INCE vs. MDIV
Compare and contrast key facts about Franklin Income Equity Focus ETF (INCE) and First Trust Multi-Asset Diversified Income Index Fund (MDIV).
INCE and MDIV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. INCE is an actively managed fund by Franklin Templeton. It was launched on Sep 20, 2016. MDIV is a passively managed fund by First Trust that tracks the performance of the NASDAQ US Multi-Asset Diversified Income Index. It was launched on Aug 14, 2012.
Performance
INCE vs. MDIV - Performance Comparison
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INCE vs. MDIV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INCE Franklin Income Equity Focus ETF | 7.36% | 15.92% | 10.70% | 13.87% | -8.54% | 23.36% | 12.33% | 32.72% | -2.14% | 19.66% |
MDIV First Trust Multi-Asset Diversified Income Index Fund | 4.59% | 3.77% | 10.05% | 11.50% | -3.86% | 16.51% | -14.84% | 18.59% | -5.78% | 5.61% |
Returns By Period
In the year-to-date period, INCE achieves a 7.36% return, which is significantly higher than MDIV's 4.59% return.
INCE
- 1D
- 1.23%
- 1M
- -2.97%
- YTD
- 7.36%
- 6M
- 11.87%
- 1Y
- 21.14%
- 3Y*
- 15.33%
- 5Y*
- 11.11%
- 10Y*
- —
MDIV
- 1D
- 0.56%
- 1M
- -1.47%
- YTD
- 4.59%
- 6M
- 4.22%
- 1Y
- 5.41%
- 3Y*
- 10.12%
- 5Y*
- 6.28%
- 10Y*
- 5.01%
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INCE vs. MDIV - Expense Ratio Comparison
INCE has a 0.29% expense ratio, which is lower than MDIV's 0.73% expense ratio.
Return for Risk
INCE vs. MDIV — Risk / Return Rank
INCE
MDIV
INCE vs. MDIV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Income Equity Focus ETF (INCE) and First Trust Multi-Asset Diversified Income Index Fund (MDIV). 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.
| INCE | MDIV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.55 | 0.56 | +0.99 |
Sortino ratioReturn per unit of downside risk | 2.17 | 0.80 | +1.37 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.12 | +0.23 |
Calmar ratioReturn relative to maximum drawdown | 1.98 | 0.64 | +1.34 |
Martin ratioReturn relative to average drawdown | 9.86 | 2.58 | +7.28 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| INCE | MDIV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.55 | 0.56 | +0.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | 0.57 | +0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.33 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.81 | 0.33 | +0.48 |
Correlation
The correlation between INCE and MDIV is 0.61, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
INCE vs. MDIV - Dividend Comparison
INCE's dividend yield for the trailing twelve months is around 4.80%, less than MDIV's 6.30% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
INCE Franklin Income Equity Focus ETF | 4.80% | 4.71% | 3.25% | 1.75% | 1.68% | 1.41% | 1.40% | 1.31% | 1.55% | 1.44% | 0.50% | 0.00% |
MDIV First Trust Multi-Asset Diversified Income Index Fund | 6.30% | 6.51% | 6.40% | 6.08% | 6.71% | 5.30% | 6.00% | 5.90% | 6.76% | 6.04% | 6.35% | 7.38% |
Drawdowns
INCE vs. MDIV - Drawdown Comparison
The maximum INCE drawdown since its inception was -33.95%, smaller than the maximum MDIV drawdown of -48.50%. Use the drawdown chart below to compare losses from any high point for INCE and MDIV.
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Drawdown Indicators
| INCE | MDIV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.95% | -48.50% | +14.55% |
Max Drawdown (1Y)Largest decline over 1 year | -11.10% | -8.84% | -2.26% |
Max Drawdown (5Y)Largest decline over 5 years | -18.40% | -13.02% | -5.38% |
Max Drawdown (10Y)Largest decline over 10 years | — | -48.50% | — |
Current DrawdownCurrent decline from peak | -2.97% | -2.25% | -0.72% |
Average DrawdownAverage peak-to-trough decline | -3.30% | -4.64% | +1.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.23% | 2.20% | +0.03% |
Volatility
INCE vs. MDIV - Volatility Comparison
Franklin Income Equity Focus ETF (INCE) has a higher volatility of 3.23% compared to First Trust Multi-Asset Diversified Income Index Fund (MDIV) at 2.11%. This indicates that INCE's price experiences larger fluctuations and is considered to be riskier than MDIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INCE | MDIV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.23% | 2.11% | +1.12% |
Volatility (6M)Calculated over the trailing 6-month period | 6.31% | 4.82% | +1.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.74% | 9.73% | +4.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.32% | 11.02% | +2.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.80% | 15.27% | +0.53% |