DVAL vs INCE
BrandywineGLOBAL-Dynamic US Large Cap Value ETF vs Franklin Income Equity Focus ETF
Which is better, DVAL or INCE?
INCE has been ahead.
INCE has a lower expense ratio. INCE led over 1Y, 3Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | DVAL | INCE |
|---|---|---|
| Expense Ratio | 0.49% | 0.29%Best |
| AUM | $61M | $358M |
| Dividend Yield | 1.83% | 5.09% |
| Holdings | 199 | 114 |
| YTD Return | +10.61% | +13.36%Best |
| 1Y Return | +14.02% | +18.93%Best |
| 3Y Return (annualized) | +14.06% | +16.69%Best |
| 5Y Return (annualized) | - | +10.59% |
| Volatility (annualized) | 12.8% | 10.8%Best |
| Max Drawdown | -15.9% | -14.0%Best |
| $10,000 over 4 years | $15,584 | $17,152Best |
| Fund Family | Franklin Templeton Investments (US) | Franklin Templeton Investments (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Dec 27, 2006 | Sep 20, 2016 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 4 years row, are measured over the window both funds cover: Oct 31, 2022 to Oct 14, 2026 (4 years).
DVAL vs INCE growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 4 years both funds cover.
DVAL vs INCE Performance
BrandywineGLOBAL-Dynamic US Large Cap Value ETF (DVAL) is an ETF from Franklin Templeton Investments (US) and Franklin Income Equity Focus ETF (INCE) is an ETF from Franklin Templeton Investments (US). Over the past year DVAL returned +14.02% while INCE returned +18.93%. Year to date, DVAL is up 10.61% versus a gain of 13.36% for INCE.
Over three years, DVAL compounded at +14.06% per year against +16.69% for INCE. Across the full 4-year window we track, INCE has the edge at +14.44% annualized vs +11.73%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DVAL has been the more volatile fund, with annualized monthly volatility of 12.8% compared with 10.8% for INCE. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -15.9% for DVAL and -14.0% for INCE. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.86. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DVAL charges 0.49% per year while INCE charges 0.29%. On a $10,000 position that is $49 vs $29 annually, a gap of $20 per year that compounds over a long holding period. On income, DVAL currently yields 1.83% against 5.09% for INCE.
Holdings Overlap
At least 30.7% of DVAL's money is in holdings INCE also owns.
Stated as a floor: for INCE, our book for it covers 78.1% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
The two portfolios partly overlap.
13 positions in common, counted across the 98 positions we hold weights for in DVAL and 76 in INCE, against full books of 199 and 114.
Top Shared Holdings
| Stock | Weight in DVAL | Weight in INCE | Difference |
|---|---|---|---|
| CSCOCisco Systems Inc. - Ordinary Shares | 4.29% | 2.04% | 2.25% |
| VZVerizon Communic | 3.04% | 2.42% | 0.62% |
| BACBank of America Corp.: Financials | 3.98% | 1.03% | 2.95% |
| UPSUnited Parcel Service, Inc | 3.69% | 0.96% | 2.73% |
| WFCWells Fargo & Co. | 3.85% | 0.75% | 3.10% |
| PGProcter & Gamble Company | 1.90% | 2.52% | 0.62% |
| MSFTMicrosoft Corp | 2.56% | 0.86% | 1.70% |
| USBUS Bancorp | 1.46% | 1.94% | 0.48% |
| HONHoneywell International Inc | 2.41% | 0.52% | 1.89% |
| TFCTruist Financial Corp. | 1.80% | 0.73% | 1.07% |
30.7% of DVAL is already inside INCE.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DVAL or INCE?
DVAL has an expense ratio of 0.49% while INCE charges 0.29%. INCE is the cheaper option, by $20 a year on a $10,000 investment.
Which performed better, DVAL or INCE?
Over the past year DVAL returned +14.02% vs +18.93% for INCE, so INCE leads on 1-year performance. Over the longest common window we track (4 years), DVAL annualized +11.73% vs +14.44% for INCE. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DVAL or INCE?
DVAL has been the more volatile fund at 12.8% annualized versus 10.8% for INCE. Worst drawdown: DVAL -15.9% vs INCE -14.0%.
Should I hold both DVAL and INCE?
DVAL and INCE have a monthly-return correlation of 0.86, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between DVAL and INCE?
At least 30.7% of DVAL's money is in holdings INCE also owns. Our book for INCE is partial, so the real figure is this or higher. They hold 13 positions in common, counted across the 98 positions we hold weights for in DVAL and 76 in INCE.
Which pays a higher dividend, DVAL or INCE?
DVAL yields 1.83% while INCE yields 5.09%, so INCE currently pays the higher dividend yield.
Is INCE better than DVAL?
INCE has a lower expense ratio. INCE led over 1Y, 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.