IMVP vs. EPI
IMVP (Invesco India ETF) and EPI (WisdomTree India Earnings Fund) are both Emerging Markets Equities funds - IMVP tracks the FTSE India Quality and Yield Select Index while EPI tracks the WisdomTree India Earnings Index. Both are passively managed. Over the past 10 years, IMVP returned 8.82%/yr vs 9.68%/yr for EPI. With a 0.95 correlation, they move nearly in lockstep. IMVP charges 0.78%/yr vs 0.84%/yr for EPI.
Performance
IMVP vs. EPI - Performance Comparison
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Returns By Period
In the year-to-date period, IMVP achieves a -14.82% return, which is significantly lower than EPI's -7.84% return. Over the past 10 years, IMVP has underperformed EPI with an annualized return of 8.82%, while EPI has yielded a comparatively higher 9.68% annualized return.
IMVP
- 1D
- -2.33%
- 1M
- -0.92%
- YTD
- -14.82%
- 6M
- -15.38%
- 1Y
- -15.46%
- 3Y*
- 3.28%
- 5Y*
- 3.04%
- 10Y*
- 8.82%
EPI
- 1D
- -1.80%
- 1M
- 0.68%
- YTD
- -7.84%
- 6M
- -8.06%
- 1Y
- -7.64%
- 3Y*
- 7.99%
- 5Y*
- 6.29%
- 10Y*
- 9.68%
IMVP vs. EPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IMVP Invesco India ETF | -14.82% | 1.30% | 9.07% | 22.82% | -9.35% | 23.68% | 18.41% | 14.26% | -7.55% | 38.51% |
EPI WisdomTree India Earnings Fund | -7.84% | 2.25% | 10.70% | 26.03% | -4.74% | 26.41% | 18.55% | 1.53% | -9.88% | 39.14% |
Correlation
The correlation between IMVP and EPI is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2008 | 0.95 |
The correlation between IMVP and EPI has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.
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Return for Risk
IMVP vs. EPI — Risk / Return Rank
IMVP
EPI
IMVP vs. EPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco India ETF (IMVP) and WisdomTree India Earnings Fund (EPI). 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.
| IMVP | EPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 0.93 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | -0.72 | -0.45 | -0.27 |
| Martin ratioReturn relative to average drawdown | -1.54 | -1.05 | -0.50 |
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Drawdowns
IMVP vs. EPI - Drawdown Comparison
The maximum IMVP drawdown since its inception was -64.54%, roughly equal to the maximum EPI drawdown of -66.21%. Use the drawdown chart below to compare losses from any high point for IMVP and EPI.
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Drawdown Indicators
| IMVP | EPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.54% | -66.21% | +1.67% |
Max Drawdown (1Y)Largest decline over 1 year | -21.44% | -16.88% | -4.56% |
Max Drawdown (3Y)Largest decline over 3 years | -25.80% | -21.89% | -3.91% |
Max Drawdown (5Y)Largest decline over 5 years | -25.80% | -21.89% | -3.91% |
Max Drawdown (10Y)Largest decline over 10 years | -39.69% | -50.29% | +10.60% |
Current DrawdownCurrent decline from peak | -22.56% | -15.84% | -6.72% |
Average DrawdownAverage peak-to-trough decline | -16.72% | -18.64% | +1.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.05% | 7.33% | +2.72% |
Volatility
IMVP vs. EPI - Volatility Comparison
Invesco India ETF (IMVP) has a higher volatility of 5.38% compared to WisdomTree India Earnings Fund (EPI) at 4.49%. This indicates that IMVP's price experiences larger fluctuations and is considered to be riskier than EPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IMVP | EPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.38% | 4.49% | +0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 14.55% | 13.15% | +1.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.44% | 15.21% | +1.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.18% | 16.26% | -0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.54% | 20.30% | -0.76% |
IMVP vs. EPI - Expense Ratio Comparison
IMVP has a 0.78% expense ratio, which is lower than EPI's 0.84% expense ratio.
Dividends
IMVP vs. EPI - Dividend Comparison
IMVP's dividend yield for the trailing twelve months is around 11.83%, while EPI has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPI WisdomTree India Earnings Fund | 0.00% | 0.00% | 0.27% | 0.15% | 6.01% | 1.18% | 0.78% | 1.17% | 1.18% | 0.85% | 1.05% | 1.20% |
IMVP Invesco India ETF | 11.83% | 7.39% | 8.48% | 2.08% | 14.07% | 6.95% | 0.72% | 36.35% | 0.96% | 1.01% | 1.18% | 0.61% |
Frequently Asked Questions
With a correlation of 0.93, IMVP and EPI move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
IMVP has higher volatility (5.38%) compared to EPI (4.49%). In terms of maximum drawdown, IMVP dropped -64.54% vs EPI's -66.21%.
On 10-year performance, EPI leads with 9.68% vs 8.82% for IMVP. On fees, IMVP is cheaper at 0.78% per year. On volatility, EPI has been the lower-risk option at 4.49%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EPI has performed better with a 9.68% return vs 8.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IMVP is cheaper with a 0.78% expense ratio, compared with 0.84% for EPI.
IMVP has the higher dividend yield at 11.83%, compared with 0.00% for EPI.
IMVP tracks FTSE India Quality and Yield Select Index, while EPI tracks WisdomTree India Earnings Index. They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.78% for IMVP and 0.84% for EPI.
EPI currently has the higher Sharpe Ratio (-0.50 vs -0.94), 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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