TIAA-CREF Lifecycle Retirement Income Fund
Name
As of 04/16/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
0.7%
1 yr return
7.0%
3 Yr Avg Return
0.2%
5 Yr Avg Return
4.2%
Net Assets
$437 M
Holdings in Top 10
78.3%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.82%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 41.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$2,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/16/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
TLRRX - Profile
Distributions
- YTD Total Return 0.7%
- 3 Yr Annualized Total Return 0.2%
- 5 Yr Annualized Total Return 4.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.62%
- Dividend Yield 5.6%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameTIAA-CREF Lifecycle Retirement Income Fund
-
Fund Family NameTIAA-CREF FUNDS COMPLEX
-
Inception DateNov 30, 2007
-
Shares OutstandingN/A
-
Share ClassIndividual
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJohn Cunniff
Fund Description
The Fund is a “fund of funds” that invests in Class W 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 that will not gradually adjust over time and is designed for investors who are already in retirement (i.e., have already passed their retirement year) and may have begun taking systematic withdrawals upon retirement.
Advisors currently expects to allocate approximately 35.00% of the Fund’s assets to equity Underlying Funds, 60.00% of its assets to fixed-income
Underlying Funds and 5.00% of its assets to direct real estate Underlying Funds. These allocations represent targets for equity, fixed-income and direct real estate asset classes. Target allocations may be changed and actual allocations may vary up to ten percentage points from the targets. Within the equity, fixed-income and direct real estate asset classes, Advisors allocates the Fund’s investments to particular market sectors (U.S. equity, international equity, fixed-income, short-term fixed-income, inflation-protected assets and direct real estate) represented by various Underlying Funds. These market sector allocations may vary by up to 10% from the Fund’s target market sector allocations. The Fund’s current target market sector allocations for June 30, 2024 which may change, are approximately as follows: U.S. Equity: 22.75%; International Equity: 12.25%; Fixed-Income: 40.00%; Short-Term Fixed-Income: 10.00%; Inflation-Protected Assets: 10.00%; and Direct Real Estate: 5.00%. The asset class and market sector names used herein are intended to reflect the primary type of investment of the Underlying Funds within each of these categories.
The Fund’s target market sector allocations to Underlying Funds may include the TIAA-CREF Growth & Income Fund, TIAA-CREF Large-Cap Growth Fund, TIAA-CREF Large-Cap Value Fund, TIAA-CREF Quant Small-Cap Equity Fund, TIAA-CREF Quant Small/Mid-Cap Equity Fund, Nuveen Dividend Growth Fund, Nuveen Dividend Value Fund and Nuveen Growth Opportunities ETF (U.S. Equity); TIAA-CREF Emerging Markets Equity Fund, TIAA-CREF International Equity Fund, TIAA-CREF International Opportunities Fund and TIAA-CREF Quant International Small-Cap Equity Fund (International Equity); TIAA-CREF Core Bond Fund, TIAA-CREF Core Plus Bond Fund, TIAA-CREF Emerging Markets Debt Fund, TIAA-CREF High-Yield Fund and TIAA-CREF International Bond Fund (Fixed-Income); TIAA-CREF Money Market Fund and TIAA-CREF Short-Term Bond Fund (Short-Term Fixed-Income); TIAA-CREF Inflation-Linked Bond Fund (Inflation-Protected Assets); and TIAA-CREF Real Property Fund LP (Direct Real Estate). TIAA-CREF Real Property Fund LP is a private fund, which is not available for investment by the general public; it is currently offered exclusively to investment pools or investment products managed by Advisors or its affiliates.
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, a variety of domestic and foreign fixed-income instruments of private and governmental issuers of varying maturities and credit qualities and direct real estate.
Additional or replacement Underlying Funds for each market sector, as well as additional or replacement market sectors, may be included when making future allocations if Advisors believes that such Underlying Funds and/or market sectors are appropriate in light of the Fund’s desired levels of risk and potential return at the particular time. The Fund’s portfolio management team may also add a new market sector if it believes that will help to achieve the Fund’s investment objective. The relative allocations among Underlying Funds within a market sector may be changed at any time without notice to shareholders, and
the portfolio management team may use tactical allocation to take advantage of short to intermediate term opportunities through a combination of positions in Underlying Funds. If 10% or more of the Fund’s assets are expected to be invested in any Underlying Fund or market sector not listed above, shareholders will receive prior notice of such change. Investors should note that the Fund has a significant level of equity exposure and this exposure could cause fluctuation in the value of the Fund depending on the performance of the equity markets generally.
