EPI vs. INDY

Last updated Jun 3, 2026

EPI (WisdomTree India Earnings Fund) and INDY (iShares India 50 ETF) are both Asia Pacific Equities funds - EPI tracks the WisdomTree India Earnings Index while INDY tracks the S&P CNX Nifty Index. Both are passively managed. Over the past 10 years, EPI returned 9.14%/yr vs 6.29%/yr for INDY. With a 0.95 correlation, they move nearly in lockstep. EPI charges 0.84%/yr vs 0.94%/yr for INDY.

Performance

EPI vs. INDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree India Earnings Fund (EPI) and iShares India 50 ETF (INDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EPI achieves a -8.75% return, which is significantly higher than INDY's -14.22% return. Over the past 10 years, EPI has outperformed INDY with an annualized return of 9.14%, while INDY has yielded a comparatively lower 6.29% annualized return.

EPI

• 1D: 0.05%
• 1M: -2.45%
• YTD: -8.75%
• 6M: -7.57%
• 1Y: -9.24%
• 3Y*: 8.10%
• 5Y*: 5.97%
• 10Y*: 9.14%

INDY

• 1D: -0.05%
• 1M: -2.96%
• YTD: -14.22%
• 6M: -13.48%
• 1Y: -14.47%
• 3Y*: 1.85%
• 5Y*: 1.60%
• 10Y*: 6.29%

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

EPI vs. INDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EPI WisdomTree India Earnings Fund	-8.75%	2.25%	10.70%	26.03%	-4.74%	26.41%	18.55%	1.53%	-9.88%	39.14%
INDY iShares India 50 ETF	-14.22%	4.97%	3.47%	16.88%	-7.31%	19.43%	10.01%	9.99%	-4.32%	36.15%

Correlation

The correlation between EPI and INDY is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009	0.95

The correlation between EPI and INDY has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

EPI vs. INDY - Sectors Allocation Comparison

Sectors	EPI	INDY
Financial Services	23.4%	35.3%
Energy	17.3%	11.4%
Basic Materials	13.5%	7.3%
Industrials	9.7%	7.7%
Utilities	8.4%	3.0%
Technology	8.3%	8.6%
Consumer Cyclical	7.5%	10.7%
Healthcare	5.5%	4.5%
Consumer Defensive	3.5%	6.2%
Communication Services	2.0%	5.3%
Real Estate	0.9%	-

Return for Risk

EPI vs. INDY — Risk / Return Rank

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

EPI

EPI Risk / Return Rank: 3
EPI Sharpe Ratio Rank: 3
EPI Sortino Ratio Rank: 3
EPI Omega Ratio Rank: 3
EPI Calmar Ratio Rank: 4
EPI Martin Ratio Rank: 2

INDY

INDY Risk / Return Rank: 1
INDY Sharpe Ratio Rank: 1
INDY Sortino Ratio Rank: 1
INDY Omega Ratio Rank: 2
INDY Calmar Ratio Rank: 2
INDY Martin Ratio Rank: 0

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.

EPI vs. INDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree India Earnings Fund (EPI) and iShares India 50 ETF (INDY). 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.

	EPI	INDY	Difference
Sharpe ratio Return per unit of total volatility	-0.62	-1.03	+0.40
Sortino ratio Return per unit of downside risk	-0.81	-1.47	+0.65
Omega ratio Gain probability vs. loss probability	0.91	0.84	+0.07
Calmar ratio Return relative to maximum drawdown	-0.51	-0.75	+0.24
Martin ratio Return relative to average drawdown	-1.27	-1.74	+0.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EPI vs. INDY - Sharpe Ratio Comparison

The current EPI Sharpe Ratio is -0.62, which is higher than the INDY Sharpe Ratio of -1.03. The chart below compares the historical Sharpe Ratios of EPI and INDY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EPI	INDY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.62	-1.03	+0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.11	+0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.32	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	0.22	-0.08

Drawdowns

EPI vs. INDY - Drawdown Comparison

The maximum EPI drawdown since its inception was -66.21%, which is greater than INDY's maximum drawdown of -44.74%. Use the drawdown chart below to compare losses from any high point for EPI and INDY.

Drawdown Indicators

	EPI	INDY	Difference
Max Drawdown Largest peak-to-trough decline	-66.21%	-44.74%	-21.47%
Max Drawdown (1Y) Largest decline over 1 year	-16.88%	-18.95%	+2.07%
Max Drawdown (3Y) Largest decline over 3 years	-21.89%	-22.40%	+0.51%
Max Drawdown (5Y) Largest decline over 5 years	-21.89%	-22.40%	+0.51%
Max Drawdown (10Y) Largest decline over 10 years	-50.29%	-43.50%	-6.79%
Current Drawdown Current decline from peak	-16.66%	-19.92%	+3.26%
Average Drawdown Average peak-to-trough decline	-18.65%	-12.22%	-6.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.83%	8.18%	-1.35%

Volatility

EPI vs. INDY - Volatility Comparison

WisdomTree India Earnings Fund (EPI) and iShares India 50 ETF (INDY) have volatilities of 4.79% and 4.72%, 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

	EPI	INDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.79%	4.72%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	12.75%	12.21%	+0.54%
Volatility (1Y) Calculated over the trailing 1-year period	14.89%	14.13%	+0.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.20%	14.93%	+1.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.35%	19.58%	+0.77%

EPI vs. INDY - Expense Ratio Comparison

EPI has a 0.84% expense ratio, which is lower than INDY's 0.94% expense ratio.

Dividends

EPI vs. INDY - Dividend Comparison

EPI has not paid dividends to shareholders, while INDY's dividend yield for the trailing twelve months is around 9.45%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPI WisdomTree India Earnings Fund	0.00%	0.00%	0.27%	0.15%	6.01%	1.18%	0.78%	1.17%	1.18%	0.85%	1.05%	1.20%
INDY iShares India 50 ETF	9.45%	8.11%	0.24%	0.38%	3.75%	7.12%	0.08%	0.58%	0.55%	0.27%	0.48%	0.57%

Frequently Asked Questions

Can I hold both EPI and INDY in my portfolio?

With a correlation of 0.95, EPI and INDY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, EPI or INDY?

EPI has higher volatility (4.79%) compared to INDY (4.72%). In terms of maximum drawdown, EPI dropped -66.21% vs INDY's -44.74%.

Which ETF is better, EPI or INDY?

On 10-year performance, EPI leads with 9.14% vs 6.29% for INDY. On fees, EPI is cheaper at 0.84% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EPI or INDY?

Over the 10-year period, EPI has performed better with a 9.14% return vs 6.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EPI or INDY?

EPI is cheaper with a 0.84% expense ratio, compared with 0.94% for INDY.

Which ETF pays a higher dividend yield, EPI or INDY?

INDY has the higher dividend yield at 9.45%, compared with 0.00% for EPI.

What is the main difference between EPI and INDY?

EPI tracks WisdomTree India Earnings Index, while INDY tracks S&P CNX Nifty Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.84% for EPI and 0.94% for INDY.

Which has better risk-adjusted returns?

EPI currently has the higher Sharpe Ratio (-0.62 vs -1.03), 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.