Fund Evaluator:
Nuveen Emerging Markets Eq I (TEMHX)
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Fund Details
Nuveen Emerging Markets Eq I Overview
Nuveen Emerging Markets Eq I (TEMHX) is an actively managed International Equity Diversified Emerging Mkts fund. Nuveen launched the fund in 2015.
The investment seeks a favorable long-term total return, mainly through capital appreciation, by investing primarily in a portfolio of emerging markets equity investments. Under normal circumstances, the fund invests at least 80% of its assets in equity securities of emerging market issuers or in instruments with economic characteristics similar to emerging market equity securities. The fund's managers consider an "emerging market security" to be a security that is principally traded on a securities exchange of an emerging market or that is issued by an issuer that has primary operations in an emerging market.
About Nuveen Emerging Markets Eq I (TEMHX)
There are 2 members of the management team with an average tenure of 7.39 years: Barton Grenning (2015), Willis Tsai (2023). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI EM NR USD index with a weighting of 100%. Nuveen Emerging Markets Eq I has 83 securities in its portfolio. The top 10 holdings constitute 49.3% 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 Emerging Markets Eq I is part of the Equity global asset class and is within the International Equity fund group. Nuveen Emerging Markets Eq I has 98.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.6%. There is 98.8% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Nuveen Emerging Markets Eq I has 0.6% of the portfolio in cash.
Assets Under Management
The fund has $468 million in total assets, which is below the $967 million average for the Diversified Emerging Mkts 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.
TEMHX 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 Emerging Markets Eq I expense ratio is high compared to funds in the Diversified Emerging Mkts category. Nuveen Emerging Markets Eq I has an expense ratio of 1.03%, which is 11% lower than its category average, making the fund expense ratio grade a C. 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 Emerging Markets Eq I has a portfolio turnover rate of 112%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 68% for the Diversified Emerging Mkts category.
Recently, in the month of July 2026, Nuveen Emerging Markets Eq I returned -6.1%, which earned it a grade of C, as the Diversified Emerging Mkts category had an average return of -4.9%. 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 Emerging Markets Eq I has a trailing yield of 2.94%, which is above the 1.72% category average. The fund normally distributes its income annually 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 Emerging Markets Eq I Grades
Year to date, the fund has returned 13.5%, 5.5 percentage points worse than the category, which translates into a grade of F. The fund has returned 33.0% over the past year (grade of D), 14.2% over the past three years (grade of F) and 4.2% per year over the past five years (grade of D) and 7.5% per year over the past 10 years (grade of D).
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TEMHX 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 |
|
| TEMHX Return (NAV) | -6.1% | 1.4% | 33.0% | 14.2% | 4.2% | 7.5% |
| TEMHX Grade | C | D | D | F | D | D |
| +/- Category | -1.1% | -1.0% | -2.9% | -3.7% | -2.3% | -1.2% |
| Diversified Emerging Mkts Avg | -4.9% | 2.4% | 35.9% | 17.9% | 6.5% | 8.7% |
| TEMHX Tax Cost Ratio | na | na | 1.2% | 1.1% | 2.1% | 1.5% |
TEMHX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TEMHX Return (NAV) | 13.5% | 35.8% | -0.4% | 14.0% | -20.1% | -16.7% | 18.1% | 28.5% | -18.1% | 45.4% | 5.8% |
| TEMHX Grade | F | B | F | B | B | F | C | A | D | A | D |
| +/- Category | -5.5% | 4.4% | -6.6% | 1.9% | 2.5% | -16.4% | -3.5% | 6.7% | -1.6% | 8.8% | -2.8% |
| Diversified Emerging Mkts Avg | 19.1% | 31.4% | 6.2% | 12.1% | -22.6% | -0.2% | 21.6% | 21.9% | -16.4% | 36.6% | 8.6% |
| Risk Measures | |
| Standard Deviation: | 17.3% |
| Total Risk Index: | 1.41 - High |
| Category Risk Index: | 1.04 - Above Average |
| Category Risk Grade: | D (69% Rank) |
| Beta: | 1.09 |
| R-Squared: | 76% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 2.9% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1778 Mil |
| Fund Total Assets: | $ 0 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 112% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 11.4 years | |||
| Average Tenure: 7.4 years | |||
| Managers (Year): Grenning Barton (2015), Tsai Willis (2023) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 83 |
| % in Top 10 Holdings: | 49.3% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 98.8% |
Portfolio Allocation |
|
| Domestic Stock: | 0.6% |
| Foreign Stock: | 98.8% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.6% |
Purchase Information
| Fund Family: | Nuveen |
| Phone Number: | 800-842-2252 |
| 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 (%): | 1.03% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.16% |
| Share Class: | Nuveen Emerging Markets Eq R6 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
