INCE vs. KBWY
INCE (Franklin Income Equity Focus ETF) and KBWY (Invesco KBW Premium Yield Equity REIT ETF) are both exchange-traded funds - INCE is a Dividend fund actively managed by Franklin Templeton, while KBWY is a REIT fund tracking the KBW Nasdaq Premium Yield Equity REIT Index. INCE is actively managed, while KBWY is passively managed. Over the past 5 years, INCE returned 10.85%/yr vs 3.00%/yr for KBWY. A 0.53 correlation means they provide meaningful diversification when combined. INCE charges 0.29%/yr vs 0.35%/yr for KBWY.
Performance
INCE vs. KBWY - Performance Comparison
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Returns By Period
In the year-to-date period, INCE achieves a 12.00% return, which is significantly lower than KBWY's 22.56% return.
INCE
- 1D
- 0.22%
- 1M
- -0.59%
- YTD
- 12.00%
- 6M
- 11.92%
- 1Y
- 23.98%
- 3Y*
- 16.37%
- 5Y*
- 10.85%
- 10Y*
- —
KBWY
- 1D
- 1.25%
- 1M
- 4.73%
- YTD
- 22.56%
- 6M
- 24.93%
- 1Y
- 25.07%
- 3Y*
- 11.98%
- 5Y*
- 3.00%
- 10Y*
- 1.46%
INCE vs. KBWY - 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% | 19.66% |
KBWY Invesco KBW Premium Yield Equity REIT ETF | 22.56% | -5.30% | -3.49% | 12.88% | -19.00% | 31.22% | -25.83% | 23.36% | -18.20% | 0.81% |
Correlation
The correlation between INCE and KBWY is 0.53, 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 | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2016 | 0.53 |
The correlation between INCE and KBWY shifts across timeframes, from 0.53 (all time) to 0.63 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
INCE vs. KBWY — Risk / Return Rank
INCE
KBWY
INCE vs. KBWY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Income Equity Focus ETF (INCE) and Invesco KBW Premium Yield Equity REIT ETF (KBWY). 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 | KBWY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.35 | ||
| Sortino ratioReturn per unit of downside risk | +1.96 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.25 | +0.27 |
| Calmar ratioReturn relative to maximum drawdown | 4.91 | 2.72 | +2.19 |
| Martin ratioReturn relative to average drawdown | 18.21 | 6.48 | +11.73 |
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Drawdowns
INCE vs. KBWY - Drawdown Comparison
The maximum INCE drawdown since its inception was -33.95%, smaller than the maximum KBWY drawdown of -57.68%. Use the drawdown chart below to compare losses from any high point for INCE and KBWY.
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Drawdown Indicators
| INCE | KBWY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.95% | -57.68% | +23.73% |
Max Drawdown (1Y)Largest decline over 1 year | -4.90% | -9.24% | +4.34% |
Max Drawdown (3Y)Largest decline over 3 years | -14.01% | -29.93% | +15.92% |
Max Drawdown (5Y)Largest decline over 5 years | -18.40% | -32.29% | +13.89% |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.68% | — |
Current DrawdownCurrent decline from peak | -1.77% | -6.64% | +4.87% |
Average DrawdownAverage peak-to-trough decline | -3.24% | -14.15% | +10.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.32% | 3.88% | -2.56% |
Volatility
INCE vs. KBWY - Volatility Comparison
The current volatility for Franklin Income Equity Focus ETF (INCE) is 2.76%, while Invesco KBW Premium Yield Equity REIT ETF (KBWY) has a volatility of 4.85%. This indicates that INCE experiences smaller price fluctuations and is considered to be less risky than KBWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INCE | KBWY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.76% | 4.85% | -2.09% |
Volatility (6M)Calculated over the trailing 6-month period | 6.18% | 12.16% | -5.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.46% | 16.79% | -8.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.28% | 21.61% | -8.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.66% | 27.08% | -11.42% |
INCE vs. KBWY - Expense Ratio Comparison
INCE has a 0.29% expense ratio, which is lower than KBWY's 0.35% expense ratio.
Dividends
INCE vs. KBWY - Dividend Comparison
INCE's dividend yield for the trailing twelve months is around 4.78%, less than KBWY's 8.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
KBWY Invesco KBW Premium Yield Equity REIT ETF | 8.28% | 9.79% | 8.74% | 7.90% | 7.41% | 5.05% | 10.35% | 6.19% | 8.64% | 7.25% | 6.55% | 5.72% |
Frequently Asked Questions
INCE and KBWY have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KBWY has higher volatility (4.85%) compared to INCE (2.76%). In terms of maximum drawdown, INCE dropped -33.95% vs KBWY's -57.68%.
On 5-year performance, INCE leads with 10.85% vs 3.00% for KBWY. 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.
Over the 5-year period, INCE has performed better with a 10.85% return vs 3.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
INCE is cheaper with a 0.29% expense ratio, compared with 0.35% for KBWY.
KBWY has the higher dividend yield at 8.28%, compared with 4.78% for INCE.
INCE is categorized as Dividend, while KBWY is REIT. They also come from different issuers: Franklin Templeton and Invesco. Their fees differ too: 0.29% for INCE and 0.35% for KBWY.
INCE currently has the higher Sharpe Ratio (2.85 vs 1.50), 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.
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