VGSNX vs. TCIEX
VGSNX (Vanguard Real Estate Index Fund Institutional Shares) and TCIEX (TIAA-CREF International Equity Index Fund Institutional Class) are both mutual funds - VGSNX is a REIT fund managed by Vanguard, while TCIEX is a Large Cap Blend Equities fund tracking the MSCI EAFE Index. Over the past 10 years, VGSNX returned 5.22%/yr vs 9.38%/yr for TCIEX. A 0.52 correlation means they provide meaningful diversification when combined. VGSNX charges 0.10%/yr vs 0.05%/yr for TCIEX.
Performance
VGSNX vs. TCIEX - Performance Comparison
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Returns By Period
In the year-to-date period, VGSNX achieves a 7.95% return, which is significantly lower than TCIEX's 9.52% return. Over the past 10 years, VGSNX has underperformed TCIEX with an annualized return of 5.22%, while TCIEX has yielded a comparatively higher 9.38% annualized return.
VGSNX
- 1D
- 0.44%
- 1M
- -0.96%
- YTD
- 7.95%
- 6M
- 6.90%
- 1Y
- 10.16%
- 3Y*
- 9.20%
- 5Y*
- 2.22%
- 10Y*
- 5.22%
TCIEX
- 1D
- 0.33%
- 1M
- 4.10%
- YTD
- 9.52%
- 6M
- 11.87%
- 1Y
- 22.18%
- 3Y*
- 17.07%
- 5Y*
- 8.81%
- 10Y*
- 9.38%
VGSNX vs. TCIEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VGSNX Vanguard Real Estate Index Fund Institutional Shares | 7.95% | 3.21% | 3.72% | 13.12% | -26.19% | 40.46% | -4.76% | 28.98% | -5.97% | 4.90% |
TCIEX TIAA-CREF International Equity Index Fund Institutional Class | 9.52% | 31.55% | 3.69% | 18.21% | -14.19% | 11.30% | 8.13% | 21.82% | -13.27% | 25.34% |
Correlation
The correlation between VGSNX and TCIEX is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Dec 4, 2003 | 0.52 |
The correlation between VGSNX and TCIEX has been stable across timeframes, ranging from 0.50 to 0.58 - a consistent structural relationship.
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Return for Risk
VGSNX vs. TCIEX — Risk / Return Rank
VGSNX
TCIEX
VGSNX vs. TCIEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Real Estate Index Fund Institutional Shares (VGSNX) 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.
| VGSNX | TCIEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.26 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.19 | 1.89 | -0.70 |
| Martin ratioReturn relative to average drawdown | 3.75 | 7.06 | -3.31 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VGSNX | TCIEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.75 | 1.42 | -0.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.12 | 0.55 | -0.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.25 | 0.57 | -0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.28 | 0.41 | -0.13 |
Drawdowns
VGSNX vs. TCIEX - Drawdown Comparison
The maximum VGSNX drawdown since its inception was -73.06%, which is greater than TCIEX's maximum drawdown of -59.27%. Use the drawdown chart below to compare losses from any high point for VGSNX and TCIEX.
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Drawdown Indicators
| VGSNX | TCIEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.06% | -59.27% | -13.79% |
Max Drawdown (1Y)Largest decline over 1 year | -8.34% | -11.35% | +3.01% |
Max Drawdown (3Y)Largest decline over 3 years | -17.41% | -13.58% | -3.83% |
Max Drawdown (5Y)Largest decline over 5 years | -34.39% | -29.25% | -5.14% |
Max Drawdown (10Y)Largest decline over 10 years | -42.30% | -33.58% | -8.72% |
Current DrawdownCurrent decline from peak | -3.52% | -0.49% | -3.03% |
Average DrawdownAverage peak-to-trough decline | -13.29% | -10.58% | -2.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.64% | 3.02% | -0.38% |
Volatility
VGSNX vs. TCIEX - Volatility Comparison
The current volatility for Vanguard Real Estate Index Fund Institutional Shares (VGSNX) is 3.75%, while TIAA-CREF International Equity Index Fund Institutional Class (TCIEX) has a volatility of 4.65%. This indicates that VGSNX experiences smaller price fluctuations and is considered to be less risky than TCIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VGSNX | TCIEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.75% | 4.65% | -0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 9.32% | 12.25% | -2.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.16% | 15.11% | -1.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.87% | 16.10% | +2.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.91% | 16.65% | +4.26% |
VGSNX vs. TCIEX - Expense Ratio Comparison
VGSNX has a 0.10% expense ratio, which is higher than TCIEX's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
VGSNX vs. TCIEX - Dividend Comparison
VGSNX's dividend yield for the trailing twelve months is around 3.71%, more than TCIEX's 3.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TCIEX TIAA-CREF International Equity Index Fund Institutional Class | 3.55% | 3.89% | 3.17% | 3.14% | 2.82% | 3.02% | 1.96% | 3.08% | 3.42% | 2.78% | 2.95% | 3.06% |
VGSNX Vanguard Real Estate Index Fund Institutional Shares | 3.71% | 3.94% | 3.87% | 3.93% | 3.94% | 2.57% | 3.95% | 3.40% | 4.75% | 4.26% | 4.84% | 3.94% |
Frequently Asked Questions
VGSNX and TCIEX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TCIEX has higher volatility (4.65%) compared to VGSNX (3.75%). In terms of maximum drawdown, VGSNX dropped -73.06% vs TCIEX's -59.27%.
TCIEX currently has the higher Sharpe Ratio (1.42 vs 0.75), 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.
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