FRAAX vs. TFEQX

Last updated Aug 5, 2026

FRAAX (Franklin Growth Opportunities Fund) and TFEQX (Templeton Institutional Fund International Equity Series) are both mutual funds - FRAAX is a Large Cap Growth Equities fund managed by Franklin Templeton, while TFEQX is a Foreign Large Cap Equities fund managed by Franklin Templeton. Over the past 10 years, FRAAX returned 14.11%/yr vs 8.87%/yr for TFEQX. Their 0.57 correlation means they have sometimes moved together and sometimes differently. FRAAX charges 0.65%/yr vs 0.83%/yr for TFEQX.

Performance

FRAAX vs. TFEQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Growth Opportunities Fund (FRAAX) and Templeton Institutional Fund International Equity Series (TFEQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FRAAX achieves a 7.10% return, which is significantly lower than TFEQX's 13.81% return. Over the past 10 years, FRAAX has outperformed TFEQX with an annualized return of 14.11%, while TFEQX has yielded a comparatively lower 8.87% annualized return.

FRAAX

• 1D: 1.83%
• 1M: -0.88%
• 6M: 9.04%
• YTD: 7.10%
• 1Y: 8.46%
• 3Y*: 17.56%
• 5Y*: 4.11%
• 10Y*: 14.11%
• ALL TIME*: 10.50%

TFEQX

• 1D: -0.09%
• 1M: -0.75%
• 6M: 6.09%
• YTD: 13.81%
• 1Y: 25.10%
• 3Y*: 20.15%
• 5Y*: 12.19%
• 10Y*: 8.87%
• ALL TIME*: 7.60%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FRAAX Franklin Growth Opportunities Fund	$0.00	$0.00	$0.00
TFEQX Templeton Institutional Fund International Equity Series	$0.00	$0.00	$0.00

FRAAX vs. TFEQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FRAAX Franklin Growth Opportunities Fund	7.10%	8.35%	26.35%	39.92%	-36.97%	9.71%	45.79%	46.13%	-1.10%	29.12%
TFEQX Templeton Institutional Fund International Equity Series	13.81%	31.58%	9.44%	22.68%	-9.21%	5.70%	5.29%	11.56%	-17.40%	19.78%

Correlation

The correlation between FRAAX and TFEQX is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.65
Correlation (3Y) Balances recent behavior with more history.	0.60
Correlation (5Y) Shows whether the relationship held over a longer period.	0.63
Correlation (10Y) Provides a long-term view across more market conditions.	0.57
Correlation (All Time) Calculated using the full available price history since Jun 23, 1999	0.57

The correlation between FRAAX and TFEQX has been stable across timeframes, ranging from 0.57 to 0.65 - a consistent structural relationship.

Return for Risk

FRAAX vs. TFEQX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FRAAX

FRAAX Risk / Return Rank: 13
FRAAX Sharpe Ratio Rank: 13
FRAAX Sortino Ratio Rank: 13
FRAAX Omega Ratio Rank: 13
FRAAX Calmar Ratio Rank: 12
FRAAX Martin Ratio Rank: 14

TFEQX

TFEQX Risk / Return Rank: 59
TFEQX Sharpe Ratio Rank: 57
TFEQX Sortino Ratio Rank: 60
TFEQX Omega Ratio Rank: 59
TFEQX Calmar Ratio Rank: 63
TFEQX Martin Ratio Rank: 57

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FRAAX vs. TFEQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Growth Opportunities Fund (FRAAX) and Templeton Institutional Fund International Equity Series (TFEQX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FRAAX	TFEQX	Difference
Sharpe ratio: Return per unit of total volatility	0.58	1.59	-1.01
Sortino ratio: Return per unit of downside risk	0.92	2.33	-1.41
Omega ratio: Gain probability vs. loss probability	1.11	1.30	-0.19
Calmar ratio: Return relative to maximum drawdown	0.67	2.31	-1.64
Martin ratio: Return relative to average drawdown	2.12	8.22	-6.10

FRAAX vs. TFEQX - Sharpe Ratio Comparison

The current FRAAX Sharpe Ratio is 0.58, which is lower than the TFEQX Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of FRAAX and TFEQX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FRAAX vs. TFEQX - Drawdown Comparison

The maximum FRAAX drawdown since its inception was -78.63%, which is greater than TFEQX's maximum drawdown of -57.70%. Use the drawdown chart below to compare losses from any high point for FRAAX and TFEQX.

Drawdown Indicators

	FRAAX	TFEQX	Difference
Max Drawdown Largest peak-to-trough decline	-78.63%	-57.70%	-20.93%
Max Drawdown (1Y) Largest decline over 1 year	-15.75%	-11.56%	-4.19%
Max Drawdown (3Y) Largest decline over 3 years	-25.26%	-16.94%	-8.32%
Max Drawdown (5Y) Largest decline over 5 years	-47.54%	-29.20%	-18.34%
Max Drawdown (10Y) Largest decline over 10 years	-47.54%	-42.65%	-4.89%
Current Drawdown Current decline from peak	-3.95%	-3.10%	-0.85%
Average Drawdown Average peak-to-trough decline	-28.94%	-10.47%	-18.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.97%	3.24%	+1.73%

Volatility

FRAAX vs. TFEQX - Volatility Comparison

Franklin Growth Opportunities Fund (FRAAX) has a higher volatility of 6.32% compared to Templeton Institutional Fund International Equity Series (TFEQX) at 4.00%. This indicates that FRAAX's price experiences larger fluctuations and is considered to be riskier than TFEQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRAAX	TFEQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.32%	4.00%	+2.32%
Volatility (6M) Calculated over the trailing 6-month period	15.12%	14.36%	+0.76%
Volatility (1Y) Calculated over the trailing 1-year period	18.26%	16.80%	+1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.54%	18.84%	+4.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.63%	17.37%	+5.26%

FRAAX vs. TFEQX - Expense Ratio Comparison

FRAAX has a 0.65% expense ratio, which is lower than TFEQX's 0.83% expense ratio.

Dividends

FRAAX vs. TFEQX - Dividend Comparison

FRAAX's dividend yield for the trailing twelve months is around 15.42%, less than TFEQX's 37.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRAAX Franklin Growth Opportunities Fund	15.42%	16.52%	9.57%	11.80%	4.31%	0.48%	5.29%	16.03%	12.10%	8.13%	1.97%	1.93%
TFEQX Templeton Institutional Fund International Equity Series	37.64%	42.84%	16.75%	14.08%	6.20%	34.04%	6.78%	6.65%	22.18%	1.60%	3.46%	2.46%

Frequently Asked Questions

Can I hold both FRAAX and TFEQX in my portfolio?

FRAAX and TFEQX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FRAAX or TFEQX?

FRAAX has higher volatility (6.32%) compared to TFEQX (4.00%). In terms of maximum drawdown, FRAAX dropped -78.63% vs TFEQX's -57.70%.

Which has better risk-adjusted returns?

TFEQX currently has the higher Sharpe Ratio (1.59 vs 0.58), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.