TIAA-CREF Managed Allocation Fund
Name
As of 05/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
2.0%
1 yr return
12.1%
3 Yr Avg Return
0.7%
5 Yr Avg Return
5.2%
Net Assets
$876 M
Holdings in Top 10
93.9%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.72%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 42.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$0
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
TITRX - Profile
Distributions
- YTD Total Return 2.0%
- 3 Yr Annualized Total Return 0.7%
- 5 Yr Annualized Total Return 5.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.48%
- Dividend Yield 1.8%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameTIAA-CREF Managed Allocation Fund
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Fund Family NameTIAA-CREF FUNDS COMPLEX
-
Inception DateMar 31, 2006
-
Shares OutstandingN/A
-
Share ClassR
-
CurrencyUSD
-
Domiciled CountryUS
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ManagerJohn Cunniff
Fund Description
The Fund is a “fund of funds” that invests in Institutional Class shares of other funds of the Trust and in other investment pools or investment products, including other funds or exchange-traded funds (“ETFs”) advised by the Fund’s investment adviser, Teachers Advisors, LLC (“Advisors”), or its affiliates (collectively, the “Underlying Funds”). The Fund invests in Underlying Funds according to a relatively stable asset allocation strategy and will generally seek to meet its investment objective by investing: (1) approximately 60.00% of its assets in equity Underlying Funds, including up to 5.00% of its assets in real estate Underlying Funds; and (2) approximately 40.00% of its assets in fixed-income Underlying Funds (“target allocations”).
The Fund may invest in the following equity Underlying Funds: TIAA-CREF Growth & Income Fund, TIAA-CREF Large-Cap Growth Fund, TIAA-CREF Large-Cap Value Fund, TIAA-CREF Quant International Small-Cap Equity Fund, TIAA-CREF Quant Small-Cap Equity Fund, TIAA-CREF Quant Small/Mid-Cap Equity Fund, TIAA-CREF Emerging Markets Equity Fund, TIAA-CREF International Equity Fund, TIAA-CREF International Opportunities Fund, TIAA-CREF Real Estate Securities Fund, Nuveen Dividend Growth Fund, Nuveen Dividend Value Fund and Nuveen Growth Opportunities ETF.
The Fund may invest in the following fixed-income Underlying Funds: TIAA-CREF Core Plus Bond Fund, TIAA-CREF High-Yield Fund, TIAA-CREF Inflation-Linked Bond Fund, TIAA-CREF International Bond Fund, TIAA-CREF Money Market Fund and TIAA-CREF Short-Term Bond Fund.
As a result of its investments in the Underlying Funds, the Fund’s returns will reflect investments in a mix of domestic and foreign equities of companies of various sizes and market capitalizations, real estate securities and a variety of domestic and foreign fixed-income instruments of private and governmental issuers of varying maturities and credit qualities. To maintain an appropriate allocation among the Underlying Funds, the portfolio managers monitor the foreign and domestic equity markets, as well as overall financial and economic conditions. If the portfolio managers believe that the relative attractiveness of the markets in which the equity and fixed-income funds are invested changes, they can adjust the percentage of investments in the Fund’s market sectors or Underlying Funds up or down by up to 10%; they may also invest in new market sectors or Underlying Funds without prior notice to shareholders. If 10% or more
of the Fund’s assets are expected to be invested in any Underlying Fund or market sector not listed above or in the chart below, shareholders will receive prior notice of such change. At any given time the Fund may hold between 0% to 5% of its assets in real estate funds. The Fund’s composite benchmark is a composite of three benchmark indices representing three types of market sectors within the equity and fixed-income Underlying Fund asset classes, i.e., domestic equity, international equity and fixed-income. The composite index is created by applying the results of the benchmark for each of these three market sectors in proportion to the Fund’s target allocations among the three market sectors. For more information about the different indices that comprise the Fund’s composite benchmark index, please see the “Additional information about the Fund’s composite index” section of this Prospectus.
The composition of the Fund’s fixed-income portion will vary depending on the shape of the yield curve. This means that when there is not much difference between the yield on short-term and long-term bonds, the Fund would normally increase its investments in the TIAA-CREF Short-Term Bond Fund. The Fund will have less than 5% of its assets in the TIAA-CREF High-Yield Fund.
The Fund might sometimes be even more heavily weighted toward equities or fixed-income, if Advisors believes market conditions warrant. For example, the Fund might increase its holdings in fixed-income funds in periods when Advisors believes equity markets will decline.
