FREEX vs. TFEQX

Last updated Aug 1, 2026

FREEX (Franklin Real Estate Securities Fund) and TFEQX (Templeton Institutional Fund International Equity Series) are both mutual funds - FREEX is a REIT fund managed by Franklin Templeton, while TFEQX is a Foreign Large Cap Equities fund managed by Franklin Templeton. Over the past 10 years, FREEX returned 6.27%/yr vs 8.87%/yr for TFEQX. Their 0.41 correlation means their historical movements had little consistent relationship. FREEX charges 1.11%/yr vs 0.83%/yr for TFEQX.

Performance

FREEX vs. TFEQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Real Estate Securities Fund (FREEX) 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, FREEX achieves a 17.03% return, which is significantly higher than TFEQX's 13.92% return. Over the past 10 years, FREEX has underperformed TFEQX with an annualized return of 6.27%, while TFEQX has yielded a comparatively higher 8.87% annualized return.

FREEX

• 1D: -1.12%
• 1M: 1.81%
• 6M: 14.08%
• YTD: 17.03%
• 1Y: 18.10%
• 3Y*: 9.13%
• 5Y*: 3.06%
• 10Y*: 6.27%
• ALL TIME*: 8.44%

TFEQX

• 1D: 0.00%
• 1M: -0.65%
• 6M: 6.93%
• YTD: 13.92%
• 1Y: 26.67%
• 3Y*: 20.02%
• 5Y*: 12.36%
• 10Y*: 8.87%
• ALL TIME*: 7.61%

*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)
FREEX Franklin Real Estate Securities Fund	$0.00	$0.00	$0.00
TFEQX Templeton Institutional Fund International Equity Series	$0.00	$0.00	$0.00

FREEX vs. TFEQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FREEX Franklin Real Estate Securities Fund	17.03%	2.24%	3.84%	9.99%	-25.71%	44.04%	-3.34%	52.71%	-6.58%	2.62%
TFEQX Templeton Institutional Fund International Equity Series	13.92%	31.58%	9.44%	22.68%	-9.21%	5.70%	5.29%	11.56%	-17.40%	19.78%

Correlation

The correlation between FREEX and TFEQX is 0.34, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.34
Correlation (3Y) Balances recent behavior with more history.	0.45
Correlation (5Y) Shows whether the relationship held over a longer period.	0.50
Correlation (10Y) Provides a long-term view across more market conditions.	0.42
Correlation (All Time) Calculated using the full available price history since Dec 31, 1993	0.41

The correlation between FREEX and TFEQX shifts across timeframes, from 0.34 (1 year) to 0.50 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FREEX vs. TFEQX — Risk / Return Rank

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

FREEX

FREEX Risk / Return Rank: 42
FREEX Sharpe Ratio Rank: 37
FREEX Sortino Ratio Rank: 36
FREEX Omega Ratio Rank: 36
FREEX Calmar Ratio Rank: 58
FREEX Martin Ratio Rank: 44

TFEQX

TFEQX Risk / Return Rank: 63
TFEQX Sharpe Ratio Rank: 61
TFEQX Sortino Ratio Rank: 63
TFEQX Omega Ratio Rank: 63
TFEQX Calmar Ratio Rank: 66
TFEQX Martin Ratio Rank: 60

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.

FREEX vs. TFEQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Real Estate Securities Fund (FREEX) 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.

	FREEX	TFEQX	Difference
Sharpe ratio: Return per unit of total volatility	1.19	1.46	-0.26
Sortino ratio: Return per unit of downside risk	1.70	2.15	-0.45
Omega ratio: Gain probability vs. loss probability	1.21	1.27	-0.06
Calmar ratio: Return relative to maximum drawdown	2.09	2.12	-0.03
Martin ratio: Return relative to average drawdown	6.50	7.58	-1.08

FREEX vs. TFEQX - Sharpe Ratio Comparison

The current FREEX Sharpe Ratio is 1.19, which is comparable to the TFEQX Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of FREEX 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

FREEX vs. TFEQX - Drawdown Comparison

The maximum FREEX drawdown since its inception was -76.99%, which is greater than TFEQX's maximum drawdown of -57.70%. Use the drawdown chart below to compare losses from any high point for FREEX and TFEQX.

Drawdown Indicators

	FREEX	TFEQX	Difference
Max Drawdown Largest peak-to-trough decline	-76.99%	-57.70%	-19.29%
Max Drawdown (1Y) Largest decline over 1 year	-7.76%	-11.56%	+3.80%
Max Drawdown (3Y) Largest decline over 3 years	-16.08%	-16.94%	+0.86%
Max Drawdown (5Y) Largest decline over 5 years	-33.79%	-29.20%	-4.59%
Max Drawdown (10Y) Largest decline over 10 years	-40.57%	-42.65%	+2.08%
Current Drawdown Current decline from peak	-1.96%	-3.01%	+1.05%
Average Drawdown Average peak-to-trough decline	-14.17%	-10.47%	-3.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.51%	3.23%	-0.72%

Volatility

FREEX vs. TFEQX - Volatility Comparison

Franklin Real Estate Securities Fund (FREEX) and Templeton Institutional Fund International Equity Series (TFEQX) have volatilities of 4.47% and 4.35%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FREEX	TFEQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	4.35%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	10.76%	14.41%	-3.65%
Volatility (1Y) Calculated over the trailing 1-year period	13.68%	16.91%	-3.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.47%	18.84%	+0.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.90%	17.37%	+4.53%

FREEX vs. TFEQX - Expense Ratio Comparison

FREEX has a 1.11% expense ratio, which is higher than TFEQX's 0.83% expense ratio.

Dividends

FREEX vs. TFEQX - Dividend Comparison

FREEX's dividend yield for the trailing twelve months is around 5.68%, less than TFEQX's 37.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FREEX Franklin Real Estate Securities Fund	5.68%	6.65%	12.00%	5.13%	3.70%	7.51%	8.38%	33.46%	5.49%	9.77%	2.66%	1.50%
TFEQX Templeton Institutional Fund International Equity Series	37.61%	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 FREEX and TFEQX in my portfolio?

FREEX and TFEQX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FREEX or TFEQX?

FREEX has higher volatility (4.47%) compared to TFEQX (4.35%). In terms of maximum drawdown, FREEX dropped -76.99% vs TFEQX's -57.70%.

Which has better risk-adjusted returns?

TFEQX currently has the higher Sharpe Ratio (1.46 vs 1.19), 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.