FIH-U.TO vs. INDA

Last updated Jun 4, 2026

FIH-U.TO (Fairfax India Holdings Corporation) is a stock, while INDA (iShares MSCI India ETF) is Asia Pacific Equities fund tracking the MSCI India Index. Over the past 10 years, FIH-U.TO returned 5.48%/yr vs 6.56%/yr for INDA. At a 0.14 correlation, their price movements are largely independent.

Performance

FIH-U.TO vs. INDA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fairfax India Holdings Corporation (FIH-U.TO) 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, FIH-U.TO achieves a 3.53% return, which is significantly higher than INDA's -12.38% return. Over the past 10 years, FIH-U.TO has underperformed INDA with an annualized return of 5.48%, while INDA has yielded a comparatively higher 6.56% annualized return.

FIH-U.TO

• 1D: -1.10%
• 1M: 0.28%
• YTD: 3.53%
• 6M: 8.29%
• 1Y: -0.17%
• 3Y*: 10.52%
• 5Y*: 6.74%
• 10Y*: 5.48%

INDA

• 1D: -1.39%
• 1M: -2.61%
• YTD: -12.38%
• 6M: -11.33%
• 1Y: -12.23%
• 3Y*: 4.17%
• 5Y*: 2.32%
• 10Y*: 6.56%

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

FIH-U.TO vs. INDA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIH-U.TO Fairfax India Holdings Corporation	3.53%	8.00%	5.33%	23.78%	-2.62%	31.35%	-25.00%	-2.51%	-12.47%	29.87%
INDA iShares MSCI India ETF	-12.38%	2.68%	8.63%	17.16%	-8.94%	21.36%	14.83%	6.49%	-6.67%	36.08%

Correlation

The correlation between FIH-U.TO and INDA is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (10Y) Calculated over the trailing 10-year period	0.15
Correlation (All Time) Calculated using the full available price history since Feb 2, 2015	0.14

Return for Risk

FIH-U.TO vs. INDA — Risk / Return Rank

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

FIH-U.TO

FIH-U.TO Risk / Return Rank: 38
FIH-U.TO Sharpe Ratio Rank: 41
FIH-U.TO Sortino Ratio Rank: 36
FIH-U.TO Omega Ratio Rank: 35
FIH-U.TO Calmar Ratio Rank: 41
FIH-U.TO Martin Ratio Rank: 40

INDA

INDA Risk / Return Rank: 2
INDA Sharpe Ratio Rank: 2
INDA Sortino Ratio Rank: 2
INDA Omega Ratio Rank: 2
INDA Calmar Ratio Rank: 3
INDA 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.

FIH-U.TO vs. INDA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fairfax India Holdings Corporation (FIH-U.TO) 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.

	FIH-U.TO	INDA	Difference
Sharpe ratio: Return per unit of total volatility	-0.01	-0.84	+0.83
Sortino ratio: Return per unit of downside risk	0.23	-1.15	+1.39
Omega ratio: Gain probability vs. loss probability	1.03	0.87	+0.16
Calmar ratio: Return relative to maximum drawdown	-0.01	-0.66	+0.65
Martin ratio: Return relative to average drawdown	-0.01	-1.59	+1.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIH-U.TO vs. INDA - Sharpe Ratio Comparison

The current FIH-U.TO Sharpe Ratio is -0.01, which is higher than the INDA Sharpe Ratio of -0.84. The chart below compares the historical Sharpe Ratios of FIH-U.TO 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.

Sharpe Ratios by Period

	FIH-U.TO	INDA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.01	-0.84	+0.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.21	0.15	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.15	0.31	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.23	-0.08

Drawdowns

FIH-U.TO vs. INDA - Drawdown Comparison

The maximum FIH-U.TO drawdown since its inception was -70.80%, which is greater than INDA's maximum drawdown of -45.07%. Use the drawdown chart below to compare losses from any high point for FIH-U.TO and INDA.

Drawdown Indicators

	FIH-U.TO	INDA	Difference
Max Drawdown Largest peak-to-trough decline	-70.80%	-45.07%	-25.73%
Max Drawdown (1Y) Largest decline over 1 year	-21.72%	-18.69%	-3.03%
Max Drawdown (3Y) Largest decline over 3 years	-24.48%	-22.72%	-1.76%
Max Drawdown (5Y) Largest decline over 5 years	-37.37%	-22.72%	-14.65%
Max Drawdown (10Y) Largest decline over 10 years	-70.80%	-45.07%	-25.73%
Current Drawdown Current decline from peak	-11.03%	-19.42%	+8.39%
Average Drawdown Average peak-to-trough decline	-24.23%	-9.57%	-14.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.59%	7.71%	+4.88%

Volatility

FIH-U.TO vs. INDA - Volatility Comparison

Fairfax India Holdings Corporation (FIH-U.TO) has a higher volatility of 10.04% compared to iShares MSCI India ETF (INDA) at 5.26%. This indicates that FIH-U.TO's price experiences larger fluctuations and is considered to be riskier than INDA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIH-U.TO	INDA	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.04%	5.26%	+4.78%
Volatility (6M) Calculated over the trailing 6-month period	24.98%	12.66%	+12.32%
Volatility (1Y) Calculated over the trailing 1-year period	33.10%	14.67%	+18.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.35%	15.37%	+16.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.80%	21.12%	+14.68%

Dividends

FIH-U.TO vs. INDA - Dividend Comparison

Neither FIH-U.TO nor INDA has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIH-U.TO Fairfax India Holdings Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	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 FIH-U.TO and INDA in my portfolio?

FIH-U.TO and INDA have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.