TILVX vs. FNDX

Last updated Jun 23, 2026

TILVX (TIAA-CREF Large-Cap Value Index Fund) and FNDX (Schwab Fundamental U.S. Large Company Index ETF) are both Large Cap Value Equities funds. Over the past 10 years, TILVX returned 11.29%/yr vs 14.53%/yr for FNDX. With a 0.97 correlation, they move nearly in lockstep. TILVX charges 0.05%/yr vs 0.25%/yr for FNDX.

Performance

TILVX vs. FNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TIAA-CREF Large-Cap Value Index Fund (TILVX) and Schwab Fundamental U.S. Large Company Index ETF (FNDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TILVX achieves a 16.01% return, which is significantly higher than FNDX's 14.79% return. Over the past 10 years, TILVX has underperformed FNDX with an annualized return of 11.29%, while FNDX has yielded a comparatively higher 14.53% annualized return.

TILVX

• 1D: 0.74%
• 1M: 2.82%
• YTD: 16.01%
• 6M: 15.31%
• 1Y: 29.98%
• 3Y*: 17.96%
• 5Y*: 11.69%
• 10Y*: 11.29%

FNDX

• 1D: 0.19%
• 1M: 0.94%
• YTD: 14.79%
• 6M: 14.33%
• 1Y: 31.80%
• 3Y*: 20.50%
• 5Y*: 13.48%
• 10Y*: 14.53%

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

TILVX vs. FNDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TILVX TIAA-CREF Large-Cap Value Index Fund	16.01%	15.81%	14.26%	11.49%	-7.57%	25.05%	2.90%	26.48%	-8.38%	10.93%
FNDX Schwab Fundamental U.S. Large Company Index ETF	14.79%	16.94%	16.77%	18.23%	-6.92%	31.73%	9.12%	28.65%	-7.30%	17.12%

Correlation

The correlation between TILVX and FNDX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Aug 15, 2013	0.97

The correlation between TILVX and FNDX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

Return for Risk

TILVX vs. FNDX — Risk / Return Rank

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

TILVX

TILVX Risk / Return Rank: 88
TILVX Sharpe Ratio Rank: 89
TILVX Sortino Ratio Rank: 86
TILVX Omega Ratio Rank: 81
TILVX Calmar Ratio Rank: 91
TILVX Martin Ratio Rank: 94

FNDX

FNDX Risk / Return Rank: 91
FNDX Sharpe Ratio Rank: 92
FNDX Sortino Ratio Rank: 92
FNDX Omega Ratio Rank: 90
FNDX Calmar Ratio Rank: 90
FNDX Martin Ratio Rank: 91

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.

TILVX vs. FNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Large-Cap Value Index Fund (TILVX) and Schwab Fundamental U.S. Large Company Index ETF (FNDX). 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.

	TILVX	FNDX	Difference
Sharpe ratio: Return per unit of total volatility	2.71	3.06	-0.35
Sortino ratio: Return per unit of downside risk	3.78	4.22	-0.44
Omega ratio: Gain probability vs. loss probability	1.49	1.56	-0.07
Calmar ratio: Return relative to maximum drawdown	4.49	5.27	-0.78
Martin ratio: Return relative to average drawdown	18.63	20.40	-1.77

TILVX vs. FNDX - Sharpe Ratio Comparison

The current TILVX Sharpe Ratio is 2.71, which is comparable to the FNDX Sharpe Ratio of 3.06. The chart below compares the historical Sharpe Ratios of TILVX and FNDX, 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

TILVX vs. FNDX - Drawdown Comparison

The maximum TILVX drawdown since its inception was -60.05%, which is greater than FNDX's maximum drawdown of -37.72%. Use the drawdown chart below to compare losses from any high point for TILVX and FNDX.

Drawdown Indicators

	TILVX	FNDX	Difference
Max Drawdown Largest peak-to-trough decline	-60.05%	-37.72%	-22.33%
Max Drawdown (1Y) Largest decline over 1 year	-6.80%	-6.06%	-0.74%
Max Drawdown (3Y) Largest decline over 3 years	-15.58%	-16.30%	+0.72%
Max Drawdown (5Y) Largest decline over 5 years	-19.00%	-19.06%	+0.06%
Max Drawdown (10Y) Largest decline over 10 years	-40.15%	-37.72%	-2.43%
Current Drawdown Current decline from peak	-0.64%	-1.02%	+0.38%
Average Drawdown Average peak-to-trough decline	-8.25%	-3.55%	-4.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	1.56%	+0.07%

Volatility

TILVX vs. FNDX - Volatility Comparison

TIAA-CREF Large-Cap Value Index Fund (TILVX) has a higher volatility of 4.01% compared to Schwab Fundamental U.S. Large Company Index ETF (FNDX) at 3.29%. This indicates that TILVX's price experiences larger fluctuations and is considered to be riskier than FNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TILVX	FNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.01%	3.29%	+0.72%
Volatility (6M) Calculated over the trailing 6-month period	8.72%	7.61%	+1.11%
Volatility (1Y) Calculated over the trailing 1-year period	11.27%	10.47%	+0.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.87%	15.18%	-0.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.68%	17.52%	+0.16%

TILVX vs. FNDX - Expense Ratio Comparison

TILVX has a 0.05% expense ratio, which is lower than FNDX's 0.25% 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

TILVX vs. FNDX - Dividend Comparison

TILVX's dividend yield for the trailing twelve months is around 5.14%, more than FNDX's 1.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDX Schwab Fundamental U.S. Large Company Index ETF	1.45%	1.63%	1.76%	1.82%	2.07%	1.64%	2.29%	2.23%	2.40%	1.86%	2.01%	2.01%
TILVX TIAA-CREF Large-Cap Value Index Fund	5.14%	5.96%	3.04%	4.90%	4.57%	3.77%	2.26%	7.05%	4.68%	2.01%	3.14%	4.24%

Frequently Asked Questions

Can I hold both TILVX and FNDX in my portfolio?

With a correlation of 0.96, TILVX and FNDX 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.

Which is riskier, TILVX or FNDX?

TILVX has higher volatility (4.01%) compared to FNDX (3.29%). In terms of maximum drawdown, TILVX dropped -60.05% vs FNDX's -37.72%.

Which has better risk-adjusted returns?

FNDX currently has the higher Sharpe Ratio (3.06 vs 2.71), 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.