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Managed Fund Since 2023
Equity
TDF Templeton Dragon Fund Inc
Popular Documents
Overview
Fund Facts
Fund description
The fund seeks long-term capital appreciation by investing at least 45% of its total assets in the equity securities of “China companies,” as defined in the fund’s prospectus.
- Number of Issuers
As of 02/28/2026 (Updated Monthly) - 62
- Fund Inception Date
- 09/20/1994
- Total Net Assets
As of 02/28/2026 (Updated Monthly) - $340.26 Million
- Dividend Frequency, if any
- Quarterly
- Morningstar Category
5 - China Region
- Asset Class
- Equity
Identifiers
- Ticker
- TDF
- NAV Symbol
- N/A
- CUSIP Code
- 88018T101
Average Annual Total Returns As of 01/31/2026
- 41.00%1 Year
- 1.65%3 Years
- -8.25%5 Years
- 6.46%10 Years
- 8.25%Since Inception
09/20/1994
Performance data quoted represents past performance, which does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. Current performance may be lower or higher than the figures shown.
Top Sectors
As of 02/28/2026 % of Total (Updated Monthly)
Media & Entertainment14.40% | |
Consumer Discretionary Distribution & Retail13.14% | |
Materials11.41% | |
Technology Hardware & Equipment11.05% | |
Capital Goods8.05% |
Additional Fund Info
- Listing Exchange
- NYSE
- Fiscal Year End
- December 31
- Benchmark
- MSCI China All Shares Index-NR
- Lipper Classification
- Emerging Markets Funds
- Investment Style
- Blend
Trading Characteristics
- Shares Outstanding
- 25,181,761
- Daily Volume
- N/A
- Initial Offering (Shares of common stock /beneficial interest)
- 53,000,000.00
- Initial Offering Price
- $15.00
Manager
About the Team
Templeton Global Investments combines extensive local presence and expertise with a flexible investment approach to give clients access to a broad set of global growth opportunities.
Commentary Highlights
December 31, 2025- Markets: Chinese equities, after collectively posting three straight quarters of gains, ended the final quarter of 2025 with a decline. Chinese equities came under pressure after the Politburo signaled a more restrained approach for its stimulus in 2026.
- Contributors: Stock selection in the information technology, industrials and consumer discretionary sectors were accretive to returns relative to the benchmark MSCI China All Shares Index-NR. An underweight allocation in information technology supported relative strength further.
- Detractors: An underweight allocation in the energy sector and a lack of exposure to the utilities sector combined with stock selection in the financials sector to detract relatively.
- Outlook: China is at an interesting point in the equity market cycle. Following a prolonged period of underperformance relative to developed markets, investor sentiment has turned generally positive as government policy has pivoted to be stimulative. However, we have yet to see economic growth recover. This has led to a disconnect in the market between sentiment and fundamentals; we believe it is also one where we can add value—a stockpicker’s market.
Templeton Global Investments
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Managed Fund Since 2025
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Managed Fund Since 2020
Latest Insights
March 9, 2026
March 5, 2026
March 3, 2026
Performance
Calendar Year Returns
As of 01/31/2026
Templeton Dragon Fund Inc - Market Price (%)
Templeton Dragon Fund Inc - NAV (%)
MSCI China All Shares Index-NR (%)
Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Returns based on Market Price or NAV, and assume the reinvestment of all distributions at the Dividend Reinvestment Plan Price or NAV, respectively. Returns include the deduction of management fees, operating expenses and all other fund expenses, and do not reflect the deduction of brokerage commissions or taxes that investors may pay on distributions or the sale of shares. Returns for periods of less than one year are not annualized.
Portfolio
Assets
As of02/28/2026 (Updated Monthly)
- Total Net Assets
- $340.26 Million
Positions
As of 02/28/2026 (Updated Monthly)
Number of Issuers
- Fund
- 62
- Benchmark
- 560
Asset Allocation
As of 02/28/2026 % of Total (Updated Monthly)
| Holdings | Fund |
|---|---|
Equity | 93.23% |
Cash & Cash Equivalents | 6.77% |
Distributions & Tax
- Distribution Frequency
- QuarterlyThis fund is an ex-Dividend fund
Rates and Yields
Distribution Rate
At Net Asset Value (NAV) 3.02%
At Market Price 3.52%
Final composition of the current year’s distribution—income, capital gains and/or return of capital—are based on US tax rules and will be determined by February of the following year. For tax characterization of a distribution, such as return of capital and tax-exempt income, click on the “Tax Information” tab above.
Distributions Per Share
12/15/2025
09/18/2025
06/16/2025
03/17/2025
Annually, a fund must distribute all realized capital gains net of realized losses, so the fund will not be subject to an entity level income tax. A fund’s capital gain distribution in a particular year may be a result of the disposition of holdings that appreciated in value during prior years. Thus, while the fund may gain or lose value over the course of a year, a capital gain distribution paid by the fund may not be indicative of current performance of the fund.
