TEMGX vs. EZA
TEMGX (Templeton Global Smaller Companies Fund) and EZA (iShares MSCI South Africa ETF) are both funds - TEMGX is a Global Equities fund managed by Franklin Templeton, while EZA is a Emerging Markets Equities fund tracking the MSCI South Africa Index. Over the past 10 years, TEMGX returned 6.24%/yr vs 7.37%/yr for EZA. A 0.60 correlation means they provide meaningful diversification when combined. TEMGX charges 1.31%/yr vs 0.59%/yr for EZA.
Performance
TEMGX vs. EZA - Performance Comparison
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Returns By Period
In the year-to-date period, TEMGX achieves a 8.53% return, which is significantly higher than EZA's -1.61% return. Over the past 10 years, TEMGX has underperformed EZA with an annualized return of 6.24%, while EZA has yielded a comparatively higher 7.37% annualized return.
TEMGX
- 1D
- -0.77%
- 1M
- 2.18%
- YTD
- 8.53%
- 6M
- 8.12%
- 1Y
- 16.65%
- 3Y*
- 9.02%
- 5Y*
- 0.45%
- 10Y*
- 6.24%
EZA
- 1D
- 0.97%
- 1M
- -0.10%
- YTD
- -1.61%
- 6M
- 6.48%
- 1Y
- 35.13%
- 3Y*
- 26.68%
- 5Y*
- 8.99%
- 10Y*
- 7.37%
TEMGX vs. EZA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TEMGX Templeton Global Smaller Companies Fund | 8.53% | 5.43% | 3.42% | 16.62% | -24.00% | 15.06% | 13.23% | 24.50% | -18.10% | 24.94% |
EZA iShares MSCI South Africa ETF | -1.61% | 75.20% | 7.16% | 1.51% | -5.18% | 7.91% | -5.19% | 9.83% | -25.24% | 36.03% |
Correlation
The correlation between TEMGX and EZA is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.58 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2003 | 0.60 |
The correlation between TEMGX and EZA has been stable across timeframes, ranging from 0.57 to 0.60 - a consistent structural relationship.
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Return for Risk
TEMGX vs. EZA — Risk / Return Rank
TEMGX
EZA
TEMGX vs. EZA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Templeton Global Smaller Companies Fund (TEMGX) and iShares MSCI South Africa ETF (EZA). 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.
| TEMGX | EZA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.21 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 1.51 | -0.16 |
| Martin ratioReturn relative to average drawdown | 4.46 | 4.21 | +0.25 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TEMGX | EZA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.18 | 1.14 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | 0.31 | -0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.24 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.28 | +0.18 |
Drawdowns
TEMGX vs. EZA - Drawdown Comparison
The maximum TEMGX drawdown since its inception was -68.70%, which is greater than EZA's maximum drawdown of -64.64%. Use the drawdown chart below to compare losses from any high point for TEMGX and EZA.
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Drawdown Indicators
| TEMGX | EZA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.70% | -64.64% | -4.06% |
Max Drawdown (1Y)Largest decline over 1 year | -12.71% | -23.31% | +10.60% |
Max Drawdown (3Y)Largest decline over 3 years | -22.84% | -23.31% | +0.47% |
Max Drawdown (5Y)Largest decline over 5 years | -36.20% | -34.94% | -1.26% |
Max Drawdown (10Y)Largest decline over 10 years | -41.61% | -62.25% | +20.64% |
Current DrawdownCurrent decline from peak | -1.25% | -17.05% | +15.80% |
Average DrawdownAverage peak-to-trough decline | -11.95% | -16.92% | +4.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.86% | 8.37% | -4.51% |
Volatility
TEMGX vs. EZA - Volatility Comparison
The current volatility for Templeton Global Smaller Companies Fund (TEMGX) is 4.67%, while iShares MSCI South Africa ETF (EZA) has a volatility of 10.56%. This indicates that TEMGX experiences smaller price fluctuations and is considered to be less risky than EZA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TEMGX | EZA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.67% | 10.56% | -5.89% |
Volatility (6M)Calculated over the trailing 6-month period | 11.06% | 26.12% | -15.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.61% | 31.03% | -16.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.32% | 28.69% | -11.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.33% | 31.37% | -14.04% |
TEMGX vs. EZA - Expense Ratio Comparison
TEMGX has a 1.31% expense ratio, which is higher than EZA's 0.59% expense ratio.
Dividends
TEMGX vs. EZA - Dividend Comparison
TEMGX's dividend yield for the trailing twelve months is around 4.32%, less than EZA's 6.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EZA iShares MSCI South Africa ETF | 6.26% | 6.16% | 7.26% | 2.84% | 3.90% | 2.05% | 5.51% | 12.27% | 3.81% | 1.55% | 4.10% | 3.03% |
TEMGX Templeton Global Smaller Companies Fund | 4.32% | 4.69% | 2.98% | 1.09% | 3.14% | 10.66% | 2.58% | 2.16% | 9.12% | 3.65% | 0.33% | 0.21% |
Frequently Asked Questions
TEMGX and EZA have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EZA has higher volatility (10.56%) compared to TEMGX (4.67%). In terms of maximum drawdown, TEMGX dropped -68.70% vs EZA's -64.64%.
TEMGX currently has the higher Sharpe Ratio (1.18 vs 1.14), 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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