VTMGX vs. TCIEX
VTMGX (Vanguard Developed Markets Index Fund Admiral Shares) and TCIEX (TIAA-CREF International Equity Index Fund Institutional Class) are both mutual funds - VTMGX is a Large Cap Growth Equities fund managed by Vanguard, while TCIEX is a Large Cap Blend Equities fund tracking the MSCI EAFE Index. Over the past 10 years, VTMGX returned 10.24%/yr vs 9.38%/yr for TCIEX. With a 0.97 correlation, they move nearly in lockstep. VTMGX charges 0.07%/yr vs 0.05%/yr for TCIEX.
Performance
VTMGX vs. TCIEX - Performance Comparison
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Returns By Period
In the year-to-date period, VTMGX achieves a 15.89% return, which is significantly higher than TCIEX's 9.52% return. Over the past 10 years, VTMGX has outperformed TCIEX with an annualized return of 10.24%, while TCIEX has yielded a comparatively lower 9.38% annualized return.
VTMGX
- 1D
- 0.26%
- 1M
- 6.03%
- YTD
- 15.89%
- 6M
- 19.15%
- 1Y
- 33.58%
- 3Y*
- 20.20%
- 5Y*
- 9.96%
- 10Y*
- 10.24%
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%
VTMGX vs. TCIEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTMGX Vanguard Developed Markets Index Fund Admiral Shares | 15.89% | 35.17% | 3.03% | 17.65% | -15.33% | 11.39% | 10.25% | 22.04% | -14.48% | 26.39% |
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 VTMGX and TCIEX is 0.95 - 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2003 | 0.97 |
The correlation between VTMGX and TCIEX has been stable across timeframes, ranging from 0.95 to 0.99 - a consistent structural relationship.
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Return for Risk
VTMGX vs. TCIEX — Risk / Return Rank
VTMGX
TCIEX
VTMGX vs. TCIEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Developed Markets Index Fund Admiral Shares (VTMGX) 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.
| VTMGX | TCIEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.26 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.81 | 1.89 | +0.92 |
| Martin ratioReturn relative to average drawdown | 10.88 | 7.06 | +3.82 |
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
| VTMGX | TCIEX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.17 | 1.42 | +0.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | 0.55 | +0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.62 | 0.57 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.41 | -0.10 |
Drawdowns
VTMGX vs. TCIEX - Drawdown Comparison
The maximum VTMGX drawdown since its inception was -60.58%, roughly equal to the maximum TCIEX drawdown of -59.27%. Use the drawdown chart below to compare losses from any high point for VTMGX and TCIEX.
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Drawdown Indicators
| VTMGX | TCIEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.58% | -59.27% | -1.31% |
Max Drawdown (1Y)Largest decline over 1 year | -11.67% | -11.35% | -0.32% |
Max Drawdown (3Y)Largest decline over 3 years | -13.18% | -13.58% | +0.40% |
Max Drawdown (5Y)Largest decline over 5 years | -29.71% | -29.25% | -0.46% |
Max Drawdown (10Y)Largest decline over 10 years | -35.68% | -33.58% | -2.10% |
Current DrawdownCurrent decline from peak | 0.00% | -0.49% | +0.49% |
Average DrawdownAverage peak-to-trough decline | -14.66% | -10.58% | -4.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.01% | 3.02% | -0.01% |
Volatility
VTMGX vs. TCIEX - Volatility Comparison
Vanguard Developed Markets Index Fund Admiral Shares (VTMGX) has a higher volatility of 4.97% compared to TIAA-CREF International Equity Index Fund Institutional Class (TCIEX) at 4.65%. This indicates that VTMGX's price experiences larger fluctuations and is considered to be riskier 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
| VTMGX | TCIEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.97% | 4.65% | +0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 12.53% | 12.25% | +0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.11% | 15.11% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.87% | 16.10% | -0.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.54% | 16.65% | -0.11% |
VTMGX vs. TCIEX - Expense Ratio Comparison
VTMGX has a 0.07% 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
VTMGX vs. TCIEX - Dividend Comparison
VTMGX's dividend yield for the trailing twelve months is around 2.58%, less 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% |
VTMGX Vanguard Developed Markets Index Fund Admiral Shares | 2.58% | 3.20% | 3.34% | 3.14% | 2.88% | 3.14% | 2.02% | 3.03% | 3.33% | 2.77% | 3.06% | 2.91% |
Frequently Asked Questions
With a correlation of 0.95, VTMGX and TCIEX 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.
VTMGX has higher volatility (4.97%) compared to TCIEX (4.65%). In terms of maximum drawdown, VTMGX dropped -60.58% vs TCIEX's -59.27%.
VTMGX currently has the higher Sharpe Ratio (2.17 vs 1.42), 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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