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”) to gain exposure to various market sectors or securities in order to effect its asset allocation strategy. Additionally, the Fund may use ETFs or ETNs for cash management, hedging or defensive purposes. ETFs or 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.
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. The Fund has relatively fixed asset allocations that will not gradually adjust over time. Underlying Fund allocations may change from year to year.
Asset Class | Allocation |
| Market Sector | Allocation | Underlying Funds | Allocation | |
Equity | 35.14% | U.S. Equity | 22.89% | Nuveen Growth Opportunities ETF | 3.81% | ||
TIAA-CREF Large-Cap Growth | 3.80% | ||||||
TIAA-CREF Large-Cap Value | 3.41% | ||||||
Nuveen Dividend Value | 3.39% | ||||||
TIAA-CREF Growth & Income | 3.33% | ||||||
Nuveen Dividend Growth | 3.32% | ||||||
TIAA-CREF Quant Small/Mid-Cap Equity | 0.99% | ||||||
TIAA-CREF Quant Small-Cap Equity | 0.84% | ||||||
International Equity | 12.25% | TIAA-CREF International Equity | 5.33% | ||||
TIAA-CREF International Opportunities | 3.18% | ||||||
TIAA-CREF Emerging Markets Equity | 2.06% | ||||||
TIAA-CREF Quant International Small-Cap Equity | 1.68% | ||||||
Fixed-Income | 59.49% | Fixed-Income | 39.71% | TIAA-CREF Core Bond | 20.86% | ||
TIAA-CREF Core Plus Bond | 12.92% | ||||||
TIAA-CREF International Bond | 2.07% | ||||||
TIAA-CREF High-Yield | 1.98% | ||||||
TIAA-CREF Emerging Markets Debt | 1.88% | ||||||
Short-TermFixed-Income | 9.90% | TIAA-CREF Short-Term Bond | 9.90% | ||||
Inflation-Protected Assets | 9.88% | TIAA-CREF Inflation-Linked Bond | 9.88% | ||||
Real Estate | 5.37% | Direct Real Estate | 5.37% | TIAA-CREF Real Property Fund LP | 5.37% |
Total | 100.00% | 100.00% | 100.00% |
TLRRX - Performance
Return Ranking - Trailing
Period | TLRRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.7% | -2.6% | 13.3% | 23.08% |
1 Yr | 7.0% | -2.7% | 31.1% | 27.74% |
3 Yr | 0.2%* | -16.7% | 5.5% | 30.46% |
5 Yr | 4.2%* | -4.6% | 7.3% | 32.55% |
10 Yr | 4.5%* | 0.0% | 7.2% | 23.24% |
* Annualized
Return Ranking - Calendar
Period | TLRRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 7.1% | -1.3% | 27.4% | 37.38% |
2022 | -17.5% | -35.0% | -7.4% | 64.30% |
2021 | -0.6% | -11.5% | 14.6% | 81.60% |
2020 | 4.8% | -10.3% | 40.7% | 51.92% |
2019 | 10.8% | -9.5% | 22.1% | 36.05% |
Total Return Ranking - Trailing
Period | TLRRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 0.7% | -2.6% | 13.3% | 23.08% |
1 Yr | 7.0% | -2.7% | 31.1% | 27.74% |
3 Yr | 0.2%* | -16.7% | 5.5% | 30.46% |
5 Yr | 4.2%* | -4.6% | 7.3% | 32.55% |
10 Yr | 4.5%* | 0.0% | 7.2% | 23.24% |
* Annualized
