IBN vs. INDA
IBN (ICICI Bank Limited) is a stock, while INDA (iShares MSCI India ETF) is India Equities fund tracking the MSCI India Index. Over the past 10 years, IBN returned 16.99%/yr vs 6.56%/yr for INDA. Their 0.65 correlation means they have sometimes moved together and sometimes differently.
Performance
IBN vs. INDA - Performance Comparison
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Returns By Period
In the year-to-date period, IBN achieves a 0.64% return, which is significantly higher than INDA's -7.86% return. Over the past 10 years, IBN has outperformed INDA with an annualized return of 16.99%, while INDA has yielded a comparatively lower 6.56% annualized return.
IBN
- 1D
- -0.89%
- 1M
- 1.70%
- 6M
- 2.39%
- YTD
- 0.64%
- 1Y
- -10.17%
- 3Y*
- 7.84%
- 5Y*
- 10.70%
- 10Y*
- 16.99%
- ALL TIME*
- 11.33%
INDA
- 1D
- 0.20%
- 1M
- 0.48%
- 6M
- -3.75%
- YTD
- -7.86%
- 1Y
- -5.54%
- 3Y*
- 4.09%
- 5Y*
- 3.65%
- 10Y*
- 6.56%
- ALL TIME*
- 5.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $219.63M | $223.82M | $208.43M | |
| $354.20M | $298.51M | $312.64M |
IBN vs. INDA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBN ICICI Bank Limited | 0.64% | 0.57% | 26.32% | 9.80% | 11.27% | 33.57% | -1.52% | 47.01% | 6.25% | 44.03% |
INDA iShares MSCI India ETF | -7.86% | 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 0.63, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.63 |
Correlation (3Y) Balances recent behavior with more history. | 0.60 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.63 |
Correlation (10Y) Provides a long-term view across more market conditions. | 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 0.60 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 | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 0.95 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | -0.30 | -0.12 |
| Martin ratioReturn relative to average drawdown | -0.80 | -0.66 | -0.14 |
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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 | -24.51% | -17.85% | -6.66% |
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 | -12.18% | -15.27% | +3.09% |
Average DrawdownAverage peak-to-trough decline | -27.93% | -9.65% | -18.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.10% | 8.16% | +4.94% |
Volatility
IBN vs. INDA - Volatility Comparison
ICICI Bank Limited (IBN) has a higher volatility of 6.28% compared to iShares MSCI India ETF (INDA) at 4.11%. 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 | 6.28% | 4.11% | +2.17% |
Volatility (6M)Calculated over the trailing 6-month period | 17.21% | 13.19% | +4.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.42% | 15.11% | +6.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.57% | 15.50% | +8.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.40% | 21.07% | +10.33% |
Dividends
IBN vs. INDA - Dividend Comparison
IBN's dividend yield for the trailing twelve months is around 0.83%, 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 | 0.83% | 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 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBN has higher volatility (6.28%) compared to INDA (4.11%). In terms of maximum drawdown, IBN dropped -86.09% vs INDA's -45.07%.
INDA currently has the higher Sharpe Ratio (-0.36 vs -0.48), 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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