IMVP vs. INDY
IMVP (Invesco India ETF) and INDY (iShares India 50 ETF) are both exchange-traded funds - IMVP is a Emerging Markets Equities fund tracking the FTSE India Quality and Yield Select Index, while INDY is a India Equities fund tracking the Nifty 50 Index. Both are passively managed. Over the past 10 years, IMVP returned 7.91%/yr vs 6.11%/yr for INDY. Their correlation of 0.94 suggests significant overlap in exposure. IMVP charges 0.78%/yr vs 0.65%/yr for INDY.
Performance
IMVP vs. INDY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IMVP achieves a -14.84% return, which is significantly lower than INDY's -12.52% return. Over the past 10 years, IMVP has outperformed INDY with an annualized return of 7.91%, while INDY has yielded a comparatively lower 6.11% annualized return.
IMVP
- 1D
- 0.02%
- 1M
- 1.23%
- 6M
- -13.85%
- YTD
- -14.84%
- 1Y
- -16.56%
- 3Y*
- 1.70%
- 5Y*
- 2.99%
- 10Y*
- 7.91%
INDY
- 1D
- -0.97%
- 1M
- 0.98%
- 6M
- -11.33%
- YTD
- -12.52%
- 1Y
- -12.90%
- 3Y*
- 1.02%
- 5Y*
- 2.19%
- 10Y*
- 6.11%
IMVP vs. INDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IMVP Invesco India ETF | -14.84% | 1.30% | 9.07% | 22.82% | -9.35% | 23.68% | 18.41% | 14.26% | -7.55% | 38.51% |
INDY iShares India 50 ETF | -12.52% | 4.97% | 3.47% | 16.88% | -7.31% | 19.43% | 10.01% | 9.99% | -4.32% | 36.15% |
Correlation
The correlation between IMVP and INDY is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2009 | 0.94 |
The correlation between IMVP and INDY has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IMVP vs. INDY — Risk / Return Rank
IMVP
INDY
IMVP vs. INDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco India ETF (IMVP) and iShares India 50 ETF (INDY). 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 | INDY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.15 | ||
| Omega ratioGain probability vs. loss probability | 0.84 | 0.86 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.81 | -0.72 | -0.10 |
| Martin ratioReturn relative to average drawdown | -1.67 | -1.49 | -0.17 |
Loading charts...
Drawdowns
IMVP vs. INDY - Drawdown Comparison
The maximum IMVP drawdown since its inception was -64.54%, which is greater than INDY's maximum drawdown of -44.74%. Use the drawdown chart below to compare losses from any high point for IMVP and INDY.
Loading charts...
Drawdown Indicators
| IMVP | INDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.54% | -44.74% | -19.80% |
Max Drawdown (1Y)Largest decline over 1 year | -20.45% | -18.09% | -2.36% |
Max Drawdown (3Y)Largest decline over 3 years | -25.80% | -22.40% | -3.40% |
Max Drawdown (5Y)Largest decline over 5 years | -25.80% | -22.40% | -3.40% |
Max Drawdown (10Y)Largest decline over 10 years | -39.69% | -43.50% | +3.81% |
Current DrawdownCurrent decline from peak | -22.58% | -18.33% | -4.25% |
Average DrawdownAverage peak-to-trough decline | -16.73% | -12.25% | -4.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.95% | 8.66% | +1.29% |
Volatility
IMVP vs. INDY - Volatility Comparison
The current volatility for Invesco India ETF (IMVP) is 3.86%, while iShares India 50 ETF (INDY) has a volatility of 4.17%. This indicates that IMVP experiences smaller price fluctuations and is considered to be less risky than INDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IMVP | INDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.86% | 4.17% | -0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 14.43% | 12.67% | +1.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.43% | 14.48% | +1.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.18% | 15.01% | +1.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.50% | 19.51% | -0.01% |
IMVP vs. INDY - Expense Ratio Comparison
IMVP has a 0.78% expense ratio, which is higher than INDY's 0.65% expense ratio.
Dividends
IMVP vs. INDY - Dividend Comparison
IMVP's dividend yield for the trailing twelve months is around 11.84%, more than INDY's 9.52% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IMVP Invesco India ETF | 11.84% | 7.39% | 8.48% | 2.08% | 14.07% | 6.95% | 0.72% | 36.35% | 0.96% | 1.01% | 1.18% | 0.61% |
INDY iShares India 50 ETF | 9.52% | 8.11% | 0.24% | 0.38% | 3.75% | 7.12% | 0.08% | 0.58% | 0.55% | 0.27% | 0.48% | 0.57% |
Frequently Asked Questions
With a correlation of 0.90, IMVP and INDY 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.
INDY has higher volatility (4.17%) compared to IMVP (3.86%). In terms of maximum drawdown, IMVP dropped -64.54% vs INDY's -44.74%.
On 10-year performance, IMVP leads with 7.91% vs 6.11% for INDY. On fees, INDY is cheaper at 0.65% per year. On volatility, IMVP has been the lower-risk option at 3.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IMVP has performed better with a 7.91% return vs 6.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
INDY is cheaper with a 0.65% expense ratio, compared with 0.78% for IMVP.
IMVP has the higher dividend yield at 11.84%, compared with 9.52% for INDY.
IMVP is categorized as Emerging Markets Equities, while INDY is India Equities. IMVP tracks FTSE India Quality and Yield Select Index, while INDY tracks Nifty 50 Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.78% for IMVP and 0.65% for INDY.
INDY currently has the higher Sharpe Ratio (-0.90 vs -1.01), 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.
Find the right allocation for IMVP and INDY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer