INCM vs LOTI: Grades, Fees and Holdings Compared

Franklin Income Focus ETF

INCMANYSE Arca

Liberty One Tactical Income ETF

LOTIBNasdaq

Overlap

5.4%by weight

Expense ratio

INCM −0.63pt a year

INCM0.38%LOTI1.01%

Avg volume · 30D

INCM 75.2×the volume

INCM418KLOTI5.55K

INCM vs LOTI Performance

Oct 31, 2025 – Nov 2, 2026

+11.0%INCM+8.1%LOTI

Expense ratio: INCM 0.38%, better; LOTI 1.01%
Fund size: INCM $2.03B; LOTI $50M
1Y total return: INCM +11.0%, better; LOTI +8.1%
Yield (12M): INCM 5.26%; LOTI No data
Holdings: INCM 395; LOTI 35
Avg volume (30D): INCM 418K sh, better; LOTI 5.55K sh
NAV per share: INCM $29.10; LOTI $26.52
52W range

ETF.net Grade

Pillar letters and Scores for INCM, LOTI, with each pillar’s weight
Pillar	INCM	LOTI
Cost30% weight	A93Higher	D29
Mission25% weight	Not scored	A90
Risk15% weight	A82Higher	B65
Tradability15% weight	B66Higher	C44
Holdings10% weight	Not scored	A73
Durability5% weight	A77Higher	F21

Rank among Multi-Asset Income funds

How we build Categories ›

Same Category. INCM and LOTI are both graded against the same 15 Multi-Asset Income funds, so their Grades compare head to head.

Multi-Asset Income⁠

Category · 15 funds

See all 15 ›

INCM ranks 1st and LOTI 7th of 15 funds in the Multi-Asset Income Category.

Rank 1AINCMFranklin Income Focus ETFScore 82
Rank 2AIYLDiShares Morningstar Multi-Asset Income ETFScore 79
Rank 5BHNDLStrategy Shares Nasdaq 7HANDL Index ETFScore 57
Rank 7BLOTILiberty One Tactical Income ETFScore 55
Rank 8CCVYInvesco Zacks Multi-Asset Income ETFScore 52

Our read on each fund

ETF.net Research

INCMAFranklin Income Focus ETF

LOTIBLiberty One Tactical Income ETF

In short

INCM A go-anywhere income hunt in ETF form: Franklin's managers roam across asset classes chasing current income, hold roughly 400 positions, charge 0.38%, and pay out monthly.

LOTI Most multi-asset income funds pick an allocation and sit still. LOTI hands the dial to an active manager who shifts between dividend-paying stocks and bond funds as conditions change, and pays out monthly.

Stated mandate

INCM The fund seeks a high level of current income, with long-term capital appreciation as a secondary objective.

LOTI The Fund seeks current income and the opportunity for capital appreciation to produce a total return.

Why people hold it

INCM Charges 0.38%, well under the typical fund in its multi-asset allocation group. More of the income stays with shareholders.
Distributes monthly, matching the rhythm of actual bills. Current income is the stated primary objective, with capital appreciation secondary.
Spreads the income job across roughly 400 positions instead of leaning on a short list of high yielders.
Trades smoothly for a multi-billion-dollar fund, and rates as one of the stronger implementations in its allocation peer group.

LOTI Actively managed rather than index-bound: the adviser moves the mix between equity and fixed income as markets shift, generally targeting 35% to 65% in each sleeve.yahoo.com
One ticket covers both halves of a balanced build: dividend-paying equities on one side, bond ETFs for ballast on the other.
Income lands monthly, and the portfolio tracks the balanced multi-asset income mandate it advertises closely.

Worth knowing

INCM Actively managed with no declared index, so the asset mix and the payout reflect manager judgment rather than a published rulebook you can check against.
The mandate targets a high level of current income, not a fixed dollar amount, so the monthly distribution moves with markets.
Index-based allocation peers such as AOA and IRTR carry lower expense ratios. Here the fee buys active security selection instead of a set glide path.

