TSAIX vs. MACAX

Last updated Aug 4, 2026

TSAIX (TIAA-CREF Lifestyle Aggressive Growth Fund) and MACAX (Mutual of America Conservative Allocation Fund) are both Diversified Portfolio funds. Over the past 5 years, TSAIX returned 9.02%/yr vs 3.33%/yr for MACAX. Their 0.73 correlation means they have sometimes moved together and sometimes differently. TSAIX charges 0.04%/yr vs 0.08%/yr for MACAX.

Performance

TSAIX vs. MACAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TIAA-CREF Lifestyle Aggressive Growth Fund (TSAIX) and Mutual of America Conservative Allocation Fund (MACAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSAIX achieves a 9.47% return, which is significantly higher than MACAX's 4.20% return.

TSAIX

• 1D: 0.58%
• 1M: 0.21%
• 6M: 5.89%
• YTD: 9.47%
• 1Y: 21.21%
• 3Y*: 16.45%
• 5Y*: 9.02%
• 10Y*: 11.74%
• ALL TIME*: 11.68%

MACAX

• 1D: 0.08%
• 1M: -0.41%
• 6M: 2.89%
• YTD: 4.20%
• 1Y: 9.53%
• 3Y*: 8.32%
• 5Y*: 3.33%
• 10Y*: —
• ALL TIME*: 51.11%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MACAX Mutual of America Conservative Allocation Fund	$0.00	$0.00	$0.00
TSAIX TIAA-CREF Lifestyle Aggressive Growth Fund	$0.00	$0.00	$0.00

TSAIX vs. MACAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TSAIX TIAA-CREF Lifestyle Aggressive Growth Fund	9.47%	20.04%	15.46%	22.72%	-19.57%	17.10%	26.21%
MACAX Mutual of America Conservative Allocation Fund	4.20%	11.09%	6.84%	8.97%	-12.93%	5.77%	897.64%

Correlation

The correlation between TSAIX and MACAX is 0.83, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.83
Correlation (3Y) Balances recent behavior with more history.	0.79
Correlation (5Y) Shows whether the relationship held over a longer period.	0.74
Correlation (All Time) Calculated using the full available price history since Jun 26, 2020	0.73

The correlation between TSAIX and MACAX has been stable across timeframes, ranging from 0.73 to 0.83 - a consistent structural relationship.

Return for Risk

TSAIX vs. MACAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TSAIX

TSAIX Risk / Return Rank: 48
TSAIX Sharpe Ratio Rank: 46
TSAIX Sortino Ratio Rank: 44
TSAIX Omega Ratio Rank: 44
TSAIX Calmar Ratio Rank: 47
TSAIX Martin Ratio Rank: 57

MACAX

MACAX Risk / Return Rank: 67
MACAX Sharpe Ratio Rank: 60
MACAX Sortino Ratio Rank: 68
MACAX Omega Ratio Rank: 61
MACAX Calmar Ratio Rank: 64
MACAX Martin Ratio Rank: 81

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TSAIX vs. MACAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Lifestyle Aggressive Growth Fund (TSAIX) and Mutual of America Conservative Allocation Fund (MACAX). 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.

	TSAIX	MACAX	Difference
Sharpe ratio: Return per unit of total volatility	1.40	1.59	-0.20
Sortino ratio: Return per unit of downside risk	1.98	2.43	-0.45
Omega ratio: Gain probability vs. loss probability	1.25	1.30	-0.04
Calmar ratio: Return relative to maximum drawdown	1.94	2.28	-0.34
Martin ratio: Return relative to average drawdown	8.14	10.37	-2.23

TSAIX vs. MACAX - Sharpe Ratio Comparison

The current TSAIX Sharpe Ratio is 1.40, which is comparable to the MACAX Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of TSAIX and MACAX, 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

TSAIX vs. MACAX - Drawdown Comparison

The maximum TSAIX drawdown since its inception was -34.58%, which is greater than MACAX's maximum drawdown of -17.36%. Use the drawdown chart below to compare losses from any high point for TSAIX and MACAX.

Drawdown Indicators

	TSAIX	MACAX	Difference
Max Drawdown Largest peak-to-trough decline	-34.58%	-17.36%	-17.22%
Max Drawdown (1Y) Largest decline over 1 year	-10.28%	-4.63%	-5.65%
Max Drawdown (3Y) Largest decline over 3 years	-17.29%	-6.38%	-10.91%
Max Drawdown (5Y) Largest decline over 5 years	-28.28%	-17.36%	-10.92%
Max Drawdown (10Y) Largest decline over 10 years	-34.58%	—	—
Current Drawdown Current decline from peak	-1.06%	-0.73%	-0.33%
Average Drawdown Average peak-to-trough decline	-4.88%	-4.18%	-0.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.44%	0.97%	+1.47%

Volatility

TSAIX vs. MACAX - Volatility Comparison

TIAA-CREF Lifestyle Aggressive Growth Fund (TSAIX) has a higher volatility of 4.28% compared to Mutual of America Conservative Allocation Fund (MACAX) at 1.74%. This indicates that TSAIX's price experiences larger fluctuations and is considered to be riskier than MACAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSAIX	MACAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.28%	1.74%	+2.54%
Volatility (6M) Calculated over the trailing 6-month period	11.83%	5.33%	+6.50%
Volatility (1Y) Calculated over the trailing 1-year period	14.29%	6.61%	+7.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.43%	8.89%	+7.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.61%	389.38%	-371.77%

TSAIX vs. MACAX - Expense Ratio Comparison

TSAIX has a 0.04% expense ratio, which is lower than MACAX's 0.08% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

TSAIX vs. MACAX - Dividend Comparison

TSAIX's dividend yield for the trailing twelve months is around 6.74%, less than MACAX's 6.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MACAX Mutual of America Conservative Allocation Fund	6.89%	7.19%	4.33%	1.83%	7.35%	4.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TSAIX TIAA-CREF Lifestyle Aggressive Growth Fund	6.74%	7.38%	2.94%	1.81%	9.27%	11.82%	5.59%	5.71%	5.71%	1.13%	4.12%	7.19%

Frequently Asked Questions

Can I hold both TSAIX and MACAX in my portfolio?

TSAIX and MACAX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSAIX or MACAX?

TSAIX has higher volatility (4.28%) compared to MACAX (1.74%). In terms of maximum drawdown, TSAIX dropped -34.58% vs MACAX's -17.36%.

Which has better risk-adjusted returns?

MACAX currently has the higher Sharpe Ratio (1.59 vs 1.40), 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.