DEEP vs. INDF

Last updated Jun 4, 2026

DEEP (Roundhill Acquirers Deep Value ETF) and INDF (Nifty India Financials ETF) are both exchange-traded funds - DEEP is a Small Cap Value Equities fund tracking the DEEP-US - Acquirers Deep Value Index, while INDF is a Financials Equities fund tracking the Nifty Financial Services 25/50 Index. Both are passively managed. At a 0.37 correlation, their price movements are largely independent. DEEP charges 0.80%/yr vs 0.75%/yr for INDF.

Performance

DEEP vs. INDF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill Acquirers Deep Value ETF (DEEP) and Nifty India Financials ETF (INDF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DEEP

• 1D: -2.02%
• 1M: 0.72%
• YTD: 12.39%
• 6M: 11.91%
• 1Y: 27.76%
• 3Y*: 9.78%
• 5Y*: 3.74%
• 10Y*: 8.15%

INDF

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DEEP vs. INDF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
DEEP Roundhill Acquirers Deep Value ETF	12.39%	5.69%	-2.97%	22.37%	-17.71%	35.66%	18.09%
INDF Nifty India Financials ETF	0.00%	8.17%	6.32%	19.86%	-5.28%	11.95%	23.97%

Correlation

The correlation between DEEP and INDF is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (All Time) Calculated using the full available price history since Oct 22, 2020	0.37

Over the past year, the correlation between DEEP and INDF has dropped to 0.14 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.

DEEP vs. INDF - Sectors Allocation Comparison

Sectors	DEEP	INDF
Industrials	25.8%	-
Consumer Cyclical	25.5%	-
Consumer Defensive	10.5%	-
Financial Services	8.6%	100.0%
Technology	8.5%	-
Healthcare	6.6%	-
Energy	5.7%	-
Basic Materials	4.8%	-
Communication Services	4.1%	-
Real Estate	3.1%	-
Utilities	-	-

Return for Risk

DEEP vs. INDF — Risk / Return Rank

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

DEEP

DEEP Risk / Return Rank: 42
DEEP Sharpe Ratio Rank: 41
DEEP Sortino Ratio Rank: 43
DEEP Omega Ratio Rank: 38
DEEP Calmar Ratio Rank: 48
DEEP Martin Ratio Rank: 42

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.

DEEP vs. INDF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Acquirers Deep Value ETF (DEEP) and Nifty India Financials ETF (INDF). 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.

	DEEP	INDF	Difference
Sharpe ratio: Return per unit of total volatility	1.46	—	—
Sortino ratio: Return per unit of downside risk	2.16	—	—
Omega ratio: Gain probability vs. loss probability	1.25	—	—
Calmar ratio: Return relative to maximum drawdown	2.35	—	—
Martin ratio: Return relative to average drawdown	6.76	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	DEEP	INDF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	—	—

Drawdowns

Drawdown Indicators

	DEEP	INDF	Difference
Max Drawdown Largest peak-to-trough decline	-52.52%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-11.87%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-28.40%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.40%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-52.52%	—	—
Current Drawdown Current decline from peak	-2.02%	—	—
Average Drawdown Average peak-to-trough decline	-10.40%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	4.12%	—	—

Volatility

Volatility by Period

	DEEP	INDF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.67%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.29%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.18%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.65%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.27%	—	—

DEEP vs. INDF - Expense Ratio Comparison

DEEP has a 0.80% expense ratio, which is higher than INDF's 0.75% expense ratio.

Dividends

DEEP vs. INDF - Dividend Comparison

DEEP's dividend yield for the trailing twelve months is around 1.52%, less than INDF's 21.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEEP Roundhill Acquirers Deep Value ETF	1.52%	1.78%	1.96%	1.67%	1.28%	1.43%	4.03%	3.49%	1.51%	2.01%	3.14%	3.98%
INDF Nifty India Financials ETF	21.29%	21.29%	6.15%	8.84%	3.12%	1.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DEEP and INDF in my portfolio?

DEEP and INDF have a correlation of 0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DEEP or INDF?

On fees, INDF is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DEEP or INDF?

INDF is cheaper with a 0.75% expense ratio, compared with 0.80% for DEEP.

Which ETF pays a higher dividend yield, DEEP or INDF?

INDF has the higher dividend yield at 21.29%, compared with 1.52% for DEEP.

What is the main difference between DEEP and INDF?

DEEP is categorized as Small Cap Value Equities, while INDF is Financials Equities. DEEP tracks DEEP-US - Acquirers Deep Value Index, while INDF tracks Nifty Financial Services 25/50 Index. Their fees differ too: 0.80% for DEEP and 0.75% for INDF.