TEI vs. EMO
TEI (Templeton Emerging Markets Income Fund) and EMO (ClearBridge Energy Midstream Opportunity Fund) are both mutual funds - TEI is a Emerging Markets Bonds fund managed by Franklin Templeton, while EMO is a MLPs fund actively managed by Franklin Templeton. Over the past 10 years, TEI returned 4.67%/yr vs 7.75%/yr for EMO. Their 0.25 correlation means their historical movements had little consistent relationship.
Performance
TEI vs. EMO - Performance Comparison
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Returns By Period
In the year-to-date period, TEI achieves a 8.44% return, which is significantly lower than EMO's 21.52% return. Over the past 10 years, TEI has underperformed EMO with an annualized return of 4.67%, while EMO has yielded a comparatively higher 7.75% annualized return.
TEI
- 1D
- 0.00%
- 1M
- -0.68%
- 6M
- 3.04%
- YTD
- 8.44%
- 1Y
- 28.19%
- 3Y*
- 22.48%
- 5Y*
- 8.56%
- 10Y*
- 4.67%
- ALL TIME*
- 8.59%
EMO
- 1D
- 1.14%
- 1M
- 5.46%
- 6M
- 10.79%
- YTD
- 21.52%
- 1Y
- 21.50%
- 3Y*
- 28.83%
- 5Y*
- 29.82%
- 10Y*
- 7.75%
- ALL TIME*
- 4.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.85M | $2.08M | $2.48M | |
| $669.38K | $686.53K | $867.72K |
TEI vs. EMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TEI Templeton Emerging Markets Income Fund | 8.44% | 45.41% | 11.77% | 3.78% | -15.49% | 3.48% | -9.06% | 3.51% | -6.20% | 8.09% |
EMO ClearBridge Energy Midstream Opportunity Fund | 21.52% | 7.38% | 44.45% | 31.76% | 40.13% | 74.70% | -64.47% | 19.60% | -25.73% | 0.07% |
Correlation
The correlation between TEI and EMO is 0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.01 |
Correlation (3Y) Balances recent behavior with more history. | 0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.24 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.23 |
Correlation (All Time) Calculated using the full available price history since Jun 14, 2011 | 0.25 |
Over the past year, the correlation between TEI and EMO has dropped to 0.01 - well below their long-term average of 0.25, suggesting their price drivers have been diverging.
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Return for Risk
TEI vs. EMO — Risk / Return Rank
TEI
EMO
TEI vs. EMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Templeton Emerging Markets Income Fund (TEI) and ClearBridge Energy Midstream Opportunity Fund (EMO). 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.
| TEI | EMO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.58 | ||
| Sortino ratioReturn per unit of downside risk | +0.72 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.23 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 1.89 | +0.03 |
| Martin ratioReturn relative to average drawdown | 6.23 | 3.92 | +2.31 |
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Drawdowns
TEI vs. EMO - Drawdown Comparison
The maximum TEI drawdown since its inception was -51.50%, smaller than the maximum EMO drawdown of -95.06%. Use the drawdown chart below to compare losses from any high point for TEI and EMO.
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Drawdown Indicators
| TEI | EMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.50% | -95.06% | +43.56% |
Max Drawdown (1Y)Largest decline over 1 year | -14.49% | -10.87% | -3.62% |
Max Drawdown (3Y)Largest decline over 3 years | -14.49% | -18.81% | +4.32% |
Max Drawdown (5Y)Largest decline over 5 years | -39.74% | -28.59% | -11.15% |
Max Drawdown (10Y)Largest decline over 10 years | -43.83% | -93.02% | +49.19% |
Current DrawdownCurrent decline from peak | -1.84% | -2.16% | +0.32% |
Average DrawdownAverage peak-to-trough decline | -10.72% | -31.67% | +20.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.47% | 5.24% | -0.77% |
Volatility
TEI vs. EMO - Volatility Comparison
The current volatility for Templeton Emerging Markets Income Fund (TEI) is 3.44%, while ClearBridge Energy Midstream Opportunity Fund (EMO) has a volatility of 5.06%. This indicates that TEI experiences smaller price fluctuations and is considered to be less risky than EMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TEI | EMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.44% | 5.06% | -1.62% |
Volatility (6M)Calculated over the trailing 6-month period | 11.90% | 12.66% | -0.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.26% | 16.45% | -1.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.43% | 26.05% | -6.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.55% | 41.13% | -23.58% |
Dividends
TEI vs. EMO - Dividend Comparison
TEI's dividend yield for the trailing twelve months is around 13.28%, more than EMO's 8.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMO ClearBridge Energy Midstream Opportunity Fund | 8.35% | 9.41% | 7.16% | 6.79% | 6.71% | 6.71% | 15.82% | 10.94% | 16.39% | 10.85% | 9.76% | 11.88% |
TEI Templeton Emerging Markets Income Fund | 13.28% | 13.57% | 11.11% | 11.09% | 11.88% | 10.44% | 7.34% | 8.51% | 9.27% | 5.56% | 7.33% | 8.24% |
Frequently Asked Questions
TEI and EMO have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMO has higher volatility (5.06%) compared to TEI (3.44%). In terms of maximum drawdown, TEI dropped -51.50% vs EMO's -95.06%.
TEI currently has the higher Sharpe Ratio (1.83 vs 1.25), 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.
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