INCE vs. USMV
Compare and contrast key facts about Franklin Income Equity Focus ETF (INCE) and iShares MSCI USA Minimum Volatility Factor ETF (USMV).
INCE and USMV 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. USMV is a passively managed fund by iShares that tracks the performance of the MSCI USA Minimum Volatility Index. It was launched on Oct 18, 2011.
Performance
INCE vs. USMV - Performance Comparison
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INCE vs. USMV - 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% |
USMV iShares MSCI USA Minimum Volatility Factor ETF | -1.10% | 7.65% | 15.74% | 10.33% | -9.43% | 20.85% | 5.64% | 27.69% | 1.33% | 18.91% |
Returns By Period
In the year-to-date period, INCE achieves a 7.36% return, which is significantly higher than USMV's -1.10% return.
INCE
- 1D
- 1.23%
- 1M
- -2.97%
- YTD
- 7.36%
- 6M
- 11.87%
- 1Y
- 21.14%
- 3Y*
- 15.33%
- 5Y*
- 11.11%
- 10Y*
- —
USMV
- 1D
- 1.15%
- 1M
- -4.79%
- YTD
- -1.10%
- 6M
- -1.72%
- 1Y
- 0.57%
- 3Y*
- 10.28%
- 5Y*
- 7.61%
- 10Y*
- 9.65%
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INCE vs. USMV - Expense Ratio Comparison
INCE has a 0.29% expense ratio, which is higher than USMV's 0.15% expense ratio.
Return for Risk
INCE vs. USMV — Risk / Return Rank
INCE
USMV
INCE vs. USMV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Income Equity Focus ETF (INCE) and iShares MSCI USA Minimum Volatility Factor ETF (USMV). 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 | USMV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.55 | 0.05 | +1.50 |
Sortino ratioReturn per unit of downside risk | 2.17 | 0.15 | +2.02 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.02 | +0.33 |
Calmar ratioReturn relative to maximum drawdown | 1.98 | 0.18 | +1.80 |
Martin ratioReturn relative to average drawdown | 9.86 | 0.79 | +9.08 |
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 | USMV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.55 | 0.05 | +1.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.84 | 0.62 | +0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.67 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.81 | 0.85 | -0.04 |
Correlation
The correlation between INCE and USMV is 0.82, 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
INCE vs. USMV - Dividend Comparison
INCE's dividend yield for the trailing twelve months is around 4.80%, more than USMV's 1.58% 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% |
USMV iShares MSCI USA Minimum Volatility Factor ETF | 1.58% | 1.49% | 1.67% | 1.82% | 1.62% | 1.26% | 1.81% | 1.88% | 2.12% | 1.77% | 2.22% | 2.02% |
Drawdowns
INCE vs. USMV - Drawdown Comparison
The maximum INCE drawdown since its inception was -33.95%, roughly equal to the maximum USMV drawdown of -33.10%. Use the drawdown chart below to compare losses from any high point for INCE and USMV.
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Drawdown Indicators
| INCE | USMV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.95% | -33.10% | -0.85% |
Max Drawdown (1Y)Largest decline over 1 year | -11.10% | -8.91% | -2.19% |
Max Drawdown (5Y)Largest decline over 5 years | -18.40% | -17.93% | -0.47% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.10% | — |
Current DrawdownCurrent decline from peak | -2.97% | -4.79% | +1.82% |
Average DrawdownAverage peak-to-trough decline | -3.30% | -2.88% | -0.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.23% | 2.00% | +0.23% |
Volatility
INCE vs. USMV - Volatility Comparison
Franklin Income Equity Focus ETF (INCE) has a higher volatility of 3.23% compared to iShares MSCI USA Minimum Volatility Factor ETF (USMV) at 3.03%. This indicates that INCE's price experiences larger fluctuations and is considered to be riskier than USMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INCE | USMV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.23% | 3.03% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 6.31% | 6.08% | +0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.74% | 12.54% | +1.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.32% | 12.39% | +0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.80% | 14.51% | +1.29% |