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INCO vs. EPI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

INCO vs. EPI

Last updated Aug 2, 2026
Documentation

INCO (Columbia India Consumer ETF) and EPI (WisdomTree India Earnings Fund) are both India Equities funds - INCO tracks the Indxx India Consumer Index while EPI tracks the WisdomTree India Earnings Index. Both are passively managed. Over the past 10 years, INCO returned 8.23%/yr vs 8.68%/yr for EPI. Their 0.78 correlation means they have sometimes moved together and sometimes differently. INCO charges 0.75%/yr vs 0.84%/yr for EPI.

Performance

INCO vs. EPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia India Consumer ETF (INCO) and WisdomTree India Earnings Fund (EPI). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, INCO achieves a -5.05% return, which is significantly higher than EPI's -7.13% return. Over the past 10 years, INCO has underperformed EPI with an annualized return of 8.23%, while EPI has yielded a comparatively higher 8.68% annualized return.

INCO

1D
-0.53%
1M
1.94%
6M
0.46%
YTD
-5.05%
1Y
-3.01%
3Y*
7.79%
5Y*
7.56%
10Y*
8.23%
ALL TIME*
9.46%

EPI

1D
0.07%
1M
0.16%
6M
-4.00%
YTD
-7.13%
1Y
-3.95%
3Y*
5.78%
5Y*
6.02%
10Y*
8.68%
ALL TIME*
3.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EPI

WisdomTree India Earnings Fund
$17.75M$16.45M$21.29M

INCO

Columbia India Consumer ETF
$2.47M$2.13M$2.03M

INCO vs. EPI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
INCO
Columbia India Consumer ETF		-5.05%0.59%12.70%34.63%-7.01%19.28%14.55%-4.22%-10.81%53.28%
EPI
WisdomTree India Earnings Fund		-7.13%2.25%10.70%26.03%-4.74%26.41%18.55%1.53%-9.88%39.14%

Correlation

The correlation between INCO and EPI is 0.85, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.85

Correlation (3Y)
Balances recent behavior with more history.

0.81

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.83

Correlation (10Y)
Provides a long-term view across more market conditions.

0.83

Correlation (All Time)
Calculated using the full available price history since Aug 10, 2011

0.78

The correlation between INCO and EPI has been stable across timeframes, ranging from 0.78 to 0.85 - a consistent structural relationship.

INCO vs. EPI - Sectors Allocation Comparison

Sectors
INCO
EPI

Consumer Cyclical

61.2%
7.7%

Consumer Defensive

36.0%
3.4%

Healthcare

2.0%
6.1%

Industrials

1.4%
10.1%

Technology

0.8%
7.5%

Basic Materials

-

14.3%

Communication Services

-

2.0%

Energy

-

15.6%

Financial Services

-

24.3%

Real Estate

-

0.9%

Utilities

-

8.0%

Consumer Cyclical

INCO
61.2%
EPI
7.7%

Consumer Defensive

INCO
36.0%
EPI
3.4%

Healthcare

INCO
2.0%
EPI
6.1%

Industrials

INCO
1.4%
EPI
10.1%

Technology

INCO
0.8%
EPI
7.5%

Basic Materials

INCO

-

EPI
14.3%

Communication Services

INCO

-

EPI
2.0%

Energy

INCO

-

EPI
15.6%

Financial Services

INCO

-

EPI
24.3%

Real Estate

INCO

-

EPI
0.9%

Utilities

INCO

-

EPI
8.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Columbia India Consumer ETF

WisdomTree India Earnings Fund

Often compared with INCO:
INCO vs. INDAINCO vs. INDYINCO vs. SMININCO vs. FLININCO vs. GLININCO vs. INQQINCO vs. NDIV
Often compared with EPI:
EPI vs. INDAEPI vs. FLINEPI vs. INDYEPI vs. SMINEPI vs. NFTYEPI vs. GLINEPI vs. SPY

Return for Risk

INCO vs. EPI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
INCO
INCO Risk / Return Rank: 99
Overall Rank
INCO Sharpe Ratio Rank: 99
Sharpe Ratio Rank
INCO Sortino Ratio Rank: 99
Sortino Ratio Rank
INCO Omega Ratio Rank: 99
Omega Ratio Rank
INCO Calmar Ratio Rank: 1010
Calmar Ratio Rank
INCO Martin Ratio Rank: 99
Martin Ratio Rank
EPI
EPI Risk / Return Rank: 77
Overall Rank
EPI Sharpe Ratio Rank: 77
Sharpe Ratio Rank
EPI Sortino Ratio Rank: 77
Sortino Ratio Rank
EPI Omega Ratio Rank: 77
Omega Ratio Rank
EPI Calmar Ratio Rank: 88
Calmar Ratio Rank
EPI Martin Ratio Rank: 77
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

INCO vs. EPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia India Consumer ETF (INCO) 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.

