CREF Variable Annuity

CREF Bond Market Account (R1)


Unit Value


Day's Change


Portfolio Net Assets


Expense Charge

Expenses are estimated each year based on projected expense and asset levels. Differences between actual expenses and the estimate are adjusted quarterly and are reflected in current investment results.

The Account’s total annual expense deduction appears in the Account's prospectus, and may be different than that shown herein due to rounding. Please refer to the prospectus for further details.

30 Day
SEC Yield

The fund's 30-day SEC yield is based on yield to maturity of a fund's investments over a 30-day period and not on the dividends paid by the fund, which may differ.

Overall Morningstar Rating

The Overall Morningstar Rating is based on risk-adjusted return, and is a weighted average of the applicable 3-, 5-, and 10-year Ratings.

52 Week Range

0.1689 (0.14%)
$112.8458 - $118.0819
As of close 05/05/2016As of 04/30/2016As of 05/04/2016 
As of 04/30/2016
Based on risk adjusted returns

Portfolio Composition

Portfolio Composition provides details for the investments that constitute a particular fund.

Maturity Allocation

As of 03/31/2016

% of
Fixed Income Investments
0 - 1 Year6.91%
1 - 3 Years17.50%
3 - 5 Years24.49%
5 - 10 Years35.69%
10+ Years15.41%

Sector Weighting

As of 03/31/2016

% of
Net Assets
Corporate Bonds26.70%
Mortgage-Backed Securities (Includes MPT & CMOS)21.37%
U.S. Treasury Securities19.82%
Foreign Government & Corporate Bonds Denominated In U.S. Dollars12.83%
CMBS & Other Mortgage-Backed Securities7.71%
Asset-Backed Securities5.21%
Municipal Bonds2.09%
U.S. Agency Securities2.07%
Bank Loan Obligations0.68%
Preferred Stock0.04%
Short-Term Investments, Other Assets & Liabilities, Net1.48%

Asset Allocation

As of 03/31/2016

% of
Net Assets
U.S. Fixed Income85.45%
International Fixed Income13.03%
U.S. Equity0.04%
Short-Term Investments, Other Assets & Liabilities, Net1.48%
As of April 24, 2015, additional classes of CREF Accounts are available with different eligibility requirements. Please visit the account’s prospectus at for more information.
Portfolio statistics are for the Account’s Class R1 as indicated per as of dates above.
Investing in this account involves a number of risks, including interest rate risk, income volatility risk, credit risk, prepayment and extension risk, illiquid security risk, and foreign investment risks.
TIAA-CREF Individual & Institutional Services, LLC, Teachers Personal Investors Services, Inc., and Nuveen Securities, LLC, Members FINRA and SIPC, distribute securities products. Annuity contracts and certificates are issued by Teachers Insurance and Annuity Association of America (TIAA) and College Retirement Equities Fund (CREF), New York, NY. Investment products, insurance and annuity products: are not FDIC insured, are not bank guaranteed, are not deposits, are not insured by any federal government agency, are not a condition to any banking service or activity, and may lose value.

Fund Facts

Option-adjusted duration estimates how much the value of a bond portfolio would be affected by a change in prevailing interest rates. It takes into account options embedded in the individual securities that might result in early repayment of principal, thereby shortening their duration. The longer a portfolio's duration, the more sensitive it is to changes in interest rates.

Average Maturity refers to the average time to maturity (the date a principal amount of a security becomes due or payable) of all the debt securities held in a portfolio. A relatively short average maturity results in smaller price fluctuations in response to changes in market rates of interest. A short average maturity subjects the owner of a debt portfolio to the risk that maturing debt will be replaced with debt carrying a lower interest rate.

Total Number of Holdings

1,498As of 03/31/2016

Option-Adjusted Duration

5.43 YearsAs of 03/31/2016

Average Maturity

7.52 YearsAs of 03/31/2016