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Name

As of 03/25/2024

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

$12.20

$804 M

5.14%

$0.63

0.72%

Vitals

YTD Return

4.9%

1 yr return

18.2%

3 Yr Avg Return

2.7%

5 Yr Avg Return

6.4%

Net Assets

$804 M

Holdings in Top 10

93.9%

52 WEEK LOW AND HIGH

$12.2
N/A
N/A

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 03/25/2024

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

$12.20

$804 M

5.14%

$0.63

0.72%

TITRX - Profile

Distributions

  • YTD Total Return 4.9%
  • 3 Yr Annualized Total Return 2.7%
  • 5 Yr Annualized Total Return 6.4%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.48%
DIVIDENDS
  • Dividend Yield 5.1%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    TIAA-CREF Managed Allocation Fund
  • Fund Family Name
    TIAA-CREF FUNDS COMPLEX
  • Inception Date
    Mar 31, 2006
  • Shares Outstanding
    N/A
  • Share Class
    R
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    John 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%

Read More

TITRX - Performance

Return Ranking - Trailing

Period TITRX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.9% -0.9% 26.1% 37.62%
1 Yr 18.2% -5.9% 45.8% 32.03%
3 Yr 2.7%* -5.8% 8.6% 65.79%
5 Yr 6.4%* -4.1% 15.9% 68.67%
10 Yr 6.0%* 0.7% 10.9% 53.46%

* Annualized

Return Ranking - Calendar

Period TITRX Return Category Return Low Category Return High Rank in Category (%)
2023 13.1% -12.2% 23.9% 22.61%
2022 -23.0% -34.7% 2.8% 86.61%
2021 -1.5% -11.9% 18.1% 89.09%
2020 6.0% -20.9% 39.7% 64.30%
2019 13.9% 0.8% 25.7% 49.76%

Total Return Ranking - Trailing

Period TITRX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.9% -0.9% 26.1% 37.62%
1 Yr 18.2% -5.9% 45.8% 32.03%
3 Yr 2.7%* -5.8% 8.6% 65.79%
5 Yr 6.4%* -4.1% 15.9% 68.67%
10 Yr 6.0%* 0.7% 10.9% 53.46%

* Annualized

Total Return Ranking - Calendar

Period TITRX Return Category Return Low Category Return High Rank in Category (%)
2023 16.1% -12.2% 26.8% 23.17%
2022 -17.1% -29.0% 10.9% 85.47%
2021 9.8% -3.0% 24.2% 82.89%
2020 15.0% -19.5% 40.6% 28.75%
2019 16.2% 4.4% 32.7% 85.69%

NAV & Total Return History


TITRX - Holdings

Concentration Analysis

TITRX Category Low Category High TITRX % Rank
Net Assets 804 M 733 K 195 B 55.79%
Number of Holdings 14 2 15716 81.97%
Net Assets in Top 10 779 M 618 K 62.8 B 43.00%
Weighting of Top 10 93.94% 11.4% 118.9% 20.25%

Top 10 Holdings

  1. TIAA-CREF Core Plus Bond Fund 38.94%
  2. TIAA-CREF International Equity Fund 9.03%
  3. Nuveen Growth Opportunities ETF 6.86%
  4. TIAA-CREF Large-Cap Growth Fund 6.84%
  5. Nuveen Dividend Growth Fund 5.82%
  6. TIAA-CREF Growth Income Fund 5.78%
  7. TIAA-CREF Large-Cap Value Fund 5.77%
  8. Nuveen Dividend Value Fund 5.74%
  9. TIAA-CREF International Opportunities Fund 5.51%
  10. TIAA-CREF Emerging Markets Equity Fund 3.65%

Asset Allocation

Weighting Return Low Return High TITRX % Rank
Stocks
99.79% 0.00% 103.09% 17.06%
Convertible Bonds
0.97% 0.00% 23.84% 27.51%
Cash
0.12% -10.21% 100.00% 80.03%
Other
0.08% -41.62% 117.44% 35.51%
Preferred Stocks
0.00% 0.00% 23.88% 96.81%
Bonds
0.00% 0.00% 77.27% 98.34%

Stock Sector Breakdown

Weighting Return Low Return High TITRX % Rank
Technology
20.47% 0.00% 44.21% 41.60%
Financial Services
14.61% 0.00% 38.77% 50.42%
Healthcare
13.89% 0.00% 29.35% 52.24%
Consumer Cyclical
11.97% 0.00% 19.36% 15.55%
Industrials
11.42% 0.00% 24.37% 28.15%
Consumer Defense
7.25% 0.00% 15.14% 33.19%
Communication Services
5.69% 0.00% 38.10% 82.35%
Energy
5.51% 0.00% 85.65% 37.11%
Basic Materials
4.79% 0.00% 33.35% 27.45%
Utilities
2.22% 0.00% 99.55% 78.43%
Real Estate
2.18% 0.00% 65.01% 76.47%

Stock Geographic Breakdown

Weighting Return Low Return High TITRX % Rank
US
99.79% 0.00% 103.09% 17.06%
Non US
0.00% 0.00% 38.68% 96.67%

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% 74.62%
Management Fee 0.00% 0.00% 1.83% 16.67%
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% 52.59%

TITRX - Distributions

Dividend Yield Analysis

TITRX Category Low Category High TITRX % Rank
Dividend Yield 5.14% 0.00% 15.61% 37.05%

Dividend Distribution Analysis

TITRX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Monthly Annual

Net Income Ratio Analysis

TITRX Category Low Category High TITRX % Rank
Net Income Ratio 1.48% -2.34% 19.41% 32.44%

Capital Gain Distribution Analysis

TITRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Monthly Annually

Distributions History

View More +

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 6.33 2.41