^XII vs. INDL

Last updated Apr 1, 2026

Compare and contrast key facts about NYSE Arca Institutional Index (^XII) and Direxion Daily India Bull 3x Shares (INDL).

INDL is a passively managed fund by Direxion that tracks the performance of the Indus India Index (300%). It was launched on Mar 11, 2010.

Performance

^XII vs. INDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NYSE Arca Institutional Index (^XII) and Direxion Daily India Bull 3x Shares (INDL). The values are adjusted to include any dividend payments, if applicable.

^XII vs. INDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^XII NYSE Arca Institutional Index	-6.42%	18.55%	31.39%	31.30%	-24.53%	23.73%	24.60%	31.40%	-4.23%	21.47%
INDL Direxion Daily India Bull 3x Shares	-26.77%	-3.21%	7.56%	26.06%	-22.88%	40.26%	-36.43%	3.15%	-34.29%	127.98%

Returns By Period

In the year-to-date period, ^XII achieves a -6.42% return, which is significantly higher than INDL's -26.77% return. Over the past 10 years, ^XII has outperformed INDL with an annualized return of 13.82%, while INDL has yielded a comparatively lower -0.48% annualized return.

^XII

• 1D: 3.49%
• 1M: -4.59%
• YTD: -6.42%
• 6M: -4.02%
• 1Y: 19.09%
• 3Y*: 20.34%
• 5Y*: 11.46%
• 10Y*: 13.82%

INDL

• 1D: 6.13%
• 1M: -20.83%
• YTD: -26.77%
• 6M: -22.61%
• 1Y: -24.28%
• 3Y*: 3.37%
• 5Y*: -0.98%
• 10Y*: -0.48%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

^XII vs. INDL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

^XII

^XII Risk / Return Rank: 69
^XII Sharpe Ratio Rank: 65
^XII Sortino Ratio Rank: 68
^XII Omega Ratio Rank: 69
^XII Calmar Ratio Rank: 70
^XII Martin Ratio Rank: 73

INDL

INDL Risk / Return Rank: 2
INDL Sharpe Ratio Rank: 1
INDL Sortino Ratio Rank: 2
INDL Omega Ratio Rank: 2
INDL Calmar Ratio Rank: 2
INDL Martin Ratio Rank: 1

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

^XII vs. INDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NYSE Arca Institutional Index (^XII) and Direxion Daily India Bull 3x Shares (INDL). 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.

	^XII	INDL	Difference
Sharpe ratio Return per unit of total volatility	0.95	-0.79	+1.74
Sortino ratio Return per unit of downside risk	1.47	-1.03	+2.51
Omega ratio Gain probability vs. loss probability	1.22	0.88	+0.34
Calmar ratio Return relative to maximum drawdown	1.60	-0.63	+2.23
Martin ratio Return relative to average drawdown	6.19	-1.86	+8.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^XII vs. INDL - Sharpe Ratio Comparison

The current ^XII Sharpe Ratio is 0.95, which is higher than the INDL Sharpe Ratio of -0.79. The chart below compares the historical Sharpe Ratios of ^XII and INDL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	^XII	INDL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.95	-0.79	+1.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	-0.03	+0.65
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	-0.01	+0.74
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	-0.12	+0.59

Correlation

The correlation between ^XII and INDL is 0.53, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Drawdowns

^XII vs. INDL - Drawdown Comparison

The maximum ^XII drawdown since its inception was -64.23%, smaller than the maximum INDL drawdown of -95.67%. Use the drawdown chart below to compare losses from any high point for ^XII and INDL.

Drawdown Indicators

	^XII	INDL	Difference
Max Drawdown Largest peak-to-trough decline	-64.23%	-95.67%	+31.44%
Max Drawdown (1Y) Largest decline over 1 year	-12.25%	-37.82%	+25.57%
Max Drawdown (5Y) Largest decline over 5 years	-28.97%	-47.64%	+18.67%
Max Drawdown (10Y) Largest decline over 10 years	-30.08%	-91.96%	+61.88%
Current Drawdown Current decline from peak	-8.28%	-79.39%	+71.11%
Average Drawdown Average peak-to-trough decline	-16.27%	-66.23%	+49.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.17%	12.77%	-9.60%

Volatility

^XII vs. INDL - Volatility Comparison

The current volatility for NYSE Arca Institutional Index (^XII) is 6.19%, while Direxion Daily India Bull 3x Shares (INDL) has a volatility of 14.09%. This indicates that ^XII experiences smaller price fluctuations and is considered to be less risky than INDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^XII	INDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.19%	14.09%	-7.90%
Volatility (6M) Calculated over the trailing 6-month period	11.10%	22.06%	-10.96%
Volatility (1Y) Calculated over the trailing 1-year period	20.16%	30.96%	-10.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.54%	30.55%	-12.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.95%	53.02%	-34.07%