INCM vs. PFF
INCM (Franklin Income Focus ETF) and PFF (iShares Preferred and Income Securities ETF) are both exchange-traded funds - INCM is a Diversified Portfolio fund actively managed by Franklin Templeton, while PFF is a Preferred Stock fund tracking the ICE Exchange-Listed Preferred & Hybrid Securities Index. INCM is actively managed, while PFF is passively managed. Over the past 3 years, INCM returned 11.04%/yr vs 6.21%/yr for PFF. Their 0.63 correlation means they have sometimes moved together and sometimes differently. INCM charges 0.38%/yr vs 0.46%/yr for PFF.
Performance
INCM vs. PFF - Performance Comparison
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Returns By Period
In the year-to-date period, INCM achieves a 7.65% return, which is significantly higher than PFF's 1.86% return.
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%
PFF
- 1D
- 0.96%
- 1M
- 0.93%
- 6M
- -0.32%
- YTD
- 1.86%
- 1Y
- 4.05%
- 3Y*
- 6.21%
- 5Y*
- 0.85%
- 10Y*
- 2.99%
- ALL TIME*
- 3.77%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.73M | $12.25M | $11.49M | |
| $86.37M | $81.59M | $92.47M |
INCM vs. PFF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
INCM Franklin Income Focus ETF | 7.65% | 13.07% | 6.80% | 5.76% |
PFF iShares Preferred and Income Securities ETF | 1.86% | 4.87% | 7.24% | 5.11% |
Correlation
The correlation between INCM and PFF is 0.64, 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. | 0.64 |
Correlation (3Y) Balances recent behavior with more history. | 0.63 |
Correlation (All Time) Calculated using the full available price history since Jun 8, 2023 | 0.63 |
The correlation between INCM and PFF has been stable across timeframes, ranging from 0.63 to 0.64 - a consistent structural relationship.
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Return for Risk
INCM vs. PFF — Risk / Return Rank
INCM
PFF
INCM vs. PFF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Income Focus ETF (INCM) and iShares Preferred and Income Securities ETF (PFF). 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 | PFF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.01 | ||
| Sortino ratioReturn per unit of downside risk | +2.82 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.10 | +0.38 |
| Calmar ratioReturn relative to maximum drawdown | 4.41 | 0.77 | +3.64 |
| Martin ratioReturn relative to average drawdown | 17.73 | 1.98 | +15.75 |
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Drawdowns
INCM vs. PFF - Drawdown Comparison
The maximum INCM drawdown since its inception was -7.84%, smaller than the maximum PFF drawdown of -65.55%. Use the drawdown chart below to compare losses from any high point for INCM and PFF.
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Drawdown Indicators
| INCM | PFF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.84% | -65.55% | +57.71% |
Max Drawdown (1Y)Largest decline over 1 year | -3.19% | -5.28% | +2.09% |
Max Drawdown (3Y)Largest decline over 3 years | -7.84% | -10.63% | +2.79% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.05% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.10% | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.13% | +2.13% |
Average DrawdownAverage peak-to-trough decline | -1.07% | -5.74% | +4.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.79% | 2.05% | -1.26% |
Volatility
INCM vs. PFF - Volatility Comparison
The current volatility for Franklin Income Focus ETF (INCM) is 1.48%, while iShares Preferred and Income Securities ETF (PFF) has a volatility of 2.77%. This indicates that INCM experiences smaller price fluctuations and is considered to be less risky than PFF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INCM | PFF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.48% | 2.77% | -1.29% |
Volatility (6M)Calculated over the trailing 6-month period | 4.36% | 5.95% | -1.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.50% | 7.38% | -1.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.21% | 10.42% | -3.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.21% | 12.71% | -5.50% |
INCM vs. PFF - Expense Ratio Comparison
INCM has a 0.38% expense ratio, which is lower than PFF's 0.46% expense ratio.
Dividends
INCM vs. PFF - Dividend Comparison
INCM's dividend yield for the trailing twelve months is around 5.18%, less than PFF's 5.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PFF iShares Preferred and Income Securities ETF | 5.41% | 6.30% | 6.32% | 6.63% | 6.01% | 4.45% | 4.79% | 5.31% | 6.32% | 5.59% | 5.85% | 5.76% |
Frequently Asked Questions
INCM and PFF have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFF has higher volatility (2.77%) compared to INCM (1.48%). In terms of maximum drawdown, INCM dropped -7.84% vs PFF's -65.55%.
On 3-year performance, INCM leads with 11.04% vs 6.21% for PFF. On fees, INCM is cheaper at 0.38% 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, INCM has performed better with a 11.04% return vs 6.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
INCM is cheaper with a 0.38% expense ratio, compared with 0.46% for PFF.
PFF has the higher dividend yield at 5.41%, compared with 5.18% for INCM.
INCM is categorized as Diversified Portfolio, while PFF is Preferred Stock. They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.38% for INCM and 0.46% for PFF.
INCM currently has the higher Sharpe Ratio (2.57 vs 0.55), 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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