INCO vs. IMVP
INCO (Columbia India Consumer ETF) and IMVP (Invesco India ETF) are both exchange-traded funds - INCO is a Asia Pacific Equities fund tracking the Indxx India Consumer Index, while IMVP is a Emerging Markets Equities fund tracking the FTSE India Quality and Yield Select Index. Both are passively managed. Over the past 10 years, INCO returned 8.95%/yr vs 8.91%/yr for IMVP. A 0.77 correlation means they provide meaningful diversification when combined. INCO charges 0.75%/yr vs 0.78%/yr for IMVP.
Performance
INCO vs. IMVP - Performance Comparison
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Returns By Period
In the year-to-date period, INCO achieves a -8.49% return, which is significantly higher than IMVP's -14.10% return. Both investments have delivered pretty close results over the past 10 years, with INCO having a 8.95% annualized return and IMVP not far behind at 8.91%.
INCO
- 1D
- 0.26%
- 1M
- 2.61%
- YTD
- -8.49%
- 6M
- -7.75%
- 1Y
- -7.35%
- 3Y*
- 7.64%
- 5Y*
- 6.82%
- 10Y*
- 8.95%
IMVP
- 1D
- 0.84%
- 1M
- -0.09%
- YTD
- -14.10%
- 6M
- -14.07%
- 1Y
- -15.51%
- 3Y*
- 3.57%
- 5Y*
- 3.16%
- 10Y*
- 8.91%
INCO vs. IMVP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INCO Columbia India Consumer ETF | -8.49% | 0.59% | 12.70% | 34.63% | -7.01% | 19.28% | 14.55% | -4.22% | -10.81% | 53.28% |
IMVP Invesco India ETF | -14.10% | 1.30% | 9.07% | 22.82% | -9.35% | 23.68% | 18.41% | 14.26% | -7.55% | 38.51% |
Correlation
The correlation between INCO and IMVP is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.84 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2011 | 0.77 |
The correlation between INCO and IMVP has been stable across timeframes, ranging from 0.77 to 0.84 - a consistent structural relationship.
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Return for Risk
INCO vs. IMVP — Risk / Return Rank
INCO
IMVP
INCO vs. IMVP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Columbia India Consumer ETF (INCO) and Invesco India ETF (IMVP). 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.
| INCO | IMVP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.85 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.35 | -0.73 | +0.38 |
| Martin ratioReturn relative to average drawdown | -0.83 | -1.54 | +0.71 |
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Drawdowns
INCO vs. IMVP - Drawdown Comparison
The maximum INCO drawdown since its inception was -47.69%, smaller than the maximum IMVP drawdown of -64.54%. Use the drawdown chart below to compare losses from any high point for INCO and IMVP.
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Drawdown Indicators
| INCO | IMVP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.69% | -64.54% | +16.85% |
Max Drawdown (1Y)Largest decline over 1 year | -21.37% | -21.44% | +0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -29.98% | -25.80% | -4.18% |
Max Drawdown (5Y)Largest decline over 5 years | -29.98% | -25.80% | -4.18% |
Max Drawdown (10Y)Largest decline over 10 years | -47.69% | -39.69% | -8.00% |
Current DrawdownCurrent decline from peak | -22.07% | -21.91% | -0.16% |
Average DrawdownAverage peak-to-trough decline | -10.62% | -16.72% | +6.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.91% | 10.11% | -1.20% |
Volatility
INCO vs. IMVP - Volatility Comparison
Columbia India Consumer ETF (INCO) and Invesco India ETF (IMVP) have volatilities of 5.21% and 5.44%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INCO | IMVP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.21% | 5.44% | -0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 14.39% | 14.46% | -0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.04% | 16.45% | +0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.98% | 16.18% | +0.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.30% | 19.53% | +0.77% |
INCO vs. IMVP - Expense Ratio Comparison
INCO has a 0.75% expense ratio, which is lower than IMVP's 0.78% expense ratio.
Dividends
INCO vs. IMVP - Dividend Comparison
INCO has not paid dividends to shareholders, while IMVP's dividend yield for the trailing twelve months is around 11.73%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IMVP Invesco India ETF | 11.73% | 7.39% | 8.48% | 2.08% | 14.07% | 6.95% | 0.72% | 36.35% | 0.96% | 1.01% | 1.18% | 0.61% |
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 IMVP have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IMVP has higher volatility (5.44%) compared to INCO (5.21%). In terms of maximum drawdown, INCO dropped -47.69% vs IMVP's -64.54%.
On 10-year performance, INCO leads with 8.95% vs 8.91% for IMVP. On fees, INCO is cheaper at 0.75% per year. On volatility, INCO has been the lower-risk option at 5.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, INCO has performed better with a 8.95% return vs 8.91%. 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 0.78% for IMVP.
IMVP has the higher dividend yield at 11.73%, compared with 0.00% for INCO.
INCO is categorized as Asia Pacific Equities, while IMVP is Emerging Markets Equities. INCO tracks Indxx India Consumer Index, while IMVP tracks FTSE India Quality and Yield Select Index. They also come from different issuers: Ameriprise Financial and Invesco. Their fees differ too: 0.75% for INCO and 0.78% for IMVP.
INCO currently has the higher Sharpe Ratio (-0.43 vs -0.95), 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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