TEI vs. IWMI
TEI (Templeton Emerging Markets Income Fund) and IWMI (NEOS Russell 2000 High Income ETF) are both funds - TEI is a Emerging Markets Bonds fund managed by Franklin Templeton Investments, while IWMI is a Derivative Income fund actively managed by Neos. Over the past year, TEI returned 28.00% vs 30.35% for IWMI. At a 0.36 correlation, their price movements are largely independent.
Performance
TEI vs. IWMI - Performance Comparison
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Returns By Period
In the year-to-date period, TEI achieves a 10.16% return, which is significantly lower than IWMI's 16.70% return.
TEI
- 1D
- -0.29%
- 1M
- 5.05%
- 6M
- 6.84%
- YTD
- 10.16%
- 1Y
- 28.00%
- 3Y*
- 22.15%
- 5Y*
- 9.44%
- 10Y*
- 4.94%
IWMI
- 1D
- -0.40%
- 1M
- 1.97%
- 6M
- 11.09%
- YTD
- 16.70%
- 1Y
- 30.35%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TEI vs. IWMI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
TEI Templeton Emerging Markets Income Fund | 10.16% | 45.41% | 1.71% |
IWMI NEOS Russell 2000 High Income ETF | 16.70% | 14.97% | 6.58% |
Correlation
The correlation between TEI and IWMI is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jun 25, 2024 | 0.37 |
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Return for Risk
TEI vs. IWMI — Risk / Return Rank
TEI
IWMI
TEI vs. IWMI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Templeton Emerging Markets Income Fund (TEI) and NEOS Russell 2000 High Income ETF (IWMI). 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 | IWMI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.35 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.94 | 3.63 | -1.69 |
| Martin ratioReturn relative to average drawdown | 6.31 | 14.92 | -8.61 |
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Drawdowns
TEI vs. IWMI - Drawdown Comparison
The maximum TEI drawdown since its inception was -51.50%, which is greater than IWMI's maximum drawdown of -23.88%. Use the drawdown chart below to compare losses from any high point for TEI and IWMI.
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Drawdown Indicators
| TEI | IWMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.50% | -23.88% | -27.62% |
Max Drawdown (1Y)Largest decline over 1 year | -14.49% | -8.40% | -6.09% |
Max Drawdown (3Y)Largest decline over 3 years | -14.49% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -39.74% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -43.83% | — | — |
Current DrawdownCurrent decline from peak | -0.29% | -1.21% | +0.92% |
Average DrawdownAverage peak-to-trough decline | -10.73% | -3.92% | -6.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.47% | 2.04% | +2.43% |
Volatility
TEI vs. IWMI - Volatility Comparison
Templeton Emerging Markets Income Fund (TEI) has a higher volatility of 3.54% compared to NEOS Russell 2000 High Income ETF (IWMI) at 3.15%. This indicates that TEI's price experiences larger fluctuations and is considered to be riskier than IWMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TEI | IWMI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.54% | 3.15% | +0.39% |
Volatility (6M)Calculated over the trailing 6-month period | 11.71% | 11.43% | +0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.45% | 15.28% | +0.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.41% | 17.72% | +1.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.55% | 17.72% | -0.17% |
Dividends
TEI vs. IWMI - Dividend Comparison
TEI's dividend yield for the trailing twelve months is around 12.87%, less than IWMI's 13.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWMI NEOS Russell 2000 High Income ETF | 13.42% | 14.05% | 8.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TEI Templeton Emerging Markets Income Fund | 12.87% | 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 IWMI have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TEI has higher volatility (3.54%) compared to IWMI (3.15%). In terms of maximum drawdown, TEI dropped -51.50% vs IWMI's -23.88%.
IWMI currently has the higher Sharpe Ratio (2.00 vs 1.82), 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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