TEI vs. VWOB
TEI (Templeton Emerging Markets Income Fund) and VWOB (Vanguard Emerging Markets Government Bond ETF) are both Emerging Markets Bonds funds. Over the past 10 years, TEI returned 4.67%/yr vs 3.04%/yr for VWOB. Their 0.38 correlation means their historical movements had little consistent relationship.
Performance
TEI vs. VWOB - Performance Comparison
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Returns By Period
In the year-to-date period, TEI achieves a 8.44% return, which is significantly higher than VWOB's 0.51% return. Over the past 10 years, TEI has outperformed VWOB with an annualized return of 4.67%, while VWOB has yielded a comparatively lower 3.04% 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%
VWOB
- 1D
- -0.05%
- 1M
- -1.73%
- 6M
- 0.17%
- YTD
- 0.51%
- 1Y
- 6.22%
- 3Y*
- 8.10%
- 5Y*
- 1.67%
- 10Y*
- 3.04%
- ALL TIME*
- 3.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $669.38K | $686.53K | $867.72K | |
| $31.27M | $31.92M | $36.19M |
TEI vs. VWOB - 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% |
VWOB Vanguard Emerging Markets Government Bond ETF | 0.51% | 13.49% | 5.20% | 10.68% | -17.39% | -1.80% | 5.65% | 14.46% | -2.92% | 8.41% |
Correlation
The correlation between TEI and VWOB is 0.45, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.45 |
Correlation (3Y) Balances recent behavior with more history. | 0.48 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.42 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.39 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2013 | 0.38 |
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Return for Risk
TEI vs. VWOB — Risk / Return Rank
TEI
VWOB
TEI vs. VWOB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Templeton Emerging Markets Income Fund (TEI) and Vanguard Emerging Markets Government Bond ETF (VWOB). 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 | VWOB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.59 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.23 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 1.47 | +0.46 |
| Martin ratioReturn relative to average drawdown | 6.23 | 5.83 | +0.39 |
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Drawdowns
TEI vs. VWOB - Drawdown Comparison
The maximum TEI drawdown since its inception was -51.50%, which is greater than VWOB's maximum drawdown of -26.98%. Use the drawdown chart below to compare losses from any high point for TEI and VWOB.
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Drawdown Indicators
| TEI | VWOB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.50% | -26.98% | -24.52% |
Max Drawdown (1Y)Largest decline over 1 year | -14.49% | -4.48% | -10.01% |
Max Drawdown (3Y)Largest decline over 3 years | -14.49% | -6.65% | -7.84% |
Max Drawdown (5Y)Largest decline over 5 years | -39.74% | -26.98% | -12.76% |
Max Drawdown (10Y)Largest decline over 10 years | -43.83% | -26.98% | -16.85% |
Current DrawdownCurrent decline from peak | -1.84% | -1.97% | +0.13% |
Average DrawdownAverage peak-to-trough decline | -10.72% | -4.75% | -5.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.47% | 1.12% | +3.35% |
Volatility
TEI vs. VWOB - Volatility Comparison
Templeton Emerging Markets Income Fund (TEI) has a higher volatility of 3.44% compared to Vanguard Emerging Markets Government Bond ETF (VWOB) at 1.35%. This indicates that TEI's price experiences larger fluctuations and is considered to be riskier than VWOB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TEI | VWOB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.44% | 1.35% | +2.09% |
Volatility (6M)Calculated over the trailing 6-month period | 11.90% | 4.48% | +7.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.26% | 5.31% | +9.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.43% | 9.20% | +10.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.55% | 9.34% | +8.21% |
Dividends
TEI vs. VWOB - Dividend Comparison
TEI's dividend yield for the trailing twelve months is around 13.28%, more than VWOB's 5.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
VWOB Vanguard Emerging Markets Government Bond ETF | 5.34% | 5.92% | 6.08% | 5.50% | 5.30% | 4.04% | 4.18% | 4.58% | 4.52% | 4.61% | 4.71% | 4.93% |
Frequently Asked Questions
TEI and VWOB have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TEI has higher volatility (3.44%) compared to VWOB (1.35%). In terms of maximum drawdown, TEI dropped -51.50% vs VWOB's -26.98%.
TEI currently has the higher Sharpe Ratio (1.83 vs 1.24), 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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