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INCO vs. IQLT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

INCO vs. IQLT

Last updated Jul 22, 2026
Documentation

INCO (Columbia India Consumer ETF) and IQLT (iShares MSCI Intl Quality Factor ETF) are both exchange-traded funds - INCO is a India Equities fund tracking the Indxx India Consumer Index, while IQLT is a Foreign Large Cap Equities fund tracking the MSCI World ex USA Sector Neutral Quality Index (Net). Both are passively managed. Over the past 10 years, INCO returned 8.08%/yr vs 9.70%/yr for IQLT. At a 0.45 correlation, their price movements are largely independent. INCO charges 0.75%/yr vs 0.30%/yr for IQLT.

Performance

INCO vs. IQLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Columbia India Consumer ETF (INCO) and iShares MSCI Intl Quality Factor ETF (IQLT). 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 -8.71% return, which is significantly lower than IQLT's 10.81% return. Over the past 10 years, INCO has underperformed IQLT with an annualized return of 8.08%, while IQLT has yielded a comparatively higher 9.70% annualized return.

INCO

1D
0.55%
1M
-1.11%
6M
-4.14%
YTD
-8.71%
1Y
-7.94%
3Y*
6.40%
5Y*
6.72%
10Y*
8.08%
ALL TIME*
9.20%

IQLT

1D
1.14%
1M
0.57%
6M
8.08%
YTD
10.81%
1Y
18.92%
3Y*
13.90%
5Y*
7.74%
10Y*
9.70%
ALL TIME*
8.55%
*Multi-year figures are annualized to reflect compound growth (CAGR)

INCO vs. IQLT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
INCO
Columbia India Consumer ETF		-8.71%0.59%12.70%34.63%-7.01%19.28%14.55%-4.22%-10.81%53.28%
IQLT
iShares MSCI Intl Quality Factor ETF		10.81%25.42%1.54%18.73%-15.22%12.94%12.48%28.18%-10.76%24.04%

Correlation

The correlation between INCO and IQLT is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.44

Correlation (3Y)
Calculated over the trailing 3-year period

0.41

Correlation (5Y)
Calculated over the trailing 5-year period

0.46

Correlation (10Y)
Calculated over the trailing 10-year period

0.48

Correlation (All Time)
Calculated using the full available price history since Jan 15, 2015

0.45

INCO vs. IQLT - Sectors Allocation Comparison

Sectors
INCO
IQLT

Consumer Cyclical

61.2%
8.0%

Consumer Defensive

36.0%
6.6%

Healthcare

2.0%
8.6%

Industrials

1.4%
17.8%

Technology

0.8%
12.7%

Basic Materials

-

6.7%

Communication Services

-

2.4%

Energy

-

5.2%

Financial Services

-

26.3%

Real Estate

-

1.5%

Utilities

-

3.7%

Consumer Cyclical

INCO
61.2%
IQLT
8.0%

Consumer Defensive

INCO
36.0%
IQLT
6.6%

Healthcare

INCO
2.0%
IQLT
8.6%

Industrials

INCO
1.4%
IQLT
17.8%

Technology

INCO
0.8%
IQLT
12.7%

Basic Materials

INCO

-

IQLT
6.7%

Communication Services

INCO

-

IQLT
2.4%

Energy

INCO

-

IQLT
5.2%

Financial Services

INCO

-

IQLT
26.3%

Real Estate

INCO

-

IQLT
1.5%

Utilities

INCO

-

IQLT
3.7%

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

iShares MSCI Intl Quality Factor ETF

Often compared with INCO:
INCO vs. INDAINCO vs. INDYINCO vs. SMININCO vs. FLININCO vs. EPIINCO vs. GLININCO vs. INQQ
Often compared with IQLT:
IQLT vs. VIGIIQLT vs. IEFAIQLT vs. SPYIQLT vs. QEFAIQLT vs. ACWXIQLT vs. VOOIQLT vs. DIHRX

Return for Risk

INCO vs. IQLT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
INCO
INCO Risk / Return Rank: 66
Overall Rank
INCO Sharpe Ratio Rank: 66
Sharpe Ratio Rank
INCO Sortino Ratio Rank: 55
Sortino Ratio Rank
INCO Omega Ratio Rank: 55
Omega Ratio Rank
INCO Calmar Ratio Rank: 77
Calmar Ratio Rank
INCO Martin Ratio Rank: 66
Martin Ratio Rank
IQLT
IQLT Risk / Return Rank: 4848
Overall Rank
IQLT Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
IQLT Sortino Ratio Rank: 4848
Sortino Ratio Rank
IQLT Omega Ratio Rank: 4444
Omega Ratio Rank
IQLT Calmar Ratio Rank: 4848
Calmar Ratio Rank
IQLT Martin Ratio Rank: 5555
Martin Ratio Rank
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. IQLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia India Consumer ETF (INCO) and iShares MSCI Intl Quality Factor ETF (IQLT). 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.

