ETF Evaluator:
Franklin Income Equity Focus ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Large Value Over the Last Year
| 72.4% | iShares MSCI USA Value Factor ETF (VLUE) |
| 39.0% | SEI QiM U.S. Lrg Cap Value Actv ETF (SEIV) |
| 34.8% | LSV Disciplined Value ETF (LSVD) |
| 34.7% | iShares Core Dividend ETF (DIVB) |
| 34.4% | Avantis US Large Cap Value ETF (AVLV) |
Risk
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Risk
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ETF Details
Franklin Income Equity Focus ETF Overview
Franklin Income Equity Focus ETF (INCE) is an actively managed U.S. Equity Large Value exchange-traded fund (ETF). Franklin Templeton Investments launched the ETF in 2016.
The investment seeks income and capital appreciation with an emphasis on lower volatility.
Under normal market conditions, the fund will invest at least 80% of its net assets in equity securities, and in derivatives and other instruments that have economic characteristics and provide investment exposure similar to equity securities.
About Franklin Income Equity Focus ETF (INCE)
There are 3 members of the management team with an average tenure of 4.74 years: Todd Brighton (2016), Brendan Circle (2024) and Edward Perks (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and S&P 500 (TR) (1970) index with a weighting of 100%. Franklin Income Equity Focus ETF has 101 securities in its portfolio. The top 10 holdings constitute 23.0% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Franklin Income Equity Focus ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Franklin Income Equity Focus ETF has 4.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 59.1% There is 3.7% allocated to foreign stock, and 22.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 8.4% (7.5% domestic bond, 0.9% foreign bond and 0.0% convertible bond). Franklin Income Equity Focus ETF has 6.9% of the portfolio in cash.
Assets Under Management
The fund has $135 million in total assets, which is below the $5 billion average for the Large Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
INCE Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Franklin Income Equity Focus ETF expense ratio is below average compared to funds in the Large Value category. Franklin Income Equity Focus ETF has an expense ratio of 0.29%, which is 22% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Franklin Income Equity Focus ETF has a portfolio turnover rate of 69%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 40% for the Large Value category.
Recently, in the month of July 2026, Franklin Income Equity Focus ETF returned 2.5%, which earned it a grade of C, as the Large Value category had an average return of 2.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Franklin Income Equity Focus ETF has a trailing yield of 4.86%, which is above the 1.70% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Franklin Income Equity Focus ETF Grades
Year to date, the ETF has returned 14.7%, 0.3 percentage points better than the category, which translates into a grade of C. The fund has returned 25.0% over the past year (grade of C), 15.3% over the past three years (grade of D) and 10.4% per year over the past five years (grade of D).
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INCE Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| INCE Return (NAV) | 2.5% | 2.9% | 25.0% | 15.3% | 10.4% | na |
| INCE Return (Price) | 2.6% | 3.0% | 25.5% | 15.4% | 10.5% | na |
| NAV +/- Price Return | -0.026% | -0.105% | -0.550% | -0.111% | -0.050% | na |
| Large Value Avg | 2.4% | 5.9% | 24.1% | 16.3% | 11.3% | 12.1% |
| INCE Grade (NAV) | C | F | C | D | D | na |
| +/- Category (NAV) | 0.2% | -3.0% | 0.9% | -1.0% | -0.9% | na |
| INCE Tax-Cost Ratio | na | na | 2.1% | 1.7% | 1.2% | na |
INCE Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| INCE Return (NAV) | 14.7% | 15.4% | 11.0% | 13.9% | -8.5% | 23.3% | 12.5% | 32.0% | -0.4% | 19.8% | na |
| INCE Return (Price) | 14.9% | 15.9% | 10.7% | 13.9% | -8.5% | 23.4% | 12.4% | 32.7% | -1.0% | 19.6% | na |
| NAV +/- Price Ret | 0.014% | 0.032% | -0.028% | -0.000% | 0.008% | 0.002% | -0.008% | 2.1% | 143.0% | -0.9% | na |
| Large Value Avg | 14.4% | 14.8% | 15.5% | 13.1% | -6.5% | 26.7% | 5.4% | 27.4% | -6.6% | 17.7% | 15.7% |
| INCE Grade (NAV) | C | C | F | C | D | F | A | A | A | B | na |
| +/- Category | 0.3% | 0.6% | -4.5% | 0.8% | -2.0% | -3.4% | 7.0% | 4.7% | 6.1% | 2.2% | na |
| Risk Measures | |
| Beta: | 0.59 |
| R-Squared: | 52% |
| Standard Deviation: | 10.7% |
| Category Risk Index: | 0.87 |
| Category Risk Rating: | Low |
| Total Risk Index: | 0.87 |
| Total Risk Rating: | Below Average |
| Portfolio Characteristics | |
| Yield: | 4.9% |
| Total Assets: | $ 136 Mil |
| Share Class Assets: | $ 136 Mil |
| Turnover: | 69.0% |
| Expense Ratio: | 0.29% |
| Index Fund: | No |
| Index Tracked: | Russell 3000 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 9.9 years | |||
| Average Tenure: 4.7 years | |||
| Managers (Year): Brighton Todd (2016), Circle Brendan (2024), Perks Edward (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 101 |
| % in Top 10 Holdings: | 23.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 4.6% |
Portfolio Allocation |
|
| Domestic Stock: | 59.1% |
| Foreign Stock: | 3.7% |
| Preferred Stock: | 22.0% |
| Domestic Bond: | 7.5% |
| Foreign Bond: | 0.9% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 6.9% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Franklin Templeton Investments |
| Phone Number: | 800-342-5236 |
| Website: | etf.franklintempleton.com |
| Inception Date: | September 20, 2016 |
Expenses and Fees
| Expense Ratio (%): | 0.29% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.37% |
