INCE vs. DIVB

Last updated Jun 24, 2026

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

Performance

INCE vs. DIVB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Income Equity Focus ETF (INCE) and iShares Core Dividend ETF (DIVB). 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 lower than DIVB's 17.14% return.

INCE

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

DIVB

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

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

INCE vs. DIVB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
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%

Correlation

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

Return for Risk

INCE vs. DIVB — 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

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

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. DIVB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Income Equity Focus ETF (INCE) and iShares Core Dividend ETF (DIVB). 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	DIVB	Difference
Sharpe ratio: Return per unit of total volatility	2.85	2.38	+0.47
Sortino ratio: Return per unit of downside risk	4.13	3.34	+0.79
Omega ratio: Gain probability vs. loss probability	1.52	1.42	+0.10
Calmar ratio: Return relative to maximum drawdown	4.91	4.08	+0.83
Martin ratio: Return relative to average drawdown	18.21	13.64	+4.56

INCE vs. DIVB - Sharpe Ratio Comparison

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

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

Drawdown Indicators

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

Volatility

INCE vs. DIVB - Volatility Comparison

The current volatility for Franklin Income Equity Focus ETF (INCE) is 2.76%, while iShares Core Dividend ETF (DIVB) has a volatility of 4.61%. This indicates that INCE experiences smaller price fluctuations and is considered to be less risky than DIVB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

INCE vs. DIVB - Expense Ratio Comparison

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

Dividends

INCE vs. DIVB - Dividend Comparison

INCE's dividend yield for the trailing twelve months is around 4.78%, more than DIVB's 2.27% 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 INCE and DIVB in my portfolio?

INCE and DIVB 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, INCE or DIVB?

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

Which ETF is better, INCE or DIVB?

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, INCE or DIVB?

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, INCE or DIVB?

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

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

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

What is the main difference between INCE and DIVB?

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

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.