TLZIX vs. TCIEX
TLZIX (TIAA-CREF Lifecycle Index 2040 Fund) and TCIEX (TIAA-CREF International Equity Index Fund Institutional Class) are both mutual funds - TLZIX 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, TLZIX returned 11.13%/yr vs 9.38%/yr for TCIEX. Their correlation of 0.89 suggests significant overlap in exposure. TLZIX charges 0.10%/yr vs 0.05%/yr for TCIEX.
Performance
TLZIX vs. TCIEX - Performance Comparison
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Returns By Period
In the year-to-date period, TLZIX achieves a 10.38% return, which is significantly higher than TCIEX's 9.52% return. Over the past 10 years, TLZIX has outperformed TCIEX with an annualized return of 11.13%, while TCIEX has yielded a comparatively lower 9.38% annualized return.
TLZIX
- 1D
- 0.33%
- 1M
- 4.67%
- YTD
- 10.38%
- 6M
- 10.97%
- 1Y
- 24.45%
- 3Y*
- 17.59%
- 5Y*
- 9.34%
- 10Y*
- 11.13%
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%
TLZIX vs. TCIEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TLZIX TIAA-CREF Lifecycle Index 2040 Fund | 10.38% | 18.86% | 13.52% | 18.98% | -16.69% | 14.86% | 16.26% | 24.52% | -6.39% | 18.09% |
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 TLZIX 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 | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Oct 2, 2009 | 0.89 |
The correlation between TLZIX and TCIEX has been stable across timeframes, ranging from 0.86 to 0.89 - a consistent structural relationship.
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Return for Risk
TLZIX vs. TCIEX — Risk / Return Rank
TLZIX
TCIEX
TLZIX vs. TCIEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Lifecycle Index 2040 Fund (TLZIX) 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.
| TLZIX | TCIEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.08 | ||
| Sortino ratioReturn per unit of downside risk | +1.45 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.26 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 3.21 | 1.89 | +1.32 |
| Martin ratioReturn relative to average drawdown | 14.20 | 7.06 | +7.14 |
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
| TLZIX | TCIEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.50 | 1.42 | +1.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.55 | +0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.80 | 0.57 | +0.24 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.75 | 0.41 | +0.34 |
Drawdowns
TLZIX vs. TCIEX - Drawdown Comparison
The maximum TLZIX drawdown since its inception was -28.82%, smaller than the maximum TCIEX drawdown of -59.27%. Use the drawdown chart below to compare losses from any high point for TLZIX and TCIEX.
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Drawdown Indicators
| TLZIX | TCIEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.82% | -59.27% | +30.45% |
Max Drawdown (1Y)Largest decline over 1 year | -7.77% | -11.35% | +3.58% |
Max Drawdown (3Y)Largest decline over 3 years | -12.92% | -13.58% | +0.66% |
Max Drawdown (5Y)Largest decline over 5 years | -24.21% | -29.25% | +5.04% |
Max Drawdown (10Y)Largest decline over 10 years | -28.82% | -33.58% | +4.76% |
Current DrawdownCurrent decline from peak | 0.00% | -0.49% | +0.49% |
Average DrawdownAverage peak-to-trough decline | -4.01% | -10.58% | +6.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.75% | 3.02% | -1.27% |
Volatility
TLZIX vs. TCIEX - Volatility Comparison
The current volatility for TIAA-CREF Lifecycle Index 2040 Fund (TLZIX) is 3.05%, while TIAA-CREF International Equity Index Fund Institutional Class (TCIEX) has a volatility of 4.65%. This indicates that TLZIX 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
| TLZIX | TCIEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.05% | 4.65% | -1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 7.96% | 12.25% | -4.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.98% | 15.11% | -5.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.87% | 16.10% | -3.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.94% | 16.65% | -2.71% |
TLZIX vs. TCIEX - Expense Ratio Comparison
TLZIX 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
TLZIX vs. TCIEX - Dividend Comparison
TLZIX's dividend yield for the trailing twelve months is around 3.46%, less 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% |
TLZIX TIAA-CREF Lifecycle Index 2040 Fund | 3.46% | 3.82% | 2.49% | 2.11% | 2.62% | 2.93% | 1.95% | 2.26% | 2.68% | 0.18% | 2.64% | 0.31% |
Frequently Asked Questions
TLZIX 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 TLZIX (3.05%). In terms of maximum drawdown, TLZIX dropped -28.82% vs TCIEX's -59.27%.
TLZIX currently has the higher Sharpe Ratio (2.50 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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