FLLV vs. INCM

Last updated Apr 1, 2026

Compare and contrast key facts about Franklin Liberty U.S. Low Volatility ETF (FLLV) and Franklin Income Focus ETF (INCM).

FLLV and INCM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FLLV is an actively managed fund by Franklin Templeton. It was launched on Sep 20, 2016. INCM is an actively managed fund by Franklin Templeton. It was launched on Jun 6, 2023.

Performance

FLLV vs. INCM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Liberty U.S. Low Volatility ETF (FLLV) and Franklin Income Focus ETF (INCM). The values are adjusted to include any dividend payments, if applicable.

FLLV vs. INCM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FLLV Franklin Liberty U.S. Low Volatility ETF	7.36%	15.92%	10.70%	10.55%
INCM Franklin Income Focus ETF	3.92%	13.07%	6.80%	5.76%

Returns By Period

In the year-to-date period, FLLV achieves a 7.36% return, which is significantly higher than INCM's 3.92% return.

FLLV

• 1D: 1.23%
• 1M: -2.97%
• YTD: 7.36%
• 6M: 11.87%
• 1Y: 21.14%
• 3Y*: 15.33%
• 5Y*: 11.11%
• 10Y*: —

INCM

• 1D: 0.70%
• 1M: -1.93%
• YTD: 3.92%
• 6M: 6.45%
• 1Y: 13.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FLLV vs. INCM - Expense Ratio Comparison

FLLV has a 0.29% expense ratio, which is lower than INCM's 0.38% expense ratio.

INCM

Franklin Income Focus ETF

FLLV

Franklin Liberty U.S. Low Volatility ETF

Return for Risk

FLLV vs. INCM — Risk / Return Rank

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

FLLV

FLLV Risk / Return Rank: 82
FLLV Sharpe Ratio Rank: 81
FLLV Sortino Ratio Rank: 83
FLLV Omega Ratio Rank: 87
FLLV Calmar Ratio Rank: 75
FLLV Martin Ratio Rank: 85

INCM

INCM Risk / Return Rank: 86
INCM Sharpe Ratio Rank: 86
INCM Sortino Ratio Rank: 88
INCM Omega Ratio Rank: 91
INCM Calmar Ratio Rank: 78
INCM 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.

FLLV vs. INCM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Liberty U.S. Low Volatility ETF (FLLV) 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.

	FLLV	INCM	Difference
Sharpe ratio Return per unit of total volatility	1.55	1.70	-0.16
Sortino ratio Return per unit of downside risk	2.17	2.39	-0.22
Omega ratio Gain probability vs. loss probability	1.35	1.39	-0.03
Calmar ratio Return relative to maximum drawdown	1.98	2.06	-0.08
Martin ratio Return relative to average drawdown	9.86	10.76	-0.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLLV vs. INCM - Sharpe Ratio Comparison

The current FLLV Sharpe Ratio is 1.55, which is comparable to the INCM Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of FLLV and INCM, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FLLV	INCM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.55	1.70	-0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	1.46	-0.65

Correlation

The correlation between FLLV and INCM is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FLLV vs. INCM - Dividend Comparison

FLLV's dividend yield for the trailing twelve months is around 4.80%, less than INCM's 5.05% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FLLV Franklin Liberty U.S. Low Volatility ETF	4.80%	4.71%	3.25%	1.75%	1.68%	1.41%	1.40%	1.31%	1.55%	1.44%	0.50%
INCM Franklin Income Focus ETF	5.05%	4.96%	5.06%	3.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FLLV vs. INCM - Drawdown Comparison

The maximum FLLV drawdown since its inception was -33.95%, which is greater than INCM's maximum drawdown of -7.84%. Use the drawdown chart below to compare losses from any high point for FLLV and INCM.

Drawdown Indicators

	FLLV	INCM	Difference
Max Drawdown Largest peak-to-trough decline	-33.95%	-7.84%	-26.11%
Max Drawdown (1Y) Largest decline over 1 year	-11.10%	-6.83%	-4.27%
Max Drawdown (5Y) Largest decline over 5 years	-18.40%	—	—
Current Drawdown Current decline from peak	-2.97%	-1.93%	-1.04%
Average Drawdown Average peak-to-trough decline	-3.30%	-1.12%	-2.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	1.30%	+0.93%

Volatility

FLLV vs. INCM - Volatility Comparison

Franklin Liberty U.S. Low Volatility ETF (FLLV) has a higher volatility of 3.23% compared to Franklin Income Focus ETF (INCM) at 2.08%. This indicates that FLLV'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

	FLLV	INCM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.23%	2.08%	+1.15%
Volatility (6M) Calculated over the trailing 6-month period	6.31%	3.82%	+2.49%
Volatility (1Y) Calculated over the trailing 1-year period	13.74%	8.11%	+5.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.32%	7.33%	+5.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.80%	7.33%	+8.47%