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FLIN vs. INDA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FLIN vs. INDA

Last updated Jun 24, 2026

FLIN (Franklin FTSE India ETF) and INDA (iShares MSCI India ETF) are both Asia Pacific Equities funds - FLIN tracks the FTSE India RIC Capped Index while INDA tracks the MSCI India Index. Both are passively managed. Over the past 5 years, FLIN returned 4.72%/yr vs 3.46%/yr for INDA. With a 0.96 correlation, they move nearly in lockstep. FLIN charges 0.19%/yr vs 0.69%/yr for INDA.

Performance

FLIN vs. INDA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin FTSE India ETF (FLIN) and iShares MSCI India ETF (INDA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FLIN achieves a -8.37% return, which is significantly higher than INDA's -9.21% return.

FLIN

1D
-1.64%
1M
1.99%
YTD
-8.37%
6M
-8.98%
1Y
-8.50%
3Y*
6.53%
5Y*
4.72%
10Y*
—

INDA

1D
-1.70%
1M
1.41%
YTD
-9.21%
6M
-9.91%
1Y
-9.65%
3Y*
5.09%
5Y*
3.46%
10Y*
7.42%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FLIN vs. INDA - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
FLIN
Franklin FTSE India ETF		-8.37%2.40%10.33%20.58%-7.96%24.96%14.50%4.77%-7.13%
INDA
iShares MSCI India ETF		-9.21%2.68%8.63%17.16%-8.94%21.36%14.83%6.49%-3.65%

Correlation

The correlation between FLIN and INDA is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.98

Correlation (3Y)
Calculated over the trailing 3-year period

0.98

Correlation (5Y)
Calculated over the trailing 5-year period

0.98

Correlation (All Time)
Calculated using the full available price history since Feb 8, 2018

0.96

The correlation between FLIN and INDA has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

FLIN vs. INDA - Sectors Allocation Comparison

Sectors
FLIN
INDA

Financial Services

26.9%
28.9%

Consumer Cyclical

12.0%
12.0%

Industrials

10.7%
10.6%

Basic Materials

9.5%
8.6%

Energy

9.0%
9.1%

Technology

8.3%
8.0%

Healthcare

6.7%
6.1%

Consumer Defensive

5.6%
5.8%

Utilities

5.4%
4.4%

Communication Services

4.6%
5.1%

Real Estate

1.3%
1.3%

Financial Services

FLIN
26.9%
INDA
28.9%

Consumer Cyclical

FLIN
12.0%
INDA
12.0%

Industrials

FLIN
10.7%
INDA
10.6%

Basic Materials

FLIN
9.5%
INDA
8.6%

Energy

FLIN
9.0%
INDA
9.1%

Technology

FLIN
8.3%
INDA
8.0%

Healthcare

FLIN
6.7%
INDA
6.1%

Consumer Defensive

FLIN
5.6%
INDA
5.8%

Utilities

FLIN
5.4%
INDA
4.4%

Communication Services

FLIN
4.6%
INDA
5.1%

Real Estate

FLIN
1.3%
INDA
1.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Franklin FTSE India ETF

iShares MSCI India ETF

Often compared with FLIN:
FLIN vs. EPIFLIN vs. NFTYFLIN vs. INDYFLIN vs. FRIN.LFLIN vs. SMINFLIN vs. GLINFLIN vs. VOO
Often compared with INDA:
INDA vs. INDYINDA vs. EPIINDA vs. SMININDA vs. VOOINDA vs. MCHIINDA vs. VNMINDA vs. IIND.L

Return for Risk

FLIN vs. INDA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FLIN
FLIN Risk / Return Rank: 44
Overall Rank
FLIN Sharpe Ratio Rank: 44
Sharpe Ratio Rank
FLIN Sortino Ratio Rank: 44
Sortino Ratio Rank
FLIN Omega Ratio Rank: 44
Omega Ratio Rank
FLIN Calmar Ratio Rank: 55
Calmar Ratio Rank
FLIN Martin Ratio Rank: 44
Martin Ratio Rank
INDA
INDA Risk / Return Rank: 44
Overall Rank
INDA Sharpe Ratio Rank: 44
Sharpe Ratio Rank
INDA Sortino Ratio Rank: 44
Sortino Ratio Rank
INDA Omega Ratio Rank: 44
Omega Ratio Rank
INDA Calmar Ratio Rank: 44
Calmar Ratio Rank
INDA Martin Ratio Rank: 33
Martin Ratio Rank
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.

