Impact
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More about the fund

TIAA-CREF Social Choice Bond Fund

A responsible investment that has outperformed its benchmark and peers since inception.

Effective 01 March 2020, “TIAA-CREF Social Choice Bond Fund” will change to “TIAA-CREF Core Impact Bond Fund”. The name change will not change the investment strategy or the management.*

5 decades

of responsible investing

Core bond fund

Actively managed high-quality bond portfolio.

Environmental, social and governance (ESG) quality

Bonds must demonstrate ESG leadership within their issuers’ industries, which can help add value and mitigate risk.

Environmental and societal impact

Strategic allocation to bonds with direct and measurable impact in affordable housing, community development, renewable energy & natural resources.

OVERALL MORNINGSTAR RATING ™

rating

AS OF 31 DEC 2019 AMONG 530
INTERMEDIATE CORE-PLUS BOND FUNDS


Morningstar ratings may vary among share classes and are based on historical risk-adjusted total returns, which are not indicative of future results.

INSTITUTIONAL

TSBIX

INCEPTION DATE: 21 SEP 2012


Gross expense ratio: 0.37%   Net expense ratio:0.37%
A contractual arrangement is in place that limits certain fees and/or expenses. Had fees/expenses not been limited (“capped”), currently or in the past, returns would have been lower. Expense Cap Expiration Date: 31 Jul 2020. Please see the prospectus for details.

Average annual total returns

AS OF: 31 DEC 2019

YTD 1YR 3YR 5YR SINCE INCEPTION
Fund 8.73% 8.73% 4.47% 3.55% 3.62%
Bloomberg Barclays U.S.
Aggregate Bond Index
- 8.72% 4.03% 3.05% -

Returns quoted represent past performance which is no guarantee of future results. Investment returns and principal value will fluctuate so that when shares are redeemed, they may be worth more or less than their original cost. Current performance may be higher or lower than the performance shown. Total returns for a period of less than one year are cumulative. Returns without sales charges would be lower if the sales charges were included. Returns assume reinvestment of dividends and capital gains.

The TIAA-CREF Social Choice Bond Fund seeks favorable returns while making a direct and measurable environmental and social impact.”

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Stephen M. Liberatore, CFA

Portfolio Manager, Global Fixed Income

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Ask us about the TIAA-CREF Social Choice Bond Fund.

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    A word on risk

    Mutual fund investing involves risk; principal loss is possible. There is no guarantee the Fund’s investment objectives will be achieved. The Fund will include only holdings deemed consistent with the applicable Environmental Social Governance (ESG) guidelines. As a result, the universe of investments available to the Fund will be more limited than other funds that do not apply such guidelines. ESG criteria risk is the risk that because the Fund’s ESG criteria exclude securities of certain issuers for nonfinancial reasons, the Fund may forgo some market opportunities available to funds that don’t use these criteria. Credit risk arises from an issuer’s ability to make interest and principal payments when due, as well as the prices of bonds declining when an issuer’s credit quality is expected to deteriorate. Interest rate risk occurs when interest rates rise causing bond prices to fall. The issuer of a debt security may be able to repay principal prior to the security’s maturity, known as prepayment (call) risk, because of an improvement in its credit quality or falling interest rates. In this event, this principal may have to be reinvested in securities with lower interest rates than the original securities, reducing the potential for income. Non-U.S. investments involve risks such as currency fluctuation, political and economic instability, lack of liquidity and differing legal and accounting standards. Investments in below investment grade or high yield securities are subject to liquidity risk and heightened credit risk. These and other risk considerations, such as active management, extension, issuer, illiquid investments, income volatility, and derivatives risk, are described in detail in the Fund’s prospectus.

    The Nuveen Family of Funds and the TIAA-CREF Funds are distinct fund families that comprise different investment products, each with its own features, terms and conditions, fee structures and risk factors. Please note, there are no exchange privileges between the two fund families.

    For the period ended 31 Dec 2019, Morningstar rated this Fund’s Institutional shares, for the overall, three-, five-, and 10-year periods (if applicable). The Institutional shares received 4, 4 and 4 stars among 530, 530, and 444 Intermediate Core-Plus Bond Funds, respectively. Rankings for other share classes may vary. Investment performance reflects applicable fee waivers. Without such waivers, total returns would be reduced and ratings could be lower. For the most current ratings, please visit nuveen.com.

    The Morningstar RatingTM for funds, 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. It 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. The top 10% of products in each product 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. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. ©2019 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (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.

    CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

    Before investing, carefully consider fund investment objectives, risks, charges and expenses. For this and other information that should be read carefully, please request a prospectus or summary prospectus from your financial professional or Nuveen at 800.257.8787.

    The investment advisory services, strategies and expertise of TIAA Investments, a division of Nuveen, are provided by Teachers Advisors, LLC and TIAA-CREF Investment Management, LLC.

    Nuveen Securities, LLC, member FINRA and SIPC.

    *Important fund notice

    Effective 01 March 2020, “TIAA-CREF Social Choice Bond Fund” will change to “TIAA-CREF Core Impact Bond Fund”. The name change will not change the investment strategy or the management.

    For additional information regarding the change, please consult the prospectus.

    The material contained on this website is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or investment strategy and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor’s objectives and circumstances and in consultation with his or her advisors.

    Nuveen provides investment advisory solutions through its investment specialists. Nuveen Securities, LLC., member FINRA and SIPC.

    The information on this website is intended for U.S. residents only. If you are a non-U.S. resident, please visit the Global section of our website www.nuveen.com/global. The information provided does not constitute a solicitation of an offer to buy, or an offer to sell securities in any jurisdiction to any person to whom it is not lawful to make such an offer.

    The information on this website is intended for U.S. residents only. If you are a non-U.S. resident, please visit the Global section of our website www.nuveen.com/global. The information provided does not constitute a solicitation of an offer to buy, or an offer to sell securities in any jurisdiction to any person to whom it is not lawful to make such an offer.

    NOT FDIC INSURED   MAY LOSE VALUE   NO BANK GUARANTEE

    © Nuveen, LLC. All rights reserved.

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