TEMD vs. CLSE

Last updated Jul 30, 2026

TEMD (Templeton Emerging Markets Debt ETF) and CLSE (Convergence Long/Short Equity ETF) are both exchange-traded funds - TEMD is a Actively Managed fund actively managed by Franklin Templeton Investments, while CLSE is a Long-Short fund actively managed by Convergence Investment Partners. Both are actively managed. Their 0.45 correlation means their historical movements had little consistent relationship. TEMD charges 0.45%/yr vs 1.52%/yr for CLSE.

Performance

TEMD vs. CLSE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Templeton Emerging Markets Debt ETF (TEMD) and Convergence Long/Short Equity ETF (CLSE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TEMD

• 1D: -0.46%
• 1M: -1.80%
• 6M: 0.58%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

CLSE

• 1D: -0.48%
• 1M: -1.88%
• 6M: 18.34%
• YTD: 22.28%
• 1Y: 41.83%
• 3Y*: 29.03%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.01%

*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)
CLSE Convergence Long/Short Equity ETF	$14.56M	$11.58M	$9.63M
TEMD Templeton Emerging Markets Debt ETF	$2.05K	$7.21K	$12.55K

TEMD vs. CLSE - Yearly Performance Comparison

	2026 (YTD)
TEMD Templeton Emerging Markets Debt ETF	0.84%
CLSE Convergence Long/Short Equity ETF	20.52%

Correlation

The correlation between TEMD and CLSE is 0.45, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 22, 2026	0.45

Return for Risk

TEMD vs. CLSE — Risk / Return Rank

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

TEMD

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

CLSE

CLSE Risk / Return Rank: 96
CLSE Sharpe Ratio Rank: 96
CLSE Sortino Ratio Rank: 95
CLSE Omega Ratio Rank: 94
CLSE Calmar Ratio Rank: 97
CLSE Martin Ratio Rank: 97

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.

TEMD vs. CLSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Templeton Emerging Markets Debt ETF (TEMD) and Convergence Long/Short Equity ETF (CLSE). 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.

	TEMD	CLSE	Difference
Sharpe ratio: Return per unit of total volatility	—	3.06	—
Sortino ratio: Return per unit of downside risk	—	4.19	—
Omega ratio: Gain probability vs. loss probability	—	1.53	—
Calmar ratio: Return relative to maximum drawdown	—	8.67	—
Martin ratio: Return relative to average drawdown	—	29.31	—

Drawdowns

TEMD vs. CLSE - Drawdown Comparison

The maximum TEMD drawdown since its inception was -4.34%, smaller than the maximum CLSE drawdown of -16.45%. Use the drawdown chart below to compare losses from any high point for TEMD and CLSE.

Drawdown Indicators

	TEMD	CLSE	Difference
Max Drawdown Largest peak-to-trough decline	-4.34%	-16.45%	+12.11%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.85%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-16.45%	—
Current Drawdown Current decline from peak	-1.93%	-2.99%	+1.06%
Average Drawdown Average peak-to-trough decline	-1.21%	-3.52%	+2.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.43%	—

Volatility

Volatility by Period

	TEMD	CLSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.06%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.76%	—
Volatility (1Y) Calculated over the trailing 1-year period	5.77%	13.73%	-7.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.77%	13.86%	-8.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.77%	13.86%	-8.09%

TEMD vs. CLSE - Expense Ratio Comparison

TEMD has a 0.45% expense ratio, which is lower than CLSE's 1.52% expense ratio.

Dividends

TEMD vs. CLSE - Dividend Comparison

TEMD's dividend yield for the trailing twelve months is around 3.10%, more than CLSE's 0.78% yield.

Position	TTM	2025	2024	2023	2022
CLSE Convergence Long/Short Equity ETF	0.78%	0.95%	0.93%	1.21%	0.85%
TEMD Templeton Emerging Markets Debt ETF	3.10%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TEMD and CLSE in my portfolio?

TEMD and CLSE 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.

Which ETF is better, TEMD or CLSE?

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, TEMD or CLSE?

TEMD is cheaper with a 0.45% expense ratio, compared with 1.52% for CLSE.

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

TEMD has the higher dividend yield at 3.10%, compared with 0.78% for CLSE.

What is the main difference between TEMD and CLSE?

TEMD is categorized as Actively Managed, while CLSE is Long-Short. They also come from different issuers: Franklin Templeton Investments and Convergence Investment Partners. Their fees differ too: 0.45% for TEMD and 1.52% for CLSE.