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IIND.L vs. NDIA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IIND.L vs. NDIA

Last updated Jun 5, 2026

IIND.L (iShares MSCI India UCITS ETF USD (Acc)) and NDIA (Global X Funds - Global X India Active ETF) are both Asia Pacific Equities funds. IIND.L is passively managed, while NDIA is actively managed. Over the past year, IIND.L returned -11.37% vs -10.16% for NDIA. Their correlation of 0.81 suggests significant overlap in exposure. IIND.L charges 0.65%/yr vs 0.76%/yr for NDIA.

Performance

IIND.L vs. NDIA - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in iShares MSCI India UCITS ETF USD (Acc) (IIND.L) and Global X Funds - Global X India Active ETF (NDIA). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

IIND.L is traded in GBP, while NDIA is traded in USD. To make them comparable, the NDIA values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, IIND.L achieves a -13.04% return, which is significantly lower than NDIA's -11.55% return.

IIND.L

1D
1.17%
1M
-1.77%
YTD
-13.04%
6M
-13.23%
1Y
-11.37%
3Y*
2.69%
5Y*
4.52%
10Y*
—

NDIA

1D
0.99%
1M
-2.26%
YTD
-11.55%
6M
-11.82%
1Y
-10.16%
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IIND.L vs. NDIA - Yearly Performance Comparison

2026 (YTD)202520242023
IIND.L
iShares MSCI India UCITS ETF USD (Acc)		-13.04%-2.93%11.04%14.31%
NDIA
Global X Funds - Global X India Active ETF		-11.55%-2.44%7.60%12.71%

Correlation

The correlation between IIND.L and NDIA is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.81

Correlation (All Time)
Calculated using the full available price history since Aug 21, 2023

0.81

The correlation between IIND.L and NDIA has been stable across timeframes, ranging from 0.81 to 0.81 - a consistent structural relationship.

IIND.L vs. NDIA - Sectors Allocation Comparison

Sectors
IIND.L
NDIA

Financial Services

28.3%
32.7%

Consumer Cyclical

12.5%
11.0%

Industrials

10.3%
10.3%

Energy

9.5%
9.9%

Technology

8.3%
7.1%

Basic Materials

8.0%
7.0%

Consumer Defensive

6.2%
6.3%

Healthcare

6.2%
3.4%

Communication Services

4.7%
5.6%

Utilities

4.6%
3.6%

Real Estate

1.4%
3.0%

Financial Services

IIND.L
28.3%
NDIA
32.7%

Consumer Cyclical

IIND.L
12.5%
NDIA
11.0%

Industrials

IIND.L
10.3%
NDIA
10.3%

Energy

IIND.L
9.5%
NDIA
9.9%

Technology

IIND.L
8.3%
NDIA
7.1%

Basic Materials

IIND.L
8.0%
NDIA
7.0%

Consumer Defensive

IIND.L
6.2%
NDIA
6.3%

Healthcare

IIND.L
6.2%
NDIA
3.4%

Communication Services

IIND.L
4.7%
NDIA
5.6%

Utilities

IIND.L
4.6%
NDIA
3.6%

Real Estate

IIND.L
1.4%
NDIA
3.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI India UCITS ETF USD (Acc)

Global X Funds - Global X India Active ETF

Often compared with IIND.L:
IIND.L vs. FRIN.LIIND.L vs. INDAIIND.L vs. QDV5.DEIIND.L vs. FLINIIND.L vs. IS3N.DEIIND.L vs. 2B77.DEIIND.L vs. SPY
Often compared with NDIA:
NDIA vs. INDANDIA vs. INDYNDIA vs. DGINNDIA vs. INCONDIA vs. EPINDIA vs. SPYNDIA vs. IITU.L