INCOEPIDifference
Sharpe ratioReturn per unit of total volatility
-0.11
-0.26

+0.15

Sortino ratioReturn per unit of downside risk
-0.03
-0.27

+0.23

Omega ratioGain probability vs. loss probability

1.00

0.97

+0.03

Calmar ratioReturn relative to maximum drawdown

-0.09

-0.25

+0.17

Martin ratioReturn relative to average drawdown

-0.19

-0.59

+0.40

INCO vs. EPI - Sharpe Ratio Comparison

The current INCO Sharpe Ratio is -0.11, which is higher than the EPI Sharpe Ratio of -0.26. The chart below compares the historical Sharpe Ratios of INCO and EPI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

INCO vs. EPI - Drawdown Comparison

The maximum INCO drawdown since its inception was -47.69%, smaller than the maximum EPI drawdown of -66.21%. Use the drawdown chart below to compare losses from any high point for INCO and EPI.

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Drawdown Indicators

INCOEPIDifference

Max Drawdown

Largest peak-to-trough decline

-47.69%

-66.21%

+18.52%

Max Drawdown (1Y)

Largest decline over 1 year

-21.37%

-15.69%

-5.68%

Max Drawdown (3Y)

Largest decline over 3 years

-29.98%

-21.89%

-8.09%

Max Drawdown (5Y)

Largest decline over 5 years

-29.98%

-21.89%

-8.09%

Max Drawdown (10Y)

Largest decline over 10 years

-47.69%

-50.29%

+2.60%

Current Drawdown

Current decline from peak

-19.14%

-15.19%

-3.95%

Average Drawdown

Average peak-to-trough decline

-10.69%

-18.63%

+7.94%

Ulcer Index

Depth and duration of drawdowns from previous peaks

9.66%

6.67%

+2.99%

Volatility

INCO vs. EPI - Volatility Comparison

Columbia India Consumer ETF (INCO) has a higher volatility of 3.96% compared to WisdomTree India Earnings Fund (EPI) at 3.62%. This indicates that INCO'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

INCOEPIDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.96%

3.62%

+0.34%

Volatility (6M)

Calculated over the trailing 6-month period

14.48%

13.01%

+1.47%

Volatility (1Y)

Calculated over the trailing 1-year period

17.24%

15.28%

+1.96%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.02%

16.29%

+0.73%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.30%

20.27%

+0.03%

INCO vs. EPI - Expense Ratio Comparison

INCO has a 0.75% expense ratio, which is lower than EPI's 0.84% expense ratio.

Dividends

INCO vs. EPI - Dividend Comparison

Neither INCO nor EPI has paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%
INCO
Columbia India Consumer ETF		0.00%0.00%2.88%3.81%10.57%6.25%0.34%0.28%0.12%0.05%0.09%0.00%

Frequently Asked Questions

INCO and EPI have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

INCO has higher volatility (3.96%) compared to EPI (3.62%). In terms of maximum drawdown, INCO dropped -47.69% vs EPI's -66.21%.

On 10-year performance, EPI leads with 8.68% vs 8.23% for INCO. On fees, INCO is cheaper at 0.75% per year. On volatility, EPI has been the lower-risk option at 3.62%. 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 8.68% return vs 8.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

INCO is cheaper with a 0.75% expense ratio, compared with 0.84% for EPI.

INCO and EPI have nearly identical dividend yields, around 0.00%.

INCO tracks Indxx India Consumer Index, while EPI tracks WisdomTree India Earnings Index. They also come from different issuers: Ameriprise Financial and WisdomTree. Their fees differ too: 0.75% for INCO and 0.84% for EPI.

INCO currently has the higher Sharpe Ratio (-0.11 vs -0.26), 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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