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INCE vs SPY

Comparison between FRANKLIN INCOME EQUITY FOCUS ETF (INCE, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed INCE, delivering a return of +13.0% compared to +10.3%

INCE vs SPY - Performance Comparison

Key Characteristics

Financial metrics and valuation ratios

Net Assets
INCE
$126M
Winner
SPY
$781B
Expense Ratio
INCE
0.29%
Winner
SPY
0.09%
Max Drawdown
Winner
INCE
34.12%
SPY
56.47%
Sharpe Ratio
Winner
INCE
1.81
SPY
1.25
5Y Beta
Winner
INCE
0.54
SPY
1.00
P/E Ratio
Winner
INCE
22.85
SPY
28.78
Forward P/E
Winner
INCE
18.20
SPY
21.23
PEG Ratio
INCE
0.79
SPY
N/A
5Y Dividends CAGR
Winner
INCE
37.38%
SPY
6.00%
5Y EPS CAGR
INCE
4.74%
Winner
SPY
25.62%
Debt to Equity
Winner
INCE
-53.80%
SPY
31.92%
P/S Ratio
Winner
INCE
3.06
SPY
3.76
P/B Ratio
Winner
INCE
3.92
SPY
5.64

INCE vs SPY - Holdings Comparison

INCE and SPY have 44 common holdings. Overlap is 13.73%

INCE's top 25 holdings weight is 48.87%. SPY's top 25 holdings weight is 51.74%.

RankINCESPY
#1
FRANKLIN INSTL U.S. GOVT MNY MKT FUND (INFXX) - 3.63%
NVIDIA CORP (NVDA) - 7.89%
#2
CHEVRON CORP (CVX) - 2.97%
APPLE INC (AAPL) - 7.37%
#3
PEPSICO INC (PEP) - 2.69%
MICROSOFT CORP (MSFT) - 4.50%
#4
SOUTHERN CO (SO) - 2.65%
AMAZON.COM INC (AMZN) - 3.82%
#5
PROCTER & GAMBLE CO (PG) - 2.59%
ALPHABET INC CLASS A (GOOGL) - 3.33%
#6
n/a (n/a) - 2.38%
BROADCOM INC (AVGO) - 2.86%
#7
VERIZON COMMUNICATIONS INC (VZ) - 2.25%
ALPHABET INC CLASS C (GOOG) - 2.68%
#8
LOCKHEED MARTIN CORP (LMT) - 2.25%
META PLATFORMS INC CLASS A (META) - 2.29%
#9
n/a (n/a) - 2.09%
TESLA INC (TSLA) - 1.70%
#10
TORONTO DOMINION BK PFD 821.97% (n/a) - 1.93%
MICRON TECHNOLOGY INC (MU) - 1.56%
#11
MERRILL LYNCH B V PFD (n/a) - 1.76%
JPMORGAN CHASE & CO (JPM) - 1.42%
#12
JPMORGAN CHASE & CO (JPM) - 1.75%
ELI LILLY AND CO (LLY) - 1.40%
#13
CITIGROUP GLOBAL MARKETS 8 10/28/2026 (n/a) - 1.72%
BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37%
#14
UNION PACIFIC CORP (UNP) - 1.69%
ADVANCED MICRO DEVICES INC (AMD) - 1.32%
#15
BNP PARIBAS ISSUANCE BV 10 8/28/2026 (n/a) - 1.66%
EXXONMOBIL HOLDINGS CORP (XOM) - 0.92%
#16
PHILIP MORRIS INTERNATIONAL INC (PM) - 1.64%
JOHNSON & JOHNSON (JNJ) - 0.91%
#17
MORGAN STANLEY FIN II PFD (n/a) - 1.62%
VISA INC CLASS A (V) - 0.90%
#18
AIR PRODUCTS AND CHEMICALS INC (APD) - 1.60%
WALMART INC (WMT) - 0.76%
#19
ADI 10 ELN RBC 11/16/26 (n/a) - 1.58%
INTEL CORP (INTC) - 0.75%
#20
TEXAS INSTRUMENTS INC (TXN) - 1.57%
APPLIED MATERIALS INC (AMAT) - 0.70%
#21
COCA-COLA CO (KO) - 1.52%
CISCO SYSTEMS INC (CSCO) - 0.68%
#22
NEE ELN 8.0% BNP 2/10/2027 (n/a) - 1.34%
MASTERCARD INC CLASS A (MA) - 0.66%
#23
DUKE ENERGY CORP (DUK) - 1.34%
ABBVIE INC (ABBV) - 0.66%
#24
n/a (ALB-PRA) - 1.33%
CATERPILLAR INC (CAT) - 0.65%
#25
n/a (NEE-PRS) - 1.32%
LAM RESEARCH CORP (LRCX) - 0.64%
Total Holdings95505

