College Retirement Equities Fund - Inflation-Linked Bond Account
College Retirement Equities Fund · 4 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
College Retirement Equities Fund - Inflation-Linked Bond Account is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Credit quality
- Investment grade
- Rate sensitivity
- Intermediate duration
Fund profile
This fund files no prospectus profile. Unit investment trusts and closed-end funds register on forms that carry no objective or fee tagging, and some fund families file without it — a gap in what was filed, not a fund without an objective or without fees.
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 93.55% |
| Securitized | 5.39% |
| Derivatives | 3.78% |
| Loans | 0.33% |
| Cash & short-term | 0.30% |
Look-through blends 1 underlying fund; 0.0% of NAV was not looked through and stays direct-classified. The blend is as of 2025Q4, one or more quarters before the direct holdings (2026Q2).
Latest quarter
What changed since the fund's previous filing
Largest new: Chicago Board of Trade, United States Treasury Inflation Indexed Bonds, TSY INFL IX N/B, The Bank of New York Mellon Corp, Banco Nacional de Mexico SA, DB Master Finance LLC, Bank Leumi Le-Israel BM, ICL Group Ltd
Largest exited: Chicago Board of Trade ×3, United States Treasury Note/Bond, The Bank of New York Mellon Corp, Freddie Mac - STACR, MONTEFIORE MEDICAL CENT, MTN Commercial Mortgage Trust
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +4.06% | +13.46% | +13.60% | 2.19% | -2.47% | |
| +4.16% | +13.90% | +14.38% | 2.18% | -2.40% | |
| +4.20% | +14.08% | +14.70% | 2.18% | -2.37% | |
| +4.34% | +14.60% | — | 2.19% | -2.28% |
These classes hold the same portfolio, so the 1.13pp spread over 3 years is the cost difference between them — roughly 0.38pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 98.0% |
| Floating rate | 2.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 4.8% |
| 1-3y | 27.2% |
| 3-5y | 23.8% |
| 5-10y | 40.5% |
| 10y+ | 3.8% |
| Unknown | 0.0% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 59% |
| Interest rates | 41% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +4.26 yr |
| High yield | +0.03 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.11 yr | 4% |
| 1 yr | 0.33 yr | 11% |
| 5 yr | 1.43 yr | 47% |
| 10 yr | 1.15 yr | 38% |
| 30 yr | 0.02 yr | 1% |
| 3 mo | 0.02 yr | 0% |
| 1 yr | 0.62 yr | 14% |
| 5 yr | 2.09 yr | 49% |
| 10 yr | 1.53 yr | 36% |
| 30 yr | 0.03 yr | 1% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.11 | +0.02 | +0.00 | $13.4k | $1.2k |
| 1 yr | +0.33 | +0.62 | +0.01 | $510.6k | $4.4k |
| 5 yr | +1.43 | +2.07 | +0.02 | $1.71m | $13.1k |
| 10 yr | +1.15 | +1.53 | +0.01 | $1.26m | $4.7k |
| 30 yr | +0.02 | +0.03 | +0.00 | $26.9k | $1.8k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | United States Treasury Inflation Indexed Bonds1.75% · due 2034-01-15 | 5.28% | $437.11M | — |
| — | United States Treasury Inflation Indexed Bonds2.13% · due 2029-04-15 | 4.84% | $400.75M | — |
| — | United States Treasury Inflation Indexed Bonds2.13% · due 2035-01-15 | 4.71% | $390.02M | — |
| — | TSY INFL IX N/B1.13% · due 2033-01-15 | 4.39% | $362.81M | — |
| — | United States Treasury Inflation Indexed Bonds1.88% · due 2034-07-15 | 4.31% | $356.42M | — |
| — | United States Treasury Inflation Indexed Bonds1.63% · due 2030-04-15 | 4.10% | $339.28M | — |
| — | United States Treasury Inflation Indexed Bonds1.88% · due 2035-07-15 | 4.08% | $337.57M | — |
| — | TSY INFL IX N/B0.13% · due 2031-01-15 | 4.03% | $333.49M | — |
| — | TSY INFL IX N/B0.88% · due 2029-01-15 | 3.56% | $294.35M | — |
| — | TSY INFL IX N/B0.13% · due 2031-07-15 | 3.52% | $291.31M | — |
Top 10 positions are 42.84% of net assets, top 25 82.65%, across 134 issuers.
See more of this fund's book
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