WM vs. INCE
WM (Waste Management, Inc.) is a stock, while INCE (Franklin Income Equity Focus ETF) is Dividend fund actively managed by Franklin Templeton. Over the past 5 years, WM returned 11.14%/yr vs 11.19%/yr for INCE. At a 0.48 correlation, their price movements are largely independent.
Performance
WM vs. INCE - Performance Comparison
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Returns By Period
In the year-to-date period, WM achieves a 0.71% return, which is significantly lower than INCE's 13.74% return.
WM
- 1D
- 0.30%
- 1M
- 0.26%
- YTD
- 0.71%
- 6M
- 2.63%
- 1Y
- -5.72%
- 3Y*
- 12.33%
- 5Y*
- 11.14%
- 10Y*
- 15.36%
INCE
- 1D
- 0.42%
- 1M
- 1.97%
- YTD
- 13.74%
- 6M
- 14.18%
- 1Y
- 26.22%
- 3Y*
- 16.84%
- 5Y*
- 11.19%
- 10Y*
- —
WM vs. INCE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WM Waste Management, Inc. | 0.71% | 10.50% | 14.28% | 16.20% | -4.49% | 43.82% | 5.46% | 30.45% | 5.32% | 24.46% |
INCE Franklin Income Equity Focus ETF | 13.74% | 15.92% | 10.70% | 13.87% | -8.54% | 23.36% | 12.33% | 32.72% | -2.14% | 19.66% |
Correlation
The correlation between WM and INCE is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2016 | 0.48 |
Over the past year, the correlation between WM and INCE has dropped to 0.17 - well below their long-term average of 0.48, suggesting their price drivers have been diverging.
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Return for Risk
WM vs. INCE — Risk / Return Rank
WM
INCE
WM vs. INCE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Waste Management, Inc. (WM) 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.
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.
| WM | INCE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.34 | ||
| Sortino ratioReturn per unit of downside risk | -4.70 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.55 | -0.59 |
| Calmar ratioReturn relative to maximum drawdown | -0.36 | 5.18 | -5.54 |
| Martin ratioReturn relative to average drawdown | -0.79 | 19.39 | -20.18 |
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Drawdowns
WM vs. INCE - Drawdown Comparison
The maximum WM drawdown since its inception was -77.85%, which is greater than INCE's maximum drawdown of -33.95%. Use the drawdown chart below to compare losses from any high point for WM and INCE.
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Drawdown Indicators
| WM | INCE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.85% | -33.95% | -43.90% |
Max Drawdown (1Y)Largest decline over 1 year | -16.70% | -4.90% | -11.80% |
Max Drawdown (3Y)Largest decline over 3 years | -18.14% | -14.01% | -4.13% |
Max Drawdown (5Y)Largest decline over 5 years | -18.14% | -18.40% | +0.26% |
Max Drawdown (10Y)Largest decline over 10 years | -30.07% | — | — |
Current DrawdownCurrent decline from peak | -10.24% | -0.15% | -10.09% |
Average DrawdownAverage peak-to-trough decline | -17.69% | -3.25% | -14.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.58% | 1.31% | +6.27% |
Volatility
WM vs. INCE - Volatility Comparison
Waste Management, Inc. (WM) has a higher volatility of 6.13% compared to Franklin Income Equity Focus ETF (INCE) at 2.42%. This indicates that WM's price experiences larger fluctuations and is considered to be riskier 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
| WM | INCE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.13% | 2.42% | +3.71% |
Volatility (6M)Calculated over the trailing 6-month period | 14.08% | 6.07% | +8.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.03% | 8.41% | +10.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.62% | 13.28% | +5.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.54% | 15.68% | +3.86% |
Dividends
WM vs. INCE - Dividend Comparison
WM's dividend yield for the trailing twelve months is around 1.61%, less than INCE's 4.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
INCE Franklin Income Equity Focus ETF | 4.70% | 4.71% | 3.25% | 1.75% | 1.68% | 1.41% | 1.40% | 1.31% | 1.55% | 1.44% | 0.50% | 0.00% |
WM Waste Management, Inc. | 1.61% | 1.50% | 1.49% | 1.56% | 1.66% | 1.38% | 1.85% | 1.80% | 2.09% | 1.97% | 2.31% | 2.89% |
Frequently Asked Questions
WM and INCE have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WM has higher volatility (6.13%) compared to INCE (2.42%). In terms of maximum drawdown, WM dropped -77.85% vs INCE's -33.95%.
INCE currently has the higher Sharpe Ratio (3.02 vs -0.32), 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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