TRIEX vs. TCIEX

Last updated Jun 24, 2026

TRIEX (Nuveen International Equity Index Fund Retirement Class) and TCIEX (TIAA-CREF International Equity Index Fund Institutional Class) are both mutual funds - TRIEX is a International Equity fund tracking the MSCI EAFE Index, while TCIEX is a Large Cap Blend Equities fund tracking the MSCI EAFE Index. Both are passively managed. Over the past 10 years, TRIEX returned 9.96%/yr vs 10.23%/yr for TCIEX. With a 0.99 correlation, they move nearly in lockstep. TRIEX charges 0.30%/yr vs 0.05%/yr for TCIEX.

Performance

TRIEX vs. TCIEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen International Equity Index Fund Retirement Class (TRIEX) and TIAA-CREF International Equity Index Fund Institutional Class (TCIEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with TRIEX having a 10.66% return and TCIEX slightly higher at 10.77%. Both investments have delivered pretty close results over the past 10 years, with TRIEX having a 9.96% annualized return and TCIEX not far ahead at 10.23%.

TRIEX

• 1D: 0.19%
• 1M: 2.16%
• YTD: 10.66%
• 6M: 10.12%
• 1Y: 24.18%
• 3Y*: 17.31%
• 5Y*: 9.04%
• 10Y*: 9.96%

TCIEX

• 1D: 0.16%
• 1M: 2.15%
• YTD: 10.77%
• 6M: 10.26%
• 1Y: 24.50%
• 3Y*: 17.59%
• 5Y*: 9.31%
• 10Y*: 10.23%

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

TRIEX vs. TCIEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRIEX Nuveen International Equity Index Fund Retirement Class	10.66%	31.24%	3.41%	17.93%	-14.44%	11.08%	7.85%	21.58%	-13.56%	25.06%
TCIEX TIAA-CREF International Equity Index Fund Institutional Class	10.77%	31.55%	3.69%	18.21%	-14.19%	11.30%	8.13%	21.82%	-13.27%	25.34%

Correlation

The correlation between TRIEX and TCIEX 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	1.00
Correlation (All Time) Calculated using the full available price history since Jan 2, 2003	0.99

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

Return for Risk

TRIEX vs. TCIEX — Risk / Return Rank

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

TRIEX

TRIEX Risk / Return Rank: 37
TRIEX Sharpe Ratio Rank: 37
TRIEX Sortino Ratio Rank: 36
TRIEX Omega Ratio Rank: 36
TRIEX Calmar Ratio Rank: 38
TRIEX Martin Ratio Rank: 41

TCIEX

TCIEX Risk / Return Rank: 38
TCIEX Sharpe Ratio Rank: 37
TCIEX Sortino Ratio Rank: 36
TCIEX Omega Ratio Rank: 37
TCIEX Calmar Ratio Rank: 39
TCIEX Martin Ratio Rank: 42

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.

TRIEX vs. TCIEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen International Equity Index Fund Retirement Class (TRIEX) 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.

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.

	TRIEX	TCIEX	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.65	-0.02
Sortino ratio: Return per unit of downside risk	2.31	2.34	-0.03
Omega ratio: Gain probability vs. loss probability	1.29	1.30	0.00
Calmar ratio: Return relative to maximum drawdown	2.23	2.26	-0.03
Martin ratio: Return relative to average drawdown	8.28	8.43	-0.15

TRIEX vs. TCIEX - Sharpe Ratio Comparison

The current TRIEX Sharpe Ratio is 1.63, which is comparable to the TCIEX Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of TRIEX and TCIEX, 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

TRIEX vs. TCIEX - Drawdown Comparison

The maximum TRIEX drawdown since its inception was -60.73%, roughly equal to the maximum TCIEX drawdown of -59.27%. Use the drawdown chart below to compare losses from any high point for TRIEX and TCIEX.

Drawdown Indicators

	TRIEX	TCIEX	Difference
Max Drawdown Largest peak-to-trough decline	-60.73%	-59.27%	-1.46%
Max Drawdown (1Y) Largest decline over 1 year	-11.37%	-11.35%	-0.02%
Max Drawdown (3Y) Largest decline over 3 years	-13.55%	-13.58%	+0.03%
Max Drawdown (5Y) Largest decline over 5 years	-29.44%	-29.25%	-0.19%
Max Drawdown (10Y) Largest decline over 10 years	-33.96%	-33.58%	-0.38%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-11.42%	-10.56%	-0.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	3.03%	+0.02%

Volatility

TRIEX vs. TCIEX - Volatility Comparison

Nuveen International Equity Index Fund Retirement Class (TRIEX) and TIAA-CREF International Equity Index Fund Institutional Class (TCIEX) have volatilities of 4.82% and 4.80%, 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.

Volatility by Period

	TRIEX	TCIEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.82%	4.80%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	12.94%	12.90%	+0.04%
Volatility (1Y) Calculated over the trailing 1-year period	15.59%	15.55%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.19%	16.19%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.63%	16.63%	0.00%

TRIEX vs. TCIEX - Expense Ratio Comparison

TRIEX has a 0.30% expense ratio, which is higher than TCIEX's 0.05% expense ratio.

Dividends

TRIEX vs. TCIEX - Dividend Comparison

TRIEX's dividend yield for the trailing twelve months is around 3.22%, less than TCIEX's 3.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TCIEX TIAA-CREF International Equity Index Fund Institutional Class	3.51%	3.89%	3.17%	3.14%	2.82%	3.02%	1.96%	3.08%	3.42%	2.78%	2.95%	3.06%
TRIEX Nuveen International Equity Index Fund Retirement Class	3.22%	3.57%	2.84%	2.83%	2.49%	2.69%	1.70%	2.78%	3.05%	2.51%	2.65%	2.72%

Frequently Asked Questions

Can I hold both TRIEX and TCIEX in my portfolio?

With a correlation of 1.00, TRIEX and TCIEX 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, TRIEX or TCIEX?

TRIEX has higher volatility (4.82%) compared to TCIEX (4.80%). In terms of maximum drawdown, TRIEX dropped -60.73% vs TCIEX's -59.27%.

Which has better risk-adjusted returns?

TCIEX currently has the higher Sharpe Ratio (1.65 vs 1.63), 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.