TLZIX vs. TFITX
TLZIX (TIAA-CREF Lifecycle Index 2040 Fund) and TFITX (TIAA-CREF Lifecycle Index 2065 Fund) are both Target Retirement Date funds from TIAA Investments. Over the past 5 years, TLZIX returned 9.35%/yr vs 11.06%/yr for TFITX. With a 1.00 correlation, they move nearly in lockstep. TLZIX charges 0.10%/yr vs 0.11%/yr for TFITX.
Performance
TLZIX vs. TFITX - Performance Comparison
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Returns By Period
In the year-to-date period, TLZIX achieves a 9.97% return, which is significantly lower than TFITX's 12.03% return.
TLZIX
- 1D
- 1.04%
- 1M
- 1.66%
- YTD
- 9.97%
- 6M
- 9.80%
- 1Y
- 23.81%
- 3Y*
- 16.44%
- 5Y*
- 9.35%
- 10Y*
- 11.16%
TFITX
- 1D
- 1.29%
- 1M
- 1.90%
- YTD
- 12.03%
- 6M
- 11.83%
- 1Y
- 28.15%
- 3Y*
- 18.92%
- 5Y*
- 11.06%
- 10Y*
- —
TLZIX vs. TFITX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
TLZIX TIAA-CREF Lifecycle Index 2040 Fund | 9.97% | 18.86% | 13.52% | 18.98% | -16.69% | 14.86% | 8.51% |
TFITX TIAA-CREF Lifecycle Index 2065 Fund | 12.03% | 21.24% | 15.76% | 21.16% | -17.62% | 18.06% | 10.38% |
Correlation
The correlation between TLZIX and TFITX 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 (All Time) Calculated using the full available price history since Oct 14, 2020 | 1.00 |
The correlation between TLZIX and TFITX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
TLZIX vs. TFITX — Risk / Return Rank
TLZIX
TFITX
TLZIX vs. TFITX - 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 Lifecycle Index 2065 Fund (TFITX). 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.
| TLZIX | TFITX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.41 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.05 | 3.07 | -0.02 |
| Martin ratioReturn relative to average drawdown | 13.18 | 13.38 | -0.20 |
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Drawdowns
TLZIX vs. TFITX - Drawdown Comparison
The maximum TLZIX drawdown since its inception was -28.82%, which is greater than TFITX's maximum drawdown of -25.64%. Use the drawdown chart below to compare losses from any high point for TLZIX and TFITX.
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Drawdown Indicators
| TLZIX | TFITX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.82% | -25.64% | -3.18% |
Max Drawdown (1Y)Largest decline over 1 year | -7.77% | -9.12% | +1.35% |
Max Drawdown (3Y)Largest decline over 3 years | -12.92% | -15.56% | +2.64% |
Max Drawdown (5Y)Largest decline over 5 years | -24.21% | -25.64% | +1.43% |
Max Drawdown (10Y)Largest decline over 10 years | -28.82% | — | — |
Current DrawdownCurrent decline from peak | -0.38% | -0.48% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -4.00% | -5.24% | +1.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 2.08% | -0.29% |
Volatility
TLZIX vs. TFITX - Volatility Comparison
The current volatility for TIAA-CREF Lifecycle Index 2040 Fund (TLZIX) is 4.31%, while TIAA-CREF Lifecycle Index 2065 Fund (TFITX) has a volatility of 5.14%. This indicates that TLZIX experiences smaller price fluctuations and is considered to be less risky than TFITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLZIX | TFITX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.31% | 5.14% | -0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 8.80% | 10.46% | -1.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.60% | 12.61% | -2.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.97% | 15.11% | -2.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.97% | 14.90% | -0.93% |
TLZIX vs. TFITX - Expense Ratio Comparison
TLZIX has a 0.10% expense ratio, which is lower than TFITX's 0.11% expense ratio. Despite the difference, 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. TFITX - Dividend Comparison
TLZIX's dividend yield for the trailing twelve months is around 3.47%, more than TFITX's 2.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TFITX TIAA-CREF Lifecycle Index 2065 Fund | 2.18% | 2.44% | 2.12% | 2.05% | 2.09% | 1.84% | 1.55% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TLZIX TIAA-CREF Lifecycle Index 2040 Fund | 3.47% | 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
With a correlation of 1.00, TLZIX and TFITX 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.
TFITX has higher volatility (5.14%) compared to TLZIX (4.31%). In terms of maximum drawdown, TLZIX dropped -28.82% vs TFITX's -25.64%.
TLZIX currently has the higher Sharpe Ratio (2.23 vs 2.22), 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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