^NDX vs. INDA
^NDX (NASDAQ 100 Index) is an index, while INDA (iShares MSCI India ETF) is Asia Pacific Equities fund tracking the MSCI India Index. Over the past 10 years, ^NDX returned 20.95%/yr vs 7.09%/yr for INDA. At a 0.47 correlation, their price movements are largely independent.
Performance
^NDX vs. INDA - Performance Comparison
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Returns By Period
In the year-to-date period, ^NDX achieves a 17.37% return, which is significantly higher than INDA's -10.58% return. Over the past 10 years, ^NDX has outperformed INDA with an annualized return of 20.95%, while INDA has yielded a comparatively lower 7.09% annualized return.
^NDX
- 1D
- 0.64%
- 1M
- 0.19%
- YTD
- 17.37%
- 6M
- 17.62%
- 1Y
- 37.01%
- 3Y*
- 25.76%
- 5Y*
- 16.18%
- 10Y*
- 20.95%
INDA
- 1D
- 1.13%
- 1M
- -0.06%
- YTD
- -10.58%
- 6M
- -9.05%
- 1Y
- -10.57%
- 3Y*
- 4.51%
- 5Y*
- 2.79%
- 10Y*
- 7.09%
^NDX vs. INDA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^NDX NASDAQ 100 Index | 17.37% | 20.17% | 24.88% | 53.81% | -32.97% | 26.63% | 47.58% | 37.96% | -1.04% | 31.52% |
INDA iShares MSCI India ETF | -10.58% | 2.68% | 8.63% | 17.16% | -8.94% | 21.36% | 14.83% | 6.49% | -6.67% | 36.08% |
Correlation
The correlation between ^NDX and INDA is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2012 | 0.47 |
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Return for Risk
^NDX vs. INDA — Risk / Return Rank
^NDX
INDA
^NDX vs. INDA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NASDAQ 100 Index (^NDX) 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.
| ^NDX | INDA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.85 | ||
| Sortino ratioReturn per unit of downside risk | +3.78 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 0.88 | +0.48 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | -0.63 | +3.55 |
| Martin ratioReturn relative to average drawdown | 10.85 | -1.46 | +12.31 |
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Drawdowns
^NDX vs. INDA - Drawdown Comparison
The maximum ^NDX drawdown since its inception was -82.90%, which is greater than INDA's maximum drawdown of -45.07%. Use the drawdown chart below to compare losses from any high point for ^NDX and INDA.
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Drawdown Indicators
| ^NDX | INDA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.90% | -45.07% | -37.83% |
Max Drawdown (1Y)Largest decline over 1 year | -12.12% | -18.69% | +6.57% |
Max Drawdown (3Y)Largest decline over 3 years | -22.93% | -22.72% | -0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -35.56% | -22.72% | -12.84% |
Max Drawdown (10Y)Largest decline over 10 years | -35.56% | -45.07% | +9.51% |
Current DrawdownCurrent decline from peak | -3.34% | -17.77% | +14.43% |
Average DrawdownAverage peak-to-trough decline | -24.61% | -9.59% | -15.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 8.09% | -4.83% |
Volatility
^NDX vs. INDA - Volatility Comparison
NASDAQ 100 Index (^NDX) has a higher volatility of 7.51% compared to iShares MSCI India ETF (INDA) at 4.16%. This indicates that ^NDX's price experiences larger fluctuations and is considered to be riskier 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
| ^NDX | INDA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.51% | 4.16% | +3.35% |
Volatility (6M)Calculated over the trailing 6-month period | 13.84% | 12.77% | +1.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.29% | 14.79% | +2.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.76% | 15.40% | +7.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.61% | 21.11% | +1.50% |
Frequently Asked Questions
^NDX and INDA have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
^NDX has higher volatility (7.51%) compared to INDA (4.16%). In terms of maximum drawdown, ^NDX dropped -82.90% vs INDA's -45.07%.
^NDX currently has the higher Sharpe Ratio (2.05 vs -0.80), 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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