As part of the Fund’s ability to invest in other investment pools or investment products noted above, the Fund may invest in ETFs and exchange-traded notes (“ETNs”). The Fund may use investments in ETFs and ETNs to gain exposure to various market sectors or securities in order to effect its asset allocation strategy. Additionally, the Fund may use ETFs and ETNs for cash management, hedging or defensive purposes. ETFs and ETNs will be subject to the risks associated with the types of securities or sectors that they track, while ETNs, which are structured as fixed-income obligations, will also be subject to the general risks of fixed-income securities, including credit risk.
For flexibility in meeting redemptions, expenses and the timing of new investments, and as a short-term defense during periods of unusual volatility, the Fund may invest in government securities (as defined in the Investment Company Act of 1940, as amended (the “1940 Act”)), short-term paper or shares of the TIAA-CREF Money Market Fund. For temporary defensive purposes, the Fund may invest without limitation in such securities. The Fund cannot guarantee that this strategy will be successful.
The Fund’s asset class allocations, market sector allocations within each asset class, and Underlying Fund allocations within each market sector, as of June 30, 2023, are listed in the chart below. These allocations may change over time. Underlying Fund allocations in particular may change from year to year.
Asset Class | Allocation |
| Market Sector | Allocation | Underlying Funds | Allocation | |
Equity | 60.52% | U.S. Equity | 39.42% | Nuveen Growth Opportunities ETF | 6.59% | ||
TIAA-CREF Large-Cap Growth | 6.55% | ||||||
TIAA-CREF Large-Cap Value | 5.87% | ||||||
Nuveen Dividend Value | 5.84% | ||||||
TIAA-CREF Growth & Income | 5.74% | ||||||
Nuveen Dividend Growth | 5.68% | ||||||
TIAA-CREF Quant Small/Mid-Cap Equity | 1.71% | ||||||
TIAA-CREF Quant Small-Cap Equity | 1.44% | ||||||
International Equity | 21.10% | TIAA-CREF International Equity | 9.18% | ||||
TIAA-CREF International Opportunities | 5.47% | ||||||
TIAA-CREF Emerging Markets Equity | 3.56% | ||||||
TIAA-CREF Quant International Small-Cap Equity | 2.89% | ||||||
Fixed-Income | 39.48% | Fixed-Income | 39.48% | TIAA-CREF Core Plus Bond | 39.48% |
Total | 100.00% | 100.00% | 100.00% |
TITRX - Performance
Return Ranking - Trailing
Period | TITRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.0% | -1.3% | 18.7% | 58.33% |
1 Yr | 12.1% | -4.9% | 39.3% | 39.41% |
3 Yr | 0.7%* | -7.1% | 7.1% | 71.51% |
5 Yr | 5.2%* | -4.1% | 13.6% | 74.32% |
10 Yr | 5.6%* | 0.4% | 10.4% | 55.34% |
* Annualized
Return Ranking - Calendar
Period | TITRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 13.1% | -12.2% | 23.9% | 22.77% |
2022 | -23.0% | -34.7% | 0.0% | 86.51% |
2021 | -1.5% | -11.9% | 18.1% | 89.47% |
2020 | 6.0% | -20.9% | 39.7% | 64.54% |
2019 | 13.9% | 0.8% | 25.7% | 49.92% |
Total Return Ranking - Trailing
Period | TITRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.0% | -1.3% | 18.7% | 58.33% |
1 Yr | 12.1% | -4.9% | 39.3% | 39.41% |
3 Yr | 0.7%* | -7.1% | 7.1% | 71.51% |
5 Yr | 5.2%* | -4.1% | 13.6% | 74.32% |
10 Yr | 5.6%* | 0.4% | 10.4% | 55.34% |
* Annualized
Total Return Ranking - Calendar
Period | TITRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 16.1% | -12.2% | 26.8% | 23.20% |
2022 | -17.1% | -29.0% | 10.9% | 85.65% |
2021 | 9.8% | -3.0% | 24.2% | 83.09% |
2020 | 15.0% | -19.5% | 40.6% | 28.93% |
2019 | 16.2% | 4.4% | 32.7% | 85.60% |
NAV & Total Return History
TITRX - Holdings
Concentration Analysis
TITRX | Category Low | Category High | TITRX % Rank | |
---|---|---|---|---|
Net Assets | 876 M | 789 K | 217 B | 53.87% |
Number of Holdings | 14 | 2 | 15716 | 81.90% |
Net Assets in Top 10 | 823 M | 618 K | 62.8 B | 42.72% |
