Fund Evaluator:

Nuveen Emerging Markets Eq Idx W Overview

Nuveen Emerging Markets Eq Idx W (TENWX) is a passively managed International Equity Diversified Emerging Mkts fund. Nuveen launched the fund in 2018.

The investment seeks a favorable long-term total return, mainly through capital appreciation, by investing primarily in a portfolio of emerging market equity investments based on a market index. Under normal circumstances, the fund invests at least 80% of its assets in equity securities that comprise its benchmark index, the MSCI Emerging Markets® Index ("MSCI EM Index"), or in instruments with economic characteristics similar to all or a portion of the MSCI EM Index. It buys most, but not necessarily all, of the stocks in its benchmark index, and the advisor will attempt to closely match the overall investment attributes of the fund's benchmark index.

About Nuveen Emerging Markets Eq Idx W (TENWX)

There are 3 members of the management team with an average tenure of 8.49 years: Philip Campagna (2010), Darren Tran (2019), Nazar Romanyak (2024). 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 Idx W has 1215 securities in its portfolio. The top 10 holdings constitute 38.5% 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 Idx W is part of the Equity global asset class and is within the International Equity fund group. Nuveen Emerging Markets Eq Idx W has 97.4% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.1%. There is 97.4% allocated to foreign stock, and 0.2% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.2% (0.2% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Nuveen Emerging Markets Eq Idx W has 1.2% of the portfolio in cash.

Assets Under Management

The fund has $6 billion in total assets, which is above 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.

TENWX 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 Idx W expense ratio is low compared to funds in the Diversified Emerging Mkts category. Nuveen Emerging Markets Eq Idx W has an expense ratio of 0.00%, which is 100% 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 Emerging Markets Eq Idx W has a portfolio turnover rate of 14%, indicating that holds its assets around 0.1 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 Idx W returned -5.9%, 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 Idx W has a trailing yield of 2.49%, which is above the 1.72% category average. The fund normally distributes its income 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 Idx W Grades

Year to date, the fund has returned 18.8%, 0.3 percentage points worse than the category, which translates into a grade of C. The fund has returned 35.6% over the past year (grade of C), 18.6% over the past three years (grade of C) and 7.6% per year over the past five years (grade of B) and 8.9% per year over the past 10 years (grade of C).

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