LOTI Active management carries a price: 1.01% net of a waiver through December 1, 2026 (1.04% gross), above the category median and above INCM at 0.38% or IYLD at 0.50%.
Launched in 2025, small and thinly traded, so spreads can run wider than the category's long-established names.
No index sets the mix here. Allocation, credit quality and duration are the adviser's judgment calls, with a short track record to read them by.yahoo.com

Full INCM profile⁠

Full LOTI profile⁠

INCM vs LOTI Holdings

How INCM and LOTI differ

Overlap by weight

5.4%

Shared holdings make up 14.7% of LOTI and 5.5% of INCM.

Level by level

Holdings7 in both5.4%
Countryby domicile86.9%

Sector

No Sector split for LOTI.

Country, concentration and asset class

Country by domicile

Country weights in INCM and LOTI, widest gap first
Country	More in INCMMore in LOTI	INCM	LOTI
United States	LOTI +12.1 points	83.7%	95.8%
United Kingdom	INCM +7.1 points	7.3%	0.2%
Netherlands	INCM +1.5 points	1.6%	0.1%
Ireland	INCM +1.4 points	1.5%	0.1%
Germany	INCM +1.4 points	1.4%	0.0%
France	INCM +0.7 points	0.8%	0.1%
Luxembourg	INCM +0.6 points	0.6%	0.0%
Other countries (26)	LOTI +0.8 points	3.0%	3.8%

Concentration

Weight in the 10 largest Holdings

INCM17.0%
LOTI51.5%

Securities held

INCM391
LOTI34

Asset class

INCM: Multi-Asset
LOTI: Multi-Asset

Holdings

Only in INCM384
In both7
Only in LOTI27

Only in INCM

384 securities, 90.4% of INCM by weight

Exxonmobil Holdings Corp1.73%
Chevron Corp1.59%
Us Treasury N/ 4.625 8/361.54%
Home Depot Inc1.45%
Shell Plc-Adr1.20%
Pepsico Inc1.20%
Us Treasury N/ 5.125 8/561.10%
Roche Holdings Ltd-Spons1.10%
Unilever PLC0.96%
Bnp Paribas Iss Eln 9/270.92%
Air Products & Chemicals0.91%
Mizuho Markets Eln 09/270.89%
Bank of America Corp0.89%
Philip Morris Internation0.82%
JPMorgan Chase 0 1/270.79%
Ubs AG 8 4/270.78%
Ubs AG London 8 7/270.78%
Chs/Community 9.75 1/340.76%
Abbv Eln 12/11/20260.75%
Lyondellbasell Indu-Cl A0.71%
Us Treasury N/B 3.5 2/310.70%
Conocophillips0.69%
Oracle Corp0.68%
Lockheed Martin Corp0.67%
Target Corp0.67%
Amazon.com Inc 6.1 7/560.66%
Alphabet Inc 5.45 8/360.65%
Mizuho Mark Eln 9/270.64%
Wells Fargo Bank 8 3/270.63%
Albemarle Corp0.62%
Morgan Stan Fin 0 3/270.62%
Pfizer Inc0.60%
Siemens Ag-Reg0.57%
Toronto-Domini Eln 09/270.57%
Texas Instruments Inc0.56%
Ubs AG 7.5 12/260.56%
Us Bancorp0.54%
Us Treasury N/B 5 5/560.54%
Ares Management Corp0.53%
Skydance Corp 8.25 10/310.53%
Astrazeneca PLC0.52%
United Parcel Service-Cl0.52%
Amazon.com Inc 5.3 7/360.52%
Morgan Stanley0.51%
Goldman Sachs 5.065 1/370.50%
Kkr & Co Inc0.50%
Oracle Corp 5.7 2/360.50%
Citigroup Globa Eln 02/280.49%
Space Explorat 5.875 7/360.48%
Microsoft Corp 2.525 6/500.46%

