^NIFTY200 vs. INDA
^NIFTY200 (NIFTY 200) is an index, while INDA (iShares MSCI India ETF) is Asia Pacific Equities fund tracking the MSCI India Index. Over the past 10 years, ^NIFTY200 returned 12.16%/yr vs 10.42%/yr for INDA. A 0.64 correlation means they provide meaningful diversification when combined.
Performance
^NIFTY200 vs. INDA - Performance Comparison
Loading charts...
Different Trading Currencies
^NIFTY200 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
The year-to-date returns for both investments are quite close, with ^NIFTY200 having a -6.95% return and INDA slightly higher at -6.66%. Over the past 10 years, ^NIFTY200 has outperformed INDA with an annualized return of 12.16%, while INDA has yielded a comparatively lower 10.42% annualized return.
^NIFTY200
- 1D
- -0.39%
- 1M
- -1.91%
- YTD
- -6.95%
- 6M
- -6.38%
- 1Y
- -1.43%
- 3Y*
- 11.56%
- 5Y*
- 10.25%
- 10Y*
- 12.16%
INDA
- 1D
- -1.25%
- 1M
- -1.97%
- YTD
- -6.66%
- 6M
- -5.87%
- 1Y
- -1.95%
- 3Y*
- 9.52%
- 5Y*
- 8.01%
- 10Y*
- 10.42%
^NIFTY200 vs. INDA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^NIFTY200 NIFTY 200 | -6.95% | 8.40% | 13.63% | 23.49% | 3.65% | 27.47% | 15.62% | 8.68% | -1.01% | 33.43% |
INDA iShares MSCI India ETF | -6.66% | 7.59% | 11.92% | 17.97% | 0.84% | 23.77% | 17.72% | 9.19% | 1.78% | 27.62% |
Correlation
The correlation between ^NIFTY200 and INDA is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.65 |
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 6, 2012 | 0.64 |
The correlation between ^NIFTY200 and INDA shifts across timeframes, from 0.53 (1 year) to 0.65 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
^NIFTY200 vs. INDA — Risk / Return Rank
^NIFTY200
INDA
^NIFTY200 vs. INDA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NIFTY 200 (^NIFTY200) 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.
| ^NIFTY200 | INDA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 0.98 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.10 | -0.15 | +0.06 |
| Martin ratioReturn relative to average drawdown | -0.31 | -0.47 | +0.16 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| ^NIFTY200 | INDA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.11 | -0.16 | +0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.73 | 0.60 | +0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.76 | 0.56 | +0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.55 | +0.04 |
Drawdowns
^NIFTY200 vs. INDA - Drawdown Comparison
The maximum ^NIFTY200 drawdown since its inception was -64.04%, which is greater than INDA's maximum drawdown of -38.19%. Use the drawdown chart below to compare losses from any high point for ^NIFTY200 and INDA.
Loading charts...
Drawdown Indicators
| ^NIFTY200 | INDA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.04% | -38.19% | -25.85% |
Max Drawdown (1Y)Largest decline over 1 year | -14.89% | -12.72% | -2.17% |
Max Drawdown (3Y)Largest decline over 3 years | -18.08% | -14.98% | -3.10% |
Max Drawdown (5Y)Largest decline over 5 years | -18.15% | -15.59% | -2.56% |
Max Drawdown (10Y)Largest decline over 10 years | -38.22% | -38.19% | -0.03% |
Current DrawdownCurrent decline from peak | -8.56% | -7.78% | -0.78% |
Average DrawdownAverage peak-to-trough decline | -10.96% | -5.09% | -5.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.59% | 4.15% | +0.44% |
Volatility
^NIFTY200 vs. INDA - Volatility Comparison
The current volatility for NIFTY 200 (^NIFTY200) is 4.01%, while iShares MSCI India ETF (INDA) has a volatility of 4.95%. This indicates that ^NIFTY200 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.
Loading charts...
Volatility by Period
| ^NIFTY200 | INDA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.01% | 4.95% | -0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 12.10% | 10.76% | +1.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.73% | 12.23% | +1.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.32% | 13.35% | +0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.29% | 18.51% | -2.22% |
Frequently Asked Questions
^NIFTY200 and INDA have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INDA has higher volatility (4.95%) compared to ^NIFTY200 (4.01%). In terms of maximum drawdown, ^NIFTY200 dropped -64.04% vs INDA's -38.19%.
^NIFTY200 currently has the higher Sharpe Ratio (-0.11 vs -0.16), 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.
Find the right allocation for ^NIFTY200 and INDA
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer