INCE vs MHIG

INCEAFranklin Income Equity Focus ETF

MHIGCMilliman Healthcare Inflation Guard ETF

In short

INCE Franklin's income playbook run through stocks instead of bonds: roughly 100 equity-focused positions, monthly payouts, and an objective that targets lower volatility than the S&P 500, at a fee well under the typical allocation fund.

MHIG Most of the health care aisle bets on drug and device stocks. MHIG aims at the bill instead, seeking returns that match the U.S. healthcare cost inflation rate through a quant-selected mix of equities, debt and commodities.

Stated mandate

INCE The Fund seeks income from equity securities and related instruments while also pursuing capital appreciation and lower volatility than the S&P 500 Index.

MHIG The Fund seeks returns that generally match the U.S. healthcare cost inflation rate. It uses a combination of healthcare-related equities, debt, commodities, and other instruments selected through a proprietary quantitative model.

Why people hold it

• INCE 0.29% a year, less than half what the typical allocation fund charges.
• Income is the job, and it shows up monthly. The mandate also lets managers move across debt and equity markets rather than sit in one lane.
• The stated goal is not yield alone: income, capital appreciation, and lower volatility than the S&P 500 are all written into the objective.
• Undercuts its multi-asset sibling INCM (0.38%) on fee, and sits among the stronger names in a crowded allocation field.

• MHIG The benchmark is a rate, not a stock index: the fund seeks returns that generally match the U.S. healthcare cost inflation rate.
• Multi-asset by design: healthcare equities, debt, commodities and other instruments picked by a quantitative model, not a cap-weighted ladder of big pharma.
• A genuinely unusual mandate in a cohort where the best-regarded names (VHT, FHLC, XLV) are all cap-weighted US healthcare equity index funds.
• Standard 1940 Act ETF wrapper with a US focus, so the plumbing is conventional even though the strategy is not.

Worth knowing

• INCE Small and lightly traded next to the giants of its category, so spreads can widen. Limit orders are the norm here.
• Distributions may include return of capital, so part of a monthly payout can be your own money coming back.
• Equity-forward by design. The aim is a smoother ride than the S&P 500, not bond-like steadiness.

• MHIG At 0.55% it sits above the health care cohort median of 0.50%, and far above plain index trackers such as VHT (0.09%) and XLV (0.08%).
• Launched in 2026, so the track record is short, and the selection model is proprietary: you get the holdings, not the recipe.
• Small and thinly traded next to the aisle's heavyweights, which means spreads and execution costs carry more weight.

Full INCE profile⁠

Full MHIG profile⁠