TRSPX vs. FASEX

Last updated Jun 25, 2026

TRSPX (Nuveen S&P 500 Index Fund Retirement Class) and FASEX (Nuveen Mid Cap Value Fund) are both mutual funds - TRSPX is a S&P 500 fund tracking the S&P 500, while FASEX is a Mid Cap Value Equities fund managed by Nuveen. Over the past 10 years, TRSPX returned 15.10%/yr vs 11.66%/yr for FASEX. Their correlation of 0.90 suggests significant overlap in exposure. TRSPX charges 0.30%/yr vs 1.16%/yr for FASEX.

Performance

TRSPX vs. FASEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen S&P 500 Index Fund Retirement Class (TRSPX) and Nuveen Mid Cap Value Fund (FASEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRSPX achieves a 8.06% return, which is significantly lower than FASEX's 19.98% return. Over the past 10 years, TRSPX has outperformed FASEX with an annualized return of 15.10%, while FASEX has yielded a comparatively lower 11.66% annualized return.

TRSPX

• 1D: -1.45%
• 1M: -1.36%
• YTD: 8.06%
• 6M: 6.74%
• 1Y: 21.95%
• 3Y*: 20.45%
• 5Y*: 12.82%
• 10Y*: 15.10%

FASEX

• 1D: -0.43%
• 1M: 3.71%
• YTD: 19.98%
• 6M: 18.04%
• 1Y: 30.64%
• 3Y*: 17.02%
• 5Y*: 10.15%
• 10Y*: 11.66%

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

TRSPX vs. FASEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRSPX Nuveen S&P 500 Index Fund Retirement Class	8.06%	17.50%	24.64%	25.90%	-18.34%	28.32%	18.08%	31.06%	-4.72%	19.52%
FASEX Nuveen Mid Cap Value Fund	19.98%	9.68%	10.40%	14.20%	-10.63%	34.84%	1.19%	26.68%	-13.00%	19.23%

Correlation

The correlation between TRSPX and FASEX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Sep 6, 2002	0.90

Over the past year, the correlation between TRSPX and FASEX has dropped to 0.69 - well below their long-term average of 0.90, suggesting their price drivers have been diverging.

Return for Risk

TRSPX vs. FASEX — Risk / Return Rank

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

TRSPX

TRSPX Risk / Return Rank: 57
TRSPX Sharpe Ratio Rank: 55
TRSPX Sortino Ratio Rank: 50
TRSPX Omega Ratio Rank: 52
TRSPX Calmar Ratio Rank: 58
TRSPX Martin Ratio Rank: 70

FASEX

FASEX Risk / Return Rank: 79
FASEX Sharpe Ratio Rank: 76
FASEX Sortino Ratio Rank: 75
FASEX Omega Ratio Rank: 65
FASEX Calmar Ratio Rank: 90
FASEX Martin Ratio Rank: 89

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.

TRSPX vs. FASEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen S&P 500 Index Fund Retirement Class (TRSPX) and Nuveen Mid Cap Value Fund (FASEX). 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.

	TRSPX	FASEX	Difference
Sharpe ratio: Return per unit of total volatility	1.87	2.32	-0.44
Sortino ratio: Return per unit of downside risk	2.55	3.28	-0.72
Omega ratio: Gain probability vs. loss probability	1.34	1.40	-0.06
Calmar ratio: Return relative to maximum drawdown	2.63	4.38	-1.75
Martin ratio: Return relative to average drawdown	11.78	15.96	-4.18

TRSPX vs. FASEX - Sharpe Ratio Comparison

The current TRSPX Sharpe Ratio is 1.87, which is comparable to the FASEX Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of TRSPX and FASEX, 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

TRSPX vs. FASEX - Drawdown Comparison

The maximum TRSPX drawdown since its inception was -55.34%, roughly equal to the maximum FASEX drawdown of -55.57%. Use the drawdown chart below to compare losses from any high point for TRSPX and FASEX.

Drawdown Indicators

	TRSPX	FASEX	Difference
Max Drawdown Largest peak-to-trough decline	-55.34%	-55.57%	+0.23%
Max Drawdown (1Y) Largest decline over 1 year	-8.94%	-7.37%	-1.57%
Max Drawdown (3Y) Largest decline over 3 years	-18.76%	-22.26%	+3.50%
Max Drawdown (5Y) Largest decline over 5 years	-24.63%	-22.26%	-2.37%
Max Drawdown (10Y) Largest decline over 10 years	-33.77%	-44.56%	+10.79%
Current Drawdown Current decline from peak	-3.14%	-0.43%	-2.71%
Average Drawdown Average peak-to-trough decline	-6.89%	-8.92%	+2.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	2.01%	-0.02%

Volatility

TRSPX vs. FASEX - Volatility Comparison

Nuveen S&P 500 Index Fund Retirement Class (TRSPX) has a higher volatility of 4.89% compared to Nuveen Mid Cap Value Fund (FASEX) at 4.18%. This indicates that TRSPX's price experiences larger fluctuations and is considered to be riskier than FASEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRSPX	FASEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.89%	4.18%	+0.71%
Volatility (6M) Calculated over the trailing 6-month period	9.95%	10.43%	-0.48%
Volatility (1Y) Calculated over the trailing 1-year period	12.58%	13.97%	-1.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.99%	18.06%	-1.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.07%	20.18%	-2.11%

TRSPX vs. FASEX - Expense Ratio Comparison

TRSPX has a 0.30% expense ratio, which is lower than FASEX's 1.16% expense ratio.

Dividends

TRSPX vs. FASEX - Dividend Comparison

TRSPX's dividend yield for the trailing twelve months is around 1.99%, less than FASEX's 12.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FASEX Nuveen Mid Cap Value Fund	12.23%	14.67%	5.29%	3.12%	6.32%	4.02%	1.06%	0.89%	4.48%	7.93%	3.67%	3.49%
TRSPX Nuveen S&P 500 Index Fund Retirement Class	1.99%	2.15%	1.30%	1.26%	1.66%	1.55%	1.33%	1.95%	2.67%	0.36%	2.18%	0.65%

Frequently Asked Questions

Can I hold both TRSPX and FASEX in my portfolio?

TRSPX and FASEX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRSPX or FASEX?

TRSPX has higher volatility (4.89%) compared to FASEX (4.18%). In terms of maximum drawdown, TRSPX dropped -55.34% vs FASEX's -55.57%.

Which has better risk-adjusted returns?

FASEX currently has the higher Sharpe Ratio (2.31 vs 1.87), 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.