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Trending ETFs

Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.69

$1.99 B

6.16%

$0.54

0.36%

Vitals

YTD Return

1.5%

1 yr return

12.6%

3 Yr Avg Return

2.6%

5 Yr Avg Return

3.6%

Net Assets

$1.99 B

Holdings in Top 10

10.4%

52 WEEK LOW AND HIGH

$8.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.36%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 70.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$2,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$8.69

$1.99 B

6.16%

$0.54

0.36%

TIHYX - Profile

Distributions

  • YTD Total Return 1.5%
  • 3 Yr Annualized Total Return 2.6%
  • 5 Yr Annualized Total Return 3.6%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 4.67%
DIVIDENDS
  • Dividend Yield 6.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    TIAA-CREF High-Yield Fund
  • Fund Family Name
    TIAA-CREF FUNDS COMPLEX
  • Inception Date
    Mar 31, 2006
  • Shares Outstanding
    N/A
  • Share Class
    Instl
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Kevin Lorenz

Fund Description

The Fund invests primarily in lower-rated, higher-yielding fixed-income securities, such as domestic and foreign corporate bonds, debentures, senior loans, loan participations and assignments and notes, as well as convertible and preferred securities. Under normal circumstances, the Fund invests at least 80% of its assets in debt and other fixed-income securities rated lower than investment-grade (and their unrated equivalents) or other high-yielding debt securities. These are often called “junk bonds” and are speculative in nature. Most of these will be securities rated in the BB or B categories by S&P, or the Ba or B categories by Moody’s. For purposes of the 80% investment policy, the term “assets” means net assets, plus the amount of any borrowings for investment purposes.

The Fund may invest up to 20% of its assets in the following types of instruments: payment-in-kind or deferred-interest obligations, defaulted securities, asset-backed securities, securities rated lower than B- or its equivalent by at least two rating agencies and securities having limited liquidity.

The Fund can make foreign investments, but the Fund does not expect such investments to exceed 20% of its assets under most circumstances. The Fund can also invest in U.S. Treasury and agency securities or other short-term instruments when other suitable investment opportunities are not available, or when Teachers Advisors, LLC (“Advisors”) would like to build the Fund’s liquidity.

Over long periods of time, a broadly diversified portfolio of lower-rated, higher-yielding securities is designed to, net of capital losses, provide a higher net return than a similarly diversified portfolio of higher-rated, lower-yielding securities of similar duration. Advisors attempts to minimize the risks of investing in lower-rated securities by:

·Doing its own credit analysis (independent of the rating agencies). The Fund buys securities of issuers with a balance of operational and financial risks that Advisors believes make it likely that such issuers will be able to meet their financial obligations;

·Constructing a portfolio of securities diversified by industry, maturity, duration and credit quality; and

·Buying or selling particular securities to seek to take advantage of anticipated changes and trends in the economy and financial markets.

Advisors’ judgment of the value of any particular security is a function of its experience with lower-rated securities, evaluation of general economic and securities market conditions and the financial condition of the security’s issuer. Under some market conditions, the Fund may sacrifice potential yield in order to adopt a defensive posture designed to preserve capital.

The Fund may purchase and sell futures, options, swaps, forwards and other fixed-income derivative instruments to carry out the Fund’s investment strategies.

The benchmark index for the Fund is the ICE BofA BB-B U.S. Cash Pay High Yield Constrained Index.

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TIHYX - Performance

Return Ranking - Trailing

Period TIHYX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.5% -4.9% 8.2% 41.97%
1 Yr 12.6% -4.3% 26.0% 21.44%
3 Yr 2.6%* -15.6% 20.6% 25.00%
5 Yr 3.6%* -11.2% 37.3% 42.31%
10 Yr 3.7%* -4.7% 19.5% 29.88%

* Annualized

Return Ranking - Calendar

Period TIHYX Return Category Return Low Category Return High Rank in Category (%)
2023 6.1% -4.7% 14.3% 23.76%
2022 -14.6% -33.4% 3.6% 33.54%
2021 0.0% -8.4% 14.9% 51.22%
2020 -3.0% -13.9% 302.7% 92.77%
2019 9.8% -4.4% 13.3% 10.17%

Total Return Ranking - Trailing

Period TIHYX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.5% -4.9% 8.2% 41.97%
1 Yr 12.6% -4.3% 26.0% 21.44%
3 Yr 2.6%* -15.6% 20.6% 25.00%
5 Yr 3.6%* -11.2% 37.3% 42.31%
10 Yr 3.7%* -4.7% 19.5% 29.88%

* Annualized

Total Return Ranking - Calendar

Period TIHYX Return Category Return Low Category Return High Rank in Category (%)
2023 13.6% -4.7% 18.7% 15.37%
2022 -9.5% -33.4% 47.8% 29.47%
2021 5.2% -8.4% 24.8% 44.54%
2020 2.7% -9.6% 325.6% 86.05%
2019 16.9% -3.8% 21.5% 4.83%

NAV & Total Return History


TIHYX - Holdings

Concentration Analysis

TIHYX Category Low Category High TIHYX % Rank
Net Assets 1.99 B 1.85 M 22.6 B 20.89%
Number of Holdings 274 2 2736 63.43%
Net Assets in Top 10 202 M -492 M 4.45 B 29.78%
Weighting of Top 10 10.39% 4.2% 149.6% 74.07%

