INCM vs TSPX
Franklin Income Focus ETF vs Twin Oak Active Opportunities ETF
Which is better, INCM or TSPX?
TSPX has been ahead.
INCM has a lower expense ratio. TSPX led over 1Y 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 | INCM | TSPX |
|---|---|---|
| Expense Ratio | 0.38%Best | 1.04% |
| AUM | $1.9B | $247M |
| Dividend Yield | 5.40% | 1.96% |
| Holdings | 396 | 4 |
| YTD Return | +6.40% | +10.71%Best |
| 1Y Return | +9.34% | +11.30%Best |
| 3Y Return (annualized) | +11.90% | - |
| Volatility (annualized) | 6.0%Best | 9.2% |
| Max Drawdown | -7.8%Best | -8.1% |
| $10,000 over 1.6 years | $11,624 | $12,412Best |
| Fund Family | Franklin Templeton Investments (US) | Twin Oak |
| Category | Allocation/Balanced | Allocation/Balanced |
| Style | Allocation/Balanced | Allocation/Balanced |
| Inception | Jun 6, 2023 | Feb 20, 2025 |
Not shown on this pair: 5Y Return (annualized), Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.6 years row, are measured over the window both funds cover: Feb 21, 2025 to Oct 14, 2026 (1.6 years).
INCM vs TSPX 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 1.6 years both funds cover.
INCM vs TSPX Performance
Franklin Income Focus ETF (INCM) is an ETF from Franklin Templeton Investments (US) and Twin Oak Active Opportunities ETF (TSPX) is an ETF from Twin Oak. Over the past year INCM returned +9.34% while TSPX returned +11.30%. Year to date, INCM is up 6.40% versus a gain of 10.71% for TSPX.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TSPX has been the more volatile fund, with annualized monthly volatility of 9.2% compared with 6.0% for INCM. 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 -7.8% for INCM and -8.1% for TSPX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.53. They move together some of the time, and apart the rest.
Fees and Cost Over Time
INCM charges 0.38% per year while TSPX charges 1.04%. On a $10,000 position that is $38 vs $104 annually, a gap of $66 per year that compounds over a long holding period. On income, INCM currently yields 5.40% against 1.96% for TSPX.
Holdings Overlap
We hold position weights for 266 holdings in INCM and 3 in TSPX, totalling 57.7% and 99.6% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 266 positions we hold weights for in INCM and 3 in TSPX, against full books of 396 and 4.
You are not choosing between two funds in isolation.
Whichever of INCM and TSPX you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, INCM or TSPX?
INCM has an expense ratio of 0.38% while TSPX charges 1.04%. INCM is the cheaper option, by $66 a year on a $10,000 investment.
Which performed better, INCM or TSPX?
Over the past year INCM returned +9.34% vs +11.30% for TSPX, so TSPX leads on 1-year performance. Over the longest common window we track (2 years), INCM annualized +9.86% vs +14.46% for TSPX. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, INCM or TSPX?
TSPX has been the more volatile fund at 9.2% annualized versus 6.0% for INCM. Worst drawdown: INCM -7.8% vs TSPX -8.1%.
Should I hold both INCM and TSPX?
INCM and TSPX have a monthly-return correlation of 0.53, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, INCM or TSPX?
INCM yields 5.40% while TSPX yields 1.96%, so INCM currently pays the higher dividend yield.
Is TSPX better than INCM?
INCM has a lower expense ratio. TSPX led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.