DEM vs. INCE

Last updated Aug 6, 2026

DEM (WisdomTree Emerging Markets Equity Income Fund) and INCE (Franklin Income Equity Focus ETF) are both Dividend funds. DEM is passively managed, while INCE is actively managed. Over the past 5 years, DEM returned 10.33%/yr vs 10.70%/yr for INCE. Their 0.50 correlation means their historical movements had little consistent relationship. DEM charges 0.63%/yr vs 0.29%/yr for INCE.

Performance

DEM vs. INCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Emerging Markets Equity Income Fund (DEM) 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, DEM achieves a 18.54% return, which is significantly higher than INCE's 16.28% return.

DEM

• 1D: -0.48%
• 1M: 0.07%
• 6M: 10.98%
• YTD: 18.54%
• 1Y: 24.54%
• 3Y*: 17.43%
• 5Y*: 10.33%
• 10Y*: 9.13%
• ALL TIME*: 4.99%

INCE

• 1D: -0.13%
• 1M: 2.10%
• 6M: 7.42%
• YTD: 16.28%
• 1Y: 26.49%
• 3Y*: 16.56%
• 5Y*: 10.70%
• 10Y*: —
• ALL TIME*: 13.18%

*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)
DEM WisdomTree Emerging Markets Equity Income Fund	$21.83M	$15.09M	$12.97M
INCE Franklin Income Equity Focus ETF	$14.28M	$6.88M	$3.19M

DEM vs. INCE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DEM WisdomTree Emerging Markets Equity Income Fund	18.54%	21.29%	4.46%	20.93%	-10.43%	11.49%	-5.84%	19.84%	-7.69%	26.26%
INCE Franklin Income Equity Focus ETF	16.28%	15.92%	10.70%	13.87%	-8.54%	23.36%	12.33%	32.72%	-2.14%	19.66%

Correlation

The correlation between DEM and INCE is 0.45, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.45
Correlation (3Y) Balances recent behavior with more history.	0.51
Correlation (5Y) Shows whether the relationship held over a longer period.	0.53
Correlation (All Time) Calculated using the full available price history since Sep 22, 2016	0.50

The correlation between DEM and INCE has been stable across timeframes, ranging from 0.45 to 0.53 - a consistent structural relationship.

DEM vs. INCE - Sectors Allocation Comparison

Sectors	DEM	INCE
Financial Services	21.9%	13.3%
Technology	17.5%	3.6%
Industrials	8.9%	8.9%
Energy	6.2%	5.6%
Consumer Defensive	5.8%	9.3%
Consumer Cyclical	5.4%	3.1%
Basic Materials	3.7%	2.7%
Utilities	3.0%	6.8%
Communication Services	3.0%	2.4%
Real Estate	2.9%	-
Healthcare	0.6%	7.0%

Return for Risk

DEM vs. INCE — Risk / Return Rank

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

DEM

DEM Risk / Return Rank: 65
DEM Sharpe Ratio Rank: 61
DEM Sortino Ratio Rank: 58
DEM Omega Ratio Rank: 59
DEM Calmar Ratio Rank: 78
DEM Martin Ratio Rank: 68

INCE

INCE Risk / Return Rank: 95
INCE Sharpe Ratio Rank: 96
INCE Sortino Ratio Rank: 96
INCE Omega Ratio Rank: 95
INCE Calmar Ratio Rank: 94
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.

DEM vs. INCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets Equity Income Fund (DEM) 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.

	DEM	INCE	Difference
Sharpe ratio: Return per unit of total volatility	1.64	3.20	-1.56
Sortino ratio: Return per unit of downside risk	2.29	4.63	-2.34
Omega ratio: Gain probability vs. loss probability	1.30	1.60	-0.30
Calmar ratio: Return relative to maximum drawdown	3.12	5.43	-2.31
Martin ratio: Return relative to average drawdown	9.38	20.94	-11.56

DEM vs. INCE - Sharpe Ratio Comparison

The current DEM Sharpe Ratio is 1.64, which is lower than the INCE Sharpe Ratio of 3.20. The chart below compares the historical Sharpe Ratios of DEM 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

DEM vs. INCE - Drawdown Comparison

The maximum DEM drawdown since its inception was -51.85%, which is greater than INCE's maximum drawdown of -33.95%. Use the drawdown chart below to compare losses from any high point for DEM and INCE.

Drawdown Indicators

	DEM	INCE	Difference
Max Drawdown Largest peak-to-trough decline	-51.85%	-33.95%	-17.90%
Max Drawdown (1Y) Largest decline over 1 year	-7.89%	-4.90%	-2.99%
Max Drawdown (3Y) Largest decline over 3 years	-15.64%	-14.01%	-1.63%
Max Drawdown (5Y) Largest decline over 5 years	-27.18%	-18.40%	-8.78%
Max Drawdown (10Y) Largest decline over 10 years	-37.79%	—	—
Current Drawdown Current decline from peak	-2.36%	-0.13%	-2.23%
Average Drawdown Average peak-to-trough decline	-12.81%	-3.21%	-9.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	1.27%	+1.35%

Volatility

DEM vs. INCE - Volatility Comparison

WisdomTree Emerging Markets Equity Income Fund (DEM) has a higher volatility of 4.62% compared to Franklin Income Equity Focus ETF (INCE) at 2.40%. This indicates that DEM'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

	DEM	INCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.62%	2.40%	+2.22%
Volatility (6M) Calculated over the trailing 6-month period	13.24%	6.13%	+7.11%
Volatility (1Y) Calculated over the trailing 1-year period	15.03%	8.32%	+6.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.62%	13.26%	+2.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.86%	15.59%	+2.27%

DEM vs. INCE - Expense Ratio Comparison

DEM has a 0.63% expense ratio, which is higher than INCE's 0.29% expense ratio.

Dividends

DEM vs. INCE - Dividend Comparison

DEM's dividend yield for the trailing twelve months is around 4.13%, less than INCE's 4.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEM WisdomTree Emerging Markets Equity Income Fund	4.13%	4.88%	5.24%	5.49%	8.62%	5.87%	4.21%	4.78%	4.47%	3.67%	3.63%	5.21%
INCE Franklin Income Equity Focus ETF	4.78%	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 DEM and INCE in my portfolio?

DEM and INCE have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DEM or INCE?

DEM has higher volatility (4.62%) compared to INCE (2.40%). In terms of maximum drawdown, DEM dropped -51.85% vs INCE's -33.95%.

Which ETF is better, DEM or INCE?

On 5-year performance, INCE leads with 10.70% vs 10.33% for DEM. On fees, INCE is cheaper at 0.29% per year. On volatility, INCE has been the lower-risk option at 2.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DEM or INCE?

Over the 5-year period, INCE has performed better with a 10.70% return vs 10.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DEM or INCE?

INCE is cheaper with a 0.29% expense ratio, compared with 0.63% for DEM.

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

INCE has the higher dividend yield at 4.78%, compared with 4.13% for DEM.

What is the main difference between DEM and INCE?

They also come from different issuers: WisdomTree and Franklin Templeton. Their fees differ too: 0.63% for DEM and 0.29% for INCE.

Which has better risk-adjusted returns?

INCE currently has the higher Sharpe Ratio (3.20 vs 1.64), 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.