FLIN vs. INDF

Last updated Jun 4, 2026

FLIN (Franklin FTSE India ETF) and INDF (Nifty India Financials ETF) are both exchange-traded funds - FLIN is a Asia Pacific Equities fund tracking the FTSE India RIC Capped Index, while INDF is a Financials Equities fund tracking the Nifty Financial Services 25/50 Index. Both are passively managed. A 0.75 correlation means they provide meaningful diversification when combined. FLIN charges 0.19%/yr vs 0.75%/yr for INDF.

Performance

FLIN vs. INDF - Performance Comparison

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

Returns By Period

FLIN

• 1D: -1.51%
• 1M: -2.58%
• YTD: -11.92%
• 6M: -10.85%
• 1Y: -11.63%
• 3Y*: 5.53%
• 5Y*: 3.56%
• 10Y*: —

INDF

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

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

FLIN vs. INDF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FLIN Franklin FTSE India ETF	-11.92%	2.40%	10.33%	20.58%	-7.96%	24.96%	14.77%
INDF Nifty India Financials ETF	0.00%	8.17%	6.32%	19.86%	-5.28%	11.95%	23.97%

Correlation

The correlation between FLIN and INDF is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Oct 22, 2020	0.75

Over the past year, the correlation between FLIN and INDF has dropped to 0.23 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.

FLIN vs. INDF - Sectors Allocation Comparison

Sectors	FLIN	INDF
Financial Services	27.2%	100.0%
Consumer Cyclical	12.0%	-
Industrials	10.3%	-
Energy	9.5%	-
Basic Materials	9.2%	-
Technology	8.4%	-
Healthcare	6.5%	-
Consumer Defensive	5.8%	-
Utilities	5.3%	-
Communication Services	4.6%	-
Real Estate	1.3%	-

Return for Risk

FLIN vs. INDF — Risk / Return Rank

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

FLIN

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

FLIN vs. INDF - Risk-Adjusted Trends Comparison

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

	FLIN	INDF	Difference
Sharpe ratio: Return per unit of total volatility	-0.78	—	—
Sortino ratio: Return per unit of downside risk	-1.06	—	—
Omega ratio: Gain probability vs. loss probability	0.88	—	—
Calmar ratio: Return relative to maximum drawdown	-0.62	—	—
Martin ratio: Return relative to average drawdown	-1.54	—	—
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

	FLIN	INDF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.78	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	—	—

Drawdowns

Drawdown Indicators

	FLIN	INDF	Difference
Max Drawdown Largest peak-to-trough decline	-41.90%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-18.79%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-22.85%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.85%	—	—
Current Drawdown Current decline from peak	-18.91%	—	—
Average Drawdown Average peak-to-trough decline	-8.01%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	7.57%	—	—

Volatility

Volatility by Period

	FLIN	INDF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.21%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.81%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.92%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.74%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.45%	—	—

FLIN vs. INDF - Expense Ratio Comparison

FLIN has a 0.19% expense ratio, which is lower than INDF's 0.75% expense ratio.

Dividends

FLIN vs. INDF - Dividend Comparison

FLIN's dividend yield for the trailing twelve months is around 0.64%, less than INDF's 21.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FLIN Franklin FTSE India ETF	0.64%	0.56%	1.58%	0.73%	0.73%	2.26%	0.68%	0.90%	0.92%
INDF Nifty India Financials ETF	21.29%	21.29%	6.15%	8.84%	3.12%	1.58%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FLIN and INDF in my portfolio?

FLIN and INDF have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FLIN or INDF?

On fees, FLIN is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FLIN or INDF?

FLIN is cheaper with a 0.19% expense ratio, compared with 0.75% for INDF.

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

INDF has the higher dividend yield at 21.29%, compared with 0.64% for FLIN.

What is the main difference between FLIN and INDF?

FLIN is categorized as Asia Pacific Equities, while INDF is Financials Equities. FLIN tracks FTSE India RIC Capped Index, while INDF tracks Nifty Financial Services 25/50 Index. They also come from different issuers: Franklin Templeton and Exchange Traded Concepts. Their fees differ too: 0.19% for FLIN and 0.75% for INDF.