INCO vs. EPI

Last updated Jun 3, 2026

INCO (Columbia India Consumer ETF) and EPI (WisdomTree India Earnings Fund) are both Asia Pacific 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 8.36%/yr vs 9.14%/yr for EPI. A 0.78 correlation means they provide meaningful diversification when combined. 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.

Returns By Period

In the year-to-date period, INCO achieves a -10.88% return, which is significantly lower than EPI's -8.75% return. Over the past 10 years, INCO has underperformed EPI with an annualized return of 8.36%, while EPI has yielded a comparatively higher 9.14% annualized return.

INCO

• 1D: 0.57%
• 1M: -2.14%
• YTD: -10.88%
• 6M: -10.64%
• 1Y: -10.26%
• 3Y*: 6.91%
• 5Y*: 6.11%
• 10Y*: 8.36%

EPI

• 1D: 0.05%
• 1M: -2.45%
• YTD: -8.75%
• 6M: -7.57%
• 1Y: -9.24%
• 3Y*: 8.10%
• 5Y*: 5.97%
• 10Y*: 9.14%

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

INCO vs. EPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
INCO Columbia India Consumer ETF	-10.88%	0.59%	12.70%	34.63%	-7.01%	19.28%	14.55%	-4.22%	-10.81%	53.28%
EPI WisdomTree India Earnings Fund	-8.75%	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, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Aug 11, 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	59.3%	7.5%
Consumer Defensive	37.5%	3.5%
Technology	1.9%	8.3%
Industrials	1.4%	9.7%
Basic Materials	-	13.5%
Communication Services	-	2.0%
Energy	-	17.3%
Financial Services	-	23.4%
Healthcare	-	5.5%
Real Estate	-	0.9%
Utilities	-	8.4%

Return for Risk

INCO vs. EPI — Risk / Return Rank

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

INCO

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

EPI

EPI Risk / Return Rank: 3
EPI Sharpe Ratio Rank: 3
EPI Sortino Ratio Rank: 3
EPI Omega Ratio Rank: 3
EPI Calmar Ratio Rank: 4
EPI Martin Ratio Rank: 2

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.

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.

	INCO	EPI	Difference
Sharpe ratio Return per unit of total volatility	-0.62	-0.62	+0.01
Sortino ratio Return per unit of downside risk	-0.81	-0.81	+0.01
Omega ratio Gain probability vs. loss probability	0.91	0.91	0.00
Calmar ratio Return relative to maximum drawdown	-0.46	-0.51	+0.05
Martin ratio Return relative to average drawdown	-1.21	-1.27	+0.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INCO vs. EPI - Sharpe Ratio Comparison

The current INCO Sharpe Ratio is -0.62, which is comparable to the EPI Sharpe Ratio of -0.62. 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.

Sharpe Ratios by Period

	INCO	EPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.62	-0.62	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.37	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	0.45	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.14	+0.29

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.

Drawdown Indicators

	INCO	EPI	Difference
Max Drawdown Largest peak-to-trough decline	-47.69%	-66.21%	+18.52%
Max Drawdown (1Y) Largest decline over 1 year	-21.37%	-16.88%	-4.49%
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	-24.10%	-16.66%	-7.44%
Average Drawdown Average peak-to-trough decline	-10.57%	-18.65%	+8.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.24%	6.83%	+1.41%

Volatility

INCO vs. EPI - Volatility Comparison

Columbia India Consumer ETF (INCO) has a higher volatility of 5.73% compared to WisdomTree India Earnings Fund (EPI) at 4.79%. 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.

Volatility by Period

	INCO	EPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.73%	4.79%	+0.94%
Volatility (6M) Calculated over the trailing 6-month period	14.22%	12.75%	+1.47%
Volatility (1Y) Calculated over the trailing 1-year period	16.72%	14.89%	+1.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.87%	16.20%	+0.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.31%	20.35%	-0.04%

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.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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

Can I hold both INCO and EPI in my portfolio?

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.

Which is riskier, INCO or EPI?

INCO has higher volatility (5.73%) compared to EPI (4.79%). In terms of maximum drawdown, INCO dropped -47.69% vs EPI's -66.21%.

Which ETF is better, INCO or EPI?

On 10-year performance, EPI leads with 9.14% vs 8.36% for INCO. On fees, INCO is cheaper at 0.75% per year. On volatility, EPI has been the lower-risk option at 4.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, INCO or EPI?

Over the 10-year period, EPI has performed better with a 9.14% return vs 8.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, INCO or EPI?

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

Which ETF pays a higher dividend yield, INCO or EPI?

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

What is the main difference between INCO and EPI?

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.

Which has better risk-adjusted returns?

INCO currently has the higher Sharpe Ratio (-0.62 vs -0.62), 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.