Return for Risk

IIND.L vs. NDIA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IIND.L
IIND.L Risk / Return Rank: 33
Overall Rank
IIND.L Sharpe Ratio Rank: 33
Sharpe Ratio Rank
IIND.L Sortino Ratio Rank: 33
Sortino Ratio Rank
IIND.L Omega Ratio Rank: 33
Omega Ratio Rank
IIND.L Calmar Ratio Rank: 44
Calmar Ratio Rank
IIND.L Martin Ratio Rank: 33
Martin Ratio Rank
NDIA
NDIA Risk / Return Rank: 33
Overall Rank
NDIA Sharpe Ratio Rank: 33
Sharpe Ratio Rank
NDIA Sortino Ratio Rank: 33
Sortino Ratio Rank
NDIA Omega Ratio Rank: 33
Omega Ratio Rank
NDIA Calmar Ratio Rank: 44
Calmar Ratio Rank
NDIA Martin Ratio Rank: 11
Martin Ratio Rank
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.

IIND.L vs. NDIA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India UCITS ETF USD (Acc) (IIND.L) and Global X Funds - Global X India Active ETF (NDIA). 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.

IIND.LNDIADifference
Sharpe ratioReturn per unit of total volatility
-0.72
-0.67

-0.05

Sortino ratioReturn per unit of downside risk
-0.96
-0.91

-0.05

Omega ratioGain probability vs. loss probability

0.89

0.90

-0.01

Calmar ratioReturn relative to maximum drawdown

-0.57

-0.60

+0.02

Martin ratioReturn relative to average drawdown

-1.28

-1.37

+0.09

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IIND.L vs. NDIA - Sharpe Ratio Comparison

The current IIND.L Sharpe Ratio is -0.72, which is comparable to the NDIA Sharpe Ratio of -0.67. The chart below compares the historical Sharpe Ratios of IIND.L and NDIA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IIND.LNDIADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.72

-0.67

-0.05

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.28

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.30

0.11

+0.20

Drawdowns

IIND.L vs. NDIA - Drawdown Comparison

The maximum IIND.L drawdown since its inception was -36.72%, which is greater than NDIA's maximum drawdown of -21.57%. Use the drawdown chart below to compare losses from any high point for IIND.L and NDIA.

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Drawdown Indicators

IIND.LNDIADifference

Max Drawdown

Largest peak-to-trough decline

-36.72%

-21.57%

-15.15%

Max Drawdown (1Y)

Largest decline over 1 year

-19.77%

-17.05%

-2.72%

Max Drawdown (3Y)

Largest decline over 3 years

-24.77%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-24.77%

—

—

Current Drawdown

Current decline from peak

-21.93%

-19.25%

-2.68%

Average Drawdown

Average peak-to-trough decline

-7.75%

-6.80%

-0.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.85%

7.40%

+1.45%

Volatility

IIND.L vs. NDIA - Volatility Comparison

iShares MSCI India UCITS ETF USD (Acc) (IIND.L) and Global X Funds - Global X India Active ETF (NDIA) have volatilities of 6.07% and 5.98%, 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

IIND.LNDIADifference

Volatility (1M)

Calculated over the trailing 1-month period

6.07%

5.98%

+0.09%

Volatility (6M)

Calculated over the trailing 6-month period

13.29%

13.01%

+0.28%

Volatility (1Y)

Calculated over the trailing 1-year period

15.71%

15.26%

+0.45%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.11%

15.42%

+0.69%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.76%

15.42%

+5.34%

IIND.L vs. NDIA - Expense Ratio Comparison

IIND.L has a 0.65% expense ratio, which is lower than NDIA's 0.76% expense ratio.

Dividends

IIND.L vs. NDIA - Dividend Comparison

IIND.L has not paid dividends to shareholders, while NDIA's dividend yield for the trailing twelve months is around 1.25%.

PositionTTM202520242023
IIND.L
iShares MSCI India UCITS ETF USD (Acc)		0.00%0.00%0.00%0.00%
NDIA
Global X Funds - Global X India Active ETF		1.25%1.10%3.66%0.28%

Frequently Asked Questions

IIND.L and NDIA have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IIND.L is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IIND.L is cheaper with a 0.65% expense ratio, compared with 0.76% for NDIA.

They also come from different issuers: iShares and Global X. Their fees differ too: 0.65% for IIND.L and 0.76% for NDIA.

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