Fund Evaluator:
Nuveen Real Estate Sec Sel I (TIRHX)
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Best Performing in Real Estate Over the Last Year
| 23.4% | Nomura Real Estate Securities Y (IRSYX) |
| 15.9% | Cromwell CenterSquare Real Estate Inv (MRESX) |
| 15.0% | Nuveen Real Estate Sec Sel I (TIRHX) |
| 14.3% | PGIM Real Estate Income Z (PRKZX) |
| 14.1% | American Century Real Estate Y (ARYEX) |
Fund Details
Nuveen Real Estate Sec Sel I Overview
Nuveen Real Estate Sec Sel I (TIRHX) is an actively managed Sector Equity Real Estate fund. Nuveen launched the fund in 2015.
The investment seeks to obtain a favorable long-term total return through both capital appreciation and current income, by investing primarily in equity securities of companies principally engaged in or related to the real estate industry. The fund invests at least 80% of its assets in the securities of companies that are principally engaged in or related to the real estate industry, including those that own significant real estate assets. It may invest up to 15% of its assets in real estate securities of foreign issuers and up to 20% of its assets in equity and debt securities of issuers that are not engaged in or related to the real estate industry.
About Nuveen Real Estate Sec Sel I (TIRHX)
There are 2 members of the management team with an average tenure of 0.48 years: Benjamin Kerl (2026), Griffin Bazor (2026). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and FTSE Nareit All Equity REITs TR USD index with a weighting of 100%. Nuveen Real Estate Sec Sel I has 55 securities in its portfolio. The top 10 holdings constitute 50.9% 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 Real Estate Sec Sel I is part of the Equity global asset class and is within the Sector Equity fund group. Nuveen Real Estate Sec Sel I has 1.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 97.3%. There is 1.2% 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 Real Estate Sec Sel I has 1.4% of the portfolio in cash.
Assets Under Management
The fund has $26 million in total assets, which is below the $657 million average for the Real Estate 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.
TIRHX 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 Real Estate Sec Sel I expense ratio is above average compared to funds in the Real Estate category. Nuveen Real Estate Sec Sel I has an expense ratio of 0.61%, which is 50% 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 Real Estate Sec Sel I has a portfolio turnover rate of 26%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 80% for the Real Estate category.
Recently, in the month of June 2026, Nuveen Real Estate Sec Sel I returned 1.4%, which earned it a grade of D, as the Real Estate category had an average return of 2.0%. 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 Real Estate Sec Sel I has a trailing yield of 3.03%, which is above the 2.17% category average. The fund normally distributes its income quarterly 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 Real Estate Sec Sel I Grades
Year to date, the fund has returned 13.3%, 0.9 percentage points worse than the category, which translates into a grade of D. The fund has returned 15.0% over the past year (grade of B), 9.6% over the past three years (grade of C) and 2.2% per year over the past five years (grade of F) and 6.3% per year over the past 10 years (grade of A).
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TIRHX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| TIRHX Return (NAV) | 1.4% | 9.6% | 15.0% | 9.6% | 2.2% | 6.3% |
| TIRHX Grade | D | F | B | C | F | A |
| +/- Category | -0.6% | -1.1% | 0.1% | -0.2% | -1.4% | 0.8% |
| Real Estate Avg | 2.0% | 10.7% | 14.9% | 9.8% | 3.6% | 5.5% |
| TIRHX Tax Cost Ratio | na | na | 1.3% | 1.3% | 1.3% | 1.3% |
TIRHX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TIRHX Return (NAV) | 13.3% | 2.0% | 5.2% | 12.0% | -28.8% | 39.2% | 1.3% | 30.8% | -4.2% | 12.2% | 4.3% |
| TIRHX Grade | D | C | D | C | F | F | A | B | A | A | F |
| +/- Category | -0.9% | 0.6% | -1.3% | -0.3% | -2.7% | -2.6% | 5.0% | 2.3% | 1.8% | 5.5% | -1.9% |
| Real Estate Avg | 14.2% | 1.4% | 6.5% | 12.3% | -26.1% | 41.8% | -3.8% | 28.6% | -6.0% | 6.6% | 6.1% |
| Risk Measures | |
| Standard Deviation: | 16.4% |
| Total Risk Index: | 1.34 - High |
| Category Risk Index: | 1.01 - Average |
| Category Risk Grade: | C (55% Rank) |
| Beta: | 0.96 |
| R-Squared: | 56% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 3.0% |
| Dividend Distribution: | Quarterly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $2626 Mil |
| Fund Total Assets: | $ 26 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 26% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 0.5 years | |||
| Average Tenure: 0.5 years | |||
| Managers (Year): Kerl Benjamin (2026), Bazor Griffin (2026) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 55 |
| % in Top 10 Holdings: | 50.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 1.2% |
Portfolio Allocation |
|
| Domestic Stock: | 97.3% |
| Foreign Stock: | 1.2% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.4% |
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 (%): | 0.61% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 1.23% |
| Share Class: | Nuveen Real Estate Sec Sel R6 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
