growth Index Fund (TILIX) is 3.32%, while DFA Real Estate Securities Portfolio Class I (DFREX) has a volatility of 3.79%. This indicates that TILIX experiences smaller price fluctuations and is considered to be less risky than DFREX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TILIX	DFREX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.32%	3.79%	-0.47%
Volatility (6M) Calculated over the trailing 6-month period	11.60%	9.51%	+2.09%
Volatility (1Y) Calculated over the trailing 1-year period	15.42%	13.07%	+2.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.47%	18.69%	+2.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.09%	20.30%	+0.79%

TILIX vs. DFREX - Expense Ratio Comparison

TILIX has a 0.05% expense ratio, which is lower than DFREX's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

TILIX vs. DFREX - Dividend Comparison

TILIX's dividend yield for the trailing twelve months is around 4.06%, more than DFREX's 2.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFREX DFA Real Estate Securities Portfolio Class I	2.60%	2.84%	2.97%	3.59%	6.24%	2.56%	3.36%	2.23%	4.88%	1.89%	2.83%	2.86%
TILIX TIAA-CREF Large-Cap Growth Index Fund	4.06%	4.41%	3.25%	1.90%	11.00%	8.76%	1.91%	2.38%	4.01%	0.68%	1.33%	1.32%

Frequently Asked Questions

Can I hold both TILIX and DFREX in my portfolio?

TILIX and DFREX have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TILIX or DFREX?

DFREX has higher volatility (3.79%) compared to TILIX (3.32%). In terms of maximum drawdown, TILIX dropped -50.54% vs DFREX's -74.36%.

Which has better risk-adjusted returns?

TILIX currently has the higher Sharpe Ratio (1.84 vs 0.85), 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.