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Tata & Franklin PE Funds Compared

They are totally dissimilar funds and therefore cannot be compared

Which is a better fund: Tata MF PE Ratio or Franklin Templeton PE Ratio?

There is no similarity. Franklin Templeton's Dynamic PE Ratio Fund is an asset allocation fund in which equity and debt allocation keeps changing and that depends on the PE of the Sensex.

Tata’s PE Ratio Fund invests in low PE companies and is purely an equity fund. That means it is always invested in equity.

Check performance:

FT India Dynamic PE Ratio
All Franklin Templeton Funds

Tata Equity PE
All Tata MF Funds

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