FLIN vs. INCM

Last updated Aug 4, 2026

FLIN (Franklin FTSE India ETF) and INCM (Franklin Income Focus ETF) are both exchange-traded funds - FLIN is a India Equities fund tracking the FTSE India RIC Capped Index, while INCM is a Diversified Portfolio fund actively managed by Franklin Templeton. FLIN is passively managed, while INCM is actively managed. Over the past 3 years, FLIN returned 5.63%/yr vs 11.04%/yr for INCM. Their 0.39 correlation means their historical movements had little consistent relationship. FLIN charges 0.19%/yr vs 0.38%/yr for INCM.

Performance

FLIN vs. INCM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE India ETF (FLIN) and Franklin Income Focus ETF (INCM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLIN achieves a -6.92% return, which is significantly lower than INCM's 7.65% return.

FLIN

• 1D: 0.67%
• 1M: 0.73%
• 6M: -5.45%
• YTD: -6.92%
• 1Y: -4.62%
• 3Y*: 5.63%
• 5Y*: 4.41%
• 10Y*: —
• ALL TIME*: 5.89%

INCM

• 1D: 0.41%
• 1M: 0.81%
• 6M: 3.80%
• YTD: 7.65%
• 1Y: 14.02%
• 3Y*: 11.04%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.62%

*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)
FLIN Franklin FTSE India ETF	$24.21M	$28.81M	$28.13M
INCM Franklin Income Focus ETF	$11.73M	$12.25M	$11.49M

FLIN vs. INCM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FLIN Franklin FTSE India ETF	-6.92%	2.40%	10.33%	17.82%
INCM Franklin Income Focus ETF	7.65%	13.07%	6.80%	5.76%

Correlation

The correlation between FLIN and INCM is 0.39, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.39
Correlation (3Y) Balances recent behavior with more history.	0.38
Correlation (All Time) Calculated using the full available price history since Jun 8, 2023	0.39

Return for Risk

FLIN vs. INCM — Risk / Return Rank

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

FLIN

FLIN Risk / Return Rank: 7
FLIN Sharpe Ratio Rank: 7
FLIN Sortino Ratio Rank: 7
FLIN Omega Ratio Rank: 7
FLIN Calmar Ratio Rank: 8
FLIN Martin Ratio Rank: 7

INCM

INCM Risk / Return Rank: 93
INCM Sharpe Ratio Rank: 93
INCM Sortino Ratio Rank: 93
INCM Omega Ratio Rank: 93
INCM Calmar Ratio Rank: 92
INCM Martin Ratio Rank: 93

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.

FLIN vs. INCM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE India ETF (FLIN) and Franklin Income Focus ETF (INCM). 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.

	FLIN	INCM	Difference
Sharpe ratio: Return per unit of total volatility	-0.30	2.57	-2.87
Sortino ratio: Return per unit of downside risk	-0.33	3.64	-3.97
Omega ratio: Gain probability vs. loss probability	0.96	1.48	-0.52
Calmar ratio: Return relative to maximum drawdown	-0.25	4.41	-4.67
Martin ratio: Return relative to average drawdown	-0.57	17.73	-18.29

FLIN vs. INCM - Sharpe Ratio Comparison

The current FLIN Sharpe Ratio is -0.30, which is lower than the INCM Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of FLIN and INCM, 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

FLIN vs. INCM - Drawdown Comparison

The maximum FLIN drawdown since its inception was -41.90%, which is greater than INCM's maximum drawdown of -7.84%. Use the drawdown chart below to compare losses from any high point for FLIN and INCM.

Drawdown Indicators

	FLIN	INCM	Difference
Max Drawdown Largest peak-to-trough decline	-41.90%	-7.84%	-34.06%
Max Drawdown (1Y) Largest decline over 1 year	-18.25%	-3.19%	-15.06%
Max Drawdown (3Y) Largest decline over 3 years	-22.85%	-7.84%	-15.01%
Max Drawdown (5Y) Largest decline over 5 years	-22.85%	—	—
Current Drawdown Current decline from peak	-14.31%	0.00%	-14.31%
Average Drawdown Average peak-to-trough decline	-8.16%	-1.07%	-7.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.19%	0.79%	+7.40%

Volatility

FLIN vs. INCM - Volatility Comparison

Franklin FTSE India ETF (FLIN) has a higher volatility of 4.09% compared to Franklin Income Focus ETF (INCM) at 1.48%. This indicates that FLIN's price experiences larger fluctuations and is considered to be riskier than INCM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLIN	INCM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.09%	1.48%	+2.61%
Volatility (6M) Calculated over the trailing 6-month period	13.22%	4.36%	+8.86%
Volatility (1Y) Calculated over the trailing 1-year period	15.41%	5.50%	+9.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.81%	7.21%	+8.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.35%	7.21%	+13.14%

FLIN vs. INCM - Expense Ratio Comparison

FLIN has a 0.19% expense ratio, which is lower than INCM's 0.38% expense ratio.

Dividends

FLIN vs. INCM - Dividend Comparison

FLIN's dividend yield for the trailing twelve months is around 0.42%, less than INCM's 5.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FLIN Franklin FTSE India ETF	0.42%	0.56%	1.58%	0.73%	0.73%	2.26%	0.68%	0.90%	0.92%
INCM Franklin Income Focus ETF	5.18%	4.96%	5.06%	3.01%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLIN and INCM in my portfolio?

FLIN and INCM have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLIN or INCM?

FLIN has higher volatility (4.09%) compared to INCM (1.48%). In terms of maximum drawdown, FLIN dropped -41.90% vs INCM's -7.84%.

Which ETF is better, FLIN or INCM?

On 3-year performance, INCM leads with 11.04% vs 5.63% for FLIN. On fees, FLIN is cheaper at 0.19% per year. On volatility, INCM has been the lower-risk option at 1.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLIN or INCM?

Over the 3-year period, INCM has performed better with a 11.04% return vs 5.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLIN or INCM?

FLIN is cheaper with a 0.19% expense ratio, compared with 0.38% for INCM.

Which ETF pays a higher dividend yield, FLIN or INCM?

INCM has the higher dividend yield at 5.18%, compared with 0.42% for FLIN.

What is the main difference between FLIN and INCM?

FLIN is categorized as India Equities, while INCM is Diversified Portfolio. Their fees differ too: 0.19% for FLIN and 0.38% for INCM.

Which has better risk-adjusted returns?

INCM currently has the higher Sharpe Ratio (2.57 vs -0.30), 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.