TLWIX vs. TLQIX

Last updated Jun 24, 2026

TLWIX (TIAA-CREF Lifecycle Index 2020 Fund) and TLQIX (TIAA-CREF Lifecycle Index 2025 Fund) are both Target Retirement Date funds from TIAA Investments. Over the past 10 years, TLWIX returned 7.57%/yr vs 8.39%/yr for TLQIX. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.10% expense ratio.

Performance

TLWIX vs. TLQIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TIAA-CREF Lifecycle Index 2020 Fund (TLWIX) and TIAA-CREF Lifecycle Index 2025 Fund (TLQIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TLWIX achieves a 5.96% return, which is significantly lower than TLQIX's 6.56% return. Over the past 10 years, TLWIX has underperformed TLQIX with an annualized return of 7.57%, while TLQIX has yielded a comparatively higher 8.39% annualized return.

TLWIX

• 1D: -0.19%
• 1M: 1.05%
• YTD: 5.96%
• 6M: 5.75%
• 1Y: 14.69%
• 3Y*: 11.59%
• 5Y*: 5.57%
• 10Y*: 7.57%

TLQIX

• 1D: -0.16%
• 1M: 1.11%
• YTD: 6.56%
• 6M: 6.28%
• 1Y: 15.94%
• 3Y*: 12.46%
• 5Y*: 6.11%
• 10Y*: 8.39%

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

TLWIX vs. TLQIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TLWIX TIAA-CREF Lifecycle Index 2020 Fund	5.96%	13.75%	8.69%	13.06%	-14.37%	8.73%	13.06%	17.96%	-3.77%	11.56%
TLQIX TIAA-CREF Lifecycle Index 2025 Fund	6.56%	14.51%	9.46%	14.18%	-15.04%	10.12%	14.00%	19.84%	-4.45%	13.23%

Correlation

The correlation between TLWIX and TLQIX 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	1.00
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 Oct 1, 2009	0.99

The correlation between TLWIX and TLQIX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

TLWIX vs. TLQIX — Risk / Return Rank

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

TLWIX

TLWIX Risk / Return Rank: 71
TLWIX Sharpe Ratio Rank: 72
TLWIX Sortino Ratio Rank: 73
TLWIX Omega Ratio Rank: 73
TLWIX Calmar Ratio Rank: 66
TLWIX Martin Ratio Rank: 73

TLQIX

TLQIX Risk / Return Rank: 71
TLQIX Sharpe Ratio Rank: 71
TLQIX Sortino Ratio Rank: 72
TLQIX Omega Ratio Rank: 72
TLQIX Calmar Ratio Rank: 67
TLQIX Martin Ratio Rank: 72

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.

TLWIX vs. TLQIX - 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 Lifecycle Index 2025 Fund (TLQIX). 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.

	TLWIX	TLQIX	Difference
Sharpe ratio: Return per unit of total volatility	2.27	2.26	+0.01
Sortino ratio: Return per unit of downside risk	3.25	3.22	+0.03
Omega ratio: Gain probability vs. loss probability	1.44	1.43	0.00
Calmar ratio: Return relative to maximum drawdown	2.98	3.00	-0.02
Martin ratio: Return relative to average drawdown	12.96	12.93	+0.04

TLWIX vs. TLQIX - Sharpe Ratio Comparison

The current TLWIX Sharpe Ratio is 2.27, which is comparable to the TLQIX Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of TLWIX and TLQIX, 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

TLWIX vs. TLQIX - Drawdown Comparison

The maximum TLWIX drawdown since its inception was -19.93%, smaller than the maximum TLQIX drawdown of -21.30%. Use the drawdown chart below to compare losses from any high point for TLWIX and TLQIX.

Drawdown Indicators

	TLWIX	TLQIX	Difference
Max Drawdown Largest peak-to-trough decline	-19.93%	-21.30%	+1.37%
Max Drawdown (1Y) Largest decline over 1 year	-5.15%	-5.55%	+0.40%
Max Drawdown (3Y) Largest decline over 3 years	-11.61%	-11.51%	-0.10%
Max Drawdown (5Y) Largest decline over 5 years	-19.93%	-20.99%	+1.06%
Max Drawdown (10Y) Largest decline over 10 years	-19.93%	-21.30%	+1.37%
Current Drawdown Current decline from peak	-0.38%	-0.41%	+0.03%
Average Drawdown Average peak-to-trough decline	-3.04%	-3.29%	+0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.18%	1.28%	-0.10%

Volatility

TLWIX vs. TLQIX - Volatility Comparison

The current volatility for TIAA-CREF Lifecycle Index 2020 Fund (TLWIX) is 2.72%, while TIAA-CREF Lifecycle Index 2025 Fund (TLQIX) has a volatility of 2.92%. This indicates that TLWIX experiences smaller price fluctuations and is considered to be less risky than TLQIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TLWIX	TLQIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.72%	2.92%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	5.65%	6.18%	-0.53%
Volatility (1Y) Calculated over the trailing 1-year period	6.77%	7.37%	-0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.27%	9.80%	-0.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.12%	10.11%	-0.99%

TLWIX vs. TLQIX - Expense Ratio Comparison

Both TLWIX and TLQIX have an expense ratio of 0.10%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

TLWIX vs. TLQIX - Dividend Comparison

TLWIX's dividend yield for the trailing twelve months is around 6.97%, more than TLQIX's 5.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TLQIX TIAA-CREF Lifecycle Index 2025 Fund	5.75%	6.12%	5.79%	2.58%	2.99%	3.94%	2.15%	2.44%	2.73%	0.13%	2.43%	0.23%
TLWIX TIAA-CREF Lifecycle Index 2020 Fund	6.97%	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

Can I hold both TLWIX and TLQIX in my portfolio?

With a correlation of 1.00, TLWIX and TLQIX 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.

Which is riskier, TLWIX or TLQIX?

TLQIX has higher volatility (2.92%) compared to TLWIX (2.72%). In terms of maximum drawdown, TLWIX dropped -19.93% vs TLQIX's -21.30%.

Which has better risk-adjusted returns?

TLWIX currently has the higher Sharpe Ratio (2.27 vs 2.26), 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.