TFSCX vs. KGGIX

Last updated Aug 1, 2026

TFSCX (Templeton Institutional Foreign Smaller Companies Series Fund) and KGGIX (Kopernik Global All-Cap Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 10 years, TFSCX returned 4.71%/yr vs 11.76%/yr for KGGIX. Their 0.59 correlation means they have sometimes moved together and sometimes differently. TFSCX charges 1.02%/yr vs 1.01%/yr for KGGIX.

Performance

TFSCX vs. KGGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Templeton Institutional Foreign Smaller Companies Series Fund (TFSCX) and Kopernik Global All-Cap Fund (KGGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TFSCX achieves a 7.86% return, which is significantly higher than KGGIX's 5.22% return. Over the past 10 years, TFSCX has underperformed KGGIX with an annualized return of 4.71%, while KGGIX has yielded a comparatively higher 11.76% annualized return.

TFSCX

• 1D: 2.04%
• 1M: -2.40%
• 6M: 0.00%
• YTD: 7.86%
• 1Y: 9.99%
• 3Y*: 6.26%
• 5Y*: 0.19%
• 10Y*: 4.71%
• ALL TIME*: 8.37%

KGGIX

• 1D: 1.37%
• 1M: 3.35%
• 6M: -3.49%
• YTD: 5.22%
• 1Y: 29.73%
• 3Y*: 20.55%
• 5Y*: 11.58%
• 10Y*: 11.76%
• ALL TIME*: 9.26%

*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)
KGGIX Kopernik Global All-Cap Fund	$0.00	$0.00	$0.00
TFSCX Templeton Institutional Foreign Smaller Companies Series Fund	$0.00	$0.00	$0.00

TFSCX vs. KGGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TFSCX Templeton Institutional Foreign Smaller Companies Series Fund	7.86%	10.61%	-2.43%	15.89%	-23.28%	10.58%	8.95%	22.86%	-18.60%	30.60%
KGGIX Kopernik Global All-Cap Fund	5.22%	64.88%	-4.91%	13.43%	-9.05%	16.86%	37.23%	10.00%	-11.07%	8.98%

Correlation

The correlation between TFSCX and KGGIX is 0.60, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.60
Correlation (3Y) Balances recent behavior with more history.	0.54
Correlation (5Y) Shows whether the relationship held over a longer period.	0.62
Correlation (10Y) Provides a long-term view across more market conditions.	0.58
Correlation (All Time) Calculated using the full available price history since Nov 6, 2013	0.59

The correlation between TFSCX and KGGIX has been stable across timeframes, ranging from 0.54 to 0.62 - a consistent structural relationship.

Return for Risk

TFSCX vs. KGGIX — Risk / Return Rank

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

TFSCX

TFSCX Risk / Return Rank: 16
TFSCX Sharpe Ratio Rank: 16
TFSCX Sortino Ratio Rank: 17
TFSCX Omega Ratio Rank: 17
TFSCX Calmar Ratio Rank: 16
TFSCX Martin Ratio Rank: 16

KGGIX

KGGIX Risk / Return Rank: 66
KGGIX Sharpe Ratio Rank: 79
KGGIX Sortino Ratio Rank: 72
KGGIX Omega Ratio Rank: 74
KGGIX Calmar Ratio Rank: 67
KGGIX Martin Ratio Rank: 37

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.

TFSCX vs. KGGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Templeton Institutional Foreign Smaller Companies Series Fund (TFSCX) and Kopernik Global All-Cap Fund (KGGIX). 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.

	TFSCX	KGGIX	Difference
Sharpe ratio: Return per unit of total volatility	0.68	1.84	-1.16
Sortino ratio: Return per unit of downside risk	1.04	2.39	-1.34
Omega ratio: Gain probability vs. loss probability	1.13	1.32	-0.19
Calmar ratio: Return relative to maximum drawdown	0.83	2.16	-1.33
Martin ratio: Return relative to average drawdown	2.34	5.32	-2.98

TFSCX vs. KGGIX - Sharpe Ratio Comparison

The current TFSCX Sharpe Ratio is 0.68, which is lower than the KGGIX Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of TFSCX and KGGIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TFSCX vs. KGGIX - Drawdown Comparison

The maximum TFSCX drawdown since its inception was -61.28%, which is greater than KGGIX's maximum drawdown of -45.11%. Use the drawdown chart below to compare losses from any high point for TFSCX and KGGIX.

Drawdown Indicators

	TFSCX	KGGIX	Difference
Max Drawdown Largest peak-to-trough decline	-61.28%	-45.11%	-16.17%
Max Drawdown (1Y) Largest decline over 1 year	-11.58%	-13.27%	+1.69%
Max Drawdown (3Y) Largest decline over 3 years	-20.10%	-13.76%	-6.34%
Max Drawdown (5Y) Largest decline over 5 years	-37.98%	-26.43%	-11.55%
Max Drawdown (10Y) Largest decline over 10 years	-43.43%	-31.59%	-11.84%
Current Drawdown Current decline from peak	-5.02%	-8.97%	+3.95%
Average Drawdown Average peak-to-trough decline	-11.18%	-9.52%	-1.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.09%	5.37%	-1.28%

Volatility

TFSCX vs. KGGIX - Volatility Comparison

Templeton Institutional Foreign Smaller Companies Series Fund (TFSCX) has a higher volatility of 4.39% compared to Kopernik Global All-Cap Fund (KGGIX) at 3.39%. This indicates that TFSCX's price experiences larger fluctuations and is considered to be riskier than KGGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TFSCX	KGGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.39%	3.39%	+1.00%
Volatility (6M) Calculated over the trailing 6-month period	11.73%	12.65%	-0.92%
Volatility (1Y) Calculated over the trailing 1-year period	14.12%	15.60%	-1.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.80%	15.29%	+1.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.93%	14.96%	+0.97%

TFSCX vs. KGGIX - Expense Ratio Comparison

TFSCX has a 1.02% expense ratio, which is higher than KGGIX's 1.01% expense ratio.

Dividends

TFSCX vs. KGGIX - Dividend Comparison

TFSCX's dividend yield for the trailing twelve months is around 66.55%, more than KGGIX's 15.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KGGIX Kopernik Global All-Cap Fund	15.64%	16.46%	1.04%	8.60%	13.59%	9.30%	4.81%	3.02%	0.25%	4.40%	3.34%	0.81%
TFSCX Templeton Institutional Foreign Smaller Companies Series Fund	66.55%	71.78%	14.37%	1.28%	2.34%	16.40%	1.23%	3.06%	14.00%	3.83%	1.83%	1.43%

Frequently Asked Questions

Can I hold both TFSCX and KGGIX in my portfolio?

TFSCX and KGGIX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TFSCX or KGGIX?

TFSCX has higher volatility (4.39%) compared to KGGIX (3.39%). In terms of maximum drawdown, TFSCX dropped -61.28% vs KGGIX's -45.11%.

Which has better risk-adjusted returns?

KGGIX currently has the higher Sharpe Ratio (1.84 vs 0.68), 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.