IMVP vs. NDIA

Last updated Jun 24, 2026

IMVP (Invesco India ETF) and NDIA (Global X Funds - Global X India Active ETF) are both exchange-traded funds - IMVP is a Emerging Markets Equities fund tracking the FTSE India Quality and Yield Select Index, while NDIA is a Asia Pacific Equities fund actively managed by Global X. IMVP is passively managed, while NDIA is actively managed. Over the past year, IMVP returned -15.46% vs -9.32% for NDIA. Their correlation of 0.88 suggests significant overlap in exposure. IMVP charges 0.78%/yr vs 0.76%/yr for NDIA.

Performance

IMVP vs. NDIA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco India ETF (IMVP) and Global X Funds - Global X India Active ETF (NDIA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IMVP achieves a -14.82% return, which is significantly lower than NDIA's -9.90% 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%

NDIA

• 1D: -1.85%
• 1M: 0.89%
• YTD: -9.90%
• 6M: -10.07%
• 1Y: -9.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IMVP vs. NDIA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IMVP Invesco India ETF	-14.82%	1.30%	9.07%	13.44%
NDIA Global X Funds - Global X India Active ETF	-9.90%	5.04%	5.75%	12.76%

Correlation

The correlation between IMVP and NDIA is 0.87, 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	0.87
Correlation (All Time) Calculated using the full available price history since Aug 18, 2023	0.88

The correlation between IMVP and NDIA has been stable across timeframes, ranging from 0.87 to 0.88 - a consistent structural relationship.

Return for Risk

IMVP vs. NDIA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IMVP

IMVP Risk / Return Rank: 2
IMVP Sharpe Ratio Rank: 2
IMVP Sortino Ratio Rank: 2
IMVP Omega Ratio Rank: 2
IMVP Calmar Ratio Rank: 3
IMVP Martin Ratio Rank: 1

NDIA

NDIA Risk / Return Rank: 4
NDIA Sharpe Ratio Rank: 4
NDIA Sortino Ratio Rank: 4
NDIA Omega Ratio Rank: 4
NDIA Calmar Ratio Rank: 5
NDIA Martin Ratio Rank: 3

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.

IMVP vs. NDIA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco India ETF (IMVP) 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.

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	NDIA	Difference
Sharpe ratio: Return per unit of total volatility	-0.94	-0.59	-0.36
Sortino ratio: Return per unit of downside risk	-1.30	-0.76	-0.53
Omega ratio: Gain probability vs. loss probability	0.85	0.91	-0.06
Calmar ratio: Return relative to maximum drawdown	-0.72	-0.52	-0.20
Martin ratio: Return relative to average drawdown	-1.54	-1.20	-0.34

IMVP vs. NDIA - Sharpe Ratio Comparison

The current IMVP Sharpe Ratio is -0.94, which is lower than the NDIA Sharpe Ratio of -0.59. The chart below compares the historical Sharpe Ratios of IMVP 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.

Drawdowns

IMVP vs. NDIA - Drawdown Comparison

The maximum IMVP drawdown since its inception was -64.54%, which is greater than NDIA's maximum drawdown of -22.05%. Use the drawdown chart below to compare losses from any high point for IMVP and NDIA.

Drawdown Indicators

	IMVP	NDIA	Difference
Max Drawdown Largest peak-to-trough decline	-64.54%	-22.05%	-42.49%
Max Drawdown (1Y) Largest decline over 1 year	-21.44%	-18.03%	-3.41%
Max Drawdown (3Y) Largest decline over 3 years	-25.80%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.80%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.69%	—	—
Current Drawdown Current decline from peak	-22.56%	-16.45%	-6.11%
Average Drawdown Average peak-to-trough decline	-16.72%	-7.24%	-9.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.05%	7.79%	+2.26%

Volatility

IMVP vs. NDIA - Volatility Comparison

Invesco India ETF (IMVP) has a higher volatility of 5.38% compared to Global X Funds - Global X India Active ETF (NDIA) at 4.43%. This indicates that IMVP's price experiences larger fluctuations and is considered to be riskier than NDIA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMVP	NDIA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.38%	4.43%	+0.95%
Volatility (6M) Calculated over the trailing 6-month period	14.55%	13.89%	+0.66%
Volatility (1Y) Calculated over the trailing 1-year period	16.44%	15.92%	+0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.18%	15.63%	+0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.54%	15.63%	+3.91%

IMVP vs. NDIA - Expense Ratio Comparison

IMVP has a 0.78% expense ratio, which is higher than NDIA's 0.76% expense ratio.

Dividends

IMVP vs. NDIA - Dividend Comparison

IMVP's dividend yield for the trailing twelve months is around 11.83%, more than NDIA's 1.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
NDIA Global X Funds - Global X India Active ETF	1.22%	1.10%	3.66%	0.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IMVP and NDIA in my portfolio?

IMVP and NDIA have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IMVP or NDIA?

IMVP has higher volatility (5.38%) compared to NDIA (4.43%). In terms of maximum drawdown, IMVP dropped -64.54% vs NDIA's -22.05%.

Which ETF is better, IMVP or NDIA?

On 1-year performance, NDIA leads with -9.32% vs -15.46% for IMVP. On fees, NDIA is cheaper at 0.76% per year. On volatility, NDIA has been the lower-risk option at 4.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IMVP or NDIA?

Over the 1-year period, NDIA has performed better with a -9.32% return vs -15.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IMVP or NDIA?

NDIA is cheaper with a 0.76% expense ratio, compared with 0.78% for IMVP.

Which ETF pays a higher dividend yield, IMVP or NDIA?

IMVP has the higher dividend yield at 11.83%, compared with 1.22% for NDIA.

What is the main difference between IMVP and NDIA?

IMVP is categorized as Emerging Markets Equities, while NDIA is Asia Pacific Equities. They also come from different issuers: Invesco and Global X. Their fees differ too: 0.78% for IMVP and 0.76% for NDIA.

Which has better risk-adjusted returns?

NDIA currently has the higher Sharpe Ratio (-0.59 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.