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 16.92%/yr vs 7.42%/yr for INDA. A 0.65 correlation means they provide meaningful diversification when combined.
Performance
IBN vs. INDA - Performance Comparison
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Returns By Period
In the year-to-date period, IBN achieves a -4.97% return, which is significantly higher than INDA's -9.21% return. Over the past 10 years, IBN has outperformed INDA with an annualized return of 16.92%, while INDA has yielded a comparatively lower 7.42% annualized return.
IBN
- 1D
- -0.74%
- 1M
- 9.01%
- YTD
- -4.97%
- 6M
- -6.07%
- 1Y
- -12.81%
- 3Y*
- 8.34%
- 5Y*
- 11.18%
- 10Y*
- 16.92%
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%
IBN vs. INDA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBN ICICI Bank Limited | -4.97% | 0.57% | 26.32% | 9.80% | 11.27% | 33.57% | -1.52% | 47.01% | 6.25% | 44.03% |
INDA iShares MSCI India ETF | -9.21% | 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 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
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 3, 2012 | 0.65 |
The correlation between IBN and INDA has been stable across timeframes, ranging from 0.59 to 0.65 - a consistent structural relationship.
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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.
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.
| IBN | INDA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 0.90 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.49 | -0.52 | +0.03 |
| Martin ratioReturn relative to average drawdown | -0.92 | -1.17 | +0.25 |
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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.
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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 | -17.07% | -16.51% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -27.99% | -9.60% | -18.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.98% | 8.28% | +5.70% |
Volatility
IBN vs. INDA - Volatility Comparison
ICICI Bank Limited (IBN) has a higher volatility of 6.02% compared to iShares MSCI India ETF (INDA) at 4.56%. 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.
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Volatility by Period
| IBN | INDA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.02% | 4.56% | +1.46% |
Volatility (6M)Calculated over the trailing 6-month period | 17.15% | 13.07% | +4.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.78% | 14.91% | +5.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.64% | 15.44% | +8.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.52% | 21.08% | +10.44% |
Dividends
IBN vs. INDA - Dividend Comparison
IBN's dividend yield for the trailing twelve months is around 0.88%, 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 | 0.88% | 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 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBN has higher volatility (6.02%) compared to INDA (4.56%). In terms of maximum drawdown, IBN dropped -86.09% vs INDA's -45.07%.
IBN currently has the higher Sharpe Ratio (-0.62 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.
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