TZINX vs. TFEQX

Last updated Aug 5, 2026

TZINX (Templeton Global Balanced Fund) and TFEQX (Templeton Institutional Fund International Equity Series) are both mutual funds - TZINX is a Global Allocation fund managed by Franklin Templeton, while TFEQX is a Foreign Large Cap Equities fund managed by Franklin Templeton. Over the past 10 years, TZINX returned 5.25%/yr vs 8.87%/yr for TFEQX. Their correlation of 0.87 means they have usually moved in the same direction. TZINX charges 0.95%/yr vs 0.83%/yr for TFEQX.

Performance

TZINX vs. TFEQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Templeton Global Balanced Fund (TZINX) and Templeton Institutional Fund International Equity Series (TFEQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with TZINX having a 13.62% return and TFEQX slightly higher at 13.81%. Over the past 10 years, TZINX has underperformed TFEQX with an annualized return of 5.25%, while TFEQX has yielded a comparatively higher 8.87% annualized return.

TZINX

• 1D: 0.62%
• 1M: 3.31%
• 6M: 6.55%
• YTD: 13.62%
• 1Y: 25.87%
• 3Y*: 15.18%
• 5Y*: 6.56%
• 10Y*: 5.25%
• ALL TIME*: 5.66%

TFEQX

• 1D: -0.09%
• 1M: -0.75%
• 6M: 6.09%
• YTD: 13.81%
• 1Y: 25.10%
• 3Y*: 20.15%
• 5Y*: 12.19%
• 10Y*: 8.87%
• ALL TIME*: 7.60%

*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)
TFEQX Templeton Institutional Fund International Equity Series	$0.00	$0.00	$0.00
TZINX Templeton Global Balanced Fund	$0.00	$0.00	$0.00

TZINX vs. TFEQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TZINX Templeton Global Balanced Fund	13.62%	27.85%	0.73%	14.45%	-14.31%	-1.44%	1.70%	7.58%	-9.18%	12.42%
TFEQX Templeton Institutional Fund International Equity Series	13.81%	31.58%	9.44%	22.68%	-9.21%	5.70%	5.29%	11.56%	-17.40%	19.78%

Correlation

The correlation between TZINX and TFEQX is 0.80, 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.	0.80
Correlation (3Y) Balances recent behavior with more history.	0.82
Correlation (5Y) Shows whether the relationship held over a longer period.	0.85
Correlation (10Y) Provides a long-term view across more market conditions.	0.84
Correlation (All Time) Calculated using the full available price history since Jul 1, 2005	0.87

The correlation between TZINX and TFEQX has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.

Return for Risk

TZINX vs. TFEQX — Risk / Return Rank

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

TZINX

TZINX Risk / Return Rank: 90
TZINX Sharpe Ratio Rank: 94
TZINX Sortino Ratio Rank: 92
TZINX Omega Ratio Rank: 91
TZINX Calmar Ratio Rank: 85
TZINX Martin Ratio Rank: 87

TFEQX

TFEQX Risk / Return Rank: 59
TFEQX Sharpe Ratio Rank: 57
TFEQX Sortino Ratio Rank: 60
TFEQX Omega Ratio Rank: 59
TFEQX Calmar Ratio Rank: 63
TFEQX Martin Ratio Rank: 57

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.

TZINX vs. TFEQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Templeton Global Balanced Fund (TZINX) and Templeton Institutional Fund International Equity Series (TFEQX). 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.

	TZINX	TFEQX	Difference
Sharpe ratio: Return per unit of total volatility	2.60	1.59	+1.00
Sortino ratio: Return per unit of downside risk	3.56	2.33	+1.24
Omega ratio: Gain probability vs. loss probability	1.48	1.30	+0.18
Calmar ratio: Return relative to maximum drawdown	3.25	2.31	+0.95
Martin ratio: Return relative to average drawdown	12.36	8.22	+4.14

TZINX vs. TFEQX - Sharpe Ratio Comparison

The current TZINX Sharpe Ratio is 2.60, which is higher than the TFEQX Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of TZINX and TFEQX, 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

TZINX vs. TFEQX - Drawdown Comparison

The maximum TZINX drawdown since its inception was -36.06%, smaller than the maximum TFEQX drawdown of -57.70%. Use the drawdown chart below to compare losses from any high point for TZINX and TFEQX.

Drawdown Indicators

	TZINX	TFEQX	Difference
Max Drawdown Largest peak-to-trough decline	-36.06%	-57.70%	+21.64%
Max Drawdown (1Y) Largest decline over 1 year	-8.42%	-11.56%	+3.14%
Max Drawdown (3Y) Largest decline over 3 years	-9.73%	-16.94%	+7.21%
Max Drawdown (5Y) Largest decline over 5 years	-27.83%	-29.20%	+1.37%
Max Drawdown (10Y) Largest decline over 10 years	-29.60%	-42.65%	+13.05%
Current Drawdown Current decline from peak	0.00%	-3.10%	+3.10%
Average Drawdown Average peak-to-trough decline	-7.43%	-10.47%	+3.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	3.24%	-1.03%

Volatility

TZINX vs. TFEQX - Volatility Comparison

The current volatility for Templeton Global Balanced Fund (TZINX) is 2.67%, while Templeton Institutional Fund International Equity Series (TFEQX) has a volatility of 4.00%. This indicates that TZINX experiences smaller price fluctuations and is considered to be less risky than TFEQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TZINX	TFEQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.67%	4.00%	-1.33%
Volatility (6M) Calculated over the trailing 6-month period	8.77%	14.36%	-5.59%
Volatility (1Y) Calculated over the trailing 1-year period	10.58%	16.80%	-6.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.92%	18.84%	-6.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.07%	17.37%	-6.30%

TZINX vs. TFEQX - Expense Ratio Comparison

TZINX has a 0.95% expense ratio, which is higher than TFEQX's 0.83% expense ratio.

Dividends

TZINX vs. TFEQX - Dividend Comparison

TZINX's dividend yield for the trailing twelve months is around 5.06%, less than TFEQX's 37.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TFEQX Templeton Institutional Fund International Equity Series	37.64%	42.84%	16.75%	14.08%	6.20%	34.04%	6.78%	6.65%	22.18%	1.60%	3.46%	2.46%
TZINX Templeton Global Balanced Fund	5.06%	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 TFEQX in my portfolio?

TZINX and TFEQX have a correlation of 0.80, 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 TFEQX?

TFEQX has higher volatility (4.00%) compared to TZINX (2.67%). In terms of maximum drawdown, TZINX dropped -36.06% vs TFEQX's -57.70%.

Which has better risk-adjusted returns?

TZINX currently has the higher Sharpe Ratio (2.60 vs 1.59), 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.