TEMD vs. TCV

Last updated Jul 10, 2026

TEMD (Templeton Emerging Markets Debt ETF) and TCV (Towle Value ETF) are both exchange-traded funds - TEMD is a Actively Managed fund actively managed by Franklin Templeton Investments, while TCV is a Small Cap Value Equities fund actively managed by Towle. Both are actively managed. At a 0.41 correlation, their price movements are largely independent. TEMD charges 0.45%/yr vs 0.85%/yr for TCV.

Performance

TEMD vs. TCV - Performance Comparison

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

Returns By Period

TEMD

• 1D: -0.12%
• 1M: 1.76%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TCV

• 1D: 0.94%
• 1M: 2.06%
• 6M: 16.12%
• YTD: 24.97%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TEMD vs. TCV - Yearly Performance Comparison

	2026 (YTD)
TEMD Templeton Emerging Markets Debt ETF	2.45%
TCV Towle Value ETF	10.64%

Correlation

The correlation between TEMD and TCV is 0.41, 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	0.41

Return for Risk

TEMD vs. TCV - Risk-Adjusted Trends Comparison

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

TEMD vs. TCV - Drawdown Comparison

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

Drawdown Indicators

	TEMD	TCV	Difference
Max Drawdown Largest peak-to-trough decline	-4.34%	-12.23%	+7.89%
Current Drawdown Current decline from peak	-0.36%	-0.69%	+0.33%
Average Drawdown Average peak-to-trough decline	-1.20%	-3.35%	+2.15%

Volatility

Volatility by Period

	TEMD	TCV	Difference
Volatility (1Y) Calculated over the trailing 1-year period	5.95%	21.26%	-15.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.95%	21.26%	-15.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.95%	21.26%	-15.31%

TEMD vs. TCV - Expense Ratio Comparison

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

Dividends

TEMD vs. TCV - Dividend Comparison

TEMD's dividend yield for the trailing twelve months is around 3.06%, more than TCV's 0.58% yield.

Position	TTM	2025
TCV Towle Value ETF	0.58%	0.31%
TEMD Templeton Emerging Markets Debt ETF	3.06%	0.00%

Frequently Asked Questions

Can I hold both TEMD and TCV in my portfolio?

TEMD and TCV have a correlation of 0.41, 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 TCV?

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 TCV?

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

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

TEMD has the higher dividend yield at 3.06%, compared with 0.58% for TCV.

What is the main difference between TEMD and TCV?

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