MDIV vs. INCE
Compare and contrast key facts about First Trust Multi-Asset Diversified Income Index Fund (MDIV) and Franklin Income Equity Focus ETF (INCE).
MDIV and INCE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MDIV is a passively managed fund by First Trust that tracks the performance of the NASDAQ US Multi-Asset Diversified Income Index. It was launched on Aug 14, 2012. INCE is an actively managed fund by Franklin Templeton. It was launched on Sep 20, 2016.
Performance
MDIV vs. INCE - Performance Comparison
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MDIV vs. INCE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MDIV First Trust Multi-Asset Diversified Income Index Fund | 4.59% | 3.77% | 10.05% | 11.50% | -3.86% | 16.51% | -14.84% | 18.59% | -5.78% | 5.61% |
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% |
Returns By Period
In the year-to-date period, MDIV achieves a 4.59% return, which is significantly lower than INCE's 7.36% return.
MDIV
- 1D
- 0.56%
- 1M
- -1.47%
- YTD
- 4.59%
- 6M
- 4.22%
- 1Y
- 5.41%
- 3Y*
- 10.12%
- 5Y*
- 6.28%
- 10Y*
- 5.01%
INCE
- 1D
- 1.23%
- 1M
- -2.97%
- YTD
- 7.36%
- 6M
- 11.87%
- 1Y
- 21.14%
- 3Y*
- 15.33%
- 5Y*
- 11.11%
- 10Y*
- —
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MDIV vs. INCE - Expense Ratio Comparison
MDIV has a 0.73% expense ratio, which is higher than INCE's 0.29% expense ratio.
Return for Risk
MDIV vs. INCE — Risk / Return Rank
MDIV
INCE
MDIV vs. INCE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Multi-Asset Diversified Income Index Fund (MDIV) and Franklin Income Equity Focus ETF (INCE). 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.
| MDIV | INCE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.56 | 1.55 | -0.99 |
Sortino ratioReturn per unit of downside risk | 0.80 | 2.17 | -1.37 |
Omega ratioGain probability vs. loss probability | 1.12 | 1.35 | -0.23 |
Calmar ratioReturn relative to maximum drawdown | 0.64 | 1.98 | -1.34 |
Martin ratioReturn relative to average drawdown | 2.58 | 9.86 | -7.28 |
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
| MDIV | INCE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.56 | 1.55 | -0.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.57 | 0.84 | -0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.81 | -0.48 |
Correlation
The correlation between MDIV and INCE is 0.61, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
MDIV vs. INCE - Dividend Comparison
MDIV's dividend yield for the trailing twelve months is around 6.30%, more than INCE's 4.80% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MDIV First Trust Multi-Asset Diversified Income Index Fund | 6.30% | 6.51% | 6.40% | 6.08% | 6.71% | 5.30% | 6.00% | 5.90% | 6.76% | 6.04% | 6.35% | 7.38% |
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% |
Drawdowns
MDIV vs. INCE - Drawdown Comparison
The maximum MDIV drawdown since its inception was -48.50%, which is greater than INCE's maximum drawdown of -33.95%. Use the drawdown chart below to compare losses from any high point for MDIV and INCE.
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Drawdown Indicators
| MDIV | INCE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.50% | -33.95% | -14.55% |
Max Drawdown (1Y)Largest decline over 1 year | -8.84% | -11.10% | +2.26% |
Max Drawdown (5Y)Largest decline over 5 years | -13.02% | -18.40% | +5.38% |
Max Drawdown (10Y)Largest decline over 10 years | -48.50% | — | — |
Current DrawdownCurrent decline from peak | -2.25% | -2.97% | +0.72% |
Average DrawdownAverage peak-to-trough decline | -4.64% | -3.30% | -1.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.20% | 2.23% | -0.03% |
Volatility
MDIV vs. INCE - Volatility Comparison
The current volatility for First Trust Multi-Asset Diversified Income Index Fund (MDIV) is 2.11%, while Franklin Income Equity Focus ETF (INCE) has a volatility of 3.23%. This indicates that MDIV experiences smaller price fluctuations and is considered to be less risky than INCE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MDIV | INCE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.11% | 3.23% | -1.12% |
Volatility (6M)Calculated over the trailing 6-month period | 4.82% | 6.31% | -1.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.73% | 13.74% | -4.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.02% | 13.32% | -2.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.27% | 15.80% | -0.53% |