IIF vs. IFN
Compare and contrast key facts about Morgan Stanley India Investment Fund (IIF) and The India Fund (IFN).
IIF is managed by Morgan Stanley. It was launched on Feb 25, 1994. IFN is managed by India Fund. It was launched on Feb 25, 1994.
Performance
IIF vs. IFN - Performance Comparison
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IIF vs. IFN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IIF Morgan Stanley India Investment Fund | -17.61% | 6.71% | 29.65% | 21.43% | -9.55% | 30.87% | 6.66% | -0.66% | -21.25% | 49.89% |
IFN The India Fund | -14.65% | 0.42% | -2.26% | 36.48% | -15.85% | 22.31% | 12.25% | 11.27% | -5.33% | 37.15% |
Returns By Period
In the year-to-date period, IIF achieves a -17.61% return, which is significantly lower than IFN's -14.65% return. Over the past 10 years, IIF has outperformed IFN with an annualized return of 8.11%, while IFN has yielded a comparatively lower 6.77% annualized return.
IIF
- 1D
- 3.11%
- 1M
- -13.71%
- YTD
- -17.61%
- 6M
- -15.69%
- 1Y
- -8.91%
- 3Y*
- 13.02%
- 5Y*
- 8.09%
- 10Y*
- 8.11%
IFN
- 1D
- 4.24%
- 1M
- -14.95%
- YTD
- -14.65%
- 6M
- -15.07%
- 1Y
- -16.89%
- 3Y*
- 2.90%
- 5Y*
- 1.01%
- 10Y*
- 6.77%
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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%.
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 The 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.
| IIF | IFN | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.54 | -0.91 | +0.37 |
Sortino ratioReturn per unit of downside risk | -0.68 | -1.21 | +0.53 |
Omega ratioGain probability vs. loss probability | 0.92 | 0.85 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | -0.38 | -0.63 | +0.26 |
Martin ratioReturn relative to average drawdown | -1.27 | -1.94 | +0.68 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IIF | IFN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.54 | -0.91 | +0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.06 | +0.46 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | 0.36 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.38 | 0.23 | +0.15 |
Correlation
The correlation between IIF and IFN is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
IIF vs. IFN - Dividend Comparison
IIF's dividend yield for the trailing twelve months is around 9.65%, less than IFN's 19.40% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IIF Morgan Stanley India Investment Fund | 9.65% | 7.95% | 10.67% | 14.61% | 19.62% | 3.75% | 0.02% | 0.14% | 30.40% | 15.23% | 4.46% | 0.16% |
IFN The India Fund | 19.40% | 16.09% | 14.60% | 8.97% | 21.47% | 15.21% | 9.77% | 11.57% | 22.25% | 12.11% | 7.97% | 8.02% |
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 | -24.05% | -26.05% | +2.00% |
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 | -21.69% | -28.63% | +6.94% |
Average DrawdownAverage peak-to-trough decline | -19.79% | -25.89% | +6.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.12% | 8.47% | -1.35% |
Volatility
IIF vs. IFN - Volatility Comparison
Morgan Stanley India Investment Fund (IIF) and The India Fund (IFN) have volatilities of 7.10% and 7.42%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. 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 | 7.10% | 7.42% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 11.23% | 12.47% | -1.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.69% | 18.71% | -2.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.67% | 17.59% | -1.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.74% | 18.89% | +0.85% |