INCE vs SOXL
Franklin Income Equity Focus ETF vs Direxion Daily Semiconductor Bull 3X ETF
Quick Verdict
INCE has a lower expense ratio. SOXL delivered stronger 1-year returns. INCE offers more diversification with 97 holdings.
Side-by-Side Comparison
| Metric | INCE | SOXL | Winner |
|---|---|---|---|
| Expense Ratio | 0.29% | 0.75% | |
| AUM | $282M | $24.3B | |
| Dividend Yield | 4.86% | 0.01% | |
| Holdings | 97 | 43 | |
| YTD Return | +16.64% | +155.29% | |
| 1Y Return | +23.49% | +375.74% | |
| 3Y Return (annualized) | +17.60% | +78.72% | |
| 5Y Return (annualized) | +10.71% | +23.06% | |
| Volatility (annualized) | 13.8% | 87.7% | |
| Max Drawdown | -34.1% | -90.5% | |
| Fund Family | Franklin Templeton Investments (US) | Direxion Shares ETF Trust | |
| Category | Equity | Alternative | |
| Inception | Sep 20, 2016 | Mar 11, 2010 |
INCE vs SOXL Performance
Franklin Income Equity Focus ETF (INCE) is a ETF from Franklin Templeton Investments (US) and Direxion Daily Semiconductor Bull 3X ETF (SOXL) is a ETF from Direxion Shares ETF Trust. Over the past year INCE returned +23.49% while SOXL returned +375.74%. Year to date, INCE is up 16.64% versus a gain of 155.29% for SOXL.
Over three years, INCE compounded at +17.60% per year against +78.72% for SOXL; over five years the annualized figures are +10.71% and +23.06% respectively. Across the full 10-year window we track, SOXL has the edge at +37.43% annualized vs +12.55%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SOXL has been the more volatile fund, with annualized monthly volatility of 87.7% compared with 13.8% 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 -34.1% for INCE and -90.5% for SOXL. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.56. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
INCE charges 0.29% per year while SOXL charges 0.75%. On a $10,000 position that is $29 vs $75 annually, a gap of $46 per year that compounds over a long holding period. On income, INCE currently yields 4.86% against 0.01% for SOXL.
Holdings Overlap
INCE and SOXL share 1 holdings out of 93 unique holdings combined, representing a 2.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in INCE | Weight in SOXL | Difference |
|---|---|---|---|
| TXN | 2.14% | 2.45% | 0.31% |
Frequently Asked Questions
Which is cheaper, INCE or SOXL?
INCE has an expense ratio of 0.29% while SOXL charges 0.75%. INCE is the cheaper option. On a $10,000 investment, that is $46 per year of difference.
Which performed better, INCE or SOXL?
Over the past year INCE returned +23.49% vs +375.74% for SOXL, so SOXL leads on 1-year performance. Over the longest common window we track (10 years), INCE annualized +12.55% vs +37.43% for SOXL. Past performance does not guarantee future results.
Which is riskier, INCE or SOXL?
SOXL has been the more volatile fund at 87.7% annualized versus 13.8% for INCE. Worst drawdown: INCE -34.1% vs SOXL -90.5%.
Should I hold both INCE and SOXL?
INCE and SOXL have a monthly-return correlation of 0.56, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between INCE and SOXL?
INCE and SOXL share 1 common holdings with a 2.1% weight overlap. Combined, they hold 93 unique securities.
Which pays a higher dividend, INCE or SOXL?
INCE yields 4.86% while SOXL yields 0.01%, so INCE currently pays the higher dividend yield.
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