Only in LOTI

27 securities, 85.3% of LOTI by weight

JPMorgan Income ETF USD Class7.37%
Eaton Vance Short Duration Income ETF USD Class6.44%
TCW Flexible Income ETF USD Class6.35%
PIMCO Multisector Bond Active ETF6.33%
Vanguard Mortgage-Backed Securities ETF5.52%
iShares Core U.S. Aggregate Bond ETF5.45%
Vanguard Long-Term Corporate Bond ETF USD Class4.29%
Eli Lilly & Company3.74%
Cardinal Health, Inc.3.12%
Gilead Sciences, Inc.2.90%
Hartford Strategic Income ETF USD Class2.70%
Coca-Cola Company (The)2.70%
Chubb Ltd.2.47%
Entergy Corporation2.24%
Visa, Inc.2.19%
WW Grainger, Inc.2.13%
Alliant Energy Corporation2.05%
Motorola Solutions, Inc.2.04%
Waste Management, Inc.2.02%
Republic Services, Inc.2.02%
Kroger Company (The)1.91%
Broadcom, Inc.1.89%
Northrop Grumman Corporation1.85%
Agree Realty Corporation1.80%
Alphabet, Inc.1.65%
AT&T, Inc.1.44%
First American Treasury Obligations Fund Class X0.71%

Weight gaps

All 7 Holdings in both funds, largest gap first.

Holding weights in INCM and LOTI, widest gap first
Holding	More in INCMMore in LOTI	INCM	LOTI
Johnson & JohnsonJNJ	LOTI +2.36 points	0.53%	2.89%
UnitedHealth Group IncUNH	LOTI +2.14 points	0.16%	2.30%
Microsoft CorpMSFT	LOTI +1.75 points	0.22%	1.97%
Mcdonald's CorpMCD	LOTI +1.42 points	0.23%	1.65%
Southern Co/TheSO	LOTI +0.84 points	1.07%	1.91%
Duke Energy CorpDUK	LOTI +0.77 points	1.20%	1.97%
Procter & Gamble Co/ThePG	INCM +0.07 points	2.08%	2.01%

All 404 INCM holdings⁠All LOTI holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

INCM vs LOTI Cost

Overpaying LOTI vs INCM

$11,144

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

INCM 0.38%
$7,706
LOTI 1.01%
$18,850

Amount$10,000

Years30 years

Cost over time

INCM 0.38%
LOTI 1.01%
Overpaying

Year by year

Year	INCM	LOTI	Overpaying
10	$688	$1,780	$1,092
20	$2,658	$6,686	$4,028
30	$7,706	$18,850	$11,144

Expense ratio

0.38%INCM, cheaper
1.01%LOTI

INCM0.38%LOTI1.01%

0.15%1.37%

Middle half of Multi-Asset Income funds
Median 0.71%

INCM 2nd cheapest of 15 funds

LOTI 11th cheapest of 15 funds

INCM vs LOTI Dividends

Last 12 months to Nov 2, 2026

Yield (12M): INCM 5.26%; LOTI No data
Payout (12M): INCM $1.53; LOTI No data
Last payment: INCM $0.13; LOTI $0.05
Ex-dividend: INCM Oct 30, 2026; LOTI Oct 16, 2026
Paid on: INCM Pays Nov 4, 2026; LOTI Oct 21, 2026
Frequency: INCM Monthly; LOTI Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

INCMMonthly · 42 paymentsAll INCM payments⁠

LOTIMonthly · 12 paymentsAll LOTI payments⁠

INCM vs LOTI Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: INCM 7.2%LOTI 8.4%since Oct 2025
Return per unit of riskSharpe ratio, 3 years: INCM 1.19LOTI 0.41since Oct 2025
Worst fallMax drawdown, 5 years: INCM −7.8%since Jun 2023LOTI −4.4%since Sep 2025
Market sensitivityBeta, 5 years: INCM 0.70LOTI 0.15; Market = 1

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