TIAA-CREF: Financial Services
 

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Brokerage Services
 800 927-3059
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Retail Class Mutual Funds
 800 223-1200
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Life Insurance or After-Tax Annuities
 800 223-1200
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 866 861-2249
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TIAA Direct is a division of TIAA-CREF Trust Co, FSB

© 2012 TIAA-CREF Trust company, FSB. Member FDIC

 
TIAA-CREF Mutual Funds

TIAA-CREF Bond Fund (Retail)

1TIORX
Invest >

Daily NAV

 

Day's Change

 

Portfolio Net Assets

 

Gross / Net Expense Ratio

 
Under the Fund’s expense reimbursement arrangements, the Fund’s investment adviser, Teachers Advisors, Inc., has contractually agreed to reimburse the Fund for any Total Annual Fund Operating Expenses (excluding interest, taxes, brokerage commissions or other transactional expenses, Acquired Fund Fees and Expenses and extraordinary expenses) that exceed: 0.70% of average daily net assets for Retail Class shares of the Fund. These expense reimbursement arrangements will continue through at least July 31, 2015, unless changed with approval of the Board of Trustees.
 
 

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

$10.81
 
0.02 (0.19%)
 
$2.80B
 
0.63% / 0.63%
 
2.18%
 
OVERALL
OUT OF 906 FUNDS
 
$10.55 - $10.90
As of close 03/27/2015As of 02/28/2015As of 03/26/2015 
As of 02/28/2015
Based on risk adjusted returns
 
04/02/2014
 
 
 
01/30/2015

Hypothetical Growth of $10,000 
The chart illustrates the performance of a hypothetical $10,000 investment made on the date indicated. The total returns are not adjusted to reflect sales charges or the effects of taxation, but are adjusted to reflect actual ongoing expenses, and assume reinvestment of dividends and capital gains, net of all recurring costs.
 

12/31/2011 - 12/31/2014

  • 3 Month
  • 6 Month
  • 1 Year
  • 3 Years
  • 5 Years
  • Since Inception

Portfolio Overview

  • Investment Strategy
  • Management Team
  • Video
  • Share Class

    Retail Class

  • Dividend Frequency

    Monthly

  • Redemption Fee

    --

  • Inception Date

    03/31/2006

  • Ticker

    TIORX

  • CUSIP

    886315712

The fund seeks a favorable long-term total return through income, primarily from investment-grade fixed-income securities. It typically invests at least 80% of its assets in bonds. The fund primarily invests in a broad range of investment-grade bonds and fixed-income securities, including, but not limited to, U.S. Government securities, corporate bonds and mortgage-backed or other asset-backed securities. The fund's investment adviser conducts its own credit analysis, paying particular attention to economic trends in an effort to identify securities that appear to be undervalued or overlooked and that offer the potential to boost returns above that of the index. The fund may invest in fixed-income securities of any duration. It may also invest up to 20% of its assets in fixed-income securities of foreign issuers, including emerging markets.


Joseph Higgins, CFA

Managing Director, Global Public Markets


John Cerra

Managing Director, Global Public Markets

Performance Returns 
Average annual total return is a hypothetical rate of return that, if achieved annually, would have produced the same cumulative total return if performance had been constant over the entire period. Average annual total returns smooth out variation in performance; they are not the same as actual year-by-year results. Also, it is the average annual profit or loss realized by an investment at the end of a specified calendar period, stated as the percentage gained or lost per dollar invested.
 

  • Monthly
  • Quarterly

The performance data quoted represents past performance, and is no guarantee of future results. Your returns and the principal value of your investment will fluctuate so that your accumulation units or shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted above. Performance may reflect waivers or reimbursements of certain expenses. Absent these waivers or reimbursement arrangements, performance results would have been lower. Since Inception performance shown is cumulative for funds that have less than one year of performance history. For investments with exceptional performance, please note that performance fluctuates and currently may be lower than noted here.

Portfolio Composition

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

Sector Weightings

As of 12/31/2014
% of
Net Assets
Corporate Bonds28.30%
Mortgage-Backed Securities (Includes MPT & CMOS)20.41%
Foreign Government And Corporate Bonds Denominated In U.S. Dollars13.29%
U.S. Treasury Securities13.23%
Asset-Backed Securities10.80%
CMBS7.54%
Municipal Bonds2.39%
Bank Loan Obligations1.59%
U.S. Agency Securities0.47%
Short-Term Investments, Other Assets & Liabilities, Net1.98%

Top 10 Holdings 
The top 10 holdings are subject to change and may not be representative of the fund's current or future investments. The holdings listed only include the fund's long-term investments and may exclude any temporary cash investments and equity index products. The holdings listed should not be considered a recommendation to buy or sell a particular security.
 

