BBAX vs. INDA

Last updated Aug 6, 2026

BBAX (JPMorgan BetaBuilders Developed Asia ex-Japan ETF) and INDA (iShares MSCI India ETF) are both exchange-traded funds - BBAX is a Asia Pacific Equities fund tracking the Morningstar Developed Asia Pacific ex-Japan Target Market Exposure Index, while INDA is a India Equities fund tracking the MSCI India Index. Both are passively managed. Over the past 5 years, BBAX returned 6.80%/yr vs 3.41%/yr for INDA. Their 0.54 correlation means they have sometimes moved together and sometimes differently. BBAX charges 0.19%/yr vs 0.69%/yr for INDA.

Performance

BBAX vs. INDA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX) and iShares MSCI India ETF (INDA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBAX achieves a 16.73% return, which is significantly higher than INDA's -6.92% return.

BBAX

• 1D: -0.37%
• 1M: 6.67%
• 6M: 7.07%
• YTD: 16.73%
• 1Y: 21.07%
• 3Y*: 14.83%
• 5Y*: 6.80%
• 10Y*: —
• ALL TIME*: 7.38%

INDA

• 1D: -0.44%
• 1M: 0.86%
• 6M: -5.86%
• YTD: -6.92%
• 1Y: -4.01%
• 3Y*: 4.80%
• 5Y*: 3.41%
• 10Y*: 6.58%
• ALL TIME*: 5.51%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF	$14.45M	$14.37M	$16.01M
INDA iShares MSCI India ETF	$376.57M	$306.60M	$317.64M

BBAX vs. INDA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF	16.73%	20.21%	2.50%	5.60%	-4.80%	5.53%	8.02%	18.66%	-9.65%
INDA iShares MSCI India ETF	-6.92%	2.68%	8.63%	17.16%	-8.94%	21.36%	14.83%	6.49%	-5.44%

Correlation

The correlation between BBAX and INDA is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.47
Correlation (3Y) Balances recent behavior with more history.	0.45
Correlation (5Y) Shows whether the relationship held over a longer period.	0.51
Correlation (All Time) Calculated using the full available price history since Aug 8, 2018	0.54

The correlation between BBAX and INDA has been stable across timeframes, ranging from 0.45 to 0.54 - a consistent structural relationship.

BBAX vs. INDA - Sectors Allocation Comparison

Sectors	BBAX	INDA
Financial Services	45.5%	30.3%
Basic Materials	16.4%	8.5%
Industrials	8.2%	10.5%
Real Estate	7.6%	1.4%
Consumer Cyclical	5.7%	12.3%
Healthcare	4.9%	6.4%
Consumer Defensive	3.4%	5.6%
Utilities	3.2%	4.2%
Communication Services	2.5%	5.0%
Energy	2.5%	8.8%
Technology	0.2%	7.1%

Return for Risk

BBAX vs. INDA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BBAX

BBAX Risk / Return Rank: 51
BBAX Sharpe Ratio Rank: 49
BBAX Sortino Ratio Rank: 48
BBAX Omega Ratio Rank: 48
BBAX Calmar Ratio Rank: 58
BBAX Martin Ratio Rank: 52

INDA

INDA Risk / Return Rank: 7
INDA Sharpe Ratio Rank: 7
INDA Sortino Ratio Rank: 6
INDA Omega Ratio Rank: 7
INDA Calmar Ratio Rank: 7
INDA Martin Ratio Rank: 7

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BBAX vs. INDA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX) 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.

	BBAX	INDA	Difference
Sharpe ratio: Return per unit of total volatility	1.40	-0.27	+1.67
Sortino ratio: Return per unit of downside risk	1.99	-0.28	+2.27
Omega ratio: Gain probability vs. loss probability	1.25	0.97	+0.28
Calmar ratio: Return relative to maximum drawdown	2.35	-0.23	+2.57
Martin ratio: Return relative to average drawdown	6.76	-0.49	+7.25

BBAX vs. INDA - Sharpe Ratio Comparison

The current BBAX Sharpe Ratio is 1.40, which is higher than the INDA Sharpe Ratio of -0.27. The chart below compares the historical Sharpe Ratios of BBAX and INDA, 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

BBAX vs. INDA - Drawdown Comparison

The maximum BBAX drawdown since its inception was -39.64%, smaller than the maximum INDA drawdown of -45.07%. Use the drawdown chart below to compare losses from any high point for BBAX and INDA.

Drawdown Indicators

	BBAX	INDA	Difference
Max Drawdown Largest peak-to-trough decline	-39.64%	-45.07%	+5.43%
Max Drawdown (1Y) Largest decline over 1 year	-9.01%	-17.85%	+8.84%
Max Drawdown (3Y) Largest decline over 3 years	-20.12%	-22.72%	+2.60%
Max Drawdown (5Y) Largest decline over 5 years	-23.21%	-22.72%	-0.49%
Max Drawdown (10Y) Largest decline over 10 years	—	-45.07%	—
Current Drawdown Current decline from peak	-0.37%	-14.40%	+14.03%
Average Drawdown Average peak-to-trough decline	-7.13%	-9.65%	+2.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.12%	8.21%	-5.09%

Volatility

BBAX vs. INDA - Volatility Comparison

JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX) and iShares MSCI India ETF (INDA) have volatilities of 4.16% and 3.98%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BBAX	INDA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	3.98%	+0.18%
Volatility (6M) Calculated over the trailing 6-month period	12.58%	12.89%	-0.31%
Volatility (1Y) Calculated over the trailing 1-year period	15.12%	15.14%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.41%	15.47%	+1.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.61%	21.07%	-1.46%

BBAX vs. INDA - Expense Ratio Comparison

BBAX has a 0.19% expense ratio, which is lower than INDA's 0.69% expense ratio.

Dividends

BBAX vs. INDA - Dividend Comparison

BBAX's dividend yield for the trailing twelve months is around 3.48%, while INDA has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF	3.48%	3.86%	4.13%	4.17%	5.06%	5.47%	2.57%	4.07%	1.36%	0.00%	0.00%	0.00%
INDA iShares MSCI India ETF	0.00%	0.00%	0.76%	0.16%	0.00%	6.44%	0.27%	0.99%	0.94%	1.09%	0.90%	1.19%

Frequently Asked Questions

Can I hold both BBAX and INDA in my portfolio?

BBAX and INDA have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BBAX or INDA?

BBAX has higher volatility (4.16%) compared to INDA (3.98%). In terms of maximum drawdown, BBAX dropped -39.64% vs INDA's -45.07%.

Which ETF is better, BBAX or INDA?

On 5-year performance, BBAX leads with 6.80% vs 3.41% for INDA. On fees, BBAX is cheaper at 0.19% per year. On volatility, INDA has been the lower-risk option at 3.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBAX or INDA?

Over the 5-year period, BBAX has performed better with a 6.80% return vs 3.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBAX or INDA?

BBAX is cheaper with a 0.19% expense ratio, compared with 0.69% for INDA.

Which ETF pays a higher dividend yield, BBAX or INDA?

BBAX has the higher dividend yield at 3.48%, compared with 0.00% for INDA.

What is the main difference between BBAX and INDA?

BBAX is categorized as Asia Pacific Equities, while INDA is India Equities. BBAX tracks Morningstar Developed Asia Pacific ex-Japan Target Market Exposure Index, while INDA tracks MSCI India Index. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.19% for BBAX and 0.69% for INDA.

Which has better risk-adjusted returns?

BBAX currently has the higher Sharpe Ratio (1.40 vs -0.27), 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.