This article examined across 15 countries to what extent primary teacher education can be regarded as effective and the possible reasons for inequity. The effectiveness of teacher education was examined by taking two indicators into account: future teachers’ mean achievement on a paper-and-pencil test as an indicator of quality, and the variability of teacher achievement due to background characteristics as an indicator of equity. The authors conclude that none of the TEDS-M countries was successful on both indicators of teacher education effectiveness with respect to background characteristics, gender, and language. Singapore and Taiwan may be regarded as the most effective teacher education systems, with high achievement and gender equity on MPCK and high achievement and language.