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ALPS/Kotak India ESG Fund (INDAX) Sharpe Ratio: -0.97

Mutual Fund · Currency in USD · Last updated Jun 3, 2026

Under normal circumstances, the fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in equity and equity-linked securities of “Indian companies.” Equity securities in which the fund can invest may include common stocks, preferred stocks, convertible securities, rights and warrants to buy common stocks. The Advisor intends to invest in companies of all capitalization sizes.

INDAX's Sharpe Ratio of -0.97 indicates that for each unit of volatility, it generates -0.97 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jun 3, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets.

INDAX Sharpe Ratio Rank

INDAX Sharpe Ratio Rank: 0.61
Concerning

INDAX ranks above 0.6% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating weak returns relative to total risk taken. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Weak risk-adjusted returns relative to category peers
  • Evaluate whether this holding aligns with your risk-return objectives
  • Consider reducing exposure or re-evaluating position size
  • Review higher-ranked alternatives in the same category

INDAX Sharpe Ratio Market Positioning

The chart shows INDAX's Sharpe Ratio relative to all mutual funds on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 1.42 or lower
  • Yellow zone (middle 50%): 1.42 to 2.51
  • Green zone (top 25%): 2.51 or higher
  • Top 1%: 4.64+
  • Median: 2.09 — half of all investments score higher

How it compares to other similar mutual funds

The table compares ALPS/Kotak India ESG Fund's Sharpe Ratio with other mutual funds in the Asia Pacific Equities category across multiple time periods, showing how INDAX's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jun 3, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
MATFXMatthews Asia Innovators Fund4.82
MGSEXAMG Veritas Asia Pacific Fund4.19
FIQPXFidelity Advisor Emerging Asia Fund Class Z3.82
FERIXFidelity Advisor Emerging Asia Fund Class I3.81
FSEAXFidelity Emerging Asia Fund3.80
FEAAXFidelity Advisor Emerging Asia Fund Class A3.78
FEATXFidelity Advisor Emerging Asia Fund Class M3.76
FERCXFidelity Advisor Emerging Asia Fund Class C3.72
MAPTXMatthews Pacific Tiger Fund3.71
MASGXMatthews Asia ESG Fund3.37
INDAXALPS/Kotak India ESG Fund-0.97

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows INDAX's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when INDAX consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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Sharpe Ratio Calculator

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