MVFD vs. INCM

Last updated Jun 25, 2026

MVFD (Monarch Volume Factor Dividend Tree ETF) and INCM (Franklin Income Focus ETF) are both Diversified Portfolio funds. MVFD is passively managed, while INCM is actively managed. Over the past year, MVFD returned 17.53% vs 13.98% for INCM. A 0.67 correlation means they provide meaningful diversification when combined. MVFD charges 1.19%/yr vs 0.38%/yr for INCM.

Performance

MVFD vs. INCM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Monarch Volume Factor Dividend Tree ETF (MVFD) and Franklin Income Focus ETF (INCM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with MVFD having a 6.33% return and INCM slightly lower at 6.31%.

MVFD

• 1D: -0.47%
• 1M: -2.88%
• YTD: 6.33%
• 6M: 4.00%
• 1Y: 17.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

INCM

• 1D: 0.03%
• 1M: -0.36%
• YTD: 6.31%
• 6M: 5.93%
• 1Y: 13.98%
• 3Y*: 10.77%
• 5Y*: —
• 10Y*: —

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

MVFD vs. INCM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MVFD Monarch Volume Factor Dividend Tree ETF	6.33%	10.09%	5.47%
INCM Franklin Income Focus ETF	6.31%	13.07%	5.67%

Correlation

The correlation between MVFD and INCM is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.57
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.67

The correlation between MVFD and INCM has been stable across timeframes, ranging from 0.57 to 0.67 - a consistent structural relationship.

Return for Risk

MVFD vs. INCM — Risk / Return Rank

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

MVFD

MVFD Risk / Return Rank: 38
MVFD Sharpe Ratio Rank: 36
MVFD Sortino Ratio Rank: 36
MVFD Omega Ratio Rank: 34
MVFD Calmar Ratio Rank: 44
MVFD Martin Ratio Rank: 40

INCM

INCM Risk / Return Rank: 88
INCM Sharpe Ratio Rank: 87
INCM Sortino Ratio Rank: 89
INCM Omega Ratio Rank: 87
INCM Calmar Ratio Rank: 87
INCM Martin Ratio Rank: 90

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.

MVFD vs. INCM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Monarch Volume Factor Dividend Tree ETF (MVFD) and Franklin Income Focus ETF (INCM). 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.

	MVFD	INCM	Difference
Sharpe ratio: Return per unit of total volatility	1.15	2.54	-1.39
Sortino ratio: Return per unit of downside risk	1.69	3.63	-1.95
Omega ratio: Gain probability vs. loss probability	1.21	1.48	-0.27
Calmar ratio: Return relative to maximum drawdown	1.94	4.40	-2.46
Martin ratio: Return relative to average drawdown	5.61	18.17	-12.56

MVFD vs. INCM - Sharpe Ratio Comparison

The current MVFD Sharpe Ratio is 1.15, which is lower than the INCM Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of MVFD and INCM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MVFD vs. INCM - Drawdown Comparison

The maximum MVFD drawdown since its inception was -19.07%, which is greater than INCM's maximum drawdown of -7.84%. Use the drawdown chart below to compare losses from any high point for MVFD and INCM.

Drawdown Indicators

	MVFD	INCM	Difference
Max Drawdown Largest peak-to-trough decline	-19.07%	-7.84%	-11.23%
Max Drawdown (1Y) Largest decline over 1 year	-9.08%	-3.19%	-5.89%
Max Drawdown (3Y) Largest decline over 3 years	—	-7.84%	—
Current Drawdown Current decline from peak	-4.72%	-0.88%	-3.84%
Average Drawdown Average peak-to-trough decline	-3.92%	-1.08%	-2.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	0.77%	+2.36%

Volatility

MVFD vs. INCM - Volatility Comparison

Monarch Volume Factor Dividend Tree ETF (MVFD) has a higher volatility of 4.14% compared to Franklin Income Focus ETF (INCM) at 2.42%. This indicates that MVFD's price experiences larger fluctuations and is considered to be riskier than INCM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MVFD	INCM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.14%	2.42%	+1.72%
Volatility (6M) Calculated over the trailing 6-month period	10.39%	4.29%	+6.10%
Volatility (1Y) Calculated over the trailing 1-year period	15.30%	5.52%	+9.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.99%	7.28%	+9.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.99%	7.28%	+9.71%

MVFD vs. INCM - Expense Ratio Comparison

MVFD has a 1.19% expense ratio, which is higher than INCM's 0.38% expense ratio.

Dividends

MVFD vs. INCM - Dividend Comparison

MVFD's dividend yield for the trailing twelve months is around 1.48%, less than INCM's 5.09% yield.

Position	TTM	2025	2024	2023
INCM Franklin Income Focus ETF	5.09%	4.96%	5.06%	3.01%
MVFD Monarch Volume Factor Dividend Tree ETF	1.48%	1.34%	1.38%	0.00%

Frequently Asked Questions

Can I hold both MVFD and INCM in my portfolio?

MVFD and INCM have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MVFD or INCM?

MVFD has higher volatility (4.14%) compared to INCM (2.42%). In terms of maximum drawdown, MVFD dropped -19.07% vs INCM's -7.84%.

Which ETF is better, MVFD or INCM?

On 1-year performance, MVFD leads with 17.53% vs 13.98% for INCM. On fees, INCM is cheaper at 0.38% per year. On volatility, INCM has been the lower-risk option at 2.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MVFD or INCM?

Over the 1-year period, MVFD has performed better with a 17.53% return vs 13.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MVFD or INCM?

INCM is cheaper with a 0.38% expense ratio, compared with 1.19% for MVFD.

Which ETF pays a higher dividend yield, MVFD or INCM?

INCM has the higher dividend yield at 5.09%, compared with 1.48% for MVFD.

What is the main difference between MVFD and INCM?

They also come from different issuers: Monarch and Franklin Templeton. Their fees differ too: 1.19% for MVFD and 0.38% for INCM.

Which has better risk-adjusted returns?

INCM currently has the higher Sharpe Ratio (2.54 vs 1.15), 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.