The distributable amount of net capital gains are paid on a per-share basis to all investors who hold shares of the fund on the record date of the distribution and are recognized by the shareholder for tax purposes as of the ex-date of the distribution, regardless of when the gains or losses arose in the fund. Net gains on holdings held long term by the fund would be distributed to shareholders as a long-term capital gain distribution no matter how long the shareholder has owned shares in the fund.
Refer to the fund’s annual report for specific information regarding distributions.
Pricing
Pricing History
As of 03/10/2026 (Updated Daily)
Daily Fund Prices
As of 03/10/2026
Share Prices
As of 03/10/2026
52-Week Range
- Highest NAV
As of 01/28/2026 - $13.95
- Lowest NAV
As of 04/08/2025 - $9.78
- Highest Market Price
As of 02/11/2026 - $13.66
- Lowest Market Price
As of 04/07/2025 - $8.21
Premium / Discount
As of 03/10/2026
- Avg. of Market Price vs. NAV since Inception
- -12.97%
- Avg. of Market Price vs. NAV at Close
- -14.33%
Press Releases
01/16/2026
12/30/2025
12/05/2025
09/29/2025
09/08/2025
06/27/2025
06/06/2025
03/28/2025
03/07/2025
Documents
Fund Literature
| Name | Download | Add to Cart | |
|---|---|---|---|
| Factsheet - Templeton Dragon Fund Inc. | |||
| Portfolio Holdings - Templeton Dragon Fund Inc | |||
| Product Commentary - Templeton Dragon Fund Inc. | |||
| Flyer - Closed-End Funds Product Guide | |||
| Distribution Summary - Franklin Templeton Closed-End Fund |
Regulatory Documents
| Name | Download | Add to Cart | |
|---|---|---|---|
| Annual Report - Templeton Dragon Fund | |||
| Semi-Annual Report - Templeton Dragon Fund | |||
| TDF Section 19 Notice as of 12/31/25 | |||
| TDF Section 19 Notice as of 3/31/25 | |||
| TDF Section 19 Notice as of 6/30/25 | |||
| TDF Section 19 Notice as of 9/30/25 | |||
| Fiscal Q1 Holdings - Templeton Dragon Fund | |||
| Fiscal Q3 Holdings - Templeton Dragon Fund |
Risks
All investments involve risks, including possible loss of principal. International investments are subject to special risks, including currency fluctuations and social, economic and political uncertainties, which could increase volatility. These risks are magnified in emerging markets. There are special risks associated with investments in China, Hong Kong and Taiwan, including less liquidity, expropriation, confiscatory taxation, international trade tensions, nationalization, and exchange control regulations and rapid inflation, all of which can negatively impact the fund. Investments in Hong Kong and Taiwan could be adversely affected by its political and economic relationship with China. To the extent the fund invests in companies in a specific country or region, the fund may experience greater volatility than a fund that is more broadly diversified geographically. The portfolio is non-diversified and may invest in a relatively small number of issuers, which may negatively impact the fund's performance and result in greater fluctuation in the value of the fund's shares. The managers’ environmental social and governance (ESG) strategies may limit the types and number of investments available and, as a result, may forgo favorable market opportunities or underperform strategies that are not subject to such criteria. There is no guarantee that the strategy's ESG directives will be successful or will result in better performance.
Important Information
The Closed-End Funds are not sold or distributed by Franklin Distributors, LLC. (FD, LLC) or any Franklin Templeton affiliated companies. Unlike open-end funds, shares are not continually offered. Like other public companies, closed-end funds have a one-time initial public offering, and once their shares are first issued, are generally bought and sold through non-affiliated broker/dealers and trade on nationally recognized stock exchanges. Share prices will fluctuate with market conditions and, at the time of sale, may be worth more or less than your original investment. Shares of exchange-traded closed-end funds may trade at a discount or premium to their original offering price, and often trade at a discount to their net asset value. Investment return, market price and net asset value will fluctuate with changes in market conditions. The Funds are subject to investment risks, including the possible loss of principal invested.
Franklin Distributors, LLC. Member FINRA, SIPC. All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.
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Indexes are unmanaged, and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.
Important data provider notices and terms available at www.franklintempletondatasources.com.
Performance data quoted represents past performance, which does not guarantee future results.
CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
The JP Morgan EMBI Global Index tracks total returns for U.S. dollar-denominated debt instruments issued by emerging market sovereign and quasi-sovereign entities: Brady bonds, loans, Eurobonds and local market instruments.
Source: JP Morgan.
The MSCI China All Shares Index-NR captures large- and mid-cap representation across China A-shares, B-shares, H-shares, Red-chips, P-chips and foreign listings (e.g., ADRs). The index aims to reflect the opportunity set of China share classes listed in Hong Kong, Shanghai, Shenzhen and outside of China.
Source: MSCI makes no warranties and shall have no liability with respect to any MSCI data reproduced herein. No further redistribution or use is permitted. This report is not prepared or endorsed by MSCI.
Net Returns (NR) include income net of tax withholding when dividends are paid.
All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.