IDX vs. INDY

Last updated Jun 4, 2026

IDX (VanEck Vectors Indonesia Index ETF) and INDY (iShares India 50 ETF) are both Asia Pacific Equities funds - IDX tracks the MVIS Indonesia Index while INDY tracks the S&P CNX Nifty Index. Both are passively managed. Over the past 10 years, IDX returned -4.06%/yr vs 6.28%/yr for INDY. A 0.54 correlation means they provide meaningful diversification when combined. IDX charges 0.57%/yr vs 0.94%/yr for INDY.

Performance

IDX vs. INDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors Indonesia Index ETF (IDX) and iShares India 50 ETF (INDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IDX achieves a -35.74% return, which is significantly lower than INDY's -14.24% return. Over the past 10 years, IDX has underperformed INDY with an annualized return of -4.06%, while INDY has yielded a comparatively higher 6.28% annualized return.

IDX

• 1D: -4.67%
• 1M: -17.75%
• YTD: -35.74%
• 6M: -36.84%
• 1Y: -25.49%
• 3Y*: -13.44%
• 5Y*: -8.94%
• 10Y*: -4.06%

INDY

• 1D: 1.34%
• 1M: -2.49%
• YTD: -14.24%
• 6M: -13.60%
• 1Y: -13.42%
• 3Y*: 1.99%
• 5Y*: 1.42%
• 10Y*: 6.28%

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

IDX vs. INDY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IDX VanEck Vectors Indonesia Index ETF	-35.74%	13.83%	-9.75%	1.98%	-9.40%	-2.59%	-7.45%	6.26%	-10.46%	19.24%
INDY iShares India 50 ETF	-14.24%	4.97%	3.47%	16.88%	-7.31%	19.43%	10.01%	9.99%	-4.32%	36.15%

Correlation

The correlation between IDX and INDY is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.49
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009	0.54

Over the past year, the correlation between IDX and INDY has dropped to 0.27 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.

IDX vs. INDY - Sectors Allocation Comparison

Sectors	IDX	INDY
Basic Materials	25.2%	7.3%
Financial Services	25.1%	35.3%
Energy	12.5%	11.4%
Consumer Defensive	9.0%	6.2%
Communication Services	8.9%	5.3%
Industrials	7.4%	7.7%
Utilities	5.2%	3.0%
Technology	2.6%	8.6%
Healthcare	1.8%	4.5%
Real Estate	1.8%	-
Consumer Cyclical	0.5%	10.7%

Return for Risk

IDX vs. INDY — Risk / Return Rank

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

IDX

IDX Risk / Return Rank: 2
IDX Sharpe Ratio Rank: 1
IDX Sortino Ratio Rank: 2
IDX Omega Ratio Rank: 1
IDX Calmar Ratio Rank: 3
IDX Martin Ratio Rank: 0

INDY

INDY Risk / Return Rank: 2
INDY Sharpe Ratio Rank: 2
INDY Sortino Ratio Rank: 2
INDY Omega Ratio Rank: 2
INDY Calmar Ratio Rank: 3
INDY Martin Ratio Rank: 1

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.

IDX vs. INDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Indonesia Index ETF (IDX) and iShares India 50 ETF (INDY). 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.

	IDX	INDY	Difference
Sharpe ratio: Return per unit of total volatility	-1.02	-0.95	-0.07
Sortino ratio: Return per unit of downside risk	-1.29	-1.34	+0.04
Omega ratio: Gain probability vs. loss probability	0.82	0.85	-0.03
Calmar ratio: Return relative to maximum drawdown	-0.67	-0.71	+0.05
Martin ratio: Return relative to average drawdown	-1.99	-1.62	-0.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IDX vs. INDY - Sharpe Ratio Comparison

The current IDX Sharpe Ratio is -1.02, which is comparable to the INDY Sharpe Ratio of -0.95. The chart below compares the historical Sharpe Ratios of IDX and INDY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IDX	INDY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.02	-0.95	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.44	0.10	-0.54
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.17	0.32	-0.49
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	0.22	-0.08

Drawdowns

IDX vs. INDY - Drawdown Comparison

The maximum IDX drawdown since its inception was -63.14%, which is greater than INDY's maximum drawdown of -44.74%. Use the drawdown chart below to compare losses from any high point for IDX and INDY.

Drawdown Indicators

	IDX	INDY	Difference
Max Drawdown Largest peak-to-trough decline	-63.14%	-44.74%	-18.40%
Max Drawdown (1Y) Largest decline over 1 year	-38.42%	-18.95%	-19.47%
Max Drawdown (3Y) Largest decline over 3 years	-40.88%	-22.40%	-18.48%
Max Drawdown (5Y) Largest decline over 5 years	-45.90%	-22.40%	-23.50%
Max Drawdown (10Y) Largest decline over 10 years	-59.11%	-43.50%	-15.61%
Current Drawdown Current decline from peak	-56.42%	-19.94%	-36.48%
Average Drawdown Average peak-to-trough decline	-24.83%	-12.22%	-12.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.84%	8.32%	+4.52%

Volatility

IDX vs. INDY - Volatility Comparison

VanEck Vectors Indonesia Index ETF (IDX) has a higher volatility of 9.05% compared to iShares India 50 ETF (INDY) at 4.97%. This indicates that IDX's price experiences larger fluctuations and is considered to be riskier than INDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IDX	INDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.05%	4.97%	+4.08%
Volatility (6M) Calculated over the trailing 6-month period	22.03%	12.32%	+9.71%
Volatility (1Y) Calculated over the trailing 1-year period	25.04%	14.21%	+10.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.42%	14.94%	+5.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.31%	19.58%	+4.73%

IDX vs. INDY - Expense Ratio Comparison

IDX has a 0.57% expense ratio, which is lower than INDY's 0.94% expense ratio.

Dividends

IDX vs. INDY - Dividend Comparison

IDX's dividend yield for the trailing twelve months is around 3.24%, less than INDY's 9.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IDX VanEck Vectors Indonesia Index ETF	3.24%	2.08%	4.01%	3.62%	3.64%	1.08%	1.66%	2.21%	2.19%	1.85%	1.16%	2.43%
INDY iShares India 50 ETF	9.45%	8.11%	0.24%	0.38%	3.75%	7.12%	0.08%	0.58%	0.55%	0.27%	0.48%	0.57%

Frequently Asked Questions

Can I hold both IDX and INDY in my portfolio?

IDX and INDY have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IDX or INDY?

IDX has higher volatility (9.05%) compared to INDY (4.97%). In terms of maximum drawdown, IDX dropped -63.14% vs INDY's -44.74%.

Which ETF is better, IDX or INDY?

On 10-year performance, INDY leads with 6.28% vs -4.06% for IDX. On fees, IDX is cheaper at 0.57% per year. On volatility, INDY has been the lower-risk option at 4.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IDX or INDY?

Over the 10-year period, INDY has performed better with a 6.28% return vs -4.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IDX or INDY?

IDX is cheaper with a 0.57% expense ratio, compared with 0.94% for INDY.

Which ETF pays a higher dividend yield, IDX or INDY?

INDY has the higher dividend yield at 9.45%, compared with 3.24% for IDX.

What is the main difference between IDX and INDY?

IDX tracks MVIS Indonesia Index, while INDY tracks S&P CNX Nifty Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.57% for IDX and 0.94% for INDY.

Which has better risk-adjusted returns?

INDY currently has the higher Sharpe Ratio (-0.95 vs -1.02), 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.