INCO vs. INQQ

Last updated Aug 5, 2026

INCO (Columbia India Consumer ETF) and INQQ (INQQ The India Internet ETF) are both India Equities funds - INCO tracks the Indxx India Consumer Index while INQQ tracks the INQQ The India Internet & Ecommerce Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, INCO returned 8.77%/yr vs 3.51%/yr for INQQ. Their 0.71 correlation means they have sometimes moved together and sometimes differently. INCO charges 0.75%/yr vs 0.86%/yr for INQQ.

Performance

INCO vs. INQQ - Performance Comparison

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

Returns By Period

In the year-to-date period, INCO achieves a -3.38% return, which is significantly higher than INQQ's -6.23% return.

INCO

• 1D: 0.79%
• 1M: 3.73%
• 6M: -0.78%
• YTD: -3.38%
• 1Y: -0.67%
• 3Y*: 8.77%
• 5Y*: 7.57%
• 10Y*: 8.30%
• ALL TIME*: 9.58%

INQQ

• 1D: 0.83%
• 1M: 5.16%
• 6M: 0.49%
• YTD: -6.23%
• 1Y: -10.12%
• 3Y*: 3.51%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -2.63%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
INCO Columbia India Consumer ETF	$2.25M	$1.88M	$1.90M
INQQ INQQ The India Internet ETF	$191.06K	$267.49K	$380.42K

INCO vs. INQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
INCO Columbia India Consumer ETF	-3.38%	0.59%	12.70%	34.63%	-2.91%
INQQ INQQ The India Internet ETF	-6.23%	-7.05%	19.12%	31.45%	-34.72%

Correlation

The correlation between INCO and INQQ is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.77
Correlation (3Y) Balances recent behavior with more history.	0.73
Correlation (All Time) Calculated using the full available price history since Apr 6, 2022	0.71

The correlation between INCO and INQQ has been stable across timeframes, ranging from 0.71 to 0.77 - a consistent structural relationship.

INCO vs. INQQ - Sectors Allocation Comparison

Sectors	INCO	INQQ
Consumer Cyclical	61.2%	35.9%
Consumer Defensive	36.0%	1.6%
Healthcare	2.0%	4.7%
Industrials	1.4%	-
Technology	0.8%	10.5%
Basic Materials	-	-
Communication Services	-	9.6%
Energy	-	7.5%
Financial Services	-	30.2%
Real Estate	-	-
Utilities	-	-

Return for Risk

INCO vs. INQQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

INCO

INCO Risk / Return Rank: 10
INCO Sharpe Ratio Rank: 10
INCO Sortino Ratio Rank: 9
INCO Omega Ratio Rank: 9
INCO Calmar Ratio Rank: 10
INCO Martin Ratio Rank: 10

INQQ

INQQ Risk / Return Rank: 5
INQQ Sharpe Ratio Rank: 4
INQQ Sortino Ratio Rank: 4
INQQ Omega Ratio Rank: 4
INQQ Calmar Ratio Rank: 6
INQQ Martin Ratio Rank: 6

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. INQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia India Consumer ETF (INCO) and INQQ The India Internet ETF (INQQ). 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	INQQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.04	-0.55	+0.51
Sortino ratio: Return per unit of downside risk	0.07	-0.70	+0.77
Omega ratio: Gain probability vs. loss probability	1.01	0.92	+0.09
Calmar ratio: Return relative to maximum drawdown	-0.03	-0.34	+0.31
Martin ratio: Return relative to average drawdown	-0.07	-0.62	+0.55

INCO vs. INQQ - Sharpe Ratio Comparison

The current INCO Sharpe Ratio is -0.04, which is higher than the INQQ Sharpe Ratio of -0.55. The chart below compares the historical Sharpe Ratios of INCO and INQQ, 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

INCO vs. INQQ - Drawdown Comparison

The maximum INCO drawdown since its inception was -47.69%, which is greater than INQQ's maximum drawdown of -40.53%. Use the drawdown chart below to compare losses from any high point for INCO and INQQ.

Drawdown Indicators

	INCO	INQQ	Difference
Max Drawdown Largest peak-to-trough decline	-47.69%	-40.53%	-7.16%
Max Drawdown (1Y) Largest decline over 1 year	-21.37%	-30.07%	+8.70%
Max Drawdown (3Y) Largest decline over 3 years	-29.98%	-32.45%	+2.47%
Max Drawdown (5Y) Largest decline over 5 years	-29.98%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-47.69%	—	—
Current Drawdown Current decline from peak	-17.72%	-17.48%	-0.24%
Average Drawdown Average peak-to-trough decline	-10.70%	-17.28%	+6.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.68%	16.26%	-6.58%

Volatility

INCO vs. INQQ - Volatility Comparison

The current volatility for Columbia India Consumer ETF (INCO) is 4.01%, while INQQ The India Internet ETF (INQQ) has a volatility of 6.17%. This indicates that INCO experiences smaller price fluctuations and is considered to be less risky than INQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INCO	INQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.01%	6.17%	-2.16%
Volatility (6M) Calculated over the trailing 6-month period	14.00%	15.54%	-1.54%
Volatility (1Y) Calculated over the trailing 1-year period	17.23%	18.41%	-1.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.99%	19.96%	-2.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.30%	19.96%	+0.34%

INCO vs. INQQ - Expense Ratio Comparison

INCO has a 0.75% expense ratio, which is lower than INQQ's 0.86% expense ratio.

Dividends

INCO vs. INQQ - Dividend Comparison

INCO has not paid dividends to shareholders, while INQQ's dividend yield for the trailing twelve months is around 2.38%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
INQQ INQQ The India Internet ETF	2.38%	2.23%	1.18%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both INCO and INQQ in my portfolio?

INCO and INQQ have a correlation of 0.77, 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 INQQ?

INQQ has higher volatility (6.17%) compared to INCO (4.01%). In terms of maximum drawdown, INCO dropped -47.69% vs INQQ's -40.53%.

Which ETF is better, INCO or INQQ?

On 3-year performance, INCO leads with 8.77% vs 3.51% for INQQ. On fees, INCO is cheaper at 0.75% per year. On volatility, INCO has been the lower-risk option at 4.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, INCO or INQQ?

Over the 3-year period, INCO has performed better with a 8.77% return vs 3.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, INCO or INQQ?

INCO is cheaper with a 0.75% expense ratio, compared with 0.86% for INQQ.

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

INQQ has the higher dividend yield at 2.38%, compared with 0.00% for INCO.

What is the main difference between INCO and INQQ?

INCO tracks Indxx India Consumer Index, while INQQ tracks INQQ The India Internet & Ecommerce Index - Benchmark TR Gross. They also come from different issuers: Ameriprise Financial and EMQQ Global. Their fees differ too: 0.75% for INCO and 0.86% for INQQ.

Which has better risk-adjusted returns?

INCO currently has the higher Sharpe Ratio (-0.04 vs -0.55), 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.