INCE vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
Winner
INCE
+0.93%
SPY
+0.52%
3M
INCE
+2.66%
Winner
SPY
+6.55%
6M
INCE
+7.84%
Winner
SPY
+9.76%
1Y
INCE
+20.21%
Winner
SPY
+20.32%
5Y(CAGR)
INCE
+10.34%
Winner
SPY
+13.01%
10Y(CAGR)
INCE
+12.89%
Winner
SPY
+15.06%
Max(CAGR)
Winner
INCE
+12.89%
SPY
+8.50%

INCE vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearINCESPY
2026+12.18%+10.11%
2025+15.97%+18.00%
2024+10.95%+25.59%
2023+13.81%+26.72%
2022-8.25%-18.64%
2021+24.91%+30.52%
2020+11.83%+17.28%
2019+32.52%+31.09%
2018-2.03%-5.24%
2017+19.65%+20.78%
2016+1.37%+13.59%
2015N/A+1.31%
2014N/A+14.56%
2013N/A+29.00%
2012N/A+14.17%
2011N/A+0.85%
2010N/A+13.14%
2009N/A+22.67%
2008N/A-36.25%
2007N/A+5.32%
2006N/A+13.85%
2005N/A+5.32%
2004N/A+10.75%
2003N/A+24.18%
2002N/A-22.42%
2001N/A-10.13%
2000N/A-8.84%
1999N/A+8.61%

INCE vs SPY Drawdown Comparison

The maximum drawdown for INCE was -33.95%, occurring on Mar 23, 2020. Recovery took 139 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current INCE drawdown is -1.41%. The current SPY drawdown is -1.24%.

RankINCESPY
#1-33.95%
Feb 14, 2020 - Sep 2, 2020		-55.20%
Oct 9, 2007 - Aug 16, 2012
#2-18.41%
Dec 29, 2021 - Nov 30, 2023		-47.50%
Mar 24, 2000 - Oct 26, 2006
#3-15.95%
Oct 2, 2018 - Mar 1, 2019		-33.70%
Feb 19, 2020 - Aug 10, 2020
#4-14.02%
Nov 26, 2024 - Jun 30, 2025		-24.50%
Jan 3, 2022 - Dec 13, 2023
#5-7.73%
Jan 26, 2018 - Jul 26, 2018		-19.34%
Sep 20, 2018 - Apr 12, 2019
#6-6.82%
Oct 12, 2020 - Nov 9, 2020		-18.76%
Feb 19, 2025 - Jun 26, 2025
#7-6.62%
Sep 2, 2020 - Oct 12, 2020		-13.02%
Jul 20, 2015 - Apr 18, 2016
#8-5.38%
Mar 28, 2024 - Jun 24, 2024		-10.10%
Jan 26, 2018 - Aug 6, 2018
#9-5.07%
Sep 2, 2021 - Oct 26, 2021		-9.44%
Sep 2, 2020 - Nov 11, 2020
#10-5.02%
Jul 29, 2019 - Sep 5, 2019		-9.30%
Jan 19, 2000 - Mar 17, 2000
#11-4.90%
Feb 27, 2026 - Apr 23, 2026		-9.05%
Jul 19, 2007 - Oct 5, 2007
#12-4.48%
Sep 22, 2016 - Dec 20, 2016		-8.88%
Jan 27, 2026 - Apr 14, 2026
#13-4.24%
Jan 8, 2021 - Mar 11, 2021		-8.41%
Jul 16, 2024 - Sep 19, 2024
#14-3.79%
Jul 31, 2024 - Aug 16, 2024		-7.35%
Sep 14, 2012 - Jan 2, 2013
#15-3.60%
Nov 16, 2021 - Dec 8, 2021		-7.27%
Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between INCE and SPY is 0.99 which considered as a very strong positive correlation - the stocks move almost identically together.

0.99
-101

Dividend Comparison (1999 - 2026)

INCE vs SPY dividend yield comparison.

YearINCESPY
20262.65%0.49%
20254.71%1.07%
20243.25%1.21%
20231.75%1.40%
20221.68%1.65%
20211.41%1.20%
20201.40%1.52%
20191.31%1.75%
20181.55%2.04%
20171.44%1.80%
20160.50%2.03%
20150.00%2.06%
20140.00%1.87%
20130.00%1.81%
20120.00%2.18%
20110.00%2.05%
20100.00%1.80%
20090.00%1.95%
20080.00%3.02%
20070.00%1.85%
20060.00%1.73%
20050.00%1.73%
20040.00%1.82%
20030.00%1.47%
20020.00%1.70%
20010.00%1.25%
20000.00%1.15%
19990.00%0.24%

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