^BSE500 vs. INDA
^BSE500 (S&P BSE-500) is an index, while INDA (iShares MSCI India ETF) is Asia Pacific Equities fund tracking the MSCI India Index. Over the past 10 years, ^BSE500 returned 12.53%/yr vs 11.20%/yr for INDA. A 0.64 correlation means they provide meaningful diversification when combined.
Performance
^BSE500 vs. INDA - Performance Comparison
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Different Trading Currencies
^BSE500 is traded in INR, while INDA is traded in USD. To make them comparable, the INDA values have been converted to INR using the latest available exchange rates.
Returns By Period
In the year-to-date period, ^BSE500 achieves a -6.06% return, which is significantly lower than INDA's -2.67% return. Over the past 10 years, ^BSE500 has outperformed INDA with an annualized return of 12.53%, while INDA has yielded a comparatively lower 11.20% annualized return.
^BSE500
- 1D
- 0.19%
- 1M
- -0.67%
- YTD
- -6.06%
- 6M
- -5.30%
- 1Y
- -2.72%
- 3Y*
- 11.76%
- 5Y*
- 10.53%
- 10Y*
- 12.53%
INDA
- 1D
- 1.05%
- 1M
- 2.07%
- YTD
- -2.67%
- 6M
- -2.63%
- 1Y
- 1.29%
- 3Y*
- 10.92%
- 5Y*
- 9.03%
- 10Y*
- 11.20%
^BSE500 vs. INDA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^BSE500 S&P BSE-500 | -6.06% | 6.41% | 14.55% | 24.85% | 3.34% | 30.11% | 16.80% | 7.75% | -3.08% | 35.94% |
INDA iShares MSCI India ETF | -2.67% | 7.59% | 11.92% | 17.97% | 0.84% | 23.77% | 17.72% | 9.19% | 1.78% | 27.62% |
Correlation
The correlation between ^BSE500 and INDA is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2012 | 0.64 |
The correlation between ^BSE500 and INDA shifts across timeframes, from 0.50 (1 year) to 0.65 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
^BSE500 vs. INDA — Risk / Return Rank
^BSE500
INDA
^BSE500 vs. INDA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for S&P BSE-500 (^BSE500) and iShares MSCI India ETF (INDA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ^BSE500 | INDA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.03 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.12 | 0.10 | -0.22 |
| Martin ratioReturn relative to average drawdown | -0.38 | 0.30 | -0.68 |
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Drawdowns
^BSE500 vs. INDA - Drawdown Comparison
The maximum ^BSE500 drawdown since its inception was -38.39%, roughly equal to the maximum INDA drawdown of -38.19%. Use the drawdown chart below to compare losses from any high point for ^BSE500 and INDA.
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Drawdown Indicators
| ^BSE500 | INDA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.39% | -38.19% | -0.20% |
Max Drawdown (1Y)Largest decline over 1 year | -14.86% | -12.72% | -2.14% |
Max Drawdown (3Y)Largest decline over 3 years | -18.96% | -14.98% | -3.98% |
Max Drawdown (5Y)Largest decline over 5 years | -18.96% | -15.59% | -3.37% |
Max Drawdown (10Y)Largest decline over 10 years | -38.39% | -38.19% | -0.20% |
Current DrawdownCurrent decline from peak | -8.92% | -3.84% | -5.08% |
Average DrawdownAverage peak-to-trough decline | -5.95% | -5.09% | -0.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.53% | 4.39% | +0.14% |
Volatility
^BSE500 vs. INDA - Volatility Comparison
The current volatility for S&P BSE-500 (^BSE500) is 4.00%, while iShares MSCI India ETF (INDA) has a volatility of 4.48%. This indicates that ^BSE500 experiences smaller price fluctuations and is considered to be less risky than INDA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^BSE500 | INDA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.00% | 4.48% | -0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 12.17% | 11.11% | +1.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.77% | 12.53% | +1.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.33% | 13.40% | +0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.19% | 18.52% | -2.33% |
Frequently Asked Questions
^BSE500 and INDA have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INDA has higher volatility (4.48%) compared to ^BSE500 (4.00%). In terms of maximum drawdown, ^BSE500 dropped -38.39% vs INDA's -38.19%.
INDA currently has the higher Sharpe Ratio (0.10 vs -0.13), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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