INCE Fees and Costs — Franklin Income Equity Focus ETF
Data updated: 2026-08-27
The net expense ratio is 0.29%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $8K in broker commissions, 0.0079% of average net assets, and portfolio turnover was 69%.
INCE Fees and Expenses
Annual operating expenses and sales charges of INCE. Prospectus, as of March 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.29% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.29% |
| Fee waiver | — |
| Net expense ratio | 0.29% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
INCE Costs Over Time
On $10,000 invested in INCE, assuming 5% a year before costs, total costs come to $189 over 5 years, cutting the return by 0.31% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.29%) | $30 | $96 | $167 |
| Trading costs (broker commissions) | $1 | $3 | $5 |
| Lost growth on money paid in costs | $0 | $5 | $17 |
| Total costs | $31 | $103 | $189 |
| Value after costs | $10,469 | $11,473 | $12,574 |
| Impact on return, per year | 0.31% | 0.31% | 0.31% |
INCE Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending March 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0079%
- Total broker commissions: $8K
- Bought from dealers (principal trades, not a cost): $364.1M
- Portfolio turnover (prospectus): 69%
- Securities lending: none during the year
INCE Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| TD SECURITIES (USA) LLC | $2K | 20.80% |
| GOLDMAN SACHS & CO. LLC | $2K | 20.24% |
| WELLS FARGO SECURITIES, LLC | $850 | 10.92% |
| ROSENBLATT SECURITIES INC. | $844 | 10.84% |
| BOFA SECURITIES, INC. | $796 | 10.22% |
| UBS SECURITIES LLC | $586 | 7.52% |
| CitiGroup Global Markets Inc. | $551 | 7.07% |
| MORGAN STANLEY & CO. LLC | $440 | 5.65% |
| BARCLAYS CAPITAL, INC. | $290 | 3.72% |
| J.P. Morgan Securities LLC | $234 | 3.01% |
INCE Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| NOMURA SECURITIES INTERNATIONAL, INC. | $225.3M | 65.21% |
| J.P. Morgan Securities LLC | $27.1M | 7.83% |
| WELLS FARGO SECURITIES, LLC | $15.9M | 4.59% |
| BNP PARIBAS SECURITIES CORP. | $14.2M | 4.12% |
| JANE STREET CAPITAL, LLC | $14.1M | 4.09% |
| BOFA SECURITIES, INC. | $12.8M | 3.70% |
| CitiGroup Global Markets Inc. | $10.1M | 2.92% |
| RBC CAPITAL MARKETS, LLC | $9.3M | 2.68% |
| TD SECURITIES (USA) LLC | $8.5M | 2.46% |
| MIZUHO SECURITIES (USA) INC. | $8.3M | 2.39% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.