1. Source: Morningstar Direct, Data as of December 31, 2015. TIAA-CREF Lifecycle Funds 55% are 5 Stars and 45% 4 Stars. TIAA-CREF Lifecycle Index Funds 100% 5 Stars and 0% 4 Stars. Morningstar ratings are based on risk-adjusted returns. Morningstar ratings based on the lowest cost share class for each mutual fund, based on U.S. open end mutual funds. For a fund with multiple share classes and the same pricing, the share class with the longest performance history is used.
2. Morningstar Direct as of December 31, 2015. Data is based on the Institutional Share Class. Other share classes expenses will vary. TIAA-CREF Lifecycle Funds average expense ratio is 0.41% which is the bottom 10% vs. industry peers. TIAA-CREF Lifecycle Index Funds average expense ratio is 0.12% which is the bottom 2% vs. industry peers.
Nuveen Investments operates as a separate subsidiary within TIAA-CREF’s asset management business. TIAA was ranked among 39 fund groups with at least three mixed-asset portfolios eligible for a group award. The lowest average decile rank of the three years' Consistent Return measure of the eligible funds determined the asset class group winner over the three-year period. A detailed awards methodology can be found at http://excellence.thomsonreuters.com/award/lipper. From Thomson Reuters Lipper Awards, ©2016 Thomas 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.
© 2016 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics.
Past performance is no guarantee of future results. Funds considered in the Lipper Awards may have experienced negative returns during or since the rating period. Mutual fund investing involves risk; principal loss is possible. There is no guarantee that the Funds’ investment objectives will be achieved.
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