FLIN vs. INDA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE India ETF (FLIN) 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.

FLININDADifference
Sharpe ratioReturn per unit of total volatility
-0.56
-0.65

+0.09

Sortino ratioReturn per unit of downside risk
-0.73
-0.86

+0.14

Omega ratioGain probability vs. loss probability

0.92

0.90

+0.02

Calmar ratioReturn relative to maximum drawdown

-0.45

-0.52

+0.06

Martin ratioReturn relative to average drawdown

-1.05

-1.17

+0.12

FLIN vs. INDA - Sharpe Ratio Comparison

The current FLIN Sharpe Ratio is -0.56, which is comparable to the INDA Sharpe Ratio of -0.65. The chart below compares the historical Sharpe Ratios of FLIN 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.

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Drawdowns

FLIN vs. INDA - Drawdown Comparison

The maximum FLIN drawdown since its inception was -41.90%, smaller than the maximum INDA drawdown of -45.07%. Use the drawdown chart below to compare losses from any high point for FLIN and INDA.

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Drawdown Indicators

FLININDADifference

Max Drawdown

Largest peak-to-trough decline

-41.90%

-45.07%

+3.17%

Max Drawdown (1Y)

Largest decline over 1 year

-18.79%

-18.69%

-0.10%

Max Drawdown (3Y)

Largest decline over 3 years

-22.85%

-22.72%

-0.13%

Max Drawdown (5Y)

Largest decline over 5 years

-22.85%

-22.72%

-0.13%

Max Drawdown (10Y)

Largest decline over 10 years

—

-45.07%

—

Current Drawdown

Current decline from peak

-15.64%

-16.51%

+0.87%

Average Drawdown

Average peak-to-trough decline

-8.06%

-9.60%

+1.54%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.10%

8.28%

-0.18%

Volatility

FLIN vs. INDA - Volatility Comparison

Franklin FTSE India ETF (FLIN) and iShares MSCI India ETF (INDA) have volatilities of 4.61% and 4.56%, 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.

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Volatility by Period

FLININDADifference

Volatility (1M)

Calculated over the trailing 1-month period

4.61%

4.56%

+0.05%

Volatility (6M)

Calculated over the trailing 6-month period

13.22%

13.07%

+0.15%

Volatility (1Y)

Calculated over the trailing 1-year period

15.18%

14.91%

+0.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.78%

15.44%

+0.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.43%

21.08%

-0.65%

FLIN vs. INDA - Expense Ratio Comparison

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

Dividends

FLIN vs. INDA - Dividend Comparison

FLIN's dividend yield for the trailing twelve months is around 0.43%, while INDA has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
FLIN
Franklin FTSE India ETF		0.43%0.56%1.58%0.73%0.73%2.26%0.68%0.90%0.92%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

With a correlation of 0.98, FLIN and INDA 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.

FLIN has higher volatility (4.61%) compared to INDA (4.56%). In terms of maximum drawdown, FLIN dropped -41.90% vs INDA's -45.07%.

On 5-year performance, FLIN leads with 4.72% vs 3.46% for INDA. On fees, FLIN is cheaper at 0.19% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, FLIN has performed better with a 4.72% return vs 3.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

FLIN has the higher dividend yield at 0.43%, compared with 0.00% for INDA.

FLIN tracks FTSE India RIC Capped Index, while INDA tracks MSCI India Index. They also come from different issuers: Franklin Templeton and iShares. Their fees differ too: 0.19% for FLIN and 0.69% for INDA.

FLIN currently has the higher Sharpe Ratio (-0.56 vs -0.65), 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.

Portfolio Optimizer

Find the right allocation for FLIN and INDA

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