TLWIX vs. TCIEX
TLWIX (TIAA-CREF Lifecycle Index 2020 Fund) and TCIEX (TIAA-CREF International Equity Index Fund Institutional Class) are both mutual funds - TLWIX is a Target Retirement Date fund managed by TIAA Investments, while TCIEX is a Large Cap Blend Equities fund tracking the MSCI EAFE Index. Over the past 10 years, TLWIX returned 7.42%/yr vs 9.38%/yr for TCIEX. Their correlation of 0.88 suggests significant overlap in exposure. TLWIX charges 0.10%/yr vs 0.05%/yr for TCIEX.
Performance
TLWIX vs. TCIEX - Performance Comparison
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Returns By Period
In the year-to-date period, TLWIX achieves a 6.36% return, which is significantly lower than TCIEX's 9.52% return. Over the past 10 years, TLWIX has underperformed TCIEX with an annualized return of 7.42%, while TCIEX has yielded a comparatively higher 9.38% annualized return.
TLWIX
- 1D
- 0.19%
- 1M
- 2.86%
- YTD
- 6.36%
- 6M
- 6.67%
- 1Y
- 16.07%
- 3Y*
- 11.89%
- 5Y*
- 5.77%
- 10Y*
- 7.42%
TCIEX
- 1D
- 0.33%
- 1M
- 4.10%
- YTD
- 9.52%
- 6M
- 11.87%
- 1Y
- 22.18%
- 3Y*
- 17.07%
- 5Y*
- 8.81%
- 10Y*
- 9.38%
TLWIX vs. TCIEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TLWIX TIAA-CREF Lifecycle Index 2020 Fund | 6.36% | 13.75% | 8.69% | 13.06% | -14.37% | 8.73% | 13.06% | 17.96% | -3.77% | 11.56% |
TCIEX TIAA-CREF International Equity Index Fund Institutional Class | 9.52% | 31.55% | 3.69% | 18.21% | -14.19% | 11.30% | 8.13% | 21.82% | -13.27% | 25.34% |
Correlation
The correlation between TLWIX and TCIEX is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2009 | 0.88 |
The correlation between TLWIX and TCIEX has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.
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Return for Risk
TLWIX vs. TCIEX — Risk / Return Rank
TLWIX
TCIEX
TLWIX vs. TCIEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Lifecycle Index 2020 Fund (TLWIX) and TIAA-CREF International Equity Index Fund Institutional Class (TCIEX). 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.
| TLWIX | TCIEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.16 | ||
| Sortino ratioReturn per unit of downside risk | +1.69 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.26 | +0.24 |
| Calmar ratioReturn relative to maximum drawdown | 3.18 | 1.89 | +1.29 |
| Martin ratioReturn relative to average drawdown | 14.13 | 7.06 | +7.07 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TLWIX | TCIEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.58 | 1.42 | +1.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | 0.55 | +0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.82 | 0.57 | +0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.80 | 0.41 | +0.39 |
Drawdowns
TLWIX vs. TCIEX - Drawdown Comparison
The maximum TLWIX drawdown since its inception was -19.93%, smaller than the maximum TCIEX drawdown of -59.27%. Use the drawdown chart below to compare losses from any high point for TLWIX and TCIEX.
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Drawdown Indicators
| TLWIX | TCIEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.93% | -59.27% | +39.34% |
Max Drawdown (1Y)Largest decline over 1 year | -5.15% | -11.35% | +6.20% |
Max Drawdown (3Y)Largest decline over 3 years | -11.61% | -13.58% | +1.97% |
Max Drawdown (5Y)Largest decline over 5 years | -19.93% | -29.25% | +9.32% |
Max Drawdown (10Y)Largest decline over 10 years | -19.93% | -33.58% | +13.65% |
Current DrawdownCurrent decline from peak | 0.00% | -0.49% | +0.49% |
Average DrawdownAverage peak-to-trough decline | -3.04% | -10.58% | +7.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.15% | 3.02% | -1.87% |
Volatility
TLWIX vs. TCIEX - Volatility Comparison
The current volatility for TIAA-CREF Lifecycle Index 2020 Fund (TLWIX) is 2.15%, while TIAA-CREF International Equity Index Fund Institutional Class (TCIEX) has a volatility of 4.65%. This indicates that TLWIX experiences smaller price fluctuations and is considered to be less risky than TCIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLWIX | TCIEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.15% | 4.65% | -2.50% |
Volatility (6M)Calculated over the trailing 6-month period | 5.13% | 12.25% | -7.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.34% | 15.11% | -8.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.21% | 16.10% | -6.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.10% | 16.65% | -7.55% |
TLWIX vs. TCIEX - Expense Ratio Comparison
TLWIX has a 0.10% expense ratio, which is higher than TCIEX's 0.05% 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
TLWIX vs. TCIEX - Dividend Comparison
TLWIX's dividend yield for the trailing twelve months is around 6.94%, more than TCIEX's 3.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TCIEX TIAA-CREF International Equity Index Fund Institutional Class | 3.55% | 3.89% | 3.17% | 3.14% | 2.82% | 3.02% | 1.96% | 3.08% | 3.42% | 2.78% | 2.95% | 3.06% |
TLWIX TIAA-CREF Lifecycle Index 2020 Fund | 6.94% | 7.38% | 6.98% | 3.45% | 3.25% | 5.17% | 2.31% | 2.31% | 2.91% | 0.14% | 2.35% | 0.21% |
Frequently Asked Questions
TLWIX and TCIEX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TCIEX has higher volatility (4.65%) compared to TLWIX (2.15%). In terms of maximum drawdown, TLWIX dropped -19.93% vs TCIEX's -59.27%.
TLWIX currently has the higher Sharpe Ratio (2.58 vs 1.42), 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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