IIND.L vs. XMTW.L

Last updated Jun 26, 2026

IIND.L (iShares MSCI India UCITS ETF USD (Acc)) and XMTW.L (Xtrackers MSCI Taiwan UCITS ETF 1C) are both Asia Pacific Equities funds - IIND.L tracks the MSCI India NR USD while XMTW.L tracks the MSCI Taiwan NR USD. Both are passively managed. Over the past 5 years, IIND.L returned 5.67%/yr vs 22.98%/yr for XMTW.L. At a 0.41 correlation, their price movements are largely independent. Both charge a 0.65% expense ratio.

Performance

IIND.L vs. XMTW.L - 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 Xtrackers MSCI Taiwan UCITS ETF 1C (XMTW.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

IIND.L is traded in GBP, while XMTW.L is traded in GBp. To make them comparable, the XMTW.L 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 -7.70% return, which is significantly lower than XMTW.L's 68.87% return.

IIND.L

• 1D: -0.30%
• 1M: 5.01%
• YTD: -7.70%
• 6M: -7.45%
• 1Y: -7.83%
• 3Y*: 5.04%
• 5Y*: 5.67%
• 10Y*: —

XMTW.L

• 1D: -0.44%
• 1M: 4.06%
• YTD: 68.87%
• 6M: 72.82%
• 1Y: 106.56%
• 3Y*: 41.89%
• 5Y*: 22.98%
• 10Y*: 22.64%

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

IIND.L vs. XMTW.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
IIND.L iShares MSCI India UCITS ETF USD (Acc)	-7.70%	-2.94%	11.13%	12.43%	2.72%	26.95%	10.48%	3.72%	-21.95%
XMTW.L Xtrackers MSCI Taiwan UCITS ETF 1C	68.87%	23.98%	25.99%	21.66%	-21.11%	28.96%	32.40%	29.87%	-6.10%

Correlation

The correlation between IIND.L and XMTW.L is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (All Time) Calculated using the full available price history since May 29, 2018	0.41

The correlation between IIND.L and XMTW.L shifts across timeframes, from 0.29 (3 years) to 0.41 (all time), reflecting how their relationship changes across market environments.

IIND.L vs. XMTW.L - Sectors Allocation Comparison

Sectors	IIND.L	XMTW.L
Financial Services	30.2%	11.8%
Consumer Cyclical	12.2%	1.2%
Industrials	10.6%	2.8%
Energy	8.9%	-
Basic Materials	8.2%	2.4%
Technology	7.6%	78.9%
Healthcare	6.1%	0.6%
Consumer Defensive	5.7%	0.8%
Communication Services	5.1%	1.5%
Utilities	4.2%	-
Real Estate	1.3%	-

Return for Risk

IIND.L vs. XMTW.L — 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: 6
IIND.L Sharpe Ratio Rank: 6
IIND.L Sortino Ratio Rank: 5
IIND.L Omega Ratio Rank: 5
IIND.L Calmar Ratio Rank: 6
IIND.L Martin Ratio Rank: 6

XMTW.L

XMTW.L Risk / Return Rank: 97
XMTW.L Sharpe Ratio Rank: 97
XMTW.L Sortino Ratio Rank: 96
XMTW.L Omega Ratio Rank: 96
XMTW.L Calmar Ratio Rank: 98
XMTW.L Martin Ratio Rank: 96

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. XMTW.L - 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 Xtrackers MSCI Taiwan UCITS ETF 1C (XMTW.L). 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.

	IIND.L	XMTW.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.49	4.39	-4.87
Sortino ratio: Return per unit of downside risk	-0.61	4.96	-5.58
Omega ratio: Gain probability vs. loss probability	0.93	1.71	-0.78
Calmar ratio: Return relative to maximum drawdown	-0.39	11.70	-12.10
Martin ratio: Return relative to average drawdown	-0.82	30.79	-31.61

IIND.L vs. XMTW.L - Sharpe Ratio Comparison

The current IIND.L Sharpe Ratio is -0.49, which is lower than the XMTW.L Sharpe Ratio of 4.39. The chart below compares the historical Sharpe Ratios of IIND.L and XMTW.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IIND.L vs. XMTW.L - Drawdown Comparison

The maximum IIND.L drawdown since its inception was -45.07%, smaller than the maximum XMTW.L drawdown of -99.22%. Use the drawdown chart below to compare losses from any high point for IIND.L and XMTW.L.

Drawdown Indicators

	IIND.L	XMTW.L	Difference
Max Drawdown Largest peak-to-trough decline	-45.07%	-99.22%	+54.15%
Max Drawdown (1Y) Largest decline over 1 year	-19.76%	-9.05%	-10.71%
Max Drawdown (3Y) Largest decline over 3 years	-24.81%	-28.76%	+3.95%
Max Drawdown (5Y) Largest decline over 5 years	-24.81%	-30.18%	+5.37%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.18%	—
Current Drawdown Current decline from peak	-17.16%	-6.28%	-10.88%
Average Drawdown Average peak-to-trough decline	-13.05%	-22.20%	+9.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.51%	3.45%	+6.06%

Volatility

IIND.L vs. XMTW.L - Volatility Comparison

The current volatility for iShares MSCI India UCITS ETF USD (Acc) (IIND.L) is 5.37%, while Xtrackers MSCI Taiwan UCITS ETF 1C (XMTW.L) has a volatility of 10.56%. This indicates that IIND.L experiences smaller price fluctuations and is considered to be less risky than XMTW.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IIND.L	XMTW.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.37%	10.56%	-5.19%
Volatility (6M) Calculated over the trailing 6-month period	13.62%	20.21%	-6.59%
Volatility (1Y) Calculated over the trailing 1-year period	15.98%	24.17%	-8.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.35%	24.89%	-3.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.97%	22.35%	+2.62%

IIND.L vs. XMTW.L - Expense Ratio Comparison

Both IIND.L and XMTW.L have an expense ratio of 0.65%.

Dividends

IIND.L vs. XMTW.L - Dividend Comparison

Neither IIND.L nor XMTW.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both IIND.L and XMTW.L in my portfolio?

IIND.L and XMTW.L have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IIND.L or XMTW.L?

Both ETFs have the same 0.65% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IIND.L or XMTW.L?

IIND.L and XMTW.L have the same expense ratio: 0.65% per year.

What is the main difference between IIND.L and XMTW.L?

IIND.L tracks MSCI India NR USD, while XMTW.L tracks MSCI Taiwan NR USD. They also come from different issuers: iShares and Xtrackers.