BALI vs. INCE

Last updated Jun 3, 2026

BALI (Blackrock Advantage Large Cap Income ETF) and INCE (Franklin Income Equity Focus ETF) are both exchange-traded funds - BALI is a Derivative Income fund actively managed by BlackRock, while INCE is a Dividend fund actively managed by Franklin Templeton. Both are actively managed. Over the past year, BALI returned 27.25% vs 28.82% for INCE. A 0.68 correlation means they provide meaningful diversification when combined. BALI charges 0.35%/yr vs 0.29%/yr for INCE.

Performance

BALI vs. INCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Blackrock Advantage Large Cap Income ETF (BALI) 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, BALI achieves a 11.68% return, which is significantly lower than INCE's 13.91% return.

BALI

• 1D: 0.09%
• 1M: 4.49%
• YTD: 11.68%
• 6M: 12.49%
• 1Y: 27.25%
• 3Y*: —
• 5Y*: —
• 10Y*: —

INCE

• 1D: 0.65%
• 1M: 2.47%
• YTD: 13.91%
• 6M: 16.10%
• 1Y: 28.82%
• 3Y*: 17.41%
• 5Y*: 11.45%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BALI vs. INCE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BALI Blackrock Advantage Large Cap Income ETF	11.68%	14.51%	22.38%	9.52%
INCE Franklin Income Equity Focus ETF	13.91%	15.92%	10.70%	9.27%

Correlation

The correlation between BALI and INCE is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (All Time) Calculated using the full available price history since Sep 29, 2023	0.68

The correlation between BALI and INCE shifts across timeframes, from 0.53 (1 year) to 0.68 (all time), reflecting how their relationship changes across market environments.

BALI vs. INCE - Sectors Allocation Comparison

Sectors	BALI	INCE
Technology	35.0%	7.6%
Communication Services	10.6%	2.6%
Consumer Cyclical	10.2%	2.2%
Healthcare	9.4%	4.3%
Financial Services	9.0%	10.5%
Industrials	8.0%	9.8%
Consumer Defensive	6.1%	9.3%
Energy	4.3%	8.1%
Utilities	1.9%	6.4%
Basic Materials	1.4%	4.5%
Real Estate	0.9%	-

Return for Risk

BALI vs. INCE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BALI

BALI Risk / Return Rank: 84
BALI Sharpe Ratio Rank: 84
BALI Sortino Ratio Rank: 85
BALI Omega Ratio Rank: 84
BALI Calmar Ratio Rank: 80
BALI Martin Ratio Rank: 90

INCE

INCE Risk / Return Rank: 93
INCE Sharpe Ratio Rank: 93
INCE Sortino Ratio Rank: 95
INCE Omega Ratio Rank: 93
INCE Calmar Ratio Rank: 91
INCE Martin Ratio Rank: 91

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BALI vs. INCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Blackrock Advantage Large Cap Income ETF (BALI) 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.

	BALI	INCE	Difference
Sharpe ratio Return per unit of total volatility	2.77	3.50	-0.73
Sortino ratio Return per unit of downside risk	3.84	5.08	-1.24
Omega ratio Gain probability vs. loss probability	1.52	1.66	-0.14
Calmar ratio Return relative to maximum drawdown	4.15	5.94	-1.79
Martin ratio Return relative to average drawdown	20.75	22.48	-1.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BALI vs. INCE - Sharpe Ratio Comparison

The current BALI Sharpe Ratio is 2.77, which is comparable to the INCE Sharpe Ratio of 3.50. The chart below compares the historical Sharpe Ratios of BALI 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.

Sharpe Ratios by Period

	BALI	INCE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.77	3.50	-0.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.74	0.84	+0.89

Drawdowns

BALI vs. INCE - Drawdown Comparison

The maximum BALI drawdown since its inception was -16.65%, smaller than the maximum INCE drawdown of -33.95%. Use the drawdown chart below to compare losses from any high point for BALI and INCE.

Drawdown Indicators

	BALI	INCE	Difference
Max Drawdown Largest peak-to-trough decline	-16.65%	-33.95%	+17.30%
Max Drawdown (1Y) Largest decline over 1 year	-6.71%	-4.90%	-1.81%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.40%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.63%	-3.25%	+1.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.34%	1.29%	+0.05%

Volatility

BALI vs. INCE - Volatility Comparison

Blackrock Advantage Large Cap Income ETF (BALI) and Franklin Income Equity Focus ETF (INCE) have volatilities of 1.93% and 1.97%, 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

	BALI	INCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.93%	1.97%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	7.47%	5.92%	+1.55%
Volatility (1Y) Calculated over the trailing 1-year period	9.91%	8.28%	+1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.94%	13.26%	-0.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.94%	15.69%	-2.75%

BALI vs. INCE - Expense Ratio Comparison

BALI has a 0.35% expense ratio, which is higher than INCE's 0.29% expense ratio.

Dividends

BALI vs. INCE - Dividend Comparison

BALI's dividend yield for the trailing twelve months is around 7.63%, more than INCE's 4.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BALI Blackrock Advantage Large Cap Income ETF	7.63%	8.51%	7.13%	2.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
INCE Franklin Income Equity Focus ETF	4.70%	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 BALI and INCE in my portfolio?

BALI and INCE have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BALI or INCE?

INCE has higher volatility (1.97%) compared to BALI (1.93%). In terms of maximum drawdown, BALI dropped -16.65% vs INCE's -33.95%.

Which ETF is better, BALI or INCE?

On 1-year performance, INCE leads with 28.82% vs 27.25% for BALI. On fees, INCE is cheaper at 0.29% 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, BALI or INCE?

Over the 1-year period, INCE has performed better with a 28.82% return vs 27.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BALI or INCE?

INCE is cheaper with a 0.29% expense ratio, compared with 0.35% for BALI.

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

BALI has the higher dividend yield at 7.63%, compared with 4.70% for INCE.

What is the main difference between BALI and INCE?

BALI is categorized as Derivative Income, while INCE is Dividend. They also come from different issuers: BlackRock and Franklin Templeton. Their fees differ too: 0.35% for BALI and 0.29% for INCE.

Which has better risk-adjusted returns?

INCE currently has the higher Sharpe Ratio (3.50 vs 2.77), 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.