IIF vs. IFN
IIF (Morgan Stanley India Investment Fund) and IFN (Aberdeen India Fund) are both Emerging Markets Equities funds. Over the past 10 years, IIF returned 7.85%/yr vs 6.36%/yr for IFN. Their 0.76 correlation means they have sometimes moved together and sometimes differently. IIF charges 0.01%/yr vs 0.01%/yr for IFN.
Performance
IIF vs. IFN - Performance Comparison
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Returns By Period
In the year-to-date period, IIF achieves a -8.13% return, which is significantly higher than IFN's -8.68% return. Over the past 10 years, IIF has outperformed IFN with an annualized return of 7.85%, while IFN has yielded a comparatively lower 6.36% annualized return.
IIF
- 1D
- -0.13%
- 1M
- 0.22%
- 6M
- -1.92%
- YTD
- -8.13%
- 1Y
- -9.25%
- 3Y*
- 11.93%
- 5Y*
- 8.92%
- 10Y*
- 7.85%
- ALL TIME*
- 13.21%
IFN
- 1D
- -0.26%
- 1M
- 0.09%
- 6M
- -7.67%
- YTD
- -8.68%
- 1Y
- -11.96%
- 3Y*
- 0.40%
- 5Y*
- 1.54%
- 10Y*
- 6.36%
- ALL TIME*
- 7.57%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.78M | $1.59M | $1.78M | |
| $680.67K | $759.12K | $751.79K |
IIF vs. IFN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IIF Morgan Stanley India Investment Fund | -8.13% | 6.71% | 29.65% | 21.43% | -9.55% | 30.87% | 6.66% | -0.66% | -21.25% | 49.89% |
IFN Aberdeen India Fund | -8.68% | 0.42% | -2.26% | 36.48% | -15.85% | 22.31% | 12.25% | 11.27% | -5.33% | 37.15% |
Correlation
The correlation between IIF and IFN is 0.68, 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. | 0.68 |
Correlation (3Y) Balances recent behavior with more history. | 0.70 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.72 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.75 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 1995 | 0.76 |
The correlation between IIF and IFN has been stable across timeframes, ranging from 0.68 to 0.76 - a consistent structural relationship.
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Return for Risk
IIF vs. IFN — Risk / Return Rank
IIF
IFN
IIF vs. IFN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley India Investment Fund (IIF) and Aberdeen India Fund (IFN). 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.
| IIF | IFN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 0.90 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | -0.50 | +0.09 |
| Martin ratioReturn relative to average drawdown | -0.93 | -1.04 | +0.11 |
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Drawdowns
IIF vs. IFN - Drawdown Comparison
The maximum IIF drawdown since its inception was -62.11%, smaller than the maximum IFN drawdown of -71.52%. Use the drawdown chart below to compare losses from any high point for IIF and IFN.
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Drawdown Indicators
| IIF | IFN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.11% | -71.52% | +9.41% |
Max Drawdown (1Y)Largest decline over 1 year | -22.52% | -22.99% | +0.47% |
Max Drawdown (3Y)Largest decline over 3 years | -24.05% | -31.53% | +7.48% |
Max Drawdown (5Y)Largest decline over 5 years | -24.05% | -31.53% | +7.48% |
Max Drawdown (10Y)Largest decline over 10 years | -59.05% | -41.48% | -17.57% |
Current DrawdownCurrent decline from peak | -12.67% | -23.64% | +10.97% |
Average DrawdownAverage peak-to-trough decline | -19.75% | -25.88% | +6.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.02% | 11.11% | -1.09% |
Volatility
IIF vs. IFN - Volatility Comparison
Morgan Stanley India Investment Fund (IIF) has a higher volatility of 4.15% compared to Aberdeen India Fund (IFN) at 3.30%. This indicates that IIF's price experiences larger fluctuations and is considered to be riskier than IFN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IIF | IFN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.15% | 3.30% | +0.85% |
Volatility (6M)Calculated over the trailing 6-month period | 13.94% | 14.15% | -0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.16% | 16.70% | -0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.83% | 17.77% | -1.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.77% | 18.88% | +0.89% |
IIF vs. IFN - Expense Ratio Comparison
IIF has a 0.01% expense ratio, which is lower than IFN's 0.01% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
IIF vs. IFN - Dividend Comparison
IIF's dividend yield for the trailing twelve months is around 8.65%, less than IFN's 18.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IFN Aberdeen India Fund | 18.58% | 16.09% | 14.60% | 8.97% | 21.47% | 15.21% | 9.77% | 11.57% | 22.25% | 12.11% | 7.97% | 8.02% |
IIF Morgan Stanley India Investment Fund | 8.65% | 7.95% | 10.67% | 14.61% | 19.62% | 3.75% | 0.02% | 0.14% | 30.40% | 15.23% | 4.46% | 0.16% |
Frequently Asked Questions
IIF and IFN have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IIF has higher volatility (4.15%) compared to IFN (3.30%). In terms of maximum drawdown, IIF dropped -62.11% vs IFN's -71.52%.
IIF currently has the higher Sharpe Ratio (-0.58 vs -0.69), 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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