DHS vs. INCE

Last updated Aug 4, 2026

DHS (WisdomTree US High Dividend Fund) and INCE (Franklin Income Equity Focus ETF) are both exchange-traded funds - DHS is a Large Cap Value Equities fund tracking the WisdomTree U.S. High Dividend Index, while INCE is a Dividend fund actively managed by Franklin Templeton. DHS is passively managed, while INCE is actively managed. Over the past 5 years, DHS returned 12.40%/yr vs 10.49%/yr for INCE. Their 0.72 correlation means they have sometimes moved together and sometimes differently. DHS charges 0.38%/yr vs 0.29%/yr for INCE.

Performance

DHS vs. INCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree US High Dividend Fund (DHS) 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, DHS achieves a 17.07% return, which is significantly higher than INCE's 14.91% return.

DHS

• 1D: 0.35%
• 1M: 1.94%
• 6M: 9.42%
• YTD: 17.07%
• 1Y: 25.65%
• 3Y*: 17.11%
• 5Y*: 12.40%
• 10Y*: 9.67%
• ALL TIME*: 8.26%

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)
DHS WisdomTree US High Dividend Fund	$5.47M	$3.71M	$2.99M
INCE Franklin Income Equity Focus ETF	$621.36K	$657.47K	$945.62K

DHS vs. INCE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DHS WisdomTree US High Dividend Fund	17.07%	12.87%	18.02%	-0.19%	7.97%	23.20%	-5.70%	22.59%	-7.41%	11.69%
INCE Franklin Income Equity Focus ETF	14.91%	15.92%	10.70%	13.87%	-8.54%	23.36%	12.33%	32.72%	-2.14%	19.66%

Correlation

The correlation between DHS and INCE is 0.77, 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.	0.77
Correlation (3Y) Balances recent behavior with more history.	0.78
Correlation (5Y) Shows whether the relationship held over a longer period.	0.78
Correlation (All Time) Calculated using the full available price history since Sep 22, 2016	0.72

The correlation between DHS and INCE has been stable across timeframes, ranging from 0.72 to 0.78 - a consistent structural relationship.

DHS vs. INCE - Sectors Allocation Comparison

Sectors	DHS	INCE
Financial Services	23.2%	13.3%
Healthcare	15.9%	7.0%
Consumer Defensive	14.2%	9.3%
Utilities	8.9%	6.8%
Energy	8.2%	5.6%
Communication Services	8.2%	2.4%
Technology	7.4%	3.6%
Consumer Cyclical	5.4%	3.1%
Industrials	4.5%	8.9%
Real Estate	3.0%	-
Basic Materials	1.1%	2.7%

Return for Risk

DHS vs. INCE — Risk / Return Rank

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

DHS

DHS Risk / Return Rank: 92
DHS Sharpe Ratio Rank: 92
DHS Sortino Ratio Rank: 94
DHS Omega Ratio Rank: 91
DHS Calmar Ratio Rank: 91
DHS Martin Ratio Rank: 90

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.

DHS vs. INCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree US High Dividend Fund (DHS) 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.

	DHS	INCE	Difference
Sharpe ratio: Return per unit of total volatility	2.48	3.09	-0.61
Sortino ratio: Return per unit of downside risk	3.71	4.48	-0.77
Omega ratio: Gain probability vs. loss probability	1.43	1.58	-0.15
Calmar ratio: Return relative to maximum drawdown	4.09	5.24	-1.15
Martin ratio: Return relative to average drawdown	15.00	20.20	-5.19

DHS vs. INCE - Sharpe Ratio Comparison

The current DHS Sharpe Ratio is 2.48, which is comparable to the INCE Sharpe Ratio of 3.09. The chart below compares the historical Sharpe Ratios of DHS 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

DHS vs. INCE - Drawdown Comparison

The maximum DHS drawdown since its inception was -67.25%, which is greater than INCE's maximum drawdown of -33.95%. Use the drawdown chart below to compare losses from any high point for DHS and INCE.

Drawdown Indicators

	DHS	INCE	Difference
Max Drawdown Largest peak-to-trough decline	-67.25%	-33.95%	-33.30%
Max Drawdown (1Y) Largest decline over 1 year	-6.30%	-4.90%	-1.40%
Max Drawdown (3Y) Largest decline over 3 years	-11.87%	-14.01%	+2.14%
Max Drawdown (5Y) Largest decline over 5 years	-15.28%	-18.40%	+3.12%
Max Drawdown (10Y) Largest decline over 10 years	-37.35%	—	—
Current Drawdown Current decline from peak	-1.89%	-0.16%	-1.73%
Average Drawdown Average peak-to-trough decline	-9.48%	-3.22%	-6.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.71%	1.27%	+0.44%

Volatility

DHS vs. INCE - Volatility Comparison

WisdomTree US High Dividend Fund (DHS) has a higher volatility of 3.77% compared to Franklin Income Equity Focus ETF (INCE) at 2.46%. This indicates that DHS'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

	DHS	INCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.77%	2.46%	+1.31%
Volatility (6M) Calculated over the trailing 6-month period	7.84%	6.15%	+1.69%
Volatility (1Y) Calculated over the trailing 1-year period	10.40%	8.40%	+2.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.91%	13.25%	+0.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.10%	15.60%	+0.50%

DHS vs. INCE - Expense Ratio Comparison

DHS has a 0.38% expense ratio, which is higher than INCE's 0.29% expense ratio.

Dividends

DHS vs. INCE - Dividend Comparison

DHS's dividend yield for the trailing twelve months is around 3.18%, less than INCE's 4.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DHS WisdomTree US High Dividend Fund	3.18%	3.32%	3.66%	4.31%	3.42%	3.29%	4.14%	3.69%	3.76%	3.00%	3.25%	3.53%
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%	0.00%

Frequently Asked Questions

Can I hold both DHS and INCE in my portfolio?

DHS and INCE have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DHS or INCE?

DHS has higher volatility (3.77%) compared to INCE (2.46%). In terms of maximum drawdown, DHS dropped -67.25% vs INCE's -33.95%.

Which ETF is better, DHS or INCE?

On 5-year performance, DHS leads with 12.40% vs 10.49% for INCE. On fees, INCE is cheaper at 0.29% per year. On volatility, INCE has been the lower-risk option at 2.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DHS or INCE?

Over the 5-year period, DHS has performed better with a 12.40% return vs 10.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DHS or INCE?

INCE is cheaper with a 0.29% expense ratio, compared with 0.38% for DHS.

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

INCE has the higher dividend yield at 4.84%, compared with 3.18% for DHS.

What is the main difference between DHS and INCE?

DHS is categorized as Large Cap Value Equities, while INCE is Dividend. They also come from different issuers: WisdomTree and Franklin Templeton. Their fees differ too: 0.38% for DHS and 0.29% for INCE.

Which has better risk-adjusted returns?

INCE currently has the higher Sharpe Ratio (3.09 vs 2.48), 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.