TZINX vs. IMFL

Last updated Jun 4, 2026

TZINX (Templeton Global Balanced Fund) and IMFL (Invesco International Developed Dynamic Multifactor ETF) are both funds - TZINX is a Global Allocation fund managed by Franklin Templeton, while IMFL is a Global Equities fund tracking the FTSE Developed ex US Invesco Dynamic Multifactor Index. Over the past 5 years, TZINX returned 5.04%/yr vs 8.50%/yr for IMFL. Their correlation of 0.80 suggests significant overlap in exposure. TZINX charges 0.95%/yr vs 0.34%/yr for IMFL.

Performance

TZINX vs. IMFL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Templeton Global Balanced Fund (TZINX) and Invesco International Developed Dynamic Multifactor ETF (IMFL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TZINX achieves a 9.13% return, which is significantly lower than IMFL's 17.58% return.

TZINX

• 1D: 0.32%
• 1M: 3.42%
• YTD: 9.13%
• 6M: 11.15%
• 1Y: 25.83%
• 3Y*: 15.20%
• 5Y*: 5.04%
• 10Y*: 5.01%

IMFL

• 1D: -0.54%
• 1M: 5.50%
• YTD: 17.58%
• 6M: 20.95%
• 1Y: 33.05%
• 3Y*: 17.51%
• 5Y*: 8.50%
• 10Y*: —

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

TZINX vs. IMFL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TZINX Templeton Global Balanced Fund	9.13%	27.85%	0.73%	14.45%	-14.31%	-5.12%
IMFL Invesco International Developed Dynamic Multifactor ETF	17.58%	30.89%	-3.57%	25.51%	-17.32%	6.94%

Correlation

The correlation between TZINX and IMFL is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Feb 25, 2021	0.80

The correlation between TZINX and IMFL has been stable across timeframes, ranging from 0.75 to 0.80 - a consistent structural relationship.

Return for Risk

TZINX vs. IMFL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TZINX

TZINX Risk / Return Rank: 67
TZINX Sharpe Ratio Rank: 74
TZINX Sortino Ratio Rank: 69
TZINX Omega Ratio Rank: 70
TZINX Calmar Ratio Rank: 64
TZINX Martin Ratio Rank: 58

IMFL

IMFL Risk / Return Rank: 60
IMFL Sharpe Ratio Rank: 64
IMFL Sortino Ratio Rank: 61
IMFL Omega Ratio Rank: 61
IMFL Calmar Ratio Rank: 57
IMFL Martin Ratio Rank: 57

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TZINX vs. IMFL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Templeton Global Balanced Fund (TZINX) and Invesco International Developed Dynamic Multifactor ETF (IMFL). 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.

	TZINX	IMFL	Difference
Sharpe ratio: Return per unit of total volatility	2.51	2.12	+0.39
Sortino ratio: Return per unit of downside risk	3.48	2.88	+0.60
Omega ratio: Gain probability vs. loss probability	1.47	1.37	+0.09
Calmar ratio: Return relative to maximum drawdown	3.08	2.82	+0.26
Martin ratio: Return relative to average drawdown	11.67	9.97	+1.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TZINX vs. IMFL - Sharpe Ratio Comparison

The current TZINX Sharpe Ratio is 2.51, which is comparable to the IMFL Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of TZINX and IMFL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TZINX	IMFL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.51	2.12	+0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.53	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.62	-0.15

Drawdowns

TZINX vs. IMFL - Drawdown Comparison

The maximum TZINX drawdown since its inception was -36.06%, which is greater than IMFL's maximum drawdown of -33.26%. Use the drawdown chart below to compare losses from any high point for TZINX and IMFL.

Drawdown Indicators

	TZINX	IMFL	Difference
Max Drawdown Largest peak-to-trough decline	-36.06%	-33.26%	-2.80%
Max Drawdown (1Y) Largest decline over 1 year	-8.42%	-11.77%	+3.35%
Max Drawdown (3Y) Largest decline over 3 years	-11.50%	-13.52%	+2.02%
Max Drawdown (5Y) Largest decline over 5 years	-29.60%	-33.26%	+3.66%
Max Drawdown (10Y) Largest decline over 10 years	-29.60%	—	—
Current Drawdown Current decline from peak	0.00%	-0.54%	+0.54%
Average Drawdown Average peak-to-trough decline	-7.48%	-7.24%	-0.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.22%	3.32%	-1.10%

Volatility

TZINX vs. IMFL - Volatility Comparison

The current volatility for Templeton Global Balanced Fund (TZINX) is 3.13%, while Invesco International Developed Dynamic Multifactor ETF (IMFL) has a volatility of 5.74%. This indicates that TZINX experiences smaller price fluctuations and is considered to be less risky than IMFL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TZINX	IMFL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.13%	5.74%	-2.61%
Volatility (6M) Calculated over the trailing 6-month period	8.35%	13.08%	-4.73%
Volatility (1Y) Calculated over the trailing 1-year period	10.36%	15.71%	-5.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.89%	16.05%	-4.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.33%	15.99%	-4.66%

TZINX vs. IMFL - Expense Ratio Comparison

TZINX has a 0.95% expense ratio, which is higher than IMFL's 0.34% expense ratio.

Dividends

TZINX vs. IMFL - Dividend Comparison

TZINX's dividend yield for the trailing twelve months is around 5.51%, more than IMFL's 2.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IMFL Invesco International Developed Dynamic Multifactor ETF	2.87%	2.88%	3.56%	3.85%	3.35%	3.94%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TZINX Templeton Global Balanced Fund	5.51%	4.00%	5.43%	3.68%	3.47%	2.24%	2.12%	4.43%	4.55%	2.82%	1.12%	7.19%

Frequently Asked Questions

Can I hold both TZINX and IMFL in my portfolio?

TZINX and IMFL have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TZINX or IMFL?

IMFL has higher volatility (5.74%) compared to TZINX (3.13%). In terms of maximum drawdown, TZINX dropped -36.06% vs IMFL's -33.26%.

Which has better risk-adjusted returns?

TZINX currently has the higher Sharpe Ratio (2.51 vs 2.12), 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.