TISEX vs. ^GSPC

Last updated Apr 1, 2026

Compare and contrast key facts about TIAA-CREF Quant Small-Cap Equity Fund (TISEX) and S&P 500 Index (^GSPC).

TISEX is managed by TIAA Investments. It was launched on Oct 1, 2002.

Performance

TISEX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TIAA-CREF Quant Small-Cap Equity Fund (TISEX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

TISEX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TISEX TIAA-CREF Quant Small-Cap Equity Fund	-1.99%	16.31%	16.29%	18.72%	-15.49%	25.00%	12.81%	23.94%	-12.33%	14.07%
^GSPC S&P 500 Index	-4.63%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, TISEX achieves a -1.99% return, which is significantly higher than ^GSPC's -4.63% return. Over the past 10 years, TISEX has underperformed ^GSPC with an annualized return of 11.05%, while ^GSPC has yielded a comparatively higher 12.16% annualized return.

TISEX

• 1D: -1.69%
• 1M: -7.23%
• YTD: -1.99%
• 6M: 2.00%
• 1Y: 24.74%
• 3Y*: 15.17%
• 5Y*: 7.44%
• 10Y*: 11.05%

^GSPC

• 1D: 2.91%
• 1M: -5.09%
• YTD: -4.63%
• 6M: -2.39%
• 1Y: 16.33%
• 3Y*: 16.69%
• 5Y*: 10.18%
• 10Y*: 12.16%

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

Return for Risk

TISEX vs. ^GSPC — Risk / Return Rank

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

TISEX

TISEX Risk / Return Rank: 61
TISEX Sharpe Ratio Rank: 60
TISEX Sortino Ratio Rank: 62
TISEX Omega Ratio Rank: 52
TISEX Calmar Ratio Rank: 65
TISEX Martin Ratio Rank: 66

^GSPC

^GSPC Risk / Return Rank: 74
^GSPC Sharpe Ratio Rank: 69
^GSPC Sortino Ratio Rank: 68
^GSPC Omega Ratio Rank: 76
^GSPC Calmar Ratio Rank: 73
^GSPC Martin Ratio Rank: 85

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.

TISEX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Quant Small-Cap Equity Fund (TISEX) and S&P 500 Index (^GSPC). 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.

	TISEX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	1.07	0.90	+0.18
Sortino ratio Return per unit of downside risk	1.57	1.39	+0.19
Omega ratio Gain probability vs. loss probability	1.21	1.21	0.00
Calmar ratio Return relative to maximum drawdown	1.49	1.40	+0.09
Martin ratio Return relative to average drawdown	6.32	6.61	-0.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TISEX vs. ^GSPC - Sharpe Ratio Comparison

The current TISEX Sharpe Ratio is 1.07, which is comparable to the ^GSPC Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of TISEX and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TISEX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.07	0.90	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.61	-0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.68	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.46	-0.01

Correlation

The correlation between TISEX and ^GSPC is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

TISEX vs. ^GSPC - Drawdown Comparison

The maximum TISEX drawdown since its inception was -59.91%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for TISEX and ^GSPC.

Drawdown Indicators

	TISEX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-59.91%	-56.78%	-3.13%
Max Drawdown (1Y) Largest decline over 1 year	-13.58%	-12.14%	-1.44%
Max Drawdown (5Y) Largest decline over 5 years	-27.92%	-25.43%	-2.49%
Max Drawdown (10Y) Largest decline over 10 years	-45.76%	-33.92%	-11.84%
Current Drawdown Current decline from peak	-9.20%	-6.45%	-2.75%
Average Drawdown Average peak-to-trough decline	-9.42%	-10.75%	+1.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	2.57%	+0.75%

Volatility

TISEX vs. ^GSPC - Volatility Comparison

TIAA-CREF Quant Small-Cap Equity Fund (TISEX) has a higher volatility of 6.65% compared to S&P 500 Index (^GSPC) at 5.34%. This indicates that TISEX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TISEX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.65%	5.34%	+1.31%
Volatility (6M) Calculated over the trailing 6-month period	14.31%	9.54%	+4.77%
Volatility (1Y) Calculated over the trailing 1-year period	22.79%	18.33%	+4.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.08%	16.91%	+5.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.33%	18.05%	+5.28%