TRLIX vs. VVIAX

Last updated Jun 24, 2026

TRLIX (TIAA-CREF Large Cap Value Fund) and VVIAX (Vanguard Value Index Fund Admiral Shares) are both Large Cap Value Equities funds. Over the past 10 years, TRLIX returned 11.90%/yr vs 13.00%/yr for VVIAX. With a 0.97 correlation, they move nearly in lockstep. TRLIX charges 0.41%/yr vs 0.05%/yr for VVIAX.

Performance

TRLIX vs. VVIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TIAA-CREF Large Cap Value Fund (TRLIX) and Vanguard Value Index Fund Admiral Shares (VVIAX). 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 TRLIX having a 14.43% return and VVIAX slightly higher at 15.10%. Over the past 10 years, TRLIX has underperformed VVIAX with an annualized return of 11.90%, while VVIAX has yielded a comparatively higher 13.00% annualized return.

TRLIX

• 1D: 0.59%
• 1M: 4.08%
• YTD: 14.43%
• 6M: 13.71%
• 1Y: 27.79%
• 3Y*: 19.40%
• 5Y*: 12.46%
• 10Y*: 11.90%

VVIAX

• 1D: 0.97%
• 1M: 3.70%
• YTD: 15.10%
• 6M: 14.54%
• 1Y: 27.88%
• 3Y*: 18.86%
• 5Y*: 12.50%
• 10Y*: 13.00%

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

TRLIX vs. VVIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRLIX TIAA-CREF Large Cap Value Fund	14.43%	17.44%	14.79%	14.35%	-7.03%	27.10%	3.59%	28.83%	-14.29%	10.89%
VVIAX Vanguard Value Index Fund Admiral Shares	15.10%	15.27%	16.00%	9.22%	-2.07%	26.51%	2.29%	25.81%	-5.45%	17.13%

Correlation

The correlation between TRLIX and VVIAX 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	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Sep 30, 2002	0.97

The correlation between TRLIX and VVIAX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

Return for Risk

TRLIX vs. VVIAX — Risk / Return Rank

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

TRLIX

TRLIX Risk / Return Rank: 84
TRLIX Sharpe Ratio Rank: 86
TRLIX Sortino Ratio Rank: 83
TRLIX Omega Ratio Rank: 79
TRLIX Calmar Ratio Rank: 86
TRLIX Martin Ratio Rank: 89

VVIAX

VVIAX Risk / Return Rank: 89
VVIAX Sharpe Ratio Rank: 91
VVIAX Sortino Ratio Rank: 88
VVIAX Omega Ratio Rank: 82
VVIAX Calmar Ratio Rank: 91
VVIAX Martin Ratio Rank: 91

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. VVIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Large Cap Value Fund (TRLIX) and Vanguard Value Index Fund Admiral Shares (VVIAX). 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.

	TRLIX	VVIAX	Difference
Sharpe ratio: Return per unit of total volatility	2.59	2.79	-0.20
Sortino ratio: Return per unit of downside risk	3.64	3.95	-0.31
Omega ratio: Gain probability vs. loss probability	1.47	1.50	-0.03
Calmar ratio: Return relative to maximum drawdown	3.94	4.55	-0.60
Martin ratio: Return relative to average drawdown	15.85	17.10	-1.25

TRLIX vs. VVIAX - Sharpe Ratio Comparison

The current TRLIX Sharpe Ratio is 2.59, which is comparable to the VVIAX Sharpe Ratio of 2.79. The chart below compares the historical Sharpe Ratios of TRLIX and VVIAX, 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

TRLIX vs. VVIAX - Drawdown Comparison

The maximum TRLIX drawdown since its inception was -61.94%, roughly equal to the maximum VVIAX drawdown of -59.32%. Use the drawdown chart below to compare losses from any high point for TRLIX and VVIAX.

Drawdown Indicators

	TRLIX	VVIAX	Difference
Max Drawdown Largest peak-to-trough decline	-61.94%	-59.32%	-2.62%
Max Drawdown (1Y) Largest decline over 1 year	-7.35%	-6.36%	-0.99%
Max Drawdown (3Y) Largest decline over 3 years	-14.69%	-14.39%	-0.30%
Max Drawdown (5Y) Largest decline over 5 years	-20.13%	-17.14%	-2.99%
Max Drawdown (10Y) Largest decline over 10 years	-38.54%	-36.80%	-1.74%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.82%	-9.60%	+0.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.82%	1.69%	+0.13%

Volatility

TRLIX vs. VVIAX - Volatility Comparison

TIAA-CREF Large Cap Value Fund (TRLIX) has a higher volatility of 3.74% compared to Vanguard Value Index Fund Admiral Shares (VVIAX) at 3.36%. This indicates that TRLIX's price experiences larger fluctuations and is considered to be riskier than VVIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRLIX	VVIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.74%	3.36%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	8.66%	7.89%	+0.77%
Volatility (1Y) Calculated over the trailing 1-year period	11.24%	10.39%	+0.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.94%	13.91%	+1.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.06%	16.76%	+1.30%

TRLIX vs. VVIAX - Expense Ratio Comparison

TRLIX has a 0.41% expense ratio, which is higher than VVIAX's 0.05% expense ratio.

Dividends

TRLIX vs. VVIAX - Dividend Comparison

TRLIX's dividend yield for the trailing twelve months is around 7.71%, more than VVIAX's 1.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TRLIX TIAA-CREF Large Cap Value Fund	7.71%	8.82%	4.01%	8.58%	6.13%	9.19%	1.89%	2.08%	12.82%	5.19%	4.29%	1.11%
VVIAX Vanguard Value Index Fund Admiral Shares	1.81%	2.04%	2.30%	2.45%	2.51%	2.14%	2.55%	2.49%	2.72%	2.29%	2.45%	2.60%

Frequently Asked Questions

Can I hold both TRLIX and VVIAX in my portfolio?

With a correlation of 0.96, TRLIX and VVIAX 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 VVIAX?

TRLIX has higher volatility (3.74%) compared to VVIAX (3.36%). In terms of maximum drawdown, TRLIX dropped -61.94% vs VVIAX's -59.32%.

Which has better risk-adjusted returns?

VVIAX currently has the higher Sharpe Ratio (2.79 vs 2.59), 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.