Weighting of Top 10 | 93.92% | 11.3% | 121.1% | 21.78% |
Top 10 Holdings
- TIAA-CREF Core Plus Bond Fund 38.56%
- TIAA-CREF International Equity Fund 9.27%
- Nuveen Growth Opportunities ETF 7.09%
- TIAA-CREF Large-Cap Growth Fund 7.01%
- TIAA-CREF Growth Income Fund 5.89%
- Nuveen Dividend Growth Fund 5.76%
- TIAA-CREF Large-Cap Value Fund 5.69%
- Nuveen Dividend Value Fund 5.68%
- TIAA-CREF International Opportunities Fund 5.51%
- TIAA-CREF Emerging Markets Equity Fund 3.47%
Asset Allocation
Weighting | Return Low | Return High | TITRX % Rank | |
---|---|---|---|---|
Stocks | 99.86% | 0.00% | 103.09% | 16.97% |
Convertible Bonds | 0.97% | 0.00% | 23.84% | 27.88% |
Cash | 0.12% | -10.21% | 100.00% | 77.09% |
Other | 0.02% | -42.80% | 46.03% | 47.95% |
Preferred Stocks | 0.00% | 0.00% | 23.88% | 92.22% |
Bonds | 0.00% | 0.00% | 77.27% | 95.05% |
Stock Sector Breakdown
Weighting | Return Low | Return High | TITRX % Rank | |
---|---|---|---|---|
Technology | 20.47% | 0.00% | 44.21% | 41.88% |
Financial Services | 14.61% | 0.00% | 38.77% | 50.28% |
Healthcare | 13.89% | 0.00% | 29.35% | 52.71% |
Consumer Cyclical | 11.97% | 0.00% | 19.36% | 15.81% |
Industrials | 11.42% | 0.00% | 24.37% | 28.77% |
Consumer Defense | 7.25% | 0.00% | 15.14% | 34.05% |
Communication Services | 5.69% | 0.00% | 38.10% | 83.05% |
Energy | 5.51% | 0.00% | 85.65% | 36.75% |
Basic Materials | 4.79% | 0.00% | 33.35% | 26.92% |
Utilities | 2.22% | 0.00% | 99.55% | 78.63% |
Real Estate | 2.18% | 0.00% | 65.01% | 76.50% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | TITRX % Rank | |
---|---|---|---|---|
US | 99.86% | 0.00% | 103.09% | 16.97% |
Non US | 0.00% | 0.00% | 38.68% | 91.37% |
TITRX - Expenses
Operational Fees
TITRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.72% | 0.03% | 17.63% | 75.11% |
Management Fee | 0.00% | 0.00% | 1.50% | 15.33% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.83% | 94.33% |
Sales Fees
TITRX 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
TITRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.00% | 2.00% | N/A |
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.
TITRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 42.00% | 0.00% | 343.00% | 52.57% |
TITRX - Distributions
Dividend Yield Analysis
TITRX | Category Low | Category High | TITRX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.77% | 0.00% | 18.10% | 34.60% |
Dividend Distribution Analysis
TITRX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | SemiAnnual | Monthly | SemiAnnual |
Net Income Ratio Analysis
TITRX | Category Low | Category High | TITRX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.48% | -2.34% | 19.41% | 31.51% |
Capital Gain Distribution Analysis
TITRX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Monthly | Semi-Monthly |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 22, 2024 | $0.052 | OrdinaryDividend |
Dec 15, 2023 | $0.157 | OrdinaryDividend |
Sep 22, 2023 | $0.049 | OrdinaryDividend |
Jun 16, 2023 | $0.045 | OrdinaryDividend |
Mar 17, 2023 | $0.046 | OrdinaryDividend |
Dec 16, 2022 | $0.700 | OrdinaryDividend |
Sep 26, 2022 | $0.040 | OrdinaryDividend |
Jun 17, 2022 | $0.035 | OrdinaryDividend |
Mar 18, 2022 | $0.015 | OrdinaryDividend |
Sep 17, 2021 | $0.034 | OrdinaryDividend |
Jun 18, 2021 | $0.029 | OrdinaryDividend |
Mar 19, 2021 | $0.032 | OrdinaryDividend |
Sep 18, 2020 | $0.030 | OrdinaryDividend |
Jun 19, 2020 | $0.033 | OrdinaryDividend |
Mar 20, 2020 | $0.036 | OrdinaryDividend |
Dec 13, 2019 | $0.151 | OrdinaryDividend |
Sep 20, 2019 | $0.029 | OrdinaryDividend |
Jun 12, 2019 | $0.036 | OrdinaryDividend |
Mar 22, 2019 | $0.037 | OrdinaryDividend |
Sep 21, 2018 | $0.037 | OrdinaryDividend |
Jun 22, 2018 | $0.037 | OrdinaryDividend |
Mar 23, 2018 | $0.035 | OrdinaryDividend |
Sep 22, 2017 | $0.037 | OrdinaryDividend |
