In plain terms — Templeton Emerging Markets Fund
Shares currently cost about 13.3% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 10.2% discount, so today's level is not wide for this fund (Z-score -0.5). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 4.5% a year of the share price (3.9% of the assets). That is a payout rate, not a return: part of it may be capital being handed back, and a one-off special payment in the last year is excluded from the regular rate.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.15 of assets — a ReinvestCapture™ rate of 5.2%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 43.6% over the past year including distributions (NAV total return).
Guided view hides the statistical panels. Switch to Expert view in the grey bar to see them. Nothing here is advice.
Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -11.07% | 0.60% | +0.10 | 64 |
| 6 months | -10.55% | 1.01% | -0.45 | 126 |
| 1 year | -10.20% | 1.49% | -0.54 | 250 |
| 3 years | -12.62% | — | — | — |
| 5 years | -12.45% | — | — | — |
Current contemporaneous premium/discount -11.01% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -12.79% to -6.22%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -1.45% | -1.50% | +27.42% | +33.13% | +24.45% | +4.66% |
| Market price total return | -0.40% | -0.45% | +31.75% | +45.86% | +34.75% | +13.48% |
| NAV return | -1.77% | -0.37% | +29.79% | +32.18% | +22.70% | +4.64% |
| NAV total return | -0.84% | +0.58% | +33.72% | +43.63% | +31.62% | +12.43% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
The Templeton Emerging Markets Fund is a closed-ended equity mutual fund initially established by Franklin Resources Inc. Its management is overseen by Templeton Asset Management Ltd. This fund allocates capital to publicly traded companies situated in emerging economies around the globe. It aims to build a portfolio comprising stocks from businesses operating across a broad spectrum of sectors, with a core focus on identifying value stocks. The selection process involves thorough fundamental analysis, scrutinizing elements such as prospective long-term earnings, intrinsic asset value, and potential for robust cash flow. The fund measures its performance against the MSCI Emerging Markets Index. Established on February 26, 1987, the fund is officially domiciled in the United States.
CEF Explorer research page for Templeton Emerging Markets Fund. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.