INCE vs VOO
Franklin Income Equity Focus ETF vs Vanguard S&P 500 ETF
Which is better, INCE or VOO?
Large Cap Value against Large Cap Blend.
VOO has a lower expense ratio. INCE led over 1Y, VOO over 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.91.
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 | INCE | VOO |
|---|---|---|
| Expense Ratio | 0.29% | 0.03%Best |
| AUM | $321M | $1.0T |
| Dividend Yield | 4.85% | 1.04% |
| Holdings | 114 | 506 |
| YTD Return | +11.34% | +12.75%Best |
| 1Y Return | +16.31%Best | +15.60% |
| 3Y Return (annualized) | +16.76% | +22.95%Best |
| 5Y Return (annualized) | +10.52% | +13.55%Best |
| Volatility (annualized) | 13.8%Best | 15.3% |
| Max Drawdown | -34.1%Best | -34.3% |
| $10,000 over 5 years | $16,489 | $18,877Best |
| Fund Family | Franklin Templeton Investments (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Blend |
| Inception | Sep 20, 2016 | Sep 7, 2010 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Sep 22, 2016 to Oct 1, 2026 (10 years).
INCE vs VOO 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 10 years both funds cover.
INCE vs VOO Performance
Franklin Income Equity Focus ETF (INCE) is an ETF from Franklin Templeton Investments (US) and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year INCE returned +16.31% while VOO returned +15.60%. Year to date, INCE is up 11.34% versus a gain of 12.75% for VOO.
Over three years, INCE compounded at +16.76% per year against +22.95% for VOO; over five years the annualized figures are +10.52% and +13.55% respectively. Across the full 10-year window we track, VOO has the edge at +14.30% annualized vs +11.88%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 15.3% 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 -34.3% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
INCE charges 0.29% per year while VOO charges 0.03%. On a $10,000 position that is $29 vs $3 annually, a gap of $26 per year that compounds over a long holding period. On income, INCE currently yields 4.85% against 1.04% for VOO.
Holdings Overlap
At least 15.8% of VOO's money is in holdings INCE also owns.
Stated as a floor: for INCE, our book for it covers 74.5% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
VOO and INCE share little of their money.
The two holdings books were reported 46 days apart, INCE as of Sep 15, 2026 and VOO as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
50 positions in common, counted across the 68 positions we hold weights for in INCE and 494 in VOO, against full books of 114 and 506.
Top Shared Holdings
| Stock | Weight in INCE | Weight in VOO | Difference |
|---|---|---|---|
| CVXChevron Corp | 3.54% | 0.57% | 2.97% |
| JPMJpmorgan Chase | 1.84% | 1.46% | 0.38% |
| PGProcter & Gamble Company | 2.48% | 0.52% | 1.96% |
| VZVerizon Communications Inc Vz | 2.63% | 0.30% | 2.33% |
| PEPPepsico Inc. | 2.52% | 0.30% | 2.22% |
| JNJJohnson & Johnson - Common | 1.57% | 0.96% | 0.61% |
| SOSouthern Co. | 2.35% | 0.17% | 2.18% |
| HDHome Depot Inc/The | 1.90% | 0.51% | 1.39% |
| LMTLockheed Martin Corp | 2.18% | 0.18% | 2.00% |
| KOCoca Cola Co. | 1.58% | 0.53% | 1.05% |
You are not choosing between two funds in isolation.
Whichever of INCE and VOO 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, INCE or VOO?
INCE has an expense ratio of 0.29% while VOO charges 0.03%. VOO is the cheaper option, by $26 a year on a $10,000 investment.
Which performed better, INCE or VOO?
Over the past year INCE returned +16.31% vs +15.60% for VOO, so INCE leads on 1-year performance. Over the longest common window we track (10 years), INCE annualized +11.88% vs +14.30% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, INCE or VOO?
VOO has been the more volatile fund at 15.3% annualized versus 13.8% for INCE. Worst drawdown: INCE -34.1% vs VOO -34.3%.
Should I hold both INCE and VOO?
INCE and VOO have a monthly-return correlation of 0.91, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between INCE and VOO?
At least 15.8% of VOO's money is in holdings INCE also owns. Our book for INCE is partial, so the real figure is this or higher. They hold 50 positions in common, counted across the 68 positions we hold weights for in INCE and 494 in VOO.
Which pays a higher dividend, INCE or VOO?
INCE yields 4.85% while VOO yields 1.04%, so INCE currently pays the higher dividend yield.
Is VOO better than INCE?
VOO has a lower expense ratio. INCE led over 1Y, VOO over 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.91. Which one suits a particular account depends on what it is for. This is information, not a recommendation.