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IAK vs. INDL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IAK vs. INDL

Last updated Aug 4, 2026
Documentation

IAK (iShares U.S. Insurance ETF) and INDL (Direxion Daily India Bull 3x Shares) are both exchange-traded funds - IAK is a Financials Equities fund tracking the Dow Jones U.S. Select Insurance Index, while INDL is a Leveraged Equities fund tracking the Indus India Index (300%). Both are passively managed. Over the past 10 years, IAK returned 13.18%/yr vs -1.66%/yr for INDL. Their 0.43 correlation means their historical movements had little consistent relationship. IAK charges 0.38%/yr vs 1.33%/yr for INDL.

Performance

IAK vs. INDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Insurance ETF (IAK) and Direxion Daily India Bull 3x Shares (INDL). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IAK achieves a 10.11% return, which is significantly higher than INDL's -18.31% return. Over the past 10 years, IAK has outperformed INDL with an annualized return of 13.18%, while INDL has yielded a comparatively lower -1.66% annualized return.

IAK

1D
0.03%
1M
-0.03%
6M
12.56%
YTD
10.11%
1Y
19.67%
3Y*
19.67%
5Y*
15.99%
10Y*
13.18%
ALL TIME*
7.39%

INDL

1D
1.05%
1M
1.70%
6M
-15.41%
YTD
-18.31%
1Y
-16.73%
3Y*
0.31%
5Y*
-1.53%
10Y*
-1.66%
ALL TIME*
-6.57%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IAK

iShares U.S. Insurance ETF
$15.27M$20.59M$12.29M

INDL

Direxion Daily India Bull 3x Shares
$756.04K$752.34K$813.97K

IAK vs. INDL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IAK
iShares U.S. Insurance ETF		10.11%9.50%28.25%11.28%11.33%26.84%-2.86%25.94%-11.48%14.18%
INDL
Direxion Daily India Bull 3x Shares		-18.31%-3.21%7.56%26.06%-22.88%40.26%-36.43%3.15%-34.29%127.98%

Correlation

The correlation between IAK and INDL is 0.07, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.07

Correlation (3Y)
Balances recent behavior with more history.

0.19

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.31

Correlation (10Y)
Provides a long-term view across more market conditions.

0.33

Correlation (All Time)
Calculated using the full available price history since Mar 11, 2010

0.43

Over the past year, the correlation between IAK and INDL has dropped to 0.07 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.

IAK vs. INDL - Sectors Allocation Comparison

Sectors
IAK
INDL

Financial Services

99.3%
30.3%

Healthcare

0.7%
6.4%

Basic Materials

-

8.5%

Communication Services

-

5.0%

Consumer Cyclical

-

12.2%

Consumer Defensive

-

5.6%

Energy

-

8.8%

Industrials

-

10.5%

Real Estate

-

1.3%

Technology

-

7.2%

Utilities

-

4.2%

Financial Services

IAK
99.3%
INDL
30.3%

Healthcare

IAK
0.7%
INDL
6.4%

Basic Materials

IAK

-

INDL
8.5%

Communication Services

IAK

-

INDL
5.0%

Consumer Cyclical

IAK

-

INDL
12.2%

Consumer Defensive

IAK

-

INDL
5.6%

Energy

IAK

-

INDL
8.8%

Industrials

IAK

-

INDL
10.5%

Real Estate

IAK

-

INDL
1.3%

Technology

IAK

-

INDL
7.2%

Utilities

IAK

-

INDL
4.2%

Compare stocks, funds, or ETFs

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

iShares U.S. Insurance ETF

Direxion Daily India Bull 3x Shares

Often compared with IAK:
IAK vs. KIEIAK vs. KBWPIAK vs. IHEIAK vs. DIVBIAK vs. INFLIAK vs. ^SP500TRIAK vs. VYM
Often compared with INDL:
INDL vs. INDAINDL vs. GLININDL vs. BRZUINDL vs. TQQQINDL vs. INDYINDL vs. FLININDL vs. MORT

Return for Risk

IAK vs. INDL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
IAK
IAK Risk / Return Rank: 5454
Overall Rank
IAK Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
IAK Sortino Ratio Rank: 4949
Sortino Ratio Rank
IAK Omega Ratio Rank: 4747
Omega Ratio Rank
IAK Calmar Ratio Rank: 7272
Calmar Ratio Rank
IAK Martin Ratio Rank: 5252
Martin Ratio Rank
INDL
INDL Risk / Return Rank: 55
Overall Rank
INDL Sharpe Ratio Rank: 55
Sharpe Ratio Rank
INDL Sortino Ratio Rank: 55
Sortino Ratio Rank
INDL Omega Ratio Rank: 55
Omega Ratio Rank
INDL Calmar Ratio Rank: 55
Calmar Ratio Rank
INDL Martin Ratio Rank: 55
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IAK vs. INDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Insurance ETF (IAK) and Direxion Daily India Bull 3x Shares (INDL). 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.