Total Return Ranking - Calendar
Period | TLRRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 10.5% | -1.3% | 28.2% | 42.99% |
2022 | -12.7% | -35.0% | -3.1% | 41.84% |
2021 | 6.8% | -11.5% | 32.0% | 72.15% |
2020 | 10.8% | -5.4% | 40.7% | 28.90% |
2019 | 14.9% | 4.5% | 27.7% | 53.16% |
NAV & Total Return History
TLRRX - Holdings
Concentration Analysis
TLRRX | Category Low | Category High | TLRRX % Rank | |
---|---|---|---|---|
Net Assets | 437 M | 244 K | 50.8 B | 52.20% |
Number of Holdings | 21 | 3 | 5294 | 64.65% |
Net Assets in Top 10 | 337 M | 243 K | 10.1 B | 40.93% |
Weighting of Top 10 | 78.27% | 6.4% | 127.7% | 50.00% |
Top 10 Holdings
- TIAA-CREF Core Bond Fund 20.74%
- TIAA-CREF Core Plus Bond Fund 12.89%
- TIAA-CREF Inflation-Linked Bond Fund 9.63%
- TIAA-CREF Short-Term Bond Fund 9.54%
- TIAA-CREF International Equity Fund 5.41%
- TIAA-CREF Real Property Fund LP 5.17%
- Nuveen Growth Opportunities ETF 4.05%
- TIAA-CREF Large-Cap Growth Fund 4.03%
- Nuveen Dividend Growth Fund 3.41%
- TIAA-CREF Growth Income Fund 3.40%
Asset Allocation
Weighting | Return Low | Return High | TLRRX % Rank | |
---|---|---|---|---|
Stocks | 99.82% | 0.00% | 102.36% | 19.03% |
Convertible Bonds | 0.97% | 0.00% | 71.77% | 44.60% |
Cash | 0.13% | -35.68% | 37.58% | 90.47% |
Other | 0.06% | -0.44% | 63.55% | 36.98% |
Preferred Stocks | 0.00% | 0.00% | 21.95% | 98.84% |
Bonds | 0.00% | 0.00% | 81.41% | 99.30% |
Stock Sector Breakdown
Weighting | Return Low | Return High | TLRRX % Rank | |
---|---|---|---|---|
Technology | 20.46% | 0.22% | 27.92% | 25.53% |
Financial Services | 14.61% | 0.00% | 83.50% | 52.48% |
Healthcare | 13.88% | 0.00% | 24.25% | 31.44% |
Consumer Cyclical | 11.97% | 0.00% | 14.20% | 8.04% |
Industrials | 11.46% | 0.14% | 17.90% | 26.24% |
Consumer Defense | 7.24% | 0.00% | 18.62% | 47.04% |
Communication Services | 5.69% | 0.00% | 11.11% | 68.09% |
Energy | 5.50% | 0.00% | 62.93% | 43.03% |
Basic Materials | 4.79% | 0.00% | 32.82% | 26.48% |
Utilities | 2.22% | 0.00% | 48.33% | 90.31% |
Real Estate | 2.17% | 0.00% | 43.16% | 92.20% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | TLRRX % Rank | |
---|---|---|---|---|
US | 99.82% | 0.00% | 102.36% | 19.07% |
Non US | 0.00% | 0.00% | 23.57% | 99.30% |
TLRRX - Expenses
Operational Fees
TLRRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.82% | 0.06% | 7.81% | 58.00% |
Management Fee | 0.39% | 0.00% | 1.25% | 59.30% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 52.67% |
Administrative Fee | N/A | 0.01% | 0.70% | N/A |
Sales Fees
TLRRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 1.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
TLRRX 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.
TLRRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 41.00% | 2.00% | 380.00% | 62.88% |
TLRRX - Distributions
Dividend Yield Analysis
TLRRX | Category Low | Category High | TLRRX % Rank | |
---|---|---|---|---|
Dividend Yield | 5.63% | 0.00% | 8.02% | 40.14% |
Dividend Distribution Analysis
TLRRX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annual | Monthly | Monthly |
Net Income Ratio Analysis
TLRRX | Category Low | Category High | TLRRX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.62% | -1.22% | 6.83% | 54.59% |
Capital Gain Distribution Analysis
TLRRX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 22, 2024 | $0.068 | OrdinaryDividend |
Dec 15, 2023 | $0.153 | OrdinaryDividend |
Sep 22, 2023 | $0.064 | OrdinaryDividend |
Jun 16, 2023 | $0.069 | OrdinaryDividend |
Mar 17, 2023 | $0.047 | OrdinaryDividend |
Dec 16, 2022 | $0.381 | OrdinaryDividend |
Sep 26, 2022 | $0.110 | OrdinaryDividend |
Jun 17, 2022 | $0.064 | OrdinaryDividend |
Mar 18, 2022 | $0.036 | OrdinaryDividend |
Sep 17, 2021 | $0.048 | OrdinaryDividend |
Jun 18, 2021 | $0.043 | OrdinaryDividend |
Mar 19, 2021 | $0.034 | OrdinaryDividend |
Sep 18, 2020 | $0.032 | OrdinaryDividend |
Jun 19, 2020 | $0.037 | OrdinaryDividend |
Mar 20, 2020 | $0.041 | OrdinaryDividend |
Sep 20, 2019 | $0.048 | OrdinaryDividend |
Jun 12, 2019 | $0.050 | OrdinaryDividend |
Mar 22, 2019 | $0.039 | OrdinaryDividend |
Sep 21, 2018 | $0.056 | OrdinaryDividend |
Jun 22, 2018 | $0.050 | OrdinaryDividend |
Mar 23, 2018 | $0.040 | OrdinaryDividend |
Sep 22, 2017 | $0.038 | OrdinaryDividend |
Jun 23, 2017 | $0.034 | OrdinaryDividend |
Mar 24, 2017 | $0.060 | OrdinaryDividend |
Sep 23, 2016 | $0.034 | OrdinaryDividend |
Jun 24, 2016 | $0.036 | OrdinaryDividend |
Mar 18, 2016 | $0.035 | OrdinaryDividend |
Sep 25, 2015 | $0.033 | OrdinaryDividend |
Jun 26, 2015 | $0.030 | OrdinaryDividend |
Mar 27, 2015 | $0.028 | OrdinaryDividend |
Sep 26, 2014 | $0.031 | OrdinaryDividend |
Jun 27, 2014 | $0.037 | OrdinaryDividend |
Mar 28, 2014 | $0.053 | OrdinaryDividend |
Sep 20, 2013 | $0.035 | OrdinaryDividend |
Jun 21, 2013 | $0.030 | OrdinaryDividend |
Mar 22, 2013 | $0.023 | OrdinaryDividend |
Sep 28, 2012 | $0.024 | OrdinaryDividend |
Jun 29, 2012 | $0.041 | OrdinaryDividend |
Mar 30, 2012 | $0.027 | OrdinaryDividend |
Dec 16, 2011 | $0.159 | OrdinaryDividend |
Sep 23, 2011 | $0.038 | OrdinaryDividend |
Jun 24, 2011 | $0.050 | OrdinaryDividend |
Mar 25, 2011 | $0.038 | OrdinaryDividend |
Dec 17, 2010 | $0.134 | OrdinaryDividend |
Sep 24, 2010 | $0.032 | OrdinaryDividend |
Jun 25, 2010 | $0.040 | OrdinaryDividend |
Mar 26, 2010 | $0.038 | OrdinaryDividend |
Dec 18, 2009 | $0.087 | OrdinaryDividend |
Sep 25, 2009 | $0.035 | OrdinaryDividend |
Jun 26, 2009 | $0.045 | OrdinaryDividend |
Mar 27, 2009 | $0.042 | OrdinaryDividend |
Dec 19, 2008 | $0.098 | OrdinaryDividend |
Sep 29, 2008 | $0.073 | OrdinaryDividend |
Jun 27, 2008 | $0.071 | OrdinaryDividend |
Mar 28, 2008 | $0.066 | OrdinaryDividend |
Dec 21, 2007 | $0.124 | OrdinaryDividend |
TLRRX - Fund Manager Analysis
Managers
John Cunniff
Start Date
Tenure
Tenure Rank
Nov 30, 2007
14.51
14.5%
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
Nov 30, 2007
14.51
14.5%
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
Oct 01, 2018
3.67
3.7%
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 |
---|---|---|---|
0.09 | 28.73 | 6.44 | 2.41 |