Mutual Funds and In-Plan Annuities

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96%
Products with 3+ Morningstar Stars* (29.33% have 3 stars, 45.33% have 4 stars and 21.33% have 5 stars), based on risk-adjusted returns as of December 31, 2016.)
 

82%
Of TIAA-CREF Funds and Variable Annuity Accounts have expense ratios that are in the bottom quartile (or 100% below median) of their respective Morningstar category**
4
2013, 2014, 2015, and 2016 Winner of Thomson Reuters Lipper Best Overall Large Fund Company***

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* Morningstar ratings are based on each mutual fund or variable annuity account’s lowest-cost share class and include U.S. open-end mutual funds, CREF Variable Accounts and the Life Funds. For a fund or account with multiple share classes and the same pricing, the share class with the longest performance history is used. The Morningstar Rating™ – or “star rating” – is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. The rating is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. Morningstar ratings may be higher or lower on a monthly basis. The top 10% of funds or accounts in each product category receive five stars, the next 22.5% receive four stars and the next 35% receive three stars. The overall star ratings are Morningstar’s published ratings, which are derived from weighted averages of the performance figures associated with the three-, five-, and 10-year (if applicable) Morningstar rating metrics for the period ended December 31, 2016. Morningstar is an independent service that rates mutual funds. Past performance cannot guarantee future results. For current performance and ratings, please visit TIAA.org/public/investment-performance.

** Applies to mutual fund and variable annuity expense ratios. Source: Morningstar Direct, December 31, 2016. Based on Morningstar data, the expense ratios on all TIAA-CREF Funds and Variable Annuity Accounts managed by TIAA-CREF are generally less than half the U.S. fund industry average (59% are less than half the Morningstar U.S. Fund Universe average and 50% are less than half the Morningstar U.S. Fund Universe median.) Our mutual fund and variable annuity products are subject to various fees and expenses, including but limited to management, administrative, and distribution fees; our variable annuity products have an additional mortality and expense risk charge.

*** The Lipper Large Fund Award is given to the group with the lowest average decile ranking of three years’ Consistent Return for eligible funds over the three-year period ended 11/30/12, 11/30/13, 11/30/14 and 11/30/15 respectively. TIAA was ranked among 36 fund companies in 2012 48 fund companies in 2013 and 2014 and 37 fund companies in 2015 with at least five equity, five bond, or three mixed-asset portfolios. Classification averages are calculated with all eligible share classes for each eligible classification. The calculation periods extend over 36, 60, and 120 months. The highest Lipper Leader for Consistent Return (Effective Return) value within each eligible classification determines the fund classification winner over three, five, or ten years. A detailed awards methodology can be found at http://excellence.thomsonreuters.com/award/lipper. From Thomson Reuters Lipper Awards, ©2016 Thomson Reuters. All rights reserved. Used by permission and protected by the Copyright Laws of the United States. The printing, copying, redistribution, or retransmission of this Content without express written permission is prohibited. Certain funds have fee waivers in effect. Without such waivers ratings could be lower. For current performance and rankings, please visit the Research and Performance section on TIAA.org. Past performance does not guarantee future results.


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