TITIX vs. FGNSX

Last updated Jun 23, 2026

TITIX (TIAA-CREF 5-15 Year Laddered Tax-Exempt Bond Fund) and FGNSX (Strategic Advisers Tax-Sensitive Short Duration Fund) are both Municipal Bonds funds. Over the past 5 years, TITIX returned 0.49%/yr vs 2.09%/yr for FGNSX. At a 0.46 correlation, their price movements are largely independent. TITIX charges 0.30%/yr vs 0.07%/yr for FGNSX.

Performance

TITIX vs. FGNSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TIAA-CREF 5-15 Year Laddered Tax-Exempt Bond Fund (TITIX) and Strategic Advisers Tax-Sensitive Short Duration Fund (FGNSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TITIX achieves a 0.98% return, which is significantly higher than FGNSX's 0.77% return.

TITIX

• 1D: 0.00%
• 1M: 1.31%
• YTD: 0.98%
• 6M: 1.46%
• 1Y: 6.08%
• 3Y*: 3.56%
• 5Y*: 0.49%
• 10Y*: 1.86%

FGNSX

• 1D: 0.00%
• 1M: 0.45%
• YTD: 0.77%
• 6M: 1.05%
• 1Y: 2.58%
• 3Y*: 3.21%
• 5Y*: 2.09%
• 10Y*: —

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

TITIX vs. FGNSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TITIX TIAA-CREF 5-15 Year Laddered Tax-Exempt Bond Fund	0.98%	5.06%	0.81%	5.84%	-9.42%	1.31%	4.31%	8.42%	1.43%	0.29%
FGNSX Strategic Advisers Tax-Sensitive Short Duration Fund	0.77%	3.08%	3.47%	3.56%	-0.36%	0.14%	1.04%	2.11%	1.47%	-0.10%

Correlation

The correlation between TITIX and FGNSX is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.39
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (All Time) Calculated using the full available price history since Dec 28, 2017	0.46

The correlation between TITIX and FGNSX shifts across timeframes, from 0.39 (1 year) to 0.50 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

TITIX vs. FGNSX — Risk / Return Rank

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

TITIX

TITIX Risk / Return Rank: 66
TITIX Sharpe Ratio Rank: 84
TITIX Sortino Ratio Rank: 89
TITIX Omega Ratio Rank: 92
TITIX Calmar Ratio Rank: 33
TITIX Martin Ratio Rank: 30

FGNSX

FGNSX Risk / Return Rank: 97
FGNSX Sharpe Ratio Rank: 94
FGNSX Sortino Ratio Rank: 98
FGNSX Omega Ratio Rank: 99
FGNSX Calmar Ratio Rank: 97
FGNSX Martin Ratio Rank: 98

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.

TITIX vs. FGNSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF 5-15 Year Laddered Tax-Exempt Bond Fund (TITIX) and Strategic Advisers Tax-Sensitive Short Duration Fund (FGNSX). 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.

	TITIX	FGNSX	Difference
Sharpe ratio: Return per unit of total volatility	2.53	2.99	-0.46
Sortino ratio: Return per unit of downside risk	4.01	7.45	-3.44
Omega ratio: Gain probability vs. loss probability	1.66	2.83	-1.17
Calmar ratio: Return relative to maximum drawdown	2.04	6.15	-4.11
Martin ratio: Return relative to average drawdown	6.45	27.67	-21.21

TITIX vs. FGNSX - Sharpe Ratio Comparison

The current TITIX Sharpe Ratio is 2.53, which is comparable to the FGNSX Sharpe Ratio of 2.99. The chart below compares the historical Sharpe Ratios of TITIX and FGNSX, 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

TITIX vs. FGNSX - Drawdown Comparison

The maximum TITIX drawdown since its inception was -14.71%, which is greater than FGNSX's maximum drawdown of -2.35%. Use the drawdown chart below to compare losses from any high point for TITIX and FGNSX.

Drawdown Indicators

	TITIX	FGNSX	Difference
Max Drawdown Largest peak-to-trough decline	-14.71%	-2.35%	-12.36%
Max Drawdown (1Y) Largest decline over 1 year	-3.01%	-0.50%	-2.51%
Max Drawdown (3Y) Largest decline over 3 years	-4.82%	-2.35%	-2.47%
Max Drawdown (5Y) Largest decline over 5 years	-14.71%	-2.35%	-12.36%
Max Drawdown (10Y) Largest decline over 10 years	-14.71%	—	—
Current Drawdown Current decline from peak	-0.89%	0.00%	-0.89%
Average Drawdown Average peak-to-trough decline	-2.45%	-0.25%	-2.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	0.11%	+0.84%

Volatility

TITIX vs. FGNSX - Volatility Comparison

TIAA-CREF 5-15 Year Laddered Tax-Exempt Bond Fund (TITIX) has a higher volatility of 0.61% compared to Strategic Advisers Tax-Sensitive Short Duration Fund (FGNSX) at 0.28%. This indicates that TITIX's price experiences larger fluctuations and is considered to be riskier than FGNSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TITIX	FGNSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.61%	0.28%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	1.83%	0.65%	+1.18%
Volatility (1Y) Calculated over the trailing 1-year period	2.42%	1.02%	+1.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.54%	2.06%	+1.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.82%	1.65%	+2.17%

TITIX vs. FGNSX - Expense Ratio Comparison

TITIX has a 0.30% expense ratio, which is higher than FGNSX's 0.07% expense ratio.

Dividends

TITIX vs. FGNSX - Dividend Comparison

TITIX's dividend yield for the trailing twelve months is around 3.30%, more than FGNSX's 2.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGNSX Strategic Advisers Tax-Sensitive Short Duration Fund	2.34%	2.63%	3.31%	2.57%	0.84%	0.34%	0.83%	1.79%	1.36%	0.00%	0.00%	0.00%
TITIX TIAA-CREF 5-15 Year Laddered Tax-Exempt Bond Fund	3.30%	3.54%	3.17%	2.24%	2.08%	2.80%	2.53%	3.22%	2.46%	2.27%	3.94%	4.54%

Frequently Asked Questions

Can I hold both TITIX and FGNSX in my portfolio?

TITIX and FGNSX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TITIX or FGNSX?

TITIX has higher volatility (0.61%) compared to FGNSX (0.28%). In terms of maximum drawdown, TITIX dropped -14.71% vs FGNSX's -2.35%.

Which has better risk-adjusted returns?

FGNSX currently has the higher Sharpe Ratio (2.99 vs 2.53), 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.