TIREX vs. TSDJX

Last updated Aug 4, 2026

TIREX (TIAA-CREF Real Estate Securities Fund Institutional Class) and TSDJX (TIAA-CREF Short Duration Impact Bond Fund) are both mutual funds - TIREX is a REIT fund managed by TIAA, while TSDJX is a Short-Term Bond fund managed by TIAA. Over the past 5 years, TIREX returned 1.98%/yr vs 2.28%/yr for TSDJX. Their 0.17 correlation means their historical movements had little consistent relationship. TIREX charges 0.47%/yr vs 0.35%/yr for TSDJX.

Performance

TIREX vs. TSDJX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TIAA-CREF Real Estate Securities Fund Institutional Class (TIREX) and TIAA-CREF Short Duration Impact Bond Fund (TSDJX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TIREX achieves a 15.22% return, which is significantly higher than TSDJX's 0.78% return.

TIREX

• 1D: -0.59%
• 1M: 0.95%
• 6M: 14.51%
• YTD: 15.22%
• 1Y: 18.41%
• 3Y*: 9.55%
• 5Y*: 1.98%
• 10Y*: 6.24%
• ALL TIME*: 9.18%

TSDJX

• 1D: -0.10%
• 1M: -0.31%
• 6M: 0.56%
• YTD: 0.78%
• 1Y: 2.85%
• 3Y*: 5.00%
• 5Y*: 2.28%
• 10Y*: —
• ALL TIME*: 2.88%

*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)
TIREX TIAA-CREF Real Estate Securities Fund Institutional Class	$0.00	$0.00	$0.00
TSDJX TIAA-CREF Short Duration Impact Bond Fund	$0.00	$0.00	$0.00

TIREX vs. TSDJX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TIREX TIAA-CREF Real Estate Securities Fund Institutional Class	15.22%	2.10%	5.30%	12.16%	-28.74%	39.39%	1.29%	31.09%	-5.27%
TSDJX TIAA-CREF Short Duration Impact Bond Fund	0.78%	5.93%	5.24%	4.49%	-4.16%	0.22%	4.59%	5.25%	0.27%

Correlation

The correlation between TIREX and TSDJX is 0.20, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.20
Correlation (3Y) Balances recent behavior with more history.	0.28
Correlation (5Y) Shows whether the relationship held over a longer period.	0.22
Correlation (All Time) Calculated using the full available price history since Nov 16, 2018	0.17

The correlation between TIREX and TSDJX shifts across timeframes, from 0.17 (all time) to 0.28 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

TIREX vs. TSDJX — Risk / Return Rank

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

TIREX

TIREX Risk / Return Rank: 46
TIREX Sharpe Ratio Rank: 42
TIREX Sortino Ratio Rank: 41
TIREX Omega Ratio Rank: 39
TIREX Calmar Ratio Rank: 56
TIREX Martin Ratio Rank: 53

TSDJX

TSDJX Risk / Return Rank: 86
TSDJX Sharpe Ratio Rank: 77
TSDJX Sortino Ratio Rank: 91
TSDJX Omega Ratio Rank: 87
TSDJX Calmar Ratio Rank: 87
TSDJX Martin Ratio Rank: 90

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.

TIREX vs. TSDJX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Real Estate Securities Fund Institutional Class (TIREX) and TIAA-CREF Short Duration Impact Bond Fund (TSDJX). 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.

	TIREX	TSDJX	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.85	-0.51
Sortino ratio: Return per unit of downside risk	1.90	3.45	-1.55
Omega ratio: Gain probability vs. loss probability	1.24	1.44	-0.20
Calmar ratio: Return relative to maximum drawdown	2.12	3.23	-1.11
Martin ratio: Return relative to average drawdown	7.66	12.75	-5.10

TIREX vs. TSDJX - Sharpe Ratio Comparison

The current TIREX Sharpe Ratio is 1.34, which is comparable to the TSDJX Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of TIREX and TSDJX, 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

TIREX vs. TSDJX - Drawdown Comparison

The maximum TIREX drawdown since its inception was -74.18%, which is greater than TSDJX's maximum drawdown of -6.31%. Use the drawdown chart below to compare losses from any high point for TIREX and TSDJX.

Drawdown Indicators

	TIREX	TSDJX	Difference
Max Drawdown Largest peak-to-trough decline	-74.18%	-6.31%	-67.87%
Max Drawdown (1Y) Largest decline over 1 year	-8.55%	-1.02%	-7.53%
Max Drawdown (3Y) Largest decline over 3 years	-17.95%	-1.02%	-16.93%
Max Drawdown (5Y) Largest decline over 5 years	-35.67%	-5.96%	-29.71%
Max Drawdown (10Y) Largest decline over 10 years	-39.26%	—	—
Current Drawdown Current decline from peak	-2.69%	-0.41%	-2.28%
Average Drawdown Average peak-to-trough decline	-13.41%	-1.12%	-12.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	0.26%	+2.11%

Volatility

TIREX vs. TSDJX - Volatility Comparison

TIAA-CREF Real Estate Securities Fund Institutional Class (TIREX) has a higher volatility of 4.42% compared to TIAA-CREF Short Duration Impact Bond Fund (TSDJX) at 0.38%. This indicates that TIREX's price experiences larger fluctuations and is considered to be riskier than TSDJX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TIREX	TSDJX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.42%	0.38%	+4.04%
Volatility (6M) Calculated over the trailing 6-month period	10.80%	1.30%	+9.50%
Volatility (1Y) Calculated over the trailing 1-year period	13.64%	1.83%	+11.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.89%	2.16%	+16.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.19%	2.15%	+18.04%

TIREX vs. TSDJX - Expense Ratio Comparison

TIREX has a 0.47% expense ratio, which is higher than TSDJX's 0.35% expense ratio.

Dividends

TIREX vs. TSDJX - Dividend Comparison

TIREX's dividend yield for the trailing twelve months is around 2.38%, less than TSDJX's 3.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TIREX TIAA-CREF Real Estate Securities Fund Institutional Class	2.38%	3.56%	3.08%	2.71%	5.13%	3.07%	1.80%	6.18%	3.54%	7.20%	4.16%	5.65%
TSDJX TIAA-CREF Short Duration Impact Bond Fund	3.66%	4.39%	4.67%	3.41%	2.00%	2.00%	3.00%	3.63%	0.37%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TIREX and TSDJX in my portfolio?

TIREX and TSDJX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TIREX or TSDJX?

TIREX has higher volatility (4.42%) compared to TSDJX (0.38%). In terms of maximum drawdown, TIREX dropped -74.18% vs TSDJX's -6.31%.

Which has better risk-adjusted returns?

TSDJX currently has the higher Sharpe Ratio (1.85 vs 1.33), 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.