IMVP vs. TDEC

Last updated Jun 4, 2026

IMVP (Invesco India ETF) and TDEC (FT Vest Emerging Markets Buffer ETF - December) are both exchange-traded funds - IMVP is a Emerging Markets Equities fund tracking the FTSE India Quality and Yield Select Index, while TDEC is a Defined Outcome fund tracking the MSCI Emerging Markets. Both are passively managed. Over the past year, IMVP returned -16.87% vs 24.15% for TDEC. A 0.52 correlation means they provide meaningful diversification when combined. IMVP charges 0.78%/yr vs 0.95%/yr for TDEC.

Performance

IMVP vs. TDEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco India ETF (IMVP) and FT Vest Emerging Markets Buffer ETF - December (TDEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IMVP achieves a -16.08% return, which is significantly lower than TDEC's 9.14% 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%

TDEC

• 1D: -0.33%
• 1M: 1.54%
• YTD: 9.14%
• 6M: 11.08%
• 1Y: 24.15%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IMVP vs. TDEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IMVP Invesco India ETF	-16.08%	1.30%	-1.15%
TDEC FT Vest Emerging Markets Buffer ETF - December	9.14%	21.39%	-0.70%

Correlation

The correlation between IMVP and TDEC is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (All Time) Calculated using the full available price history since Dec 24, 2024	0.52

The correlation between IMVP and TDEC has been stable across timeframes, ranging from 0.51 to 0.52 - a consistent structural relationship.

Return for Risk

IMVP vs. TDEC — Risk / Return Rank

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

IMVP

IMVP Risk / Return Rank: 1
IMVP Sharpe Ratio Rank: 1
IMVP Sortino Ratio Rank: 2
IMVP Omega Ratio Rank: 2
IMVP Calmar Ratio Rank: 2
IMVP Martin Ratio Rank: 0

TDEC

TDEC Risk / Return Rank: 74
TDEC Sharpe Ratio Rank: 74
TDEC Sortino Ratio Rank: 75
TDEC Omega Ratio Rank: 87
TDEC Calmar Ratio Rank: 61
TDEC Martin Ratio Rank: 71

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. TDEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco India ETF (IMVP) and FT Vest Emerging Markets Buffer ETF - December (TDEC). 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	TDEC	Difference
Sharpe ratio: Return per unit of total volatility	-1.05	2.41	-3.45
Sortino ratio: Return per unit of downside risk	-1.46	3.34	-4.81
Omega ratio: Gain probability vs. loss probability	0.83	1.54	-0.70
Calmar ratio: Return relative to maximum drawdown	-0.79	2.97	-3.76
Martin ratio: Return relative to average drawdown	-1.84	13.07	-14.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IMVP vs. TDEC - Sharpe Ratio Comparison

The current IMVP Sharpe Ratio is -1.05, which is lower than the TDEC Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of IMVP and TDEC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IMVP	TDEC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-1.05	2.41	-3.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	1.81	-1.69

Drawdowns

IMVP vs. TDEC - Drawdown Comparison

The maximum IMVP drawdown since its inception was -64.54%, which is greater than TDEC's maximum drawdown of -10.30%. Use the drawdown chart below to compare losses from any high point for IMVP and TDEC.

Drawdown Indicators

	IMVP	TDEC	Difference
Max Drawdown Largest peak-to-trough decline	-64.54%	-10.30%	-54.24%
Max Drawdown (1Y) Largest decline over 1 year	-21.44%	-8.16%	-13.28%
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	-23.71%	-0.33%	-23.38%
Average Drawdown Average peak-to-trough decline	-16.70%	-1.04%	-15.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.16%	1.85%	+7.31%

Volatility

IMVP vs. TDEC - Volatility Comparison

Invesco India ETF (IMVP) has a higher volatility of 6.00% compared to FT Vest Emerging Markets Buffer ETF - December (TDEC) at 2.81%. This indicates that IMVP's price experiences larger fluctuations and is considered to be riskier than TDEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IMVP	TDEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.00%	2.81%	+3.19%
Volatility (6M) Calculated over the trailing 6-month period	14.16%	9.02%	+5.14%
Volatility (1Y) Calculated over the trailing 1-year period	16.17%	10.09%	+6.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.11%	11.75%	+4.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.59%	11.75%	+7.84%

IMVP vs. TDEC - Expense Ratio Comparison

IMVP has a 0.78% expense ratio, which is lower than TDEC's 0.95% expense ratio.

Dividends

IMVP vs. TDEC - Dividend Comparison

IMVP's dividend yield for the trailing twelve months is around 8.81%, while TDEC has not paid dividends to shareholders.

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%
TDEC FT Vest Emerging Markets Buffer ETF - December	0.00%	0.00%	0.00%	0.00%	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 TDEC in my portfolio?

IMVP and TDEC have a correlation of 0.51, 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 TDEC?

IMVP has higher volatility (6.00%) compared to TDEC (2.81%). In terms of maximum drawdown, IMVP dropped -64.54% vs TDEC's -10.30%.

Which ETF is better, IMVP or TDEC?

On 1-year performance, TDEC leads with 24.15% vs -16.87% for IMVP. On fees, IMVP is cheaper at 0.78% per year. On volatility, TDEC has been the lower-risk option at 2.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IMVP or TDEC?

Over the 1-year period, TDEC has performed better with a 24.15% return vs -16.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IMVP or TDEC?

IMVP is cheaper with a 0.78% expense ratio, compared with 0.95% for TDEC.

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

IMVP has the higher dividend yield at 8.81%, compared with 0.00% for TDEC.

What is the main difference between IMVP and TDEC?

IMVP is categorized as Emerging Markets Equities, while TDEC is Defined Outcome. IMVP tracks FTSE India Quality and Yield Select Index, while TDEC tracks MSCI Emerging Markets. They also come from different issuers: Invesco and FT Vest. Their fees differ too: 0.78% for IMVP and 0.95% for TDEC.

Which has better risk-adjusted returns?

TDEC currently has the higher Sharpe Ratio (2.41 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.