TLHIX vs. BND

Last updated Jun 23, 2026

TLHIX (TIAA-CREF Lifecycle Index 2030 Fund) and BND (Vanguard Total Bond Market ETF) are both funds - TLHIX is a Target Retirement Date fund managed by TIAA Investments, while BND is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. Over the past 10 years, TLHIX returned 9.10%/yr vs 1.55%/yr for BND. At a 0.02 correlation, their price movements are largely independent. TLHIX charges 0.10%/yr vs 0.03%/yr for BND.

Performance

TLHIX vs. BND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TIAA-CREF Lifecycle Index 2030 Fund (TLHIX) and Vanguard Total Bond Market ETF (BND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TLHIX achieves a 7.64% return, which is significantly higher than BND's 0.38% return. Over the past 10 years, TLHIX has outperformed BND with an annualized return of 9.10%, while BND has yielded a comparatively lower 1.55% annualized return.

TLHIX

• 1D: 0.84%
• 1M: 1.40%
• YTD: 7.64%
• 6M: 7.60%
• 1Y: 18.71%
• 3Y*: 13.32%
• 5Y*: 7.13%
• 10Y*: 9.10%

BND

• 1D: -0.27%
• 1M: 0.53%
• YTD: 0.38%
• 6M: 0.45%
• 1Y: 4.37%
• 3Y*: 3.92%
• 5Y*: 0.04%
• 10Y*: 1.55%

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

TLHIX vs. BND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TLHIX TIAA-CREF Lifecycle Index 2030 Fund	7.64%	15.76%	10.59%	15.54%	-15.72%	11.65%	14.76%	21.35%	-5.07%	14.88%
BND Vanguard Total Bond Market ETF	0.38%	7.08%	1.38%	5.65%	-13.11%	-1.86%	7.71%	8.84%	-0.12%	3.57%

Correlation

The correlation between TLHIX and BND is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.21
Correlation (All Time) Calculated using the full available price history since Oct 1, 2009	0.02

Over the past year, TLHIX and BND have become more correlated (0.51) than their long-term average of 0.02, meaning their price movements have been converging.

Return for Risk

TLHIX vs. BND — Risk / Return Rank

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

TLHIX

TLHIX Risk / Return Rank: 71
TLHIX Sharpe Ratio Rank: 71
TLHIX Sortino Ratio Rank: 71
TLHIX Omega Ratio Rank: 72
TLHIX Calmar Ratio Rank: 68
TLHIX Martin Ratio Rank: 73

BND

BND Risk / Return Rank: 33
BND Sharpe Ratio Rank: 33
BND Sortino Ratio Rank: 34
BND Omega Ratio Rank: 31
BND Calmar Ratio Rank: 33
BND Martin Ratio Rank: 33

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.

TLHIX vs. BND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Lifecycle Index 2030 Fund (TLHIX) and Vanguard Total Bond Market ETF (BND). 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.

	TLHIX	BND	Difference
Sharpe ratio: Return per unit of total volatility	2.26	1.18	+1.08
Sortino ratio: Return per unit of downside risk	3.19	1.76	+1.44
Omega ratio: Gain probability vs. loss probability	1.43	1.21	+0.22
Calmar ratio: Return relative to maximum drawdown	3.03	1.64	+1.39
Martin ratio: Return relative to average drawdown	13.02	4.69	+8.33

TLHIX vs. BND - Sharpe Ratio Comparison

The current TLHIX Sharpe Ratio is 2.26, which is higher than the BND Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of TLHIX and BND, 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

TLHIX vs. BND - Drawdown Comparison

The maximum TLHIX drawdown since its inception was -23.86%, which is greater than BND's maximum drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for TLHIX and BND.

Drawdown Indicators

	TLHIX	BND	Difference
Max Drawdown Largest peak-to-trough decline	-23.86%	-18.58%	-5.28%
Max Drawdown (1Y) Largest decline over 1 year	-6.15%	-2.68%	-3.47%
Max Drawdown (3Y) Largest decline over 3 years	-9.46%	-5.92%	-3.54%
Max Drawdown (5Y) Largest decline over 5 years	-22.15%	-17.91%	-4.24%
Max Drawdown (10Y) Largest decline over 10 years	-23.86%	-18.58%	-5.28%
Current Drawdown Current decline from peak	-0.28%	-2.26%	+1.98%
Average Drawdown Average peak-to-trough decline	-3.49%	-3.06%	-0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.43%	0.93%	+0.50%

Volatility

TLHIX vs. BND - Volatility Comparison

TIAA-CREF Lifecycle Index 2030 Fund (TLHIX) has a higher volatility of 3.40% compared to Vanguard Total Bond Market ETF (BND) at 1.08%. This indicates that TLHIX's price experiences larger fluctuations and is considered to be riskier than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TLHIX	BND	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.40%	1.08%	+2.32%
Volatility (6M) Calculated over the trailing 6-month period	6.89%	2.77%	+4.12%
Volatility (1Y) Calculated over the trailing 1-year period	8.25%	3.74%	+4.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.33%	6.03%	+4.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.13%	5.54%	+5.59%

TLHIX vs. BND - Expense Ratio Comparison

TLHIX has a 0.10% expense ratio, which is higher than BND's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

TLHIX vs. BND - Dividend Comparison

TLHIX's dividend yield for the trailing twelve months is around 3.90%, less than BND's 3.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BND Vanguard Total Bond Market ETF	3.96%	3.86%	3.67%	3.09%	2.60%	2.12%	2.38%	2.72%	2.81%	2.54%	2.51%	2.57%
TLHIX TIAA-CREF Lifecycle Index 2030 Fund	3.90%	4.20%	3.62%	2.44%	2.82%	3.21%	2.06%	2.25%	2.68%	0.14%	2.49%	0.25%

Frequently Asked Questions

Can I hold both TLHIX and BND in my portfolio?

TLHIX and BND have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TLHIX or BND?

TLHIX has higher volatility (3.40%) compared to BND (1.08%). In terms of maximum drawdown, TLHIX dropped -23.86% vs BND's -18.58%.

Which has better risk-adjusted returns?

TLHIX currently has the higher Sharpe Ratio (2.26 vs 1.18), 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.