TRLIX vs. VSPVX

Last updated Jun 4, 2026

TRLIX (TIAA-CREF Large Cap Value Fund) and VSPVX (Vanguard S&P 500 Value Index Fund Institutional Shares) are both Large Cap Value Equities funds. Over the past 10 years, TRLIX returned 11.15%/yr vs 11.85%/yr for VSPVX. With a 0.95 correlation, they move nearly in lockstep. TRLIX charges 0.41%/yr vs 0.08%/yr for VSPVX.

Performance

TRLIX vs. VSPVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TIAA-CREF Large Cap Value Fund (TRLIX) and Vanguard S&P 500 Value Index Fund Institutional Shares (VSPVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRLIX achieves a 10.74% return, which is significantly higher than VSPVX's 7.91% return. Over the past 10 years, TRLIX has underperformed VSPVX with an annualized return of 11.15%, while VSPVX has yielded a comparatively higher 11.85% annualized return.

TRLIX

• 1D: 0.80%
• 1M: 2.80%
• YTD: 10.74%
• 6M: 11.73%
• 1Y: 25.23%
• 3Y*: 18.57%
• 5Y*: 11.05%
• 10Y*: 11.15%

VSPVX

• 1D: 0.50%
• 1M: 2.64%
• YTD: 7.91%
• 6M: 8.20%
• 1Y: 21.76%
• 3Y*: 15.66%
• 5Y*: 10.71%
• 10Y*: 11.85%

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

TRLIX vs. VSPVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRLIX TIAA-CREF Large Cap Value Fund	10.74%	17.44%	14.79%	14.35%	-7.03%	27.10%	3.59%	28.83%	-14.29%	10.89%
VSPVX Vanguard S&P 500 Value Index Fund Institutional Shares	7.91%	12.62%	11.99%	22.39%	-5.33%	24.80%	1.23%	31.84%	-9.02%	15.28%

Correlation

The correlation between TRLIX and VSPVX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jul 29, 2014	0.95

The correlation between TRLIX and VSPVX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

TRLIX vs. VSPVX — Risk / Return Rank

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

TRLIX

TRLIX Risk / Return Rank: 71
TRLIX Sharpe Ratio Rank: 69
TRLIX Sortino Ratio Rank: 68
TRLIX Omega Ratio Rank: 62
TRLIX Calmar Ratio Rank: 78
TRLIX Martin Ratio Rank: 76

VSPVX

VSPVX Risk / Return Rank: 65
VSPVX Sharpe Ratio Rank: 61
VSPVX Sortino Ratio Rank: 58
VSPVX Omega Ratio Rank: 54
VSPVX Calmar Ratio Rank: 79
VSPVX 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.

TRLIX vs. VSPVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Large Cap Value Fund (TRLIX) and Vanguard S&P 500 Value Index Fund Institutional Shares (VSPVX). 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.

	TRLIX	VSPVX	Difference
Sharpe ratio Return per unit of total volatility	2.42	2.29	+0.12
Sortino ratio Return per unit of downside risk	3.42	3.20	+0.23
Omega ratio Gain probability vs. loss probability	1.44	1.41	+0.03
Calmar ratio Return relative to maximum drawdown	3.56	3.60	-0.04
Martin ratio Return relative to average drawdown	14.34	13.77	+0.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRLIX vs. VSPVX - Sharpe Ratio Comparison

The current TRLIX Sharpe Ratio is 2.42, which is comparable to the VSPVX Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of TRLIX and VSPVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TRLIX	VSPVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	2.29	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.75	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.70	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.63	-0.14

Drawdowns

TRLIX vs. VSPVX - Drawdown Comparison

The maximum TRLIX drawdown since its inception was -61.94%, which is greater than VSPVX's maximum drawdown of -37.05%. Use the drawdown chart below to compare losses from any high point for TRLIX and VSPVX.

Drawdown Indicators

	TRLIX	VSPVX	Difference
Max Drawdown Largest peak-to-trough decline	-61.94%	-37.05%	-24.89%
Max Drawdown (1Y) Largest decline over 1 year	-7.35%	-6.24%	-1.11%
Max Drawdown (3Y) Largest decline over 3 years	-14.69%	-17.91%	+3.22%
Max Drawdown (5Y) Largest decline over 5 years	-20.13%	-18.00%	-2.13%
Max Drawdown (10Y) Largest decline over 10 years	-38.54%	-37.05%	-1.49%
Current Drawdown Current decline from peak	-0.00%	-0.18%	+0.18%
Average Drawdown Average peak-to-trough decline	-8.84%	-4.06%	-4.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.82%	1.63%	+0.19%

Volatility

TRLIX vs. VSPVX - Volatility Comparison

TIAA-CREF Large Cap Value Fund (TRLIX) has a higher volatility of 3.02% compared to Vanguard S&P 500 Value Index Fund Institutional Shares (VSPVX) at 2.18%. This indicates that TRLIX's price experiences larger fluctuations and is considered to be riskier than VSPVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRLIX	VSPVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.02%	2.18%	+0.84%
Volatility (6M) Calculated over the trailing 6-month period	8.29%	7.07%	+1.22%
Volatility (1Y) Calculated over the trailing 1-year period	10.83%	9.80%	+1.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.92%	14.45%	+0.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.05%	17.07%	+0.98%

TRLIX vs. VSPVX - Expense Ratio Comparison

TRLIX has a 0.41% expense ratio, which is higher than VSPVX's 0.08% expense ratio.

Dividends

TRLIX vs. VSPVX - Dividend Comparison

TRLIX's dividend yield for the trailing twelve months is around 7.97%, more than VSPVX's 1.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TRLIX TIAA-CREF Large Cap Value Fund	7.97%	8.82%	4.01%	8.58%	6.13%	9.19%	1.89%	2.08%	12.82%	5.19%	4.29%	1.11%
VSPVX Vanguard S&P 500 Value Index Fund Institutional Shares	1.69%	1.35%	2.12%	1.70%	2.21%	1.88%	2.46%	2.12%	2.73%	2.18%	2.30%	2.47%

Frequently Asked Questions

Can I hold both TRLIX and VSPVX in my portfolio?

With a correlation of 0.93, TRLIX and VSPVX 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, TRLIX or VSPVX?

TRLIX has higher volatility (3.02%) compared to VSPVX (2.18%). In terms of maximum drawdown, TRLIX dropped -61.94% vs VSPVX's -37.05%.

Which has better risk-adjusted returns?

TRLIX currently has the higher Sharpe Ratio (2.42 vs 2.29), 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.