IAKINDLDifference
Sharpe ratioReturn per unit of total volatility
1.24
-0.55

+1.79

Sortino ratioReturn per unit of downside risk
1.81
-0.64

+2.45

Omega ratioGain probability vs. loss probability

1.22

0.93

+0.29

Calmar ratioReturn relative to maximum drawdown

2.59

-0.48

+3.07

Martin ratioReturn relative to average drawdown

6.29

-0.95

+7.24

IAK vs. INDL - Sharpe Ratio Comparison

The current IAK Sharpe Ratio is 1.24, which is higher than the INDL Sharpe Ratio of -0.55. The chart below compares the historical Sharpe Ratios of IAK and INDL, 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

IAK vs. INDL - Drawdown Comparison

The maximum IAK drawdown since its inception was -77.38%, smaller than the maximum INDL drawdown of -95.67%. Use the drawdown chart below to compare losses from any high point for IAK and INDL.

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Drawdown Indicators

IAKINDLDifference

Max Drawdown

Largest peak-to-trough decline

-77.38%

-95.67%

+18.29%

Max Drawdown (1Y)

Largest decline over 1 year

-7.62%

-34.84%

+27.22%

Max Drawdown (3Y)

Largest decline over 3 years

-11.58%

-47.64%

+36.06%

Max Drawdown (5Y)

Largest decline over 5 years

-14.76%

-47.64%

+32.88%

Max Drawdown (10Y)

Largest decline over 10 years

-44.95%

-91.96%

+47.01%

Current Drawdown

Current decline from peak

-3.20%

-77.00%

+73.80%

Average Drawdown

Average peak-to-trough decline

-16.01%

-66.45%

+50.44%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.13%

17.70%

-14.57%

Volatility

IAK vs. INDL - Volatility Comparison

The current volatility for iShares U.S. Insurance ETF (IAK) is 6.56%, while Direxion Daily India Bull 3x Shares (INDL) has a volatility of 8.21%. This indicates that IAK experiences smaller price fluctuations and is considered to be less risky than INDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IAKINDLDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.56%

8.21%

-1.65%

Volatility (6M)

Calculated over the trailing 6-month period

12.42%

26.49%

-14.07%

Volatility (1Y)

Calculated over the trailing 1-year period

15.99%

30.51%

-14.52%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.13%

30.78%

-12.65%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.92%

52.40%

-31.48%

IAK vs. INDL - Expense Ratio Comparison

IAK has a 0.38% expense ratio, which is lower than INDL's 1.33% expense ratio.

Dividends

IAK vs. INDL - Dividend Comparison

IAK's dividend yield for the trailing twelve months is around 2.42%, more than INDL's 1.37% yield.

PositionTTM20252024202320222021202020192018201720162015
IAK
iShares U.S. Insurance ETF		2.42%1.69%1.49%1.44%1.69%2.26%2.07%1.84%2.33%1.62%1.68%1.62%
INDL
Direxion Daily India Bull 3x Shares		1.37%1.42%2.79%1.65%0.09%2.35%0.00%0.68%0.18%0.31%0.00%0.00%

Frequently Asked Questions

IAK and INDL have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

INDL has higher volatility (8.21%) compared to IAK (6.56%). In terms of maximum drawdown, IAK dropped -77.38% vs INDL's -95.67%.

On 10-year performance, IAK leads with 13.18% vs -1.66% for INDL. On fees, IAK is cheaper at 0.38% per year. On volatility, IAK has been the lower-risk option at 6.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IAK has performed better with a 13.18% return vs -1.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IAK is cheaper with a 0.38% expense ratio, compared with 1.33% for INDL.

IAK has the higher dividend yield at 2.42%, compared with 1.37% for INDL.

IAK is categorized as Financials Equities, while INDL is Leveraged Equities. IAK tracks Dow Jones U.S. Select Insurance Index, while INDL tracks Indus India Index (300%). They also come from different issuers: iShares and Direxion. Their fees differ too: 0.38% for IAK and 1.33% for INDL.

IAK currently has the higher Sharpe Ratio (1.24 vs -0.55), 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.

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