INCOIQLTDifference
Sharpe ratioReturn per unit of total volatility
-0.47
1.25

-1.72

Sortino ratioReturn per unit of downside risk
-0.58
1.84

-2.42

Omega ratioGain probability vs. loss probability

0.94

1.22

-0.28

Calmar ratioReturn relative to maximum drawdown

-0.37

1.83

-2.20

Martin ratioReturn relative to average drawdown

-0.84

6.95

-7.79

INCO vs. IQLT - Sharpe Ratio Comparison

The current INCO Sharpe Ratio is -0.47, which is lower than the IQLT Sharpe Ratio of 1.25. The chart below compares the historical Sharpe Ratios of INCO and IQLT, 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. IQLT - Drawdown Comparison

The maximum INCO drawdown since its inception was -47.69%, which is greater than IQLT's maximum drawdown of -32.21%. Use the drawdown chart below to compare losses from any high point for INCO and IQLT.

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Drawdown Indicators

INCOIQLTDifference

Max Drawdown

Largest peak-to-trough decline

-47.69%

-32.21%

-15.48%

Max Drawdown (1Y)

Largest decline over 1 year

-21.37%

-10.38%

-10.99%

Max Drawdown (3Y)

Largest decline over 3 years

-29.98%

-13.18%

-16.80%

Max Drawdown (5Y)

Largest decline over 5 years

-29.98%

-30.24%

+0.26%

Max Drawdown (10Y)

Largest decline over 10 years

-47.69%

-32.21%

-15.48%

Current Drawdown

Current decline from peak

-22.25%

-0.72%

-21.53%

Average Drawdown

Average peak-to-trough decline

-10.67%

-6.16%

-4.51%

Ulcer Index

Depth and duration of drawdowns from previous peaks

9.47%

2.73%

+6.74%

Volatility

INCO vs. IQLT - Volatility Comparison

The current volatility for Columbia India Consumer ETF (INCO) is 3.35%, while iShares MSCI Intl Quality Factor ETF (IQLT) has a volatility of 3.98%. This indicates that INCO experiences smaller price fluctuations and is considered to be less risky than IQLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

INCOIQLTDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.35%

3.98%

-0.63%

Volatility (6M)

Calculated over the trailing 6-month period

14.42%

12.95%

+1.47%

Volatility (1Y)

Calculated over the trailing 1-year period

17.08%

15.17%

+1.91%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.98%

16.55%

+0.43%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.29%

16.76%

+3.53%

INCO vs. IQLT - Expense Ratio Comparison

INCO has a 0.75% expense ratio, which is higher than IQLT's 0.30% expense ratio.

Dividends

INCO vs. IQLT - Dividend Comparison

INCO has not paid dividends to shareholders, while IQLT's dividend yield for the trailing twelve months is around 2.41%.

PositionTTM20252024202320222021202020192018201720162015
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%
IQLT
iShares MSCI Intl Quality Factor ETF		2.41%2.33%2.87%2.27%3.14%2.24%1.61%2.28%2.72%2.36%2.91%2.78%

Frequently Asked Questions

INCO and IQLT have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IQLT has higher volatility (3.98%) compared to INCO (3.35%). In terms of maximum drawdown, INCO dropped -47.69% vs IQLT's -32.21%.

On 10-year performance, IQLT leads with 9.70% vs 8.08% for INCO. On fees, IQLT is cheaper at 0.30% per year. On volatility, INCO has been the lower-risk option at 3.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IQLT has performed better with a 9.70% return vs 8.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IQLT is cheaper with a 0.30% expense ratio, compared with 0.75% for INCO.

IQLT has the higher dividend yield at 2.41%, compared with 0.00% for INCO.

INCO is categorized as India Equities, while IQLT is Foreign Large Cap Equities. INCO tracks Indxx India Consumer Index, while IQLT tracks MSCI World ex USA Sector Neutral Quality Index (Net). They also come from different issuers: Ameriprise Financial and iShares. Their fees differ too: 0.75% for INCO and 0.30% for IQLT.

IQLT currently has the higher Sharpe Ratio (1.25 vs -0.47), 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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