GLIN vs. FWRG

Last updated Apr 2, 2026

Compare and contrast key facts about VanEck Vectors India Growth Leaders ETF (GLIN) and First Watch Restaurant Group, Inc. (FWRG).

GLIN is a passively managed fund by VanEck that tracks the performance of the MarketGrader India All-Cap Growth Leaders Index. It was launched on Aug 24, 2010.

Performance

GLIN vs. FWRG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors India Growth Leaders ETF (GLIN) and First Watch Restaurant Group, Inc. (FWRG). The values are adjusted to include any dividend payments, if applicable.

GLIN vs. FWRG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GLIN VanEck Vectors India Growth Leaders ETF	-10.69%	-5.47%	15.64%	36.13%	-21.46%	-0.70%
FWRG First Watch Restaurant Group, Inc.	-27.45%	-18.97%	-7.41%	48.56%	-19.27%	-24.27%

Returns By Period

In the year-to-date period, GLIN achieves a -10.69% return, which is significantly higher than FWRG's -27.45% return.

GLIN

• 1D: 1.53%
• 1M: -9.12%
• YTD: -10.69%
• 6M: -7.68%
• 1Y: -2.80%
• 3Y*: 10.93%
• 5Y*: 5.27%
• 10Y*: 1.54%

FWRG

• 1D: 4.39%
• 1M: -12.20%
• YTD: -27.45%
• 6M: -30.41%
• 1Y: -38.92%
• 3Y*: -12.01%
• 5Y*: —
• 10Y*: —

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

Return for Risk

GLIN vs. FWRG — Risk / Return Rank

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

GLIN

GLIN Risk / Return Rank: 9
GLIN Sharpe Ratio Rank: 9
GLIN Sortino Ratio Rank: 8
GLIN Omega Ratio Rank: 8
GLIN Calmar Ratio Rank: 9
GLIN Martin Ratio Rank: 8

FWRG

FWRG Risk / Return Rank: 12
FWRG Sharpe Ratio Rank: 12
FWRG Sortino Ratio Rank: 14
FWRG Omega Ratio Rank: 14
FWRG Calmar Ratio Rank: 17
FWRG Martin Ratio Rank: 5

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.

GLIN vs. FWRG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors India Growth Leaders ETF (GLIN) and First Watch Restaurant Group, Inc. (FWRG). 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.

	GLIN	FWRG	Difference
Sharpe ratio Return per unit of total volatility	-0.15	-0.69	+0.53
Sortino ratio Return per unit of downside risk	-0.08	-0.79	+0.71
Omega ratio Gain probability vs. loss probability	0.99	0.90	+0.09
Calmar ratio Return relative to maximum drawdown	-0.17	-0.69	+0.52
Martin ratio Return relative to average drawdown	-0.55	-1.67	+1.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GLIN vs. FWRG - Sharpe Ratio Comparison

The current GLIN Sharpe Ratio is -0.15, which is higher than the FWRG Sharpe Ratio of -0.69. The chart below compares the historical Sharpe Ratios of GLIN and FWRG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	GLIN	FWRG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.15	-0.69	+0.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.07	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.11	-0.31	+0.19

Correlation

The correlation between GLIN and FWRG is 0.25, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

GLIN vs. FWRG - Dividend Comparison

GLIN's dividend yield for the trailing twelve months is around 0.94%, while FWRG has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GLIN VanEck Vectors India Growth Leaders ETF	0.94%	0.84%	3.58%	0.96%	1.70%	0.00%	0.24%	1.42%	0.12%	0.10%	1.39%	3.11%
FWRG First Watch Restaurant Group, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

GLIN vs. FWRG - Drawdown Comparison

The maximum GLIN drawdown since its inception was -79.36%, which is greater than FWRG's maximum drawdown of -60.38%. Use the drawdown chart below to compare losses from any high point for GLIN and FWRG.

Drawdown Indicators

	GLIN	FWRG	Difference
Max Drawdown Largest peak-to-trough decline	-79.36%	-60.38%	-18.98%
Max Drawdown (1Y) Largest decline over 1 year	-18.56%	-49.68%	+31.12%
Max Drawdown (5Y) Largest decline over 5 years	-30.97%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-74.80%	—	—
Current Drawdown Current decline from peak	-49.24%	-57.13%	+7.89%
Average Drawdown Average peak-to-trough decline	-51.04%	-27.96%	-23.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.73%	20.56%	-14.83%

Volatility

GLIN vs. FWRG - Volatility Comparison

The current volatility for VanEck Vectors India Growth Leaders ETF (GLIN) is 7.93%, while First Watch Restaurant Group, Inc. (FWRG) has a volatility of 17.94%. This indicates that GLIN experiences smaller price fluctuations and is considered to be less risky than FWRG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLIN	FWRG	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.93%	17.94%	-10.01%
Volatility (6M) Calculated over the trailing 6-month period	12.81%	42.14%	-29.33%
Volatility (1Y) Calculated over the trailing 1-year period	18.55%	57.44%	-38.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.95%	47.64%	-29.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.62%	47.64%	-24.02%