TCV vs. TEMD

Last updated Jul 17, 2026

TCV (Towle Value ETF) and TEMD (Templeton Emerging Markets Debt ETF) are both exchange-traded funds - TCV is a Small Cap Value Equities fund actively managed by Towle, while TEMD is a Actively Managed fund actively managed by Franklin Templeton Investments. Both are actively managed. At a 0.39 correlation, their price movements are largely independent. TCV charges 0.85%/yr vs 0.45%/yr for TEMD.

Performance

TCV vs. TEMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Towle Value ETF (TCV) and Templeton Emerging Markets Debt ETF (TEMD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TCV

• 1D: 0.01%
• 1M: 4.66%
• 6M: 13.75%
• YTD: 28.70%
• 1Y: 32.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TEMD

• 1D: -0.16%
• 1M: -1.08%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TCV vs. TEMD - Yearly Performance Comparison

	2026 (YTD)
TCV Towle Value ETF	13.95%
TEMD Templeton Emerging Markets Debt ETF	1.68%

Correlation

The correlation between TCV and TEMD is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 22, 2026	0.39

Return for Risk

TCV vs. TEMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Towle Value ETF (TCV) and Templeton Emerging Markets Debt ETF (TEMD). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

TCV vs. TEMD - Drawdown Comparison

The maximum TCV drawdown since its inception was -12.23%, which is greater than TEMD's maximum drawdown of -4.34%. Use the drawdown chart below to compare losses from any high point for TCV and TEMD.

Drawdown Indicators

	TCV	TEMD	Difference
Max Drawdown Largest peak-to-trough decline	-12.23%	-4.34%	-7.89%
Max Drawdown (1Y) Largest decline over 1 year	-12.23%	—	—
Current Drawdown Current decline from peak	-0.09%	-1.11%	+1.02%
Average Drawdown Average peak-to-trough decline	-3.29%	-1.18%	-2.11%

Volatility

Volatility by Period

	TCV	TEMD	Difference
Volatility (1Y) Calculated over the trailing 1-year period	21.12%	5.87%	+15.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.12%	5.87%	+15.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.12%	5.87%	+15.25%

TCV vs. TEMD - Expense Ratio Comparison

TCV has a 0.85% expense ratio, which is higher than TEMD's 0.45% expense ratio.

Dividends

TCV vs. TEMD - Dividend Comparison

TCV's dividend yield for the trailing twelve months is around 0.56%, less than TEMD's 3.08% yield.

Position	TTM	2025
TCV Towle Value ETF	0.56%	0.31%
TEMD Templeton Emerging Markets Debt ETF	3.08%	0.00%

Frequently Asked Questions

Can I hold both TCV and TEMD in my portfolio?

TCV and TEMD have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TCV or TEMD?

On fees, TEMD is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TCV or TEMD?

TEMD is cheaper with a 0.45% expense ratio, compared with 0.85% for TCV.

Which ETF pays a higher dividend yield, TCV or TEMD?

TEMD has the higher dividend yield at 3.08%, compared with 0.56% for TCV.

What is the main difference between TCV and TEMD?

TCV is categorized as Small Cap Value Equities, while TEMD is Actively Managed. They also come from different issuers: Towle and Franklin Templeton Investments. Their fees differ too: 0.85% for TCV and 0.45% for TEMD.