DIVB vs. INCE

Last updated Jun 24, 2026

DIVB (iShares Core Dividend ETF) and INCE (Franklin Income Equity Focus ETF) are both Dividend funds. DIVB is passively managed, while INCE is actively managed. Over the past 5 years, DIVB returned 12.39%/yr vs 10.85%/yr for INCE. Their correlation of 0.84 suggests significant overlap in exposure. DIVB charges 0.05%/yr vs 0.29%/yr for INCE.

Performance

DIVB vs. INCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core Dividend ETF (DIVB) 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, DIVB achieves a 17.14% return, which is significantly higher than INCE's 12.00% return.

DIVB

• 1D: 1.02%
• 1M: 1.64%
• YTD: 17.14%
• 6M: 16.48%
• 1Y: 27.72%
• 3Y*: 21.75%
• 5Y*: 12.39%
• 10Y*: —

INCE

• 1D: 0.22%
• 1M: -0.59%
• YTD: 12.00%
• 6M: 11.92%
• 1Y: 23.98%
• 3Y*: 16.37%
• 5Y*: 10.85%
• 10Y*: —

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

DIVB vs. INCE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIVB iShares Core Dividend ETF	17.14%	15.09%	18.59%	13.27%	-10.51%	31.29%	10.78%	32.72%	-8.16%	5.95%
INCE Franklin Income Equity Focus ETF	12.00%	15.92%	10.70%	13.87%	-8.54%	23.36%	12.33%	32.72%	-2.14%	3.29%

Correlation

The correlation between DIVB and INCE is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Nov 9, 2017	0.84

The correlation between DIVB and INCE has been stable across timeframes, ranging from 0.84 to 0.90 - a consistent structural relationship.

Return for Risk

DIVB vs. INCE — Risk / Return Rank

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

DIVB

DIVB Risk / Return Rank: 78
DIVB Sharpe Ratio Rank: 78
DIVB Sortino Ratio Rank: 79
DIVB Omega Ratio Rank: 76
DIVB Calmar Ratio Rank: 81
DIVB Martin Ratio Rank: 75

INCE

INCE Risk / Return Rank: 89
INCE Sharpe Ratio Rank: 90
INCE Sortino Ratio Rank: 92
INCE Omega Ratio Rank: 89
INCE Calmar Ratio Rank: 88
INCE Martin Ratio Rank: 88

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.

DIVB vs. INCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Dividend ETF (DIVB) 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.

	DIVB	INCE	Difference
Sharpe ratio: Return per unit of total volatility	2.38	2.85	-0.47
Sortino ratio: Return per unit of downside risk	3.34	4.13	-0.79
Omega ratio: Gain probability vs. loss probability	1.42	1.52	-0.10
Calmar ratio: Return relative to maximum drawdown	4.08	4.91	-0.83
Martin ratio: Return relative to average drawdown	13.64	18.21	-4.56

DIVB vs. INCE - Sharpe Ratio Comparison

The current DIVB Sharpe Ratio is 2.38, which is comparable to the INCE Sharpe Ratio of 2.85. The chart below compares the historical Sharpe Ratios of DIVB 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

DIVB vs. INCE - Drawdown Comparison

The maximum DIVB drawdown since its inception was -36.93%, which is greater than INCE's maximum drawdown of -33.95%. Use the drawdown chart below to compare losses from any high point for DIVB and INCE.

Drawdown Indicators

	DIVB	INCE	Difference
Max Drawdown Largest peak-to-trough decline	-36.93%	-33.95%	-2.98%
Max Drawdown (1Y) Largest decline over 1 year	-6.82%	-4.90%	-1.92%
Max Drawdown (3Y) Largest decline over 3 years	-15.45%	-14.01%	-1.44%
Max Drawdown (5Y) Largest decline over 5 years	-21.08%	-18.40%	-2.68%
Current Drawdown Current decline from peak	-1.10%	-1.77%	+0.67%
Average Drawdown Average peak-to-trough decline	-4.97%	-3.24%	-1.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	1.32%	+0.72%

Volatility

DIVB vs. INCE - Volatility Comparison

iShares Core Dividend ETF (DIVB) has a higher volatility of 4.61% compared to Franklin Income Equity Focus ETF (INCE) at 2.76%. This indicates that DIVB'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

	DIVB	INCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.61%	2.76%	+1.85%
Volatility (6M) Calculated over the trailing 6-month period	8.84%	6.18%	+2.66%
Volatility (1Y) Calculated over the trailing 1-year period	11.70%	8.46%	+3.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.26%	13.28%	+1.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.36%	15.66%	+2.70%

DIVB vs. INCE - Expense Ratio Comparison

DIVB has a 0.05% expense ratio, which is lower than INCE's 0.29% expense ratio.

Dividends

DIVB vs. INCE - Dividend Comparison

DIVB's dividend yield for the trailing twelve months is around 2.27%, less than INCE's 4.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DIVB iShares Core Dividend ETF	2.27%	2.50%	2.61%	3.18%	2.02%	1.63%	2.08%	2.07%	2.52%	0.37%	0.00%
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%

Frequently Asked Questions

Can I hold both DIVB and INCE in my portfolio?

DIVB and INCE have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIVB or INCE?

DIVB has higher volatility (4.61%) compared to INCE (2.76%). In terms of maximum drawdown, DIVB dropped -36.93% vs INCE's -33.95%.

Which ETF is better, DIVB or INCE?

On 5-year performance, DIVB leads with 12.39% vs 10.85% for INCE. On fees, DIVB is cheaper at 0.05% per year. On volatility, INCE has been the lower-risk option at 2.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIVB or INCE?

Over the 5-year period, DIVB has performed better with a 12.39% return vs 10.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVB or INCE?

DIVB is cheaper with a 0.05% expense ratio, compared with 0.29% for INCE.

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

INCE has the higher dividend yield at 4.78%, compared with 2.27% for DIVB.

What is the main difference between DIVB and INCE?

They also come from different issuers: iShares and Franklin Templeton. Their fees differ too: 0.05% for DIVB and 0.29% for INCE.

Which has better risk-adjusted returns?

INCE currently has the higher Sharpe Ratio (2.85 vs 2.38), 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.