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INDA vs. AVDV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

INDA vs. AVDV

Last updated Jun 13, 2026

INDA (iShares MSCI India ETF) and AVDV (Avantis International Small Cap Value ETF) are both exchange-traded funds - INDA is a Asia Pacific Equities fund tracking the MSCI India Index, while AVDV is a Foreign Small & Mid Cap Equities fund actively managed by Avantis. INDA is passively managed, while AVDV is actively managed. Over the past 5 years, INDA returned 2.79%/yr vs 13.63%/yr for AVDV. A 0.58 correlation means they provide meaningful diversification when combined. INDA charges 0.69%/yr vs 0.36%/yr for AVDV.

Performance

INDA vs. AVDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI India ETF (INDA) and Avantis International Small Cap Value ETF (AVDV). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, INDA achieves a -10.58% return, which is significantly lower than AVDV's 14.99% return.

INDA

1D
1.13%
1M
0.73%
YTD
-10.58%
6M
-9.05%
1Y
-11.81%
3Y*
4.51%
5Y*
2.79%
10Y*
7.09%

AVDV

1D
0.89%
1M
-1.95%
YTD
14.99%
6M
17.18%
1Y
40.93%
3Y*
26.72%
5Y*
13.63%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

INDA vs. AVDV - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
INDA
iShares MSCI India ETF		-10.58%2.68%8.63%17.16%-8.94%21.36%14.83%5.59%
AVDV
Avantis International Small Cap Value ETF		14.99%49.37%8.67%16.85%-11.47%15.80%5.01%11.78%

Correlation

The correlation between INDA and AVDV is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.48

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

0.48

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

0.56

Correlation (All Time)
Calculated using the full available price history since Sep 26, 2019

0.58

The correlation between INDA and AVDV has been stable across timeframes, ranging from 0.48 to 0.58 - a consistent structural relationship.

INDA vs. AVDV - Sectors Allocation Comparison

Sectors
INDA
AVDV

Financial Services

28.4%
13.7%

Consumer Cyclical

12.5%
14.4%

Industrials

10.3%
21.3%

Energy

9.5%
10.8%

Technology

8.3%
6.4%

Basic Materials

8.0%
22.5%

Consumer Defensive

6.2%
3.4%

Healthcare

6.2%
2.1%

