DIVY vs. INCE

Last updated Aug 6, 2026

DIVY (Sound Equity Dividend Income ETF) and INCE (Franklin Income Equity Focus ETF) are both Dividend funds. Both are actively managed. Over the past year, DIVY returned 25.81% vs 26.49% for INCE. Their correlation of 0.81 means they have usually moved in the same direction. DIVY charges 0.45%/yr vs 0.29%/yr for INCE.

Performance

DIVY vs. INCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sound Equity Dividend Income ETF (DIVY) 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, DIVY achieves a 18.65% return, which is significantly higher than INCE's 16.28% return.

DIVY

• 1D: -0.14%
• 1M: 4.18%
• 6M: 9.72%
• YTD: 18.65%
• 1Y: 25.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 13.93%

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)
DIVY Sound Equity Dividend Income ETF	$55.43K	$84.71K	$74.40K
INCE Franklin Income Equity Focus ETF	$14.28M	$6.88M	$3.19M

DIVY vs. INCE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DIVY Sound Equity Dividend Income ETF	18.65%	7.38%	3.51%
INCE Franklin Income Equity Focus ETF	16.28%	15.92%	5.04%

Correlation

The correlation between DIVY and INCE is 0.76, 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.	0.76
Correlation (All Time) Calculated using the full available price history since Jun 21, 2024	0.81

The correlation between DIVY and INCE has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.

DIVY vs. INCE - Sectors Allocation Comparison

Sectors	DIVY	INCE
Financial Services	23.4%	13.3%
Consumer Cyclical	12.7%	3.1%
Healthcare	12.3%	7.0%
Energy	10.7%	5.6%
Consumer Defensive	9.4%	9.3%
Technology	8.9%	3.6%
Utilities	6.7%	6.8%
Communication Services	6.6%	2.4%
Industrials	6.0%	8.9%
Basic Materials	3.2%	2.7%
Real Estate	-	-

Return for Risk

DIVY vs. INCE — Risk / Return Rank

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

DIVY

DIVY Risk / Return Rank: 75
DIVY Sharpe Ratio Rank: 78
DIVY Sortino Ratio Rank: 80
DIVY Omega Ratio Rank: 75
DIVY Calmar Ratio Rank: 72
DIVY 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.

DIVY vs. INCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sound Equity Dividend Income ETF (DIVY) 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.

	DIVY	INCE	Difference
Sharpe ratio: Return per unit of total volatility	2.01	3.20	-1.19
Sortino ratio: Return per unit of downside risk	2.91	4.63	-1.72
Omega ratio: Gain probability vs. loss probability	1.35	1.60	-0.25
Calmar ratio: Return relative to maximum drawdown	2.86	5.43	-2.57
Martin ratio: Return relative to average drawdown	9.44	20.94	-11.50

DIVY vs. INCE - Sharpe Ratio Comparison

The current DIVY Sharpe Ratio is 2.01, which is lower than the INCE Sharpe Ratio of 3.20. The chart below compares the historical Sharpe Ratios of DIVY 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

DIVY vs. INCE - Drawdown Comparison

The maximum DIVY drawdown since its inception was -18.35%, smaller than the maximum INCE drawdown of -33.95%. Use the drawdown chart below to compare losses from any high point for DIVY and INCE.

Drawdown Indicators

	DIVY	INCE	Difference
Max Drawdown Largest peak-to-trough decline	-18.35%	-33.95%	+15.60%
Max Drawdown (1Y) Largest decline over 1 year	-9.06%	-4.90%	-4.16%
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	-0.30%	-0.13%	-0.17%
Average Drawdown Average peak-to-trough decline	-3.13%	-3.21%	+0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	1.27%	+1.47%

Volatility

DIVY vs. INCE - Volatility Comparison

Sound Equity Dividend Income ETF (DIVY) has a higher volatility of 5.40% compared to Franklin Income Equity Focus ETF (INCE) at 2.40%. This indicates that DIVY'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

	DIVY	INCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.40%	2.40%	+3.00%
Volatility (6M) Calculated over the trailing 6-month period	9.99%	6.13%	+3.86%
Volatility (1Y) Calculated over the trailing 1-year period	12.91%	8.32%	+4.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.67%	13.26%	+2.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.67%	15.59%	+0.08%

DIVY vs. INCE - Expense Ratio Comparison

DIVY has a 0.45% expense ratio, which is higher than INCE's 0.29% expense ratio.

Dividends

DIVY vs. INCE - Dividend Comparison

DIVY's dividend yield for the trailing twelve months is around 2.87%, less than INCE's 4.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DIVY Sound Equity Dividend Income ETF	2.87%	3.68%	2.94%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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 DIVY and INCE in my portfolio?

DIVY and INCE have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIVY or INCE?

DIVY has higher volatility (5.40%) compared to INCE (2.40%). In terms of maximum drawdown, DIVY dropped -18.35% vs INCE's -33.95%.

Which ETF is better, DIVY or INCE?

On 1-year performance, INCE leads with 26.49% vs 25.81% for DIVY. 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, DIVY or INCE?

Over the 1-year period, INCE has performed better with a 26.49% return vs 25.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVY or INCE?

INCE is cheaper with a 0.29% expense ratio, compared with 0.45% for DIVY.

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

INCE has the higher dividend yield at 4.78%, compared with 2.87% for DIVY.

What is the main difference between DIVY and INCE?

They also come from different issuers: Sound Income Strategies and Franklin Templeton. Their fees differ too: 0.45% for DIVY and 0.29% for INCE.

Which has better risk-adjusted returns?

INCE currently has the higher Sharpe Ratio (3.20 vs 2.01), 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.