INDA vs. ^NIFTY200

Last updated Apr 2, 2026

Compare and contrast key facts about iShares MSCI India ETF (INDA) and NIFTY 200 (^NIFTY200).

INDA is a passively managed fund by iShares that tracks the performance of the MSCI India Index. It was launched on Feb 2, 2012.

Performance

INDA vs. ^NIFTY200 - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI India ETF (INDA) and NIFTY 200 (^NIFTY200). The values are adjusted to include any dividend payments, if applicable.

INDA vs. ^NIFTY200 - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
INDA iShares MSCI India ETF	-13.58%	2.68%	8.63%	17.16%	-8.94%	21.36%	14.83%	6.49%	-6.67%	36.08%
^NIFTY200 NIFTY 200	-15.63%	3.23%	10.51%	22.85%	-6.72%	24.95%	13.11%	5.95%	-9.29%	42.05%

Different Trading Currencies

INDA is traded in USD, while ^NIFTY200 is traded in INR. To make them comparable, the ^NIFTY200 values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, INDA achieves a -13.58% return, which is significantly higher than ^NIFTY200's -15.63% return. Over the past 10 years, INDA has underperformed ^NIFTY200 with an annualized return of 6.85%, while ^NIFTY200 has yielded a comparatively higher 8.40% annualized return.

INDA

• 1D: -0.28%
• 1M: -8.32%
• YTD: -13.58%
• 6M: -10.84%
• 1Y: -8.50%
• 3Y*: 6.19%
• 5Y*: 3.44%
• 10Y*: 6.85%

^NIFTY200

• 1D: 2.99%
• 1M: -10.31%
• YTD: -15.63%
• 6M: -12.66%
• 1Y: -8.82%
• 3Y*: 7.57%
• 5Y*: 5.17%
• 10Y*: 8.40%

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

Return for Risk

INDA vs. ^NIFTY200 — Risk / Return Rank

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

INDA

INDA Risk / Return Rank: 3
INDA Sharpe Ratio Rank: 3
INDA Sortino Ratio Rank: 3
INDA Omega Ratio Rank: 3
INDA Calmar Ratio Rank: 4
INDA Martin Ratio Rank: 1

^NIFTY200

^NIFTY200 Risk / Return Rank: 10
^NIFTY200 Sharpe Ratio Rank: 12
^NIFTY200 Sortino Ratio Rank: 11
^NIFTY200 Omega Ratio Rank: 11
^NIFTY200 Calmar Ratio Rank: 9
^NIFTY200 Martin Ratio Rank: 7

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.

INDA vs. ^NIFTY200 - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India ETF (INDA) and NIFTY 200 (^NIFTY200). 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.

	INDA	^NIFTY200	Difference
Sharpe ratio Return per unit of total volatility	-0.55	-0.55	0.00
Sortino ratio Return per unit of downside risk	-0.70	-0.68	-0.02
Omega ratio Gain probability vs. loss probability	0.92	0.92	0.00
Calmar ratio Return relative to maximum drawdown	-0.50	-0.52	+0.02
Martin ratio Return relative to average drawdown	-1.63	-1.82	+0.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INDA vs. ^NIFTY200 - Sharpe Ratio Comparison

The current INDA Sharpe Ratio is -0.55, which is comparable to the ^NIFTY200 Sharpe Ratio of -0.55. The chart below compares the historical Sharpe Ratios of INDA and ^NIFTY200, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	INDA	^NIFTY200	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.55	-0.55	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.33	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	0.47	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.23	0.00

Correlation

The correlation between INDA and ^NIFTY200 is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

INDA vs. ^NIFTY200 - Drawdown Comparison

The maximum INDA drawdown since its inception was -45.07%, smaller than the maximum ^NIFTY200 drawdown of -72.43%. Use the drawdown chart below to compare losses from any high point for INDA and ^NIFTY200.

Drawdown Indicators

	INDA	^NIFTY200	Difference
Max Drawdown Largest peak-to-trough decline	-45.07%	-64.04%	+18.97%
Max Drawdown (1Y) Largest decline over 1 year	-18.69%	-14.89%	-3.80%
Max Drawdown (5Y) Largest decline over 5 years	-22.72%	-18.15%	-4.57%
Max Drawdown (10Y) Largest decline over 10 years	-45.07%	-38.22%	-6.85%
Current Drawdown Current decline from peak	-20.53%	-13.99%	-6.54%
Average Drawdown Average peak-to-trough decline	-9.48%	-10.98%	+1.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.70%	3.60%	+2.10%

Volatility

INDA vs. ^NIFTY200 - Volatility Comparison

The current volatility for iShares MSCI India ETF (INDA) is 6.79%, while NIFTY 200 (^NIFTY200) has a volatility of 8.13%. This indicates that INDA experiences smaller price fluctuations and is considered to be less risky than ^NIFTY200 based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INDA	^NIFTY200	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.79%	8.13%	-1.34%
Volatility (6M) Calculated over the trailing 6-month period	10.88%	11.75%	-0.87%
Volatility (1Y) Calculated over the trailing 1-year period	15.58%	16.41%	-0.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.38%	15.75%	-0.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.12%	18.16%	+2.96%