Top 10 Holdings

  1. State Street Navigator Securities Lending Government Money Market Portfolio 1.58%
  2. Venture Global LNG, Inc 1.08%
  3. CDI Escrow Issuer, Inc 1.05%
  4. CCO Holdings LLC 1.02%
  5. Talen Energy Supply LLC 1.01%
  6. Prime Security Services Borrower LLC 0.95%
  7. Ferrellgas LP 0.93%
  8. Imola Merger Corp 0.93%
  9. USA Compression Partners LP 0.92%
  10. VZ Secured Financing BV 0.92%

Asset Allocation

Weighting Return Low Return High TIHYX % Rank
Bonds
95.08% -3.13% 154.38% 47.16%
Stocks
2.56% 0.00% 99.61% 27.19%
Cash
2.04% -52.00% 49.49% 80.56%
Other
0.63% -63.70% 102.57% 17.59%
Convertible Bonds
0.38% 0.00% 17.89% 84.26%
Preferred Stocks
0.00% 0.00% 8.06% 81.48%

Stock Sector Breakdown

Weighting Return Low Return High TIHYX % Rank
Utilities
0.00% 0.00% 100.00% 90.73%
Technology
0.00% 0.00% 33.17% 90.15%
Real Estate
0.00% 0.00% 86.71% 90.15%
Industrials
0.00% 0.00% 93.12% 37.26%
Healthcare
0.00% 0.00% 22.17% 24.71%
Financial Services
0.00% 0.00% 100.00% 91.12%
Energy
0.00% 0.00% 100.00% 15.06%
Communication Services
0.00% 0.00% 99.99% 50.39%
Consumer Defense
0.00% 0.00% 100.00% 90.93%
Consumer Cyclical
0.00% 0.00% 100.00% 91.89%
Basic Materials
0.00% 0.00% 100.00% 93.24%

Stock Geographic Breakdown

Weighting Return Low Return High TIHYX % Rank
US
2.56% 0.00% 99.61% 27.31%
Non US
0.00% -0.01% 0.83% 70.83%

Bond Sector Breakdown

Weighting Return Low Return High TIHYX % Rank
Corporate
97.15% 0.00% 129.69% 27.36%
Cash & Equivalents
2.04% 0.00% 49.49% 60.80%
Derivative
0.00% -15.04% 42.26% 64.97%
Securitized
0.00% 0.00% 97.24% 83.46%
Municipal
0.00% 0.00% 4.66% 66.92%
Government
0.00% 0.00% 99.07% 75.89%

Bond Geographic Breakdown

Weighting Return Low Return High TIHYX % Rank
US
95.08% -3.13% 129.21% 35.65%
Non US
0.00% 0.00% 97.33% 77.31%

TIHYX - Expenses

Operational Fees

TIHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.36% 0.04% 31.61% 96.45%
Management Fee 0.34% 0.00% 1.84% 6.77%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.00% 0.50% N/A

Sales Fees

TIHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

TIHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 65.31%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

TIHYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 70.00% 1.00% 255.00% 66.72%

TIHYX - Distributions

Dividend Yield Analysis

TIHYX Category Low Category High TIHYX % Rank
Dividend Yield 6.16% 0.00% 35.52% 44.02%

Dividend Distribution Analysis

TIHYX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Monthly

Net Income Ratio Analysis

TIHYX Category Low Category High TIHYX % Rank
Net Income Ratio 4.67% -2.39% 14.30% 36.11%

Capital Gain Distribution Analysis

TIHYX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

TIHYX - Fund Manager Analysis

Managers

Kevin Lorenz


Start Date

Tenure

Tenure Rank

Mar 31, 2006

16.18

16.2%

Kevin is a portfolio manager for Nuveen’s global fixed income team and heads the leveraged finance sector team, which selects high yield and leveraged loan securities for all portfolios. He is also the lead portfolio manager for the High Yield strategies, co-manager of the Multi-Sector Bond strategy and a member of the Investment Committee, which establishes investment policy for all global fixed income products. Kevin has served in a variety of roles since joining the firm in 1987. He has been investing in high yield over his entire career and has focused exclusively on high yield since 1995. He began his career at the firm as a generalist focusing on the private placement market. Kevin has been quoted in The New York Times, Barron’s, The Wall Street Journal, Reuters and other financial press as well as appearances on CNBC for his seasoned views on the high yield asset class. Kevin graduated with a B.S. in Accounting from Rider University and an M.B.A. in Finance from Indiana University. He holds the CFA designation and is a member of the New York Society of Security Analysts. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

Jean Lin


Start Date

Tenure

Tenure Rank

Oct 01, 2011

10.67

10.7%

Jean C. Lin, CFA, entered the financial services industry in 1994. She joined Nuveen Asset Management, LLC as Managing Director, Portfolio Manager and High-Yield Research Analyst in September 2018. She also serves as Managing Director, Portfolio Manager and High-Yield Research Analyst for Teachers Advisors, LLC, TIAA-CREF Investment Management, LLC and other advisory affiliates of TIAA. She joined TIAA in 1994.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.13 37.79 7.12 8.17