Emerging Markets Equity Index Option


Unit value as of  
Day change
Total annual asset-based fees  
Inception date   1/27/2022

Investment objective

This Investment Option seeks to provide investment performance that corresponds to the performance of a benchmark index that measures the investment return of stocks issued by companies located in emerging market countries.

Investment strategy

This Investment Option invests in a fund that mainly invests in the common stocks of large-, mid-, and small-cap companies located in emerging markets around the world.

Risk level




Learn more about how risk potential could affect your investment by completing our Risk Tolerance Questionnaire.

Historical performance

Average annual total returns as of 4/30/2024

Category Emerging Markets Equity Index Option Benchmark
Year to date 3.16% 3.68%
1 year 9.23% 11.20%
3 years
5 years
10 years
Since inception -2.38% -1.92%

Average annual total returns as of 3/31/2024

Category Emerging Markets Equity Index Option Benchmark
Year to date 2.07% 2.04%
1 year 7.33% 8.46%
3 years
5 years
10 years
Since inception -2.94% -2.71%

The performance data quoted represent past performance and are net of all fees and expenses. Past performance is not a guarantee of future results. Your returns and the principal value of your account will fluctuate, so your investment may be worth more or less than the original value when you withdraw your money. Current performance may be lower or higher than the performance quoted above. Investors cannot invest directly in a benchmark.

All performance figures in the table, with the exception of the performance figures in the year-to-date column, represent the average annual compound rate of the total return. All figures in the year-to-date column represent cumulative, nonannualized returns.

Asset allocation

  • 100.00% International Equity

Underlying funds

Ticker Underlying fund Allocation
VEMAX Vanguard Emerging Markets Stock Index Fund 100.00%

The above table lists the underlying investments in which this investment option invests and the percentage of the investment option’s assets allocated to each of its investments. Please keep in mind that if you invest in this investment option, you will own this investment option; you will not own shares in any of the above mutual funds. For more information on investment options, fees and expenses, including cost examples, please read the Program Description.

529 Investment Lead

Jeremy Thiessen

Jeremy Thiessen

Head of Investment Strategies

To learn more about the Michigan Education Savings Program, its investment objectives, risks, charges and expenses please see the Program Description at MIsaves.com. Read it carefully. Investments in the Program are neither insured nor guaranteed and there is the risk of investment loss. Check with your home state to learn if it offers tax or other benefits such as financial aid, scholarship funds or protection from creditors for investing in its own 529 plan.

The material contained on this website is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy, sell or hold a security or investment strategy and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor or suggest any specific course of action. Investment decisions should be based on an investor’s objectives and circumstances.

TIAA-CREF Individual & Institutional Services, LLC, Member FINRA, is the distributor and underwriter for the Michigan Education Savings Program.