AVLV vs. INCE

Last updated Aug 4, 2026

AVLV (Avantis U.S. Large Cap Value ETF) and INCE (Franklin Income Equity Focus ETF) are both exchange-traded funds - AVLV is a Large Cap Value Equities fund actively managed by Avantis, while INCE is a Dividend fund actively managed by Franklin Templeton. Both are actively managed. Over the past 3 years, AVLV returned 21.00%/yr vs 15.52%/yr for INCE. Their correlation of 0.82 means they have usually moved in the same direction. AVLV charges 0.15%/yr vs 0.29%/yr for INCE.

Performance

AVLV vs. INCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis U.S. Large Cap Value ETF (AVLV) and Franklin Income Equity Focus ETF (INCE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVLV achieves a 23.60% return, which is significantly higher than INCE's 14.91% return.

AVLV

• 1D: 1.01%
• 1M: 2.49%
• 6M: 14.26%
• YTD: 23.60%
• 1Y: 37.90%
• 3Y*: 21.00%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.98%

INCE

• 1D: 0.47%
• 1M: 0.96%
• 6M: 7.74%
• YTD: 14.91%
• 1Y: 26.00%
• 3Y*: 15.52%
• 5Y*: 10.49%
• 10Y*: —
• ALL TIME*: 13.06%

*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)
AVLV Avantis U.S. Large Cap Value ETF	$110.88M	$105.15M	$154.25M
INCE Franklin Income Equity Focus ETF	$621.36K	$657.47K	$945.62K

AVLV vs. INCE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AVLV Avantis U.S. Large Cap Value ETF	23.60%	15.12%	17.49%	17.43%	-5.53%	6.27%
INCE Franklin Income Equity Focus ETF	14.91%	15.92%	10.70%	13.87%	-8.54%	8.32%

Correlation

The correlation between AVLV and INCE is 0.67, 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.	0.67
Correlation (3Y) Balances recent behavior with more history.	0.79
Correlation (All Time) Calculated using the full available price history since Sep 23, 2021	0.82

The correlation between AVLV and INCE shifts across timeframes, from 0.67 (1 year) to 0.82 (all time), reflecting how their relationship changes across market environments.

AVLV vs. INCE - Sectors Allocation Comparison

Sectors	AVLV	INCE
Financial Services	21.5%	13.3%
Technology	16.9%	3.6%
Industrials	15.3%	8.9%
Consumer Cyclical	14.2%	3.1%
Energy	12.7%	5.6%
Communication Services	6.7%	2.4%
Consumer Defensive	6.2%	9.3%
Healthcare	4.4%	7.0%
Basic Materials	1.8%	2.7%
Utilities	0.4%	6.8%
Real Estate	0.0%	-

Return for Risk

AVLV vs. INCE — Risk / Return Rank

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

AVLV

AVLV Risk / Return Rank: 96
AVLV Sharpe Ratio Rank: 96
AVLV Sortino Ratio Rank: 96
AVLV Omega Ratio Rank: 95
AVLV Calmar Ratio Rank: 96
AVLV Martin Ratio Rank: 96

INCE

INCE Risk / Return Rank: 96
INCE Sharpe Ratio Rank: 96
INCE Sortino Ratio Rank: 96
INCE Omega Ratio Rank: 95
INCE Calmar Ratio Rank: 95
INCE Martin Ratio Rank: 95

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.

AVLV vs. INCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis U.S. Large Cap Value ETF (AVLV) and Franklin Income Equity Focus ETF (INCE). 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.

	AVLV	INCE	Difference
Sharpe ratio: Return per unit of total volatility	3.09	3.09	0.00
Sortino ratio: Return per unit of downside risk	4.27	4.48	-0.21
Omega ratio: Gain probability vs. loss probability	1.56	1.58	-0.01
Calmar ratio: Return relative to maximum drawdown	5.96	5.24	+0.72
Martin ratio: Return relative to average drawdown	24.13	20.20	+3.93

AVLV vs. INCE - Sharpe Ratio Comparison

The current AVLV Sharpe Ratio is 3.09, which is comparable to the INCE Sharpe Ratio of 3.09. The chart below compares the historical Sharpe Ratios of AVLV and INCE, 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

AVLV vs. INCE - Drawdown Comparison

The maximum AVLV drawdown since its inception was -19.50%, smaller than the maximum INCE drawdown of -33.95%. Use the drawdown chart below to compare losses from any high point for AVLV and INCE.

Drawdown Indicators

	AVLV	INCE	Difference
Max Drawdown Largest peak-to-trough decline	-19.50%	-33.95%	+14.45%
Max Drawdown (1Y) Largest decline over 1 year	-6.39%	-4.90%	-1.49%
Max Drawdown (3Y) Largest decline over 3 years	-19.50%	-14.01%	-5.49%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.40%	—
Current Drawdown Current decline from peak	0.00%	-0.16%	+0.16%
Average Drawdown Average peak-to-trough decline	-3.82%	-3.22%	-0.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	1.27%	+0.31%

Volatility

AVLV vs. INCE - Volatility Comparison

Avantis U.S. Large Cap Value ETF (AVLV) and Franklin Income Equity Focus ETF (INCE) have volatilities of 2.53% and 2.46%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVLV	INCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.53%	2.46%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	8.88%	6.15%	+2.73%
Volatility (1Y) Calculated over the trailing 1-year period	12.35%	8.40%	+3.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.17%	13.25%	+3.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.17%	15.60%	+1.57%

AVLV vs. INCE - Expense Ratio Comparison

AVLV has a 0.15% expense ratio, which is lower than INCE's 0.29% expense ratio.

Dividends

AVLV vs. INCE - Dividend Comparison

AVLV's dividend yield for the trailing twelve months is around 1.05%, less than INCE's 4.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
AVLV Avantis U.S. Large Cap Value ETF	1.05%	1.33%	1.58%	1.85%	2.00%	0.29%	0.00%	0.00%	0.00%	0.00%	0.00%
INCE Franklin Income Equity Focus ETF	4.84%	4.71%	3.25%	1.75%	1.68%	1.41%	1.40%	1.31%	1.55%	1.44%	0.50%

Frequently Asked Questions

Can I hold both AVLV and INCE in my portfolio?

AVLV and INCE have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVLV or INCE?

AVLV has higher volatility (2.53%) compared to INCE (2.46%). In terms of maximum drawdown, AVLV dropped -19.50% vs INCE's -33.95%.

Which ETF is better, AVLV or INCE?

On 3-year performance, AVLV leads with 21.00% vs 15.52% for INCE. On fees, AVLV is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVLV or INCE?

Over the 3-year period, AVLV has performed better with a 21.00% return vs 15.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVLV or INCE?

AVLV is cheaper with a 0.15% expense ratio, compared with 0.29% for INCE.

Which ETF pays a higher dividend yield, AVLV or INCE?

INCE has the higher dividend yield at 4.84%, compared with 1.05% for AVLV.

What is the main difference between AVLV and INCE?

AVLV is categorized as Large Cap Value Equities, while INCE is Dividend. They also come from different issuers: Avantis and Franklin Templeton. Their fees differ too: 0.15% for AVLV and 0.29% for INCE.

Which has better risk-adjusted returns?

AVLV currently has the higher Sharpe Ratio (3.09 vs 3.09), 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.