IBN vs. INDA
IBN (ICICI Bank Limited) is a stock, while INDA (iShares MSCI India ETF) is Asia Pacific Equities fund tracking the MSCI India Index. Over the past 10 years, IBN returned 15.33%/yr vs 6.56%/yr for INDA. A 0.65 correlation means they provide meaningful diversification when combined.
Performance
IBN vs. INDA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IBN achieves a -14.43% return, which is significantly lower than INDA's -12.38% return. Over the past 10 years, IBN has outperformed INDA with an annualized return of 15.33%, while INDA has yielded a comparatively lower 6.56% annualized return.
IBN
- 1D
- 0.87%
- 1M
- -2.45%
- YTD
- -14.43%
- 6M
- -16.97%
- 1Y
- -23.64%
- 3Y*
- 4.21%
- 5Y*
- 8.01%
- 10Y*
- 15.33%
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%
IBN vs. INDA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBN ICICI Bank Limited | -14.43% | 0.57% | 26.32% | 9.80% | 11.27% | 33.57% | -1.52% | 47.01% | 6.25% | 44.03% |
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 IBN and INDA is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.63 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2012 | 0.65 |
The correlation between IBN and INDA has been stable across timeframes, ranging from 0.58 to 0.65 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IBN vs. INDA — Risk / Return Rank
IBN
INDA
IBN vs. INDA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ICICI Bank Limited (IBN) 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.
| IBN | INDA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.53 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 0.87 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | -0.66 | -0.25 |
| Martin ratioReturn relative to average drawdown | -1.79 | -1.59 | -0.20 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| IBN | INDA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.17 | -0.84 | -0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | 0.15 | +0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | 0.31 | +0.17 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.23 | -0.01 |
Drawdowns
IBN vs. INDA - Drawdown Comparison
The maximum IBN drawdown since its inception was -86.09%, which is greater than INDA's maximum drawdown of -45.07%. Use the drawdown chart below to compare losses from any high point for IBN and INDA.
Loading charts...
Drawdown Indicators
| IBN | INDA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.09% | -45.07% | -41.02% |
Max Drawdown (1Y)Largest decline over 1 year | -26.20% | -18.69% | -7.51% |
Max Drawdown (3Y)Largest decline over 3 years | -26.20% | -22.72% | -3.48% |
Max Drawdown (5Y)Largest decline over 5 years | -26.24% | -22.72% | -3.52% |
Max Drawdown (10Y)Largest decline over 10 years | -55.05% | -45.07% | -9.98% |
Current DrawdownCurrent decline from peak | -25.32% | -19.42% | -5.90% |
Average DrawdownAverage peak-to-trough decline | -28.01% | -9.57% | -18.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.22% | 7.71% | +5.51% |
Volatility
IBN vs. INDA - Volatility Comparison
ICICI Bank Limited (IBN) has a higher volatility of 6.04% compared to iShares MSCI India ETF (INDA) at 5.26%. This indicates that IBN'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.
Loading charts...
Volatility by Period
| IBN | INDA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.04% | 5.26% | +0.78% |
Volatility (6M)Calculated over the trailing 6-month period | 16.32% | 12.66% | +3.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.29% | 14.67% | +5.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.59% | 15.37% | +8.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.68% | 21.12% | +10.56% |
Dividends
IBN vs. INDA - Dividend Comparison
IBN's dividend yield for the trailing twelve months is around 0.98%, while INDA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBN ICICI Bank Limited | 0.98% | 0.84% | 0.80% | 0.81% | 0.57% | 0.27% | 0.00% | 0.19% | 0.43% | 0.79% | 1.98% | 4.01% |
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
IBN and INDA have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBN has higher volatility (6.04%) compared to INDA (5.26%). In terms of maximum drawdown, IBN dropped -86.09% vs INDA's -45.07%.
INDA currently has the higher Sharpe Ratio (-0.84 vs -1.17), 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.
Find the right allocation for IBN and INDA
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer