INCM vs. FLLV

Last updated Apr 1, 2026

Compare and contrast key facts about Franklin Income Focus ETF (INCM) and Franklin Liberty U.S. Low Volatility ETF (FLLV).

INCM and FLLV 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. FLLV is an actively managed fund by Franklin Templeton. It was launched on Sep 20, 2016.

Performance

INCM vs. FLLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Income Focus ETF (INCM) and Franklin Liberty U.S. Low Volatility ETF (FLLV). The values are adjusted to include any dividend payments, if applicable.

INCM vs. FLLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
INCM Franklin Income Focus ETF	3.92%	13.07%	6.80%	5.76%
FLLV Franklin Liberty U.S. Low Volatility ETF	7.36%	15.92%	10.70%	10.55%

Returns By Period

In the year-to-date period, INCM achieves a 3.92% return, which is significantly lower than FLLV's 7.36% return.

INCM

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

FLLV

• 1D: 1.23%
• 1M: -2.97%
• YTD: 7.36%
• 6M: 11.87%
• 1Y: 21.14%
• 3Y*: 15.33%
• 5Y*: 11.11%
• 10Y*: —

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

INCM vs. FLLV - Expense Ratio Comparison

INCM has a 0.38% expense ratio, which is higher than FLLV's 0.29% expense ratio.

INCM

Franklin Income Focus ETF

FLLV

Franklin Liberty U.S. Low Volatility ETF

Return for Risk

INCM vs. FLLV — 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

FLLV

FLLV Risk / Return Rank: 82
FLLV Sharpe Ratio Rank: 81
FLLV Sortino Ratio Rank: 83
FLLV Omega Ratio Rank: 87
FLLV Calmar Ratio Rank: 75
FLLV Martin Ratio Rank: 85

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. FLLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Income Focus ETF (INCM) and Franklin Liberty U.S. Low Volatility ETF (FLLV). 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	FLLV	Difference
Sharpe ratio Return per unit of total volatility	1.70	1.55	+0.16
Sortino ratio Return per unit of downside risk	2.39	2.17	+0.22
Omega ratio Gain probability vs. loss probability	1.39	1.35	+0.03
Calmar ratio Return relative to maximum drawdown	2.06	1.98	+0.08
Martin ratio Return relative to average drawdown	10.76	9.86	+0.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INCM vs. FLLV - Sharpe Ratio Comparison

The current INCM Sharpe Ratio is 1.70, which is comparable to the FLLV Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of INCM and FLLV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	INCM	FLLV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	1.55	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.84	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.46	0.81	+0.65

Correlation

The correlation between INCM and FLLV is 0.78, 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

INCM vs. FLLV - Dividend Comparison

INCM's dividend yield for the trailing twelve months is around 5.05%, more than FLLV's 4.80% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
INCM Franklin Income Focus ETF	5.05%	4.96%	5.06%	3.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FLLV Franklin Liberty U.S. Low Volatility ETF	4.80%	4.71%	3.25%	1.75%	1.68%	1.41%	1.40%	1.31%	1.55%	1.44%	0.50%

Drawdowns

INCM vs. FLLV - Drawdown Comparison

The maximum INCM drawdown since its inception was -7.84%, smaller than the maximum FLLV drawdown of -33.95%. Use the drawdown chart below to compare losses from any high point for INCM and FLLV.

Drawdown Indicators

	INCM	FLLV	Difference
Max Drawdown Largest peak-to-trough decline	-7.84%	-33.95%	+26.11%
Max Drawdown (1Y) Largest decline over 1 year	-6.83%	-11.10%	+4.27%
Max Drawdown (5Y) Largest decline over 5 years	—	-18.40%	—
Current Drawdown Current decline from peak	-1.93%	-2.97%	+1.04%
Average Drawdown Average peak-to-trough decline	-1.12%	-3.30%	+2.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.30%	2.23%	-0.93%

Volatility

INCM vs. FLLV - Volatility Comparison

The current volatility for Franklin Income Focus ETF (INCM) is 2.08%, while Franklin Liberty U.S. Low Volatility ETF (FLLV) has a volatility of 3.23%. This indicates that INCM experiences smaller price fluctuations and is considered to be less risky than FLLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INCM	FLLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.08%	3.23%	-1.15%
Volatility (6M) Calculated over the trailing 6-month period	3.82%	6.31%	-2.49%
Volatility (1Y) Calculated over the trailing 1-year period	8.11%	13.74%	-5.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.33%	13.32%	-5.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.33%	15.80%	-8.47%