Jun 23, 2017 | $0.031 | OrdinaryDividend |
Mar 24, 2017 | $0.056 | OrdinaryDividend |
Sep 23, 2016 | $0.031 | OrdinaryDividend |
Jun 24, 2016 | $0.033 | OrdinaryDividend |
Mar 18, 2016 | $0.040 | OrdinaryDividend |
Sep 25, 2015 | $0.032 | OrdinaryDividend |
Jun 26, 2015 | $0.029 | OrdinaryDividend |
Mar 27, 2015 | $0.035 | OrdinaryDividend |
Sep 26, 2014 | $0.029 | OrdinaryDividend |
Jun 27, 2014 | $0.030 | OrdinaryDividend |
Mar 28, 2014 | $0.038 | OrdinaryDividend |
Sep 20, 2013 | $0.026 | OrdinaryDividend |
Jun 21, 2013 | $0.028 | OrdinaryDividend |
Mar 22, 2013 | $0.037 | OrdinaryDividend |
Sep 28, 2012 | $0.027 | OrdinaryDividend |
Jun 29, 2012 | $0.030 | OrdinaryDividend |
Mar 30, 2012 | $0.039 | OrdinaryDividend |
Dec 16, 2011 | $0.141 | OrdinaryDividend |
Sep 23, 2011 | $0.032 | OrdinaryDividend |
Jun 24, 2011 | $0.036 | OrdinaryDividend |
Mar 25, 2011 | $0.044 | OrdinaryDividend |
Dec 17, 2010 | $0.133 | OrdinaryDividend |
Sep 24, 2010 | $0.032 | OrdinaryDividend |
Jun 25, 2010 | $0.039 | OrdinaryDividend |
Mar 26, 2010 | $0.048 | OrdinaryDividend |
Dec 18, 2009 | $0.095 | OrdinaryDividend |
Sep 25, 2009 | $0.039 | OrdinaryDividend |
Jun 26, 2009 | $0.037 | OrdinaryDividend |
Mar 27, 2009 | $0.041 | OrdinaryDividend |
Dec 19, 2008 | $0.111 | OrdinaryDividend |
Sep 29, 2008 | $0.049 | OrdinaryDividend |
Jun 27, 2008 | $0.042 | OrdinaryDividend |
Mar 28, 2008 | $0.045 | OrdinaryDividend |
Dec 21, 2007 | $0.177 | OrdinaryDividend |
Sep 26, 2007 | $0.024 | OrdinaryDividend |
Jun 27, 2007 | $0.036 | OrdinaryDividend |
Mar 28, 2007 | $0.224 | OrdinaryDividend |
Dec 22, 2006 | $0.226 | OrdinaryDividend |
Sep 27, 2006 | $0.048 | OrdinaryDividend |
Jun 28, 2006 | $0.037 | OrdinaryDividend |
TITRX - Fund Manager Analysis
Managers
John Cunniff
Start Date
Tenure
Tenure Rank
Mar 31, 2006
16.18
16.2%
John Cunniff is a managing director and Lifecycle portfolio manager for the TIAA organization. Mr. Cunniff currently manages investment strategies for TIAA’s Lifecycle and Managed Allocation portfolios. He joined the TIAA organization in 2006. Mr. Cunniff has 25 years of industry experience. Previously, he served as director of U.S. research at Morgan Stanley Investment Management and as a portfolio manager for both Van Kampen Investments and Franklin Templeton Investments. Mr. Cunniff earned a B.S. from Johns Hopkins University, an M.S.E. from Princeton University, and an M.B.A. from Columbia University. He is a member of the New York Society of Securities Analysts
Hans Erickson
Start Date
Tenure
Tenure Rank
Mar 31, 2006
16.18
16.2%
Erickson has been serving for Teachers Advisors Inc. as a managing director since 1996. Prior to that, Erickson joined Templeton Quantitative Advisers in 1990. Erickson was employed by Anderson Consulting from May 1989 through February 1990 and Morgan Stanley from June 1988 through May 1989.
Steve Sedmak
Start Date
Tenure
Tenure Rank
Sep 30, 2020
1.67
1.7%
Steve Sedmak is a Senior Director on the Multi-Asset Investment Team at TIAA Investments, focusing on Lifecycle and other multi-asset strategies. Steve joined TIAA in 2016 and has 17 years of industry experience. Prior to joining TIAA, he served as Head of Portfolio Implementation for the Multi-Asset Strategies group at Voya Investment Management. He also served as a Portfolio Manager on the Quantitative Equity team at Voya. Prior to joining Voya, Steve had multiple roles in portfolio trading at Stifel Nicolaus, Legg Mason, and CIBC World Markets. Steve earned a B.S. in Business Administration and a B.A. in Mathematics from the University of Southern California, and holds a M.S. in Mathematics of Finance from New York University. Steve holds the CFA designation and is a member of the Chicago Quantitative Alliance.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 34.51 | 6.34 | 2.41 |