Fund Evaluator:
Nuveen Core Plus Bond I (TCBHX)
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Best Performing in Intermediate Core-Plus Bond Over the Last Year
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| 3.5% | Weitz Core Plus Income Investor (WCPNX) |
| 3.4% | Nuveen Core Plus Bond I (TCBHX) |
Fund Details
Nuveen Core Plus Bond I Overview
Nuveen Core Plus Bond I (TCBHX) is an actively managed Taxable Bond Intermediate Core-Plus Bond fund. Nuveen launched the fund in 2015.
The investment seeks total return, primarily through current income. The fund invests at least 80% of its assets in bonds. For these purposes, bonds include fixed-income securities of all types. Its portfolio is divided into two segments. The first segment, which makes up at least 70% of the fund's assets, is invested primarily in a broad range of investment-grade bonds and fixed-income securities. The second segment, which will not exceed 30% of the fund's assets, is invested in fixed-income securities and bonds with special features in an effort to improve the fund's total return.
About Nuveen Core Plus Bond I (TCBHX)
There are 4 members of the management team with an average tenure of 3.46 years: Joseph Higgins (2020), Katherine Renfrew (2023), Nicholas Travaglino (2023), Kristal Seales (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. Nuveen Core Plus Bond I has 1601 securities in its portfolio. The top 10 holdings constitute 18.9% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Nuveen Core Plus Bond I is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Nuveen Core Plus Bond I has 13.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 1.8% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 96.4% (83.0% domestic bond, 13.4% foreign bond and 0.2% convertible bond). Nuveen Core Plus Bond I has 1.6% of the portfolio in cash.
Assets Under Management
The fund has $123 million in total assets, which is below the $1 billion average for the Intermediate Core-Plus Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
TCBHX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Nuveen Core Plus Bond I expense ratio is below average compared to funds in the Intermediate Core-Plus Bond category. Nuveen Core Plus Bond I has an expense ratio of 0.36%, which is 54% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Nuveen Core Plus Bond I has a portfolio turnover rate of 121%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 181% for the Intermediate Core-Plus Bond category.
Recently, in the month of July 2026, Nuveen Core Plus Bond I returned -1.2%, which earned it a grade of A, as the Intermediate Core-Plus Bond category had an average return of -1.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Nuveen Core Plus Bond I has a trailing yield of 4.78%, which is above the 4.36% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Nuveen Core Plus Bond I Grades
Year to date, the fund has returned -0.1%, 0.6 percentage points better than the category, which translates into a grade of A. The fund has returned 3.4% over the past year (grade of A), 4.6% over the past three years (grade of B) and 0.3% per year over the past five years (grade of B) and 2.1% per year over the past 10 years (grade of B).
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TCBHX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| TCBHX Return (NAV) | -1.2% | -0.6% | 3.4% | 4.6% | 0.3% | 2.1% |
| TCBHX Grade | A | A | A | B | B | B |
| +/- Category | 0.1% | 0.2% | 0.7% | 0.5% | 0.4% | 0.3% |
| Intermediate Core-Plus Bond Avg | -1.3% | -0.7% | 2.7% | 4.2% | -0.2% | 1.8% |
| TCBHX Tax Cost Ratio | na | na | 1.9% | 1.8% | 1.7% | 1.5% |
TCBHX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TCBHX Return (NAV) | -0.1% | 7.2% | 3.1% | 6.8% | -13.4% | -0.4% | 7.9% | 9.4% | -0.3% | 4.7% | 4.6% |
| TCBHX Grade | A | D | A | B | C | B | D | C | B | B | B |
| +/- Category | 0.6% | -0.1% | 0.9% | 0.7% | 0.0% | 0.2% | -0.7% | 0.3% | 0.6% | 0.2% | 0.3% |
| Intermediate Core-Plus Bond Avg | -0.6% | 7.3% | 2.3% | 6.1% | -13.4% | -0.6% | 8.6% | 9.1% | -0.9% | 4.4% | 4.3% |
| Risk Measures | |
| Standard Deviation: | 5.5% |
| Total Risk Index: | 0.44 - Low |
| Category Risk Index: | 0.97 - Below Average |
| Category Risk Grade: | B (27% Rank) |
| Beta: | 0.96 |
| R-Squared: | 99% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | na |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 4.8% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $4404 Mil |
| Fund Total Assets: | $ 123 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 121% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 6.0 years | |||
| Average Tenure: 3.5 years | |||
| Managers (Year): Higgins Joseph (2020), Travaglino Nicholas (2023), Renfrew Katherine (2023), Seales Kristal (2025) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 1601 |
| % in Top 10 Holdings: | 18.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 13.4% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 1.8% |
| Domestic Bond: | 83.0% |
| Foreign Bond: | 13.4% |
| Convertible Bond: | 0.2% |
| Other: | 0.0% |
| Cash: | 1.6% |
Purchase Information
| Fund Family: | Nuveen |
| Phone Number: | 800-257-8787 |
| Website: | www.tiaa.org |
| Status: | Open |
| Inception Date: | December 4, 2015 |
| Min. Initial Purchase: | $100,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.36% ( Rating : Below Avg ) |
| Category Average Expense Ratio (%): | 0.78% |
| Share Class: | Nuveen Core Plus Bond R6 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