As of 12/31/2014
Market Value ($)% of
Net Assets
U.S. Treasury Note 2.250%, 11/15/2478.7M2.74%
U.S. Treasury Note 0.375%, 03/31/1648.0M1.67%
FNMA 3.000%, 02/25/4542.4M1.47%
U.S. Treasury Note 1.500%, 08/31/1838.9M1.36%
FNMA 3.500%, 02/25/4536.4M1.27%
FNMA 4.000%, 02/25/4534.1M1.19%
U.S. Treasury Note 0.375%, 04/30/1632.8M1.14%
Dominos Pizza Master Issuer LLC 5.216%, 01/25/4229.9M1.04%
U.S. Treasury Bond 4.500%, 02/15/3629.3M1.02%
U.S. Treasury Note 3.000%, 11/15/4429.0M1.01%

The risks that the fund is subject to include Interest Rate Risk, Prepayment Risk, Extension Risk, Issuer Risk, Income Volatility Risk, Credit Risk, Call Risk, Fixed-Income Foreign Investment Risk, Active Management Risk, Market Volatility, Liquidity and Valuation Risk, Mortgage Roll Risk, Downgrade Risk, Non-Investment-Grade Securities Risk, Derivatives Risk.

1The fund's Institutional Class began operations on July 1, 1999. Performance shown prior to the inception of the Retail Class is based on the performance of the fund's Institutional Class. Performance has not been restated to reflect the higher expenses of the Retail Class. If the expense differential had been reflected, performance for these periods would have been lower.

2The Barclays U.S. Aggregate Bond Index measures the performance of the U.S. investment-grade, fixed-rate bond market, including government and credit securities, agency mortgage pass-through securities, asset-backed securities and commercial mortgage-backed securities. You cannot invest directly in this index.

Morningstar is an independent service that rates mutual funds and variable annuities.

For each fund/account with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's/account's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Where applicable, Morningstar's performance rankings are based on linked performance that considers the differences in expense ratios, while actual performance data shown does not reflect such differences.

The top 10 percent of funds/accounts in a category receive five stars, the next 22.5 percent receive four stars, and the next 35 percent receive three stars, the next 22.5 percent receive two stars and the bottom 10 percent receive one star. (Each share class is counted as a fraction of one fund/account within this scale and rated separately, which may cause slight variations in the distribution percentages.) Morningstar proprietary ratings on U.S.-domiciled funds/accounts reflect historical risk-adjusted performance, are subject to change every month. They are derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. Please note, Morningstar now rates group variable annuities within the open-end mutual fund universe.

The information contained in these reports is the proprietary information of Morningstar, Inc., may not be copied or redistributed for any purpose and may only be used for non-commercial, personal purposes. Additionally, Morningstar, Inc. shall not be responsible for investment decisions, damages or other losses resulting from use of this information. Morningstar, Inc. has not granted consent for it to be considered or deemed an "expert" under the Securities Act of 1933.

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.

Key Differentiators

  • Seeks to add excess returns through security selection and sector rotation
  • Individual security selection determined through detailed, bottom-up company analysis, taking into account not only fundamentals, but also capital structure placement and relative value along the issuer’s credit curve
  • Experienced portfolio managers and senior investment professionals, including specialized credit and structured finance research teams, who are able to assess relative value within and across sectors
  • Careful attention to risk, including running daily risk analytics and performance attribution versus the Fund’s benchmark

Morningstar

 
A research company that rates the performance of Mutual Funds and Variable Annuities.
 

Morningstar Rating

  • OVERALL
    OUT OF 906 FUNDS
  • 3 YEAR
    OUT OF 906 FUNDS
  • 5 YEAR
    OUT OF 800 FUNDS
  • 10 YEAR
    OUT OF 587 FUNDS

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

Morningstar Category

Intermediate-Term Bond

Morningstar Risk Measures

RETURN VS. CATEGORY*AVG
  •  
  •  
  •  
  • LOW
  • AVG
  • HIGH

Investment Risk

 
Investment risk is usually related to the performance of an investment—riskier investments offer potentially higher returns—but are more volatile in the short-term. Beta (past price fluctuations), R-Squared (performance against benchmark index), and Standard Deviation (past volatility) are all used to calculate the degree of risk associated with individual investments.
 
 
LOWER
RISK
HIGHER
RISK

Level of risk is defined using the 3 Year Standard Deviation of the Investment.

Following risk measures below are based on a 3 Year period.

  • Standard Deviation

    2.92
  • R-Squared

    0.87
  • Sharpe Ratio

    1.21
  • Beta

    1.02
LEARN MORE ABOUT INVESTMENT RISK  

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TIAA-CREF: Financial Services
 

Retirement Plan and Individual Retirement Account (IRA)
 800 842-2252
 MONDAY - FRIDAY, 8 AM - 10 PM (ET)
 SATURDAY, 9 AM - 6 PM (ET)

Wealth Management Services
 866 842-3519
 MONDAY - FRIDAY, 8 AM - 10 PM (ET)
 SATURDAY, 9 AM - 6 PM (ET)

Brokerage Services
 800 927-3059
 MONDAY - FRIDAY, 8 AM - 7 PM (ET)

Retail Class Mutual Funds
 800 223-1200
 MONDAY - FRIDAY, 8 AM - 10 PM (ET)

Life Insurance or After-Tax Annuities
 800 223-1200
 MONDAY - FRIDAY, 8 AM - 6 PM (ET)

Plan Administrators
 866 861-2249
 MONDAY - FRIDAY, 8 AM - 5 PM (ET)