TIMIX vs. ASFYX

Last updated Aug 1, 2026

TIMIX (TIAA-CREF Managed Allocation Fund) and ASFYX (Virtus AlphaSimplex Managed Futures Strategy Fund Class I) are both mutual funds - TIMIX is a Diversified Portfolio fund managed by BlackRock, while ASFYX is a Systematic Trend fund actively managed by Virtus. Over the past 10 years, TIMIX returned 7.90%/yr vs 2.08%/yr for ASFYX. Their 0.22 correlation means their historical movements had little consistent relationship. TIMIX charges 0.00%/yr vs 1.45%/yr for ASFYX.

Performance

TIMIX vs. ASFYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TIAA-CREF Managed Allocation Fund (TIMIX) and Virtus AlphaSimplex Managed Futures Strategy Fund Class I (ASFYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TIMIX achieves a 4.93% return, which is significantly lower than ASFYX's 9.56% return. Over the past 10 years, TIMIX has outperformed ASFYX with an annualized return of 7.90%, while ASFYX has yielded a comparatively lower 2.08% annualized return.

TIMIX

• 1D: 1.47%
• 1M: -0.58%
• 6M: 3.06%
• YTD: 4.93%
• 1Y: 12.77%
• 3Y*: 11.40%
• 5Y*: 5.51%
• 10Y*: 7.90%
• ALL TIME*: 6.59%

ASFYX

• 1D: -0.35%
• 1M: 1.07%
• 6M: 5.34%
• YTD: 9.56%
• 1Y: 21.27%
• 3Y*: -3.32%
• 5Y*: 2.26%
• 10Y*: 2.08%
• ALL TIME*: 3.84%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ASFYX Virtus AlphaSimplex Managed Futures Strategy Fund Class I	$0.00	$0.00	$0.00
TIMIX TIAA-CREF Managed Allocation Fund	$0.00	$0.00	$0.00

TIMIX vs. ASFYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TIMIX TIAA-CREF Managed Allocation Fund	4.93%	14.98%	10.47%	16.25%	-16.83%	9.96%	15.40%	20.53%	-6.88%	14.97%
ASFYX Virtus AlphaSimplex Managed Futures Strategy Fund Class I	9.56%	-9.67%	-3.22%	-10.33%	35.67%	3.52%	13.59%	8.99%	-12.59%	6.78%

Correlation

The correlation between TIMIX and ASFYX is 0.45, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.45
Correlation (3Y) Balances recent behavior with more history.	0.31
Correlation (5Y) Shows whether the relationship held over a longer period.	0.09
Correlation (10Y) Provides a long-term view across more market conditions.	0.20
Correlation (All Time) Calculated using the full available price history since Aug 3, 2010	0.22

Over the past year, TIMIX and ASFYX have become more correlated (0.45) than their long-term average of 0.22, meaning their price movements have been converging.

Return for Risk

TIMIX vs. ASFYX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TIMIX

TIMIX Risk / Return Rank: 41
TIMIX Sharpe Ratio Rank: 41
TIMIX Sortino Ratio Rank: 42
TIMIX Omega Ratio Rank: 41
TIMIX Calmar Ratio Rank: 35
TIMIX Martin Ratio Rank: 46

ASFYX

ASFYX Risk / Return Rank: 66
ASFYX Sharpe Ratio Rank: 67
ASFYX Sortino Ratio Rank: 61
ASFYX Omega Ratio Rank: 60
ASFYX Calmar Ratio Rank: 81
ASFYX Martin Ratio Rank: 60

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TIMIX vs. ASFYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Managed Allocation Fund (TIMIX) and Virtus AlphaSimplex Managed Futures Strategy Fund Class I (ASFYX). 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.

	TIMIX	ASFYX	Difference
Sharpe ratio: Return per unit of total volatility	1.30	1.55	-0.25
Sortino ratio: Return per unit of downside risk	1.88	2.08	-0.20
Omega ratio: Gain probability vs. loss probability	1.24	1.26	-0.03
Calmar ratio: Return relative to maximum drawdown	1.61	2.63	-1.01
Martin ratio: Return relative to average drawdown	6.95	7.58	-0.63

TIMIX vs. ASFYX - Sharpe Ratio Comparison

The current TIMIX Sharpe Ratio is 1.30, which is comparable to the ASFYX Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of TIMIX and ASFYX, 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

TIMIX vs. ASFYX - Drawdown Comparison

The maximum TIMIX drawdown since its inception was -41.37%, which is greater than ASFYX's maximum drawdown of -36.43%. Use the drawdown chart below to compare losses from any high point for TIMIX and ASFYX.

Drawdown Indicators

	TIMIX	ASFYX	Difference
Max Drawdown Largest peak-to-trough decline	-41.37%	-36.43%	-4.94%
Max Drawdown (1Y) Largest decline over 1 year	-7.45%	-7.42%	-0.03%
Max Drawdown (3Y) Largest decline over 3 years	-10.44%	-30.32%	+19.88%
Max Drawdown (5Y) Largest decline over 5 years	-23.58%	-36.43%	+12.85%
Max Drawdown (10Y) Largest decline over 10 years	-24.64%	-36.43%	+11.79%
Current Drawdown Current decline from peak	-1.29%	-22.26%	+20.97%
Average Drawdown Average peak-to-trough decline	-5.43%	-13.26%	+7.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	2.57%	-0.85%

Volatility

TIMIX vs. ASFYX - Volatility Comparison

TIAA-CREF Managed Allocation Fund (TIMIX) and Virtus AlphaSimplex Managed Futures Strategy Fund Class I (ASFYX) have volatilities of 2.82% and 2.89%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TIMIX	ASFYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.82%	2.89%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	7.78%	9.77%	-1.99%
Volatility (1Y) Calculated over the trailing 1-year period	9.26%	12.62%	-3.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.56%	13.79%	-3.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.87%	12.74%	-1.87%

TIMIX vs. ASFYX - Expense Ratio Comparison

TIMIX has a 0.00% expense ratio, which is lower than ASFYX's 1.45% expense ratio.

Dividends

TIMIX vs. ASFYX - Dividend Comparison

TIMIX's dividend yield for the trailing twelve months is around 6.61%, more than ASFYX's 1.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASFYX Virtus AlphaSimplex Managed Futures Strategy Fund Class I	1.39%	1.52%	1.46%	0.99%	32.48%	6.07%	3.40%	5.51%	1.30%	0.07%	0.01%	5.06%
TIMIX TIAA-CREF Managed Allocation Fund	6.61%	7.33%	4.43%	2.78%	7.92%	11.50%	8.51%	5.66%	6.31%	2.56%	4.92%	4.80%

Frequently Asked Questions

Can I hold both TIMIX and ASFYX in my portfolio?

TIMIX and ASFYX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TIMIX or ASFYX?

ASFYX has higher volatility (2.89%) compared to TIMIX (2.82%). In terms of maximum drawdown, TIMIX dropped -41.37% vs ASFYX's -36.43%.

Which has better risk-adjusted returns?

ASFYX currently has the higher Sharpe Ratio (1.55 vs 1.30), 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.