ADIV vs. GIND

Last updated Jun 24, 2026

ADIV (SmartETFs Asia Pacific Dividend Builder ETF) and GIND (Goldman Sachs India Equity ETF) are both Asia Pacific Equities funds. Both are actively managed. Over the past year, ADIV returned 13.74% vs -10.21% for GIND. At a 0.48 correlation, their price movements are largely independent. ADIV charges 0.78%/yr vs 0.75%/yr for GIND.

Performance

ADIV vs. GIND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SmartETFs Asia Pacific Dividend Builder ETF (ADIV) and Goldman Sachs India Equity ETF (GIND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ADIV achieves a 5.85% return, which is significantly higher than GIND's -8.60% return.

ADIV

• 1D: -2.00%
• 1M: -0.04%
• YTD: 5.85%
• 6M: 5.74%
• 1Y: 13.74%
• 3Y*: 17.39%
• 5Y*: 6.34%
• 10Y*: —

GIND

• 1D: -1.76%
• 1M: 2.14%
• YTD: -8.60%
• 6M: -9.40%
• 1Y: -10.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ADIV vs. GIND - Yearly Performance Comparison

	2026 (YTD)	2025
ADIV SmartETFs Asia Pacific Dividend Builder ETF	5.85%	19.42%
GIND Goldman Sachs India Equity ETF	-8.60%	4.70%

Correlation

The correlation between ADIV and GIND is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Apr 3, 2025	0.48

ADIV vs. GIND - Sectors Allocation Comparison

Sectors	ADIV	GIND
Financial Services	31.8%	29.4%
Technology	26.6%	7.7%
Consumer Cyclical	15.4%	15.3%
Real Estate	8.3%	1.5%
Consumer Defensive	5.1%	5.4%
Healthcare	5.0%	8.3%
Communication Services	3.2%	2.3%
Utilities	2.4%	3.7%
Industrials	2.3%	10.5%
Basic Materials	-	8.9%
Energy	-	3.2%

Return for Risk

ADIV vs. GIND — Risk / Return Rank

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

ADIV

ADIV Risk / Return Rank: 29
ADIV Sharpe Ratio Rank: 29
ADIV Sortino Ratio Rank: 28
ADIV Omega Ratio Rank: 28
ADIV Calmar Ratio Rank: 29
ADIV Martin Ratio Rank: 32

GIND

GIND Risk / Return Rank: 4
GIND Sharpe Ratio Rank: 4
GIND Sortino Ratio Rank: 4
GIND Omega Ratio Rank: 4
GIND Calmar Ratio Rank: 5
GIND Martin Ratio Rank: 4

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.

ADIV vs. GIND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SmartETFs Asia Pacific Dividend Builder ETF (ADIV) and Goldman Sachs India Equity ETF (GIND). 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.

	ADIV	GIND	Difference
Sharpe ratio: Return per unit of total volatility	0.99	-0.62	+1.61
Sortino ratio: Return per unit of downside risk	1.44	-0.81	+2.25
Omega ratio: Gain probability vs. loss probability	1.18	0.91	+0.28
Calmar ratio: Return relative to maximum drawdown	1.36	-0.45	+1.81
Martin ratio: Return relative to average drawdown	4.40	-1.01	+5.41

ADIV vs. GIND - Sharpe Ratio Comparison

The current ADIV Sharpe Ratio is 0.99, which is higher than the GIND Sharpe Ratio of -0.62. The chart below compares the historical Sharpe Ratios of ADIV and GIND, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ADIV vs. GIND - Drawdown Comparison

The maximum ADIV drawdown since its inception was -31.55%, which is greater than GIND's maximum drawdown of -22.97%. Use the drawdown chart below to compare losses from any high point for ADIV and GIND.

Drawdown Indicators

	ADIV	GIND	Difference
Max Drawdown Largest peak-to-trough decline	-31.55%	-22.97%	-8.58%
Max Drawdown (1Y) Largest decline over 1 year	-10.15%	-22.97%	+12.82%
Max Drawdown (3Y) Largest decline over 3 years	-18.53%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-31.55%	—	—
Current Drawdown Current decline from peak	-3.17%	-13.34%	+10.17%
Average Drawdown Average peak-to-trough decline	-8.38%	-7.17%	-1.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	10.10%	-6.97%

Volatility

ADIV vs. GIND - Volatility Comparison

SmartETFs Asia Pacific Dividend Builder ETF (ADIV) has a higher volatility of 5.46% compared to Goldman Sachs India Equity ETF (GIND) at 5.09%. This indicates that ADIV's price experiences larger fluctuations and is considered to be riskier than GIND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ADIV	GIND	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.46%	5.09%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	11.23%	14.50%	-3.27%
Volatility (1Y) Calculated over the trailing 1-year period	13.93%	16.68%	-2.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.58%	17.22%	-0.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.40%	17.22%	-0.82%

ADIV vs. GIND - Expense Ratio Comparison

ADIV has a 0.78% expense ratio, which is higher than GIND's 0.75% expense ratio.

Dividends

ADIV vs. GIND - Dividend Comparison

ADIV's dividend yield for the trailing twelve months is around 3.66%, while GIND has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
ADIV SmartETFs Asia Pacific Dividend Builder ETF	3.66%	2.77%	4.83%	4.55%	2.98%	13.85%
GIND Goldman Sachs India Equity ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ADIV and GIND in my portfolio?

ADIV and GIND have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ADIV or GIND?

ADIV has higher volatility (5.46%) compared to GIND (5.09%). In terms of maximum drawdown, ADIV dropped -31.55% vs GIND's -22.97%.

Which ETF is better, ADIV or GIND?

On 1-year performance, ADIV leads with 13.74% vs -10.21% for GIND. On fees, GIND is cheaper at 0.75% per year. On volatility, GIND has been the lower-risk option at 5.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ADIV or GIND?

Over the 1-year period, ADIV has performed better with a 13.74% return vs -10.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ADIV or GIND?

GIND is cheaper with a 0.75% expense ratio, compared with 0.78% for ADIV.

Which ETF pays a higher dividend yield, ADIV or GIND?

ADIV has the higher dividend yield at 3.66%, compared with 0.00% for GIND.

What is the main difference between ADIV and GIND?

They also come from different issuers: Guinness Atkinson Asset Management and Goldman Sachs. Their fees differ too: 0.78% for ADIV and 0.75% for GIND.

Which has better risk-adjusted returns?

ADIV currently has the higher Sharpe Ratio (0.99 vs -0.62), 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.