BEN vs. INCE

Last updated Jul 17, 2026

BEN (Franklin Resources, Inc.) is a stock, while INCE (Franklin Income Equity Focus ETF) is Dividend fund actively managed by Franklin Templeton. Over the past 5 years, BEN returned 7.74%/yr vs 10.60%/yr for INCE. A 0.56 correlation means they provide meaningful diversification when combined.

Performance

BEN vs. INCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Resources, Inc. (BEN) 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, BEN achieves a 42.97% return, which is significantly higher than INCE's 13.80% return.

BEN

• 1D: -0.89%
• 1M: 1.46%
• 6M: 31.52%
• YTD: 42.97%
• 1Y: 44.17%
• 3Y*: 10.66%
• 5Y*: 7.74%
• 10Y*: 4.58%

INCE

• 1D: 0.69%
• 1M: -0.19%
• 6M: 9.42%
• YTD: 13.80%
• 1Y: 21.92%
• 3Y*: 15.70%
• 5Y*: 10.60%
• 10Y*: —

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

BEN vs. INCE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BEN Franklin Resources, Inc.	42.97%	24.76%	-27.21%	16.96%	-17.52%	38.88%	1.46%	-9.29%	-23.34%	11.58%
INCE Franklin Income Equity Focus ETF	13.80%	15.92%	10.70%	13.87%	-8.54%	23.36%	12.33%	32.72%	-2.14%	19.66%

Correlation

The correlation between BEN and INCE is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since Sep 22, 2016	0.56

The correlation between BEN and INCE shifts across timeframes, from 0.43 (1 year) to 0.64 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

BEN vs. INCE — Risk / Return Rank

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

BEN

BEN Risk / Return Rank: 82
BEN Sharpe Ratio Rank: 86
BEN Sortino Ratio Rank: 82
BEN Omega Ratio Rank: 80
BEN Calmar Ratio Rank: 81
BEN Martin Ratio Rank: 82

INCE

INCE Risk / Return Rank: 92
INCE Sharpe Ratio Rank: 93
INCE Sortino Ratio Rank: 93
INCE Omega Ratio Rank: 92
INCE Calmar Ratio Rank: 91
INCE Martin Ratio Rank: 90

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.

BEN vs. INCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Resources, Inc. (BEN) 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.

	BEN	INCE	Difference
Sharpe ratio: Return per unit of total volatility	1.61	2.64	-1.03
Sortino ratio: Return per unit of downside risk	2.19	3.83	-1.63
Omega ratio: Gain probability vs. loss probability	1.27	1.49	-0.21
Calmar ratio: Return relative to maximum drawdown	2.31	4.49	-2.18
Martin ratio: Return relative to average drawdown	5.80	16.31	-10.51

BEN vs. INCE - Sharpe Ratio Comparison

The current BEN Sharpe Ratio is 1.61, which is lower than the INCE Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of BEN 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

BEN vs. INCE - Drawdown Comparison

The maximum BEN drawdown since its inception was -72.80%, which is greater than INCE's maximum drawdown of -33.95%. Use the drawdown chart below to compare losses from any high point for BEN and INCE.

Drawdown Indicators

	BEN	INCE	Difference
Max Drawdown Largest peak-to-trough decline	-72.80%	-33.95%	-38.85%
Max Drawdown (1Y) Largest decline over 1 year	-19.21%	-4.90%	-14.31%
Max Drawdown (3Y) Largest decline over 3 years	-40.01%	-14.01%	-26.00%
Max Drawdown (5Y) Largest decline over 5 years	-47.43%	-18.40%	-29.03%
Max Drawdown (10Y) Largest decline over 10 years	-62.10%	—	—
Current Drawdown Current decline from peak	-3.44%	-0.53%	-2.91%
Average Drawdown Average peak-to-trough decline	-22.83%	-3.23%	-19.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.63%	1.35%	+6.28%

Volatility

BEN vs. INCE - Volatility Comparison

Franklin Resources, Inc. (BEN) has a higher volatility of 7.44% compared to Franklin Income Equity Focus ETF (INCE) at 2.36%. This indicates that BEN's price experiences larger fluctuations and is considered to be riskier than INCE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BEN	INCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.44%	2.36%	+5.08%
Volatility (6M) Calculated over the trailing 6-month period	22.14%	6.13%	+16.01%
Volatility (1Y) Calculated over the trailing 1-year period	27.62%	8.35%	+19.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.96%	13.27%	+18.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.82%	15.62%	+17.20%

Dividends

BEN vs. INCE - Dividend Comparison

BEN's dividend yield for the trailing twelve months is around 3.93%, less than INCE's 4.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BEN Franklin Resources, Inc.	3.93%	5.40%	7.69%	3.02%	4.44%	3.37%	4.36%	4.04%	13.32%	1.92%	1.87%	1.71%
INCE Franklin Income Equity Focus ETF	4.74%	4.71%	3.25%	1.75%	1.68%	1.41%	1.40%	1.31%	1.55%	1.44%	0.50%	0.00%

Frequently Asked Questions

Can I hold both BEN and INCE in my portfolio?

BEN and INCE have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BEN or INCE?

BEN has higher volatility (7.44%) compared to INCE (2.36%). In terms of maximum drawdown, BEN dropped -72.80% vs INCE's -33.95%.

Which has better risk-adjusted returns?

INCE currently has the higher Sharpe Ratio (2.64 vs 1.61), 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.