TEMR vs. TCV

Last updated Jul 10, 2026

TEMR (T. Rowe Price Emerging Markets Equity Research ETF) and TCV (Towle Value ETF) are both exchange-traded funds - TEMR is a Actively Managed fund actively managed by T. Rowe Price, while TCV is a Small Cap Value Equities fund actively managed by Towle. Both are actively managed. A 0.57 correlation means they provide meaningful diversification when combined. TEMR charges 0.40%/yr vs 0.85%/yr for TCV.

Performance

TEMR vs. TCV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Emerging Markets Equity Research ETF (TEMR) and Towle Value ETF (TCV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TEMR

• 1D: 0.85%
• 1M: 1.80%
• 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)

TEMR vs. TCV - Yearly Performance Comparison

	2026 (YTD)
TEMR T. Rowe Price Emerging Markets Equity Research ETF	15.02%
TCV Towle Value ETF	17.16%

Correlation

The correlation between TEMR and TCV 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 (All Time) Calculated using the full available price history since Mar 12, 2026	0.57

Return for Risk

TEMR vs. TCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Emerging Markets Equity Research ETF (TEMR) 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

TEMR vs. TCV - Drawdown Comparison

The maximum TEMR drawdown since its inception was -8.74%, smaller than the maximum TCV drawdown of -12.23%. Use the drawdown chart below to compare losses from any high point for TEMR and TCV.

Drawdown Indicators

	TEMR	TCV	Difference
Max Drawdown Largest peak-to-trough decline	-8.74%	-12.23%	+3.49%
Current Drawdown Current decline from peak	-6.13%	-0.69%	-5.44%
Average Drawdown Average peak-to-trough decline	-2.61%	-3.35%	+0.74%

Volatility

Volatility by Period

	TEMR	TCV	Difference
Volatility (1Y) Calculated over the trailing 1-year period	33.63%	21.26%	+12.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.63%	21.26%	+12.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.63%	21.26%	+12.37%

TEMR vs. TCV - Expense Ratio Comparison

TEMR has a 0.40% expense ratio, which is lower than TCV's 0.85% expense ratio.

Dividends

TEMR vs. TCV - Dividend Comparison

TEMR has not paid dividends to shareholders, while TCV's dividend yield for the trailing twelve months is around 0.58%.

Position	TTM	2025
TCV Towle Value ETF	0.58%	0.31%
TEMR T. Rowe Price Emerging Markets Equity Research ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both TEMR and TCV in my portfolio?

TEMR and TCV 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.

Which ETF is better, TEMR or TCV?

On fees, TEMR is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TEMR or TCV?

TEMR is cheaper with a 0.40% expense ratio, compared with 0.85% for TCV.

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

TCV has the higher dividend yield at 0.58%, compared with 0.00% for TEMR.

What is the main difference between TEMR and TCV?

TEMR is categorized as Actively Managed, while TCV is Small Cap Value Equities. They also come from different issuers: T. Rowe Price and Towle. Their fees differ too: 0.40% for TEMR and 0.85% for TCV.