TIOIX vs. IVFIX
TIOIX (TIAA-CREF International Opportunities Fund) and IVFIX (Federated Hermes International Strategic Value Dividend Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, TIOIX returned 9.62%/yr vs 7.34%/yr for IVFIX. A 0.69 correlation means they provide meaningful diversification when combined. TIOIX charges 0.61%/yr vs 0.86%/yr for IVFIX.
Performance
TIOIX vs. IVFIX - Performance Comparison
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Returns By Period
In the year-to-date period, TIOIX achieves a 10.76% return, which is significantly higher than IVFIX's 5.96% return. Over the past 10 years, TIOIX has outperformed IVFIX with an annualized return of 9.62%, while IVFIX has yielded a comparatively lower 7.34% annualized return.
TIOIX
- 1D
- -0.05%
- 1M
- 5.23%
- YTD
- 10.76%
- 6M
- 10.43%
- 1Y
- 22.52%
- 3Y*
- 12.07%
- 5Y*
- 2.28%
- 10Y*
- 9.62%
IVFIX
- 1D
- 0.16%
- 1M
- -2.50%
- YTD
- 5.96%
- 6M
- 6.20%
- 1Y
- 15.78%
- 3Y*
- 13.84%
- 5Y*
- 9.20%
- 10Y*
- 7.34%
TIOIX vs. IVFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TIOIX TIAA-CREF International Opportunities Fund | 10.76% | 20.35% | 0.72% | 15.43% | -24.44% | 3.30% | 32.67% | 30.33% | -17.31% | 35.21% |
IVFIX Federated Hermes International Strategic Value Dividend Fund | 5.96% | 31.79% | 1.91% | 11.05% | -2.54% | 11.58% | -1.74% | 20.15% | -11.96% | 14.63% |
Correlation
The correlation between TIOIX and IVFIX is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014 | 0.69 |
Over the past year, the correlation between TIOIX and IVFIX has dropped to 0.40 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.
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Return for Risk
TIOIX vs. IVFIX — Risk / Return Rank
TIOIX
IVFIX
TIOIX vs. IVFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF International Opportunities Fund (TIOIX) and Federated Hermes International Strategic Value Dividend Fund (IVFIX). 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.
| TIOIX | IVFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.31 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.71 | 2.90 | -1.19 |
| Martin ratioReturn relative to average drawdown | 6.34 | 7.05 | -0.71 |
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Drawdowns
TIOIX vs. IVFIX - Drawdown Comparison
The maximum TIOIX drawdown since its inception was -38.26%, smaller than the maximum IVFIX drawdown of -51.49%. Use the drawdown chart below to compare losses from any high point for TIOIX and IVFIX.
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Drawdown Indicators
| TIOIX | IVFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.26% | -51.49% | +13.23% |
Max Drawdown (1Y)Largest decline over 1 year | -13.71% | -6.97% | -6.74% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -10.75% | -5.74% |
Max Drawdown (5Y)Largest decline over 5 years | -38.26% | -21.29% | -16.97% |
Max Drawdown (10Y)Largest decline over 10 years | -38.26% | -33.46% | -4.80% |
Current DrawdownCurrent decline from peak | -0.05% | -5.92% | +5.87% |
Average DrawdownAverage peak-to-trough decline | -11.11% | -11.60% | +0.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.69% | 2.65% | +1.04% |
Volatility
TIOIX vs. IVFIX - Volatility Comparison
TIAA-CREF International Opportunities Fund (TIOIX) has a higher volatility of 7.89% compared to Federated Hermes International Strategic Value Dividend Fund (IVFIX) at 3.00%. This indicates that TIOIX's price experiences larger fluctuations and is considered to be riskier than IVFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIOIX | IVFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.89% | 3.00% | +4.89% |
Volatility (6M)Calculated over the trailing 6-month period | 16.03% | 9.38% | +6.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.52% | 12.02% | +6.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.48% | 13.13% | +5.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.60% | 14.73% | +3.87% |
TIOIX vs. IVFIX - Expense Ratio Comparison
TIOIX has a 0.61% expense ratio, which is lower than IVFIX's 0.86% expense ratio.
Dividends
TIOIX vs. IVFIX - Dividend Comparison
TIOIX's dividend yield for the trailing twelve months is around 6.08%, more than IVFIX's 3.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVFIX Federated Hermes International Strategic Value Dividend Fund | 3.75% | 3.37% | 4.44% | 4.01% | 3.99% | 3.67% | 3.62% | 3.98% | 4.97% | 4.17% | 3.38% | 3.95% |
TIOIX TIAA-CREF International Opportunities Fund | 6.08% | 6.74% | 1.49% | 1.21% | 1.25% | 8.14% | 2.51% | 1.02% | 1.39% | 1.18% | 1.31% | 1.25% |
Frequently Asked Questions
TIOIX and IVFIX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TIOIX has higher volatility (7.89%) compared to IVFIX (3.00%). In terms of maximum drawdown, TIOIX dropped -38.26% vs IVFIX's -51.49%.
IVFIX currently has the higher Sharpe Ratio (1.69 vs 1.27), 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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