INCE vs PPI

INCEAFranklin Income Equity Focus ETF

PPICAstoria Real Assets 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.

PPI Most allocation ETFs split stocks and bonds. PPI swaps the bond side for hard assets: an actively run basket of energy, materials, industrials, utilities and REITs, aiming at growth measured after inflation. Trading since December 2021.

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.

PPI The Fund seeks long-term capital appreciation in inflation-adjusted terms and normally invests at least 80% of net assets in investments with significant exposure to real assets.

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.

• PPI One ticker, one job: at least 80% of net assets in real-asset investments. A company counts only if half its revenue, profits or assets sit in physical things.sec.gov
• Actively run, not an index sleeve. Astoria builds the equity book around roughly 50 to 60 issuers using growth, momentum, quality and value screens.streetinsider.com
• Real assets here stretch past commodity miners and drillers to global REITs and inflation-linked Treasuries, so the hedge is not one trade in a trench coat.streetinsider.com
• 0.57% all-in, with no fee waiver doing the work, which lands near the median for its allocation peer group. Distributions land quarterly.

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.

• PPI Non-diversified by charter, and the book clusters in energy, materials, industrials, utilities and real estate, so it moves with commodity and resource cycles.sec.govstreetinsider.com
• Thinly traded next to the giants in its category, so limit orders and a glance at the spread earn their keep.
• Index stock-and-bond allocation funds like AOA and IRTR sit below it on cost. The active real-assets mandate is what the gap buys.

Full INCE profile⁠

Full PPI profile⁠