TLZIX vs. TIEIX
TLZIX (TIAA-CREF Lifecycle Index 2040 Fund) and TIEIX (TIAA-CREF Equity Index Fund) are both mutual funds - TLZIX is a Target Retirement Date fund managed by TIAA Investments, while TIEIX is a Large Cap Blend Equities fund managed by TIAA Investments. Over the past 10 years, TLZIX returned 11.13%/yr vs 14.90%/yr for TIEIX. With a 0.97 correlation, they move nearly in lockstep. TLZIX charges 0.10%/yr vs 0.05%/yr for TIEIX.
Performance
TLZIX vs. TIEIX - Performance Comparison
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Returns By Period
In the year-to-date period, TLZIX achieves a 10.38% return, which is significantly lower than TIEIX's 11.71% return. Over the past 10 years, TLZIX has underperformed TIEIX with an annualized return of 11.13%, while TIEIX has yielded a comparatively higher 14.90% 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%
TIEIX
- 1D
- 0.23%
- 1M
- 5.69%
- YTD
- 11.71%
- 6M
- 11.59%
- 1Y
- 28.58%
- 3Y*
- 22.19%
- 5Y*
- 13.05%
- 10Y*
- 14.90%
TLZIX vs. TIEIX - 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% |
TIEIX TIAA-CREF Equity Index Fund | 11.71% | 17.04% | 23.71% | 25.92% | -19.18% | 25.64% | 20.82% | 30.89% | -5.27% | 19.05% |
Correlation
The correlation between TLZIX and TIEIX is 0.96 - 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 | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Oct 2, 2009 | 0.97 |
The correlation between TLZIX and TIEIX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
TLZIX vs. TIEIX — Risk / Return Rank
TLZIX
TIEIX
TLZIX vs. TIEIX - 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 Equity Index Fund (TIEIX). 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 | TIEIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.44 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.21 | 3.36 | -0.16 |
| Martin ratioReturn relative to average drawdown | 14.20 | 15.44 | -1.24 |
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 | TIEIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.50 | 2.44 | +0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.76 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.80 | 0.81 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.75 | 0.44 | +0.31 |
Drawdowns
TLZIX vs. TIEIX - Drawdown Comparison
The maximum TLZIX drawdown since its inception was -28.82%, smaller than the maximum TIEIX drawdown of -55.55%. Use the drawdown chart below to compare losses from any high point for TLZIX and TIEIX.
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Drawdown Indicators
| TLZIX | TIEIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.82% | -55.55% | +26.73% |
Max Drawdown (1Y)Largest decline over 1 year | -7.77% | -8.84% | +1.07% |
Max Drawdown (3Y)Largest decline over 3 years | -12.92% | -19.29% | +6.37% |
Max Drawdown (5Y)Largest decline over 5 years | -24.21% | -25.06% | +0.85% |
Max Drawdown (10Y)Largest decline over 10 years | -28.82% | -34.90% | +6.08% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -4.01% | -10.30% | +6.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.75% | 1.92% | -0.17% |
Volatility
TLZIX vs. TIEIX - Volatility Comparison
TIAA-CREF Lifecycle Index 2040 Fund (TLZIX) and TIAA-CREF Equity Index Fund (TIEIX) have volatilities of 3.05% and 2.96%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TLZIX | TIEIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.05% | 2.96% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 7.96% | 9.17% | -1.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.98% | 12.18% | -2.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.87% | 17.31% | -4.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.94% | 18.40% | -4.46% |
TLZIX vs. TIEIX - Expense Ratio Comparison
TLZIX has a 0.10% expense ratio, which is higher than TIEIX'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. TIEIX - Dividend Comparison
TLZIX's dividend yield for the trailing twelve months is around 3.46%, more than TIEIX's 2.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TIEIX TIAA-CREF Equity Index Fund | 2.14% | 2.39% | 1.63% | 1.47% | 1.83% | 2.08% | 1.43% | 1.99% | 2.45% | 0.52% | 2.45% | 1.27% |
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
With a correlation of 0.96, TLZIX and TIEIX 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.
TLZIX has higher volatility (3.05%) compared to TIEIX (2.96%). In terms of maximum drawdown, TLZIX dropped -28.82% vs TIEIX's -55.55%.
TLZIX currently has the higher Sharpe Ratio (2.50 vs 2.44), 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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