INCE vs. BALI

Last updated Jun 24, 2026

INCE (Franklin Income Equity Focus ETF) and BALI (Blackrock Advantage Large Cap Income ETF) are both exchange-traded funds - INCE is a Dividend fund actively managed by Franklin Templeton, while BALI is a Derivative Income fund actively managed by BlackRock. Both are actively managed. Over the past year, INCE returned 23.98% vs 22.98% for BALI. A 0.68 correlation means they provide meaningful diversification when combined. INCE charges 0.29%/yr vs 0.35%/yr for BALI.

Performance

INCE vs. BALI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Income Equity Focus ETF (INCE) and Blackrock Advantage Large Cap Income ETF (BALI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INCE achieves a 12.00% return, which is significantly higher than BALI's 8.90% return.

INCE

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

BALI

• 1D: -1.07%
• 1M: -1.38%
• YTD: 8.90%
• 6M: 8.29%
• 1Y: 22.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

INCE vs. BALI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
INCE Franklin Income Equity Focus ETF	12.00%	15.92%	10.70%	9.79%
BALI Blackrock Advantage Large Cap Income ETF	8.90%	14.51%	22.38%	9.71%

Correlation

The correlation between INCE and BALI is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (All Time) Calculated using the full available price history since Sep 28, 2023	0.68

The correlation between INCE and BALI shifts across timeframes, from 0.52 (1 year) to 0.68 (all time), reflecting how their relationship changes across market environments.

INCE vs. BALI - Sectors Allocation Comparison

Sectors	INCE	BALI
Industrials	16.2%	7.0%
Consumer Defensive	15.5%	5.8%
Energy	13.3%	4.0%
Utilities	12.6%	2.0%
Technology	10.5%	35.4%
Financial Services	9.5%	9.2%
Basic Materials	7.5%	1.4%
Healthcare	7.1%	9.5%
Communication Services	4.2%	10.1%
Consumer Cyclical	3.7%	9.7%
Real Estate	-	2.1%

Return for Risk

INCE vs. BALI — Risk / Return Rank

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

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

BALI

BALI Risk / Return Rank: 74
BALI Sharpe Ratio Rank: 72
BALI Sortino Ratio Rank: 70
BALI Omega Ratio Rank: 73
BALI Calmar Ratio Rank: 71
BALI Martin Ratio Rank: 83

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.

INCE vs. BALI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Income Equity Focus ETF (INCE) and Blackrock Advantage Large Cap Income ETF (BALI). 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.

	INCE	BALI	Difference
Sharpe ratio: Return per unit of total volatility	2.85	2.21	+0.65
Sortino ratio: Return per unit of downside risk	4.13	3.03	+1.10
Omega ratio: Gain probability vs. loss probability	1.52	1.41	+0.11
Calmar ratio: Return relative to maximum drawdown	4.91	3.44	+1.48
Martin ratio: Return relative to average drawdown	18.21	16.45	+1.76

INCE vs. BALI - Sharpe Ratio Comparison

The current INCE Sharpe Ratio is 2.85, which is comparable to the BALI Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of INCE and BALI, 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

INCE vs. BALI - Drawdown Comparison

The maximum INCE drawdown since its inception was -33.95%, which is greater than BALI's maximum drawdown of -16.65%. Use the drawdown chart below to compare losses from any high point for INCE and BALI.

Drawdown Indicators

	INCE	BALI	Difference
Max Drawdown Largest peak-to-trough decline	-33.95%	-16.65%	-17.30%
Max Drawdown (1Y) Largest decline over 1 year	-4.90%	-6.71%	+1.81%
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	-1.77%	-2.49%	+0.72%
Average Drawdown Average peak-to-trough decline	-3.24%	-1.63%	-1.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.32%	1.40%	-0.08%

Volatility

INCE vs. BALI - Volatility Comparison

The current volatility for Franklin Income Equity Focus ETF (INCE) is 2.76%, while Blackrock Advantage Large Cap Income ETF (BALI) has a volatility of 4.07%. This indicates that INCE experiences smaller price fluctuations and is considered to be less risky than BALI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INCE	BALI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.76%	4.07%	-1.31%
Volatility (6M) Calculated over the trailing 6-month period	6.18%	8.30%	-2.12%
Volatility (1Y) Calculated over the trailing 1-year period	8.46%	10.49%	-2.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.28%	13.02%	+0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.66%	13.02%	+2.64%

INCE vs. BALI - Expense Ratio Comparison

INCE has a 0.29% expense ratio, which is lower than BALI's 0.35% expense ratio.

Dividends

INCE vs. BALI - Dividend Comparison

INCE's dividend yield for the trailing twelve months is around 4.78%, less than BALI's 7.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BALI Blackrock Advantage Large Cap Income ETF	7.83%	8.51%	7.13%	2.13%	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 INCE and BALI in my portfolio?

INCE and BALI have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INCE or BALI?

BALI has higher volatility (4.07%) compared to INCE (2.76%). In terms of maximum drawdown, INCE dropped -33.95% vs BALI's -16.65%.

Which ETF is better, INCE or BALI?

On 1-year performance, INCE leads with 23.98% vs 22.98% for BALI. On fees, INCE is cheaper at 0.29% 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, INCE or BALI?

Over the 1-year period, INCE has performed better with a 23.98% return vs 22.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, INCE or BALI?

INCE is cheaper with a 0.29% expense ratio, compared with 0.35% for BALI.

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

BALI has the higher dividend yield at 7.83%, compared with 4.78% for INCE.

What is the main difference between INCE and BALI?

INCE is categorized as Dividend, while BALI is Derivative Income. They also come from different issuers: Franklin Templeton and BlackRock. Their fees differ too: 0.29% for INCE and 0.35% for BALI.

Which has better risk-adjusted returns?

INCE currently has the higher Sharpe Ratio (2.85 vs 2.21), 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.