TISBX vs. GMRAX
TISBX (TIAA-CREF Small-Cap Blend Index Fund) and GMRAX (Nationwide Small Cap Index Fund) are both Small Cap Blend Equities funds. Over the past 10 years, TISBX returned 10.86%/yr vs 10.44%/yr for GMRAX. With a 0.99 correlation, they move nearly in lockstep. TISBX charges 0.05%/yr vs 0.68%/yr for GMRAX.
Performance
TISBX vs. GMRAX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with TISBX having a 20.74% return and GMRAX slightly lower at 20.34%. Both investments have delivered pretty close results over the past 10 years, with TISBX having a 10.86% annualized return and GMRAX not far behind at 10.44%.
TISBX
- 1D
- -0.48%
- 1M
- 1.27%
- 6M
- 13.70%
- YTD
- 20.74%
- 1Y
- 34.86%
- 3Y*
- 17.51%
- 5Y*
- 7.00%
- 10Y*
- 10.86%
GMRAX
- 1D
- -0.45%
- 1M
- 1.21%
- 6M
- 13.37%
- YTD
- 20.34%
- 1Y
- 34.26%
- 3Y*
- 16.63%
- 5Y*
- 6.30%
- 10Y*
- 10.44%
TISBX vs. GMRAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TISBX TIAA-CREF Small-Cap Blend Index Fund | 20.74% | 12.72% | 11.60% | 17.07% | -20.31% | 14.85% | 20.14% | 25.61% | -10.99% | 13.14% |
GMRAX Nationwide Small Cap Index Fund | 20.34% | 12.26% | 9.12% | 17.56% | -20.82% | 14.27% | 19.59% | 24.87% | -10.71% | 14.21% |
Correlation
The correlation between TISBX and GMRAX is 1.00 - 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 | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Sep 30, 2002 | 0.99 |
The correlation between TISBX and GMRAX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
TISBX vs. GMRAX — Risk / Return Rank
TISBX
GMRAX
TISBX vs. GMRAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Small-Cap Blend Index Fund (TISBX) and Nationwide Small Cap Index Fund (GMRAX). 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.
| TISBX | GMRAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.28 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.05 | 2.96 | +0.09 |
| Martin ratioReturn relative to average drawdown | 10.79 | 10.44 | +0.35 |
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Drawdowns
TISBX vs. GMRAX - Drawdown Comparison
The maximum TISBX drawdown since its inception was -56.50%, roughly equal to the maximum GMRAX drawdown of -59.36%. Use the drawdown chart below to compare losses from any high point for TISBX and GMRAX.
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Drawdown Indicators
| TISBX | GMRAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.50% | -59.36% | +2.86% |
Max Drawdown (1Y)Largest decline over 1 year | -10.95% | -11.06% | +0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -27.44% | -27.67% | +0.23% |
Max Drawdown (5Y)Largest decline over 5 years | -31.89% | -32.00% | +0.11% |
Max Drawdown (10Y)Largest decline over 10 years | -41.69% | -41.78% | +0.09% |
Current DrawdownCurrent decline from peak | -1.48% | -1.53% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -9.65% | -12.55% | +2.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.09% | 3.13% | -0.04% |
Volatility
TISBX vs. GMRAX - Volatility Comparison
TIAA-CREF Small-Cap Blend Index Fund (TISBX) and Nationwide Small Cap Index Fund (GMRAX) have volatilities of 4.86% and 4.90%, 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.
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Volatility by Period
| TISBX | GMRAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.86% | 4.90% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 14.15% | 14.22% | -0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.53% | 19.55% | -0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.60% | 22.68% | -0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.39% | 23.50% | -0.11% |
TISBX vs. GMRAX - Expense Ratio Comparison
TISBX has a 0.05% expense ratio, which is lower than GMRAX's 0.68% expense ratio.
Dividends
TISBX vs. GMRAX - Dividend Comparison
TISBX's dividend yield for the trailing twelve months is around 3.42%, more than GMRAX's 2.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GMRAX Nationwide Small Cap Index Fund | 2.09% | 2.45% | 4.99% | 0.52% | 1.51% | 6.81% | 0.56% | 7.38% | 46.93% | 17.82% | 7.14% | 12.55% |
TISBX TIAA-CREF Small-Cap Blend Index Fund | 3.42% | 4.12% | 6.82% | 3.09% | 1.97% | 8.96% | 2.65% | 5.16% | 9.29% | 4.49% | 4.03% | 4.77% |
Frequently Asked Questions
With a correlation of 1.00, TISBX and GMRAX 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.
GMRAX has higher volatility (4.90%) compared to TISBX (4.86%). In terms of maximum drawdown, TISBX dropped -56.50% vs GMRAX's -59.36%.
TISBX currently has the higher Sharpe Ratio (1.71 vs 1.67), 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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