INCM vs. DWAT

Last updated Apr 1, 2026

Compare and contrast key facts about Franklin Income Focus ETF (INCM) and Arrow DWA Tactical ETF (DWAT).

INCM and DWAT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. INCM is an actively managed fund by Franklin Templeton. It was launched on Jun 6, 2023. DWAT is an actively managed fund by Arrow Funds. It was launched on Oct 1, 2014.

Performance

INCM vs. DWAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Income Focus ETF (INCM) and Arrow DWA Tactical ETF (DWAT). The values are adjusted to include any dividend payments, if applicable.

INCM vs. DWAT - Yearly Performance Comparison

	2026 (YTD)
INCM Franklin Income Focus ETF	-0.89%
DWAT Arrow DWA Tactical ETF	0.00%

Returns By Period

INCM

• 1D: 0.70%
• 1M: -1.93%
• YTD: 3.92%
• 6M: 6.45%
• 1Y: 13.76%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DWAT

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

INCM vs. DWAT - Expense Ratio Comparison

INCM has a 0.38% expense ratio, which is lower than DWAT's 1.66% expense ratio.

DWAT

Arrow DWA Tactical ETF

INCM

Franklin Income Focus ETF

Return for Risk

INCM vs. DWAT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

INCM

INCM Risk / Return Rank: 86
INCM Sharpe Ratio Rank: 86
INCM Sortino Ratio Rank: 88
INCM Omega Ratio Rank: 91
INCM Calmar Ratio Rank: 78
INCM Martin Ratio Rank: 88

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.

INCM vs. DWAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Income Focus ETF (INCM) and Arrow DWA Tactical ETF (DWAT). 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.

	INCM	DWAT	Difference
Sharpe ratio Return per unit of total volatility	1.70	—	—
Sortino ratio Return per unit of downside risk	2.39	—	—
Omega ratio Gain probability vs. loss probability	1.39	—	—
Calmar ratio Return relative to maximum drawdown	2.06	—	—
Martin ratio Return relative to average drawdown	10.76	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	INCM	DWAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.46	—	—

Dividends

INCM vs. DWAT - Dividend Comparison

INCM's dividend yield for the trailing twelve months is around 5.05%, while DWAT has not paid dividends to shareholders.

	TTM	2025	2024	2023
INCM Franklin Income Focus ETF	5.05%	4.96%	5.06%	3.01%
DWAT Arrow DWA Tactical ETF	0.00%	0.00%	0.00%	0.00%

Drawdowns

INCM vs. DWAT - Drawdown Comparison

The maximum INCM drawdown since its inception was -7.84%, which is greater than DWAT's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for INCM and DWAT.

Drawdown Indicators

	INCM	DWAT	Difference
Max Drawdown Largest peak-to-trough decline	-7.84%	0.00%	-7.84%
Max Drawdown (1Y) Largest decline over 1 year	-6.83%	—	—
Current Drawdown Current decline from peak	-1.93%	0.00%	-1.93%
Average Drawdown Average peak-to-trough decline	-1.12%	0.00%	-1.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.30%	—	—

Volatility

Volatility by Period

	INCM	DWAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.08%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.82%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	8.11%	0.00%	+8.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.33%	0.00%	+7.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.33%	0.00%	+7.33%