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 Asia Pacific Equities fund tracking the S&P CNX Nifty Index. Both are passively managed. Over the past 10 years, IMVP returned 8.19%/yr vs 6.14%/yr for INDY. Their correlation of 0.94 suggests significant overlap in exposure. IMVP charges 0.78%/yr vs 0.94%/yr for INDY.
Performance
IMVP vs. INDY - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IMVP having a -16.08% return and INDY slightly higher at -15.38%. Over the past 10 years, IMVP has outperformed INDY with an annualized return of 8.19%, while INDY has yielded a comparatively lower 6.14% annualized return.
IMVP
- 1D
- -2.11%
- 1M
- -2.53%
- YTD
- -16.08%
- 6M
- -14.80%
- 1Y
- -16.87%
- 3Y*
- 2.95%
- 5Y*
- 2.42%
- 10Y*
- 8.19%
INDY
- 1D
- -1.35%
- 1M
- -3.23%
- YTD
- -15.38%
- 6M
- -14.03%
- 1Y
- -14.69%
- 3Y*
- 1.39%
- 5Y*
- 1.15%
- 10Y*
- 6.14%
IMVP vs. INDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IMVP Invesco India ETF | -16.08% | 1.30% | 9.07% | 22.82% | -9.35% | 23.68% | 18.41% | 14.26% | -7.55% | 38.51% |
INDY iShares India 50 ETF | -15.38% | 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 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 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.
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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.
| IMVP | INDY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 0.83 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | -0.78 | -0.01 |
| Martin ratioReturn relative to average drawdown | -1.84 | -1.78 | -0.06 |
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
| IMVP | INDY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.05 | -1.04 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.08 | +0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.31 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.21 | -0.10 |
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.
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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 | -21.44% | -18.95% | -2.49% |
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 | -23.71% | -21.00% | -2.71% |
Average DrawdownAverage peak-to-trough decline | -16.70% | -12.22% | -4.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.16% | 8.25% | +0.91% |
Volatility
IMVP vs. INDY - Volatility Comparison
Invesco India ETF (IMVP) has a higher volatility of 6.00% compared to iShares India 50 ETF (INDY) at 4.79%. This indicates that IMVP's price experiences larger fluctuations and is considered to be riskier than INDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IMVP | INDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.00% | 4.79% | +1.21% |
Volatility (6M)Calculated over the trailing 6-month period | 14.16% | 12.25% | +1.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.17% | 14.18% | +1.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.11% | 14.94% | +1.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.59% | 19.58% | +0.01% |
IMVP vs. INDY - Expense Ratio Comparison
IMVP has a 0.78% expense ratio, which is lower than INDY's 0.94% expense ratio.
Dividends
IMVP vs. INDY - Dividend Comparison
IMVP's dividend yield for the trailing twelve months is around 8.81%, less than INDY's 9.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IMVP Invesco India ETF | 8.81% | 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 | 9.58% | 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 0.92, 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.
IMVP has higher volatility (6.00%) compared to INDY (4.79%). In terms of maximum drawdown, IMVP dropped -64.54% vs INDY's -44.74%.
On 10-year performance, IMVP leads with 8.19% vs 6.14% for INDY. On fees, IMVP is cheaper at 0.78% per year. On volatility, INDY has been the lower-risk option at 4.79%. 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 8.19% return vs 6.14%. 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 0.94% for INDY.
INDY has the higher dividend yield at 9.58%, compared with 8.81% for IMVP.
IMVP is categorized as Emerging Markets Equities, while INDY is Asia Pacific Equities. IMVP tracks FTSE India Quality and Yield Select Index, while INDY tracks S&P CNX Nifty Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.78% for IMVP and 0.94% for INDY.
INDY currently has the higher Sharpe Ratio (-1.04 vs -1.05), 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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