TIAA-CREF Mutual Funds

TIAA-CREF Short-Term Bond Fund (Retail)

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Daily NAV


Day's Change


Portfolio Net Assets


Gross / Net Expense Ratio


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

0.01 (0.10%)
0.58% / 0.58%
$10.29 - $10.41
As of close 02/08/2016As of 01/31/2016As of 02/05/2016 
As of 01/31/2016
Based on risk adjusted returns

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.

12/31/2012 - 12/31/2015

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

Portfolio Overview

  • Investment Strategy
  • Management Team
  • Class

    Retail Class

  • Dividend Frequency


  • Redemption Fee


  • Inception Date


  • Ticker




The fund seeks high current income. It typically invests at least 80% of its assets in U.S. Treasury and agency securities and investment-grade corporate bonds with an average maturity of less than five years. The fund may overweight or underweight individual securities or sectors, compared to their weight in the index, when the portfolio managers find undervalued or overlooked issues that they believe offer the potential for superior returns. Although it may invest in fixed-income securities of any maturity, the duration of the fund's portfolio typically ranges between one and three years. The fund may also invest up to 20% of its assets in fixed-income securities of foreign issuers, including emerging markets.

John Cerra

Managing Director, Global Public Markets, Portfolio Management

Richard Cheng

Managing Director, Fixed Income Portfolio Management

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

Portfolio Composition

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

Sector Weightings

As of 12/31/2015
% of
Net Assets
Corporate Bonds25.22%
Foreign Government And Corporate Bonds Denominated In U.S. Dollars18.65%
U.S. Treasury Securities12.43%
Asset-Backed Securities9.71%
U.S. Agency Securities3.72%
Bank Loan Obligations3.48%
Mortgage-Backed Securities (Includes MPT & CMOS)1.19%
Municipal Bonds0.37%
Short-Term Investments, Other Assets & Liabilities, Net2.50%

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. Top holdings by issuer includes the underlying ordinary shares combined with any depositary receipts, preferred shares, contract for differences (CFDs), rights, options and warrants as applicable.

As of 12/31/2015
Market Value ($)% of
Net Assets
U.S. Treasury Note 0.625%, 02/15/1731.4M2.09%
U.S. Treasury Note 0.625%, 08/15/1626.3M1.75%
U.S. Treasury Note 1.625%, 11/30/2022.7M1.51%
U.S. Treasury Inflation Indexed Bonds 0.125%, 04/15/2022.0M1.47%
International Finance Facility for Immunisation 0.803%, 07/05/1620.0M1.33%
U.S. Treasury Note 1.250%, 12/15/1816.4M1.09%
Countrywide Asset-Backed Certificates 1.007%, 06/25/3515.6M1.04%
Bank of Nova Scotia 2.125%, 09/11/1915.0M1.00%
U.S. Treasury Note 0.625%, 12/31/1615.0M1.00%
KFW 1.875%, 11/30/2014.9M0.99%
The Fund is subject to interest rate risk and credit risk. In addition, mortgage-backed securities in which the fund may invest are subject to extension risk and prepayment risk.
1The Barclays U.S. 1-3 Year Government/Credit Bond Index measures the performance primarily of U.S. Treasury and agency and corporate bonds with 1- to 3-year maturities. The securities in the index must be rated investment-grade or higher by at least two rating agencies. You cannot invest directly in any index. Index returns do not reflect a deduction for fees or expenses.
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.


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

Morningstar Rating

    OUT OF 490 FUNDS
  • 3 YEAR
    OUT OF 490 FUNDS
  • 5 YEAR
    OUT OF 403 FUNDS
  • 10 YEAR

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

Short-Term Bond

Morningstar Risk Measures

  • 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.

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

  • R-Squared

  • Sharpe Ratio

  • Beta