INCM vs. AOR
INCM (Franklin Income Focus ETF) and AOR (iShares Core 60/40 Balanced Allocation ETF) are both Diversified Portfolio funds. INCM is actively managed, while AOR is passively managed. Over the past 3 years, INCM returned 11.04%/yr vs 13.49%/yr for AOR. Their 0.70 correlation means they have sometimes moved together and sometimes differently. INCM charges 0.38%/yr vs 0.15%/yr for AOR.
Performance
INCM vs. AOR - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with INCM having a 7.65% return and AOR slightly lower at 7.55%.
INCM
- 1D
- 0.41%
- 1M
- 0.81%
- 6M
- 3.80%
- YTD
- 7.65%
- 1Y
- 14.02%
- 3Y*
- 11.04%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 10.62%
AOR
- 1D
- 0.77%
- 1M
- -0.30%
- 6M
- 5.14%
- YTD
- 7.55%
- 1Y
- 15.96%
- 3Y*
- 13.49%
- 5Y*
- 6.70%
- 10Y*
- 8.13%
- ALL TIME*
- 8.71%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $25.10M | $20.65M | $21.92M | |
| $11.73M | $12.25M | $11.49M |
INCM vs. AOR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
INCM Franklin Income Focus ETF | 7.65% | 13.07% | 6.80% | 5.76% |
AOR iShares Core 60/40 Balanced Allocation ETF | 7.55% | 16.44% | 10.68% | 7.92% |
Correlation
The correlation between INCM and AOR is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.65 |
Correlation (3Y) Balances recent behavior with more history. | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jun 8, 2023 | 0.70 |
The correlation between INCM and AOR has been stable across timeframes, ranging from 0.65 to 0.70 - a consistent structural relationship.
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Return for Risk
INCM vs. AOR — Risk / Return Rank
INCM
AOR
INCM vs. AOR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Income Focus ETF (INCM) and iShares Core 60/40 Balanced Allocation ETF (AOR). 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.
| INCM | AOR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.82 | ||
| Sortino ratioReturn per unit of downside risk | +1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.32 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 4.41 | 2.41 | +2.00 |
| Martin ratioReturn relative to average drawdown | 17.73 | 10.08 | +7.65 |
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Drawdowns
INCM vs. AOR - Drawdown Comparison
The maximum INCM drawdown since its inception was -7.84%, smaller than the maximum AOR drawdown of -24.44%. Use the drawdown chart below to compare losses from any high point for INCM and AOR.
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Drawdown Indicators
| INCM | AOR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.84% | -24.44% | +16.60% |
Max Drawdown (1Y)Largest decline over 1 year | -3.19% | -6.64% | +3.45% |
Max Drawdown (3Y)Largest decline over 3 years | -7.84% | -9.77% | +1.93% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.72% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -22.95% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.38% | +0.38% |
Average DrawdownAverage peak-to-trough decline | -1.07% | -3.45% | +2.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 1.59% | -0.80% |
Volatility
INCM vs. AOR - Volatility Comparison
The current volatility for Franklin Income Focus ETF (INCM) is 1.48%, while iShares Core 60/40 Balanced Allocation ETF (AOR) has a volatility of 2.70%. This indicates that INCM experiences smaller price fluctuations and is considered to be less risky than AOR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INCM | AOR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 2.70% | -1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 4.36% | 7.74% | -3.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.50% | 9.20% | -3.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.21% | 10.67% | -3.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.21% | 10.66% | -3.45% |
INCM vs. AOR - Expense Ratio Comparison
INCM has a 0.38% expense ratio, which is higher than AOR's 0.15% expense ratio.
Dividends
INCM vs. AOR - Dividend Comparison
INCM's dividend yield for the trailing twelve months is around 5.18%, more than AOR's 2.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AOR iShares Core 60/40 Balanced Allocation ETF | 2.56% | 2.55% | 2.66% | 2.50% | 2.12% | 1.64% | 1.89% | 2.56% | 2.49% | 4.51% | 2.16% | 2.12% |
INCM Franklin Income Focus ETF | 5.18% | 4.96% | 5.06% | 3.01% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
INCM and AOR have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AOR has higher volatility (2.70%) compared to INCM (1.48%). In terms of maximum drawdown, INCM dropped -7.84% vs AOR's -24.44%.
On 3-year performance, AOR leads with 13.49% vs 11.04% for INCM. On fees, AOR is cheaper at 0.15% per year. On volatility, INCM has been the lower-risk option at 1.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, AOR has performed better with a 13.49% return vs 11.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AOR is cheaper with a 0.15% expense ratio, compared with 0.38% for INCM.
INCM has the higher dividend yield at 5.18%, compared with 2.56% for AOR.
They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.38% for INCM and 0.15% for AOR.
INCM currently has the higher Sharpe Ratio (2.57 vs 1.75), 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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