INDA vs. ^NIFTY200
INDA (iShares MSCI India ETF) is Asia Pacific Equities fund tracking the MSCI India Index, while ^NIFTY200 (NIFTY 200) is an index. Over the past 10 years, INDA returned 6.56%/yr vs 8.22%/yr for ^NIFTY200. A 0.71 correlation means they provide meaningful diversification when combined.
Performance
INDA vs. ^NIFTY200 - Performance Comparison
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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
The year-to-date returns for both stocks are quite close, with INDA having a -12.38% return and ^NIFTY200 slightly lower at -12.67%. Over the past 10 years, INDA has underperformed ^NIFTY200 with an annualized return of 6.56%, while ^NIFTY200 has yielded a comparatively higher 8.22% annualized return.
INDA
- 1D
- -1.39%
- 1M
- -2.61%
- YTD
- -12.38%
- 6M
- -11.33%
- 1Y
- -12.23%
- 3Y*
- 4.17%
- 5Y*
- 2.32%
- 10Y*
- 6.56%
^NIFTY200
- 1D
- -0.75%
- 1M
- -2.57%
- YTD
- -12.67%
- 6M
- -11.86%
- 1Y
- -11.77%
- 3Y*
- 6.11%
- 5Y*
- 4.40%
- 10Y*
- 8.22%
INDA vs. ^NIFTY200 - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INDA iShares MSCI India ETF | -12.38% | 2.68% | 8.63% | 17.16% | -8.94% | 21.36% | 14.83% | 6.49% | -6.67% | 36.08% |
^NIFTY200 NIFTY 200 | -12.67% | 3.23% | 10.51% | 22.85% | -6.72% | 24.95% | 13.11% | 5.95% | -9.29% | 42.05% |
Correlation
The correlation between INDA and ^NIFTY200 is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.65 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.71 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2012 | 0.71 |
The correlation between INDA and ^NIFTY200 has been stable across timeframes, ranging from 0.65 to 0.72 - a consistent structural relationship.
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Return for Risk
INDA vs. ^NIFTY200 — Risk / Return Rank
INDA
^NIFTY200
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 ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 0.88 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.66 | -0.58 | -0.08 |
| Martin ratioReturn relative to average drawdown | -1.59 | -1.47 | -0.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| INDA | ^NIFTY200 | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.84 | -0.77 | -0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.28 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | 0.46 | -0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.21 | +0.03 |
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.
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Drawdown Indicators
| INDA | ^NIFTY200 | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.07% | -72.43% | +27.36% |
Max Drawdown (1Y)Largest decline over 1 year | -18.69% | -20.69% | +2.00% |
Max Drawdown (3Y)Largest decline over 3 years | -22.72% | -25.06% | +2.34% |
Max Drawdown (5Y)Largest decline over 5 years | -22.72% | -25.06% | +2.34% |
Max Drawdown (10Y)Largest decline over 10 years | -45.07% | -45.71% | +0.64% |
Current DrawdownCurrent decline from peak | -19.42% | -20.11% | +0.69% |
Average DrawdownAverage peak-to-trough decline | -9.57% | -22.06% | +12.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.71% | 8.06% | -0.35% |
Volatility
INDA vs. ^NIFTY200 - Volatility Comparison
iShares MSCI India ETF (INDA) and NIFTY 200 (^NIFTY200) have volatilities of 5.26% and 5.02%, 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
| INDA | ^NIFTY200 | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.26% | 5.02% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 12.66% | 13.61% | -0.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.67% | 15.70% | -1.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.37% | 15.81% | -0.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.12% | 18.22% | +2.90% |
Frequently Asked Questions
INDA and ^NIFTY200 have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INDA has higher volatility (5.26%) compared to ^NIFTY200 (5.02%). In terms of maximum drawdown, INDA dropped -45.07% vs ^NIFTY200's -72.43%.
^NIFTY200 currently has the higher Sharpe Ratio (-0.77 vs -0.84), 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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