INCO vs. VPL

Last updated Jun 25, 2026

INCO (Columbia India Consumer ETF) and VPL (Vanguard FTSE Pacific ETF) are both Asia Pacific Equities funds - INCO tracks the Indxx India Consumer Index while VPL tracks the FTSE Developed Asia Pacific Index. Both are passively managed. Over the past 10 years, INCO returned 8.95%/yr vs 10.82%/yr for VPL. At a 0.47 correlation, their price movements are largely independent. INCO charges 0.75%/yr vs 0.08%/yr for VPL.

Performance

INCO vs. VPL - Performance Comparison

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

Returns By Period

In the year-to-date period, INCO achieves a -8.49% return, which is significantly lower than VPL's 26.50% return. Over the past 10 years, INCO has underperformed VPL with an annualized return of 8.95%, while VPL has yielded a comparatively higher 10.82% annualized return.

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%

VPL

• 1D: 0.62%
• 1M: 2.19%
• YTD: 26.50%
• 6M: 26.34%
• 1Y: 46.63%
• 3Y*: 22.28%
• 5Y*: 9.89%
• 10Y*: 10.82%

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

INCO vs. VPL - 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%
VPL Vanguard FTSE Pacific ETF	26.50%	32.66%	1.68%	15.58%	-15.20%	1.10%	16.65%	18.16%	-14.40%	28.85%

Correlation

The correlation between INCO and VPL is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
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	0.49
Correlation (All Time) Calculated using the full available price history since Aug 10, 2011	0.47

INCO vs. VPL - Sectors Allocation Comparison

Sectors	INCO	VPL
Consumer Cyclical	59.9%	9.6%
Consumer Defensive	39.0%	3.5%
Industrials	1.4%	20.5%
Technology	1.2%	22.6%
Basic Materials	-	7.3%
Communication Services	-	4.8%
Energy	-	1.6%
Financial Services	-	19.3%
Healthcare	-	5.0%
Real Estate	-	4.3%
Utilities	-	1.6%

Return for Risk

INCO vs. VPL — Risk / Return Rank

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

INCO

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

VPL

VPL Risk / Return Rank: 73
VPL Sharpe Ratio Rank: 74
VPL Sortino Ratio Rank: 66
VPL Omega Ratio Rank: 75
VPL Calmar Ratio Rank: 76
VPL Martin Ratio Rank: 77

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. VPL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Columbia India Consumer ETF (INCO) and Vanguard FTSE Pacific ETF (VPL). 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	VPL	Difference
Sharpe ratio: Return per unit of total volatility	-0.43	2.11	-2.54
Sortino ratio: Return per unit of downside risk	-0.53	2.70	-3.23
Omega ratio: Gain probability vs. loss probability	0.94	1.40	-0.46
Calmar ratio: Return relative to maximum drawdown	-0.35	3.51	-3.86
Martin ratio: Return relative to average drawdown	-0.83	13.30	-14.13

INCO vs. VPL - Sharpe Ratio Comparison

The current INCO Sharpe Ratio is -0.43, which is lower than the VPL Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of INCO and VPL, 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. VPL - Drawdown Comparison

The maximum INCO drawdown since its inception was -47.69%, smaller than the maximum VPL drawdown of -55.49%. Use the drawdown chart below to compare losses from any high point for INCO and VPL.

Drawdown Indicators

	INCO	VPL	Difference
Max Drawdown Largest peak-to-trough decline	-47.69%	-55.49%	+7.80%
Max Drawdown (1Y) Largest decline over 1 year	-21.37%	-13.33%	-8.04%
Max Drawdown (3Y) Largest decline over 3 years	-29.98%	-16.35%	-13.63%
Max Drawdown (5Y) Largest decline over 5 years	-29.98%	-31.09%	+1.11%
Max Drawdown (10Y) Largest decline over 10 years	-47.69%	-33.90%	-13.79%
Current Drawdown Current decline from peak	-22.07%	-5.28%	-16.79%
Average Drawdown Average peak-to-trough decline	-10.62%	-11.61%	+0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.91%	3.52%	+5.39%

Volatility

INCO vs. VPL - Volatility Comparison

The current volatility for Columbia India Consumer ETF (INCO) is 5.21%, while Vanguard FTSE Pacific ETF (VPL) has a volatility of 11.91%. This indicates that INCO experiences smaller price fluctuations and is considered to be less risky than VPL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INCO	VPL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.21%	11.91%	-6.70%
Volatility (6M) Calculated over the trailing 6-month period	14.39%	19.95%	-5.56%
Volatility (1Y) Calculated over the trailing 1-year period	17.04%	22.25%	-5.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.98%	17.93%	-0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.30%	17.52%	+2.78%

INCO vs. VPL - Expense Ratio Comparison

INCO has a 0.75% expense ratio, which is higher than VPL's 0.08% expense ratio.

Dividends

INCO vs. VPL - Dividend Comparison

INCO has not paid dividends to shareholders, while VPL's dividend yield for the trailing twelve months is around 2.65%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VPL Vanguard FTSE Pacific ETF	2.65%	4.01%	3.15%	3.12%	2.75%	3.19%	1.81%	2.84%	3.06%	2.57%	2.65%	2.43%

Frequently Asked Questions

Can I hold both INCO and VPL in my portfolio?

INCO and VPL have a correlation of 0.41, 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 VPL?

VPL has higher volatility (11.91%) compared to INCO (5.21%). In terms of maximum drawdown, INCO dropped -47.69% vs VPL's -55.49%.

Which ETF is better, INCO or VPL?

On 10-year performance, VPL leads with 10.82% vs 8.95% for INCO. On fees, VPL is cheaper at 0.08% 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.

Which ETF has performed better, INCO or VPL?

Over the 10-year period, VPL has performed better with a 10.82% return vs 8.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, INCO or VPL?

VPL is cheaper with a 0.08% expense ratio, compared with 0.75% for INCO.

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

VPL has the higher dividend yield at 2.65%, compared with 0.00% for INCO.

What is the main difference between INCO and VPL?

INCO tracks Indxx India Consumer Index, while VPL tracks FTSE Developed Asia Pacific Index. They also come from different issuers: Ameriprise Financial and Vanguard. Their fees differ too: 0.75% for INCO and 0.08% for VPL.

Which has better risk-adjusted returns?

VPL currently has the higher Sharpe Ratio (2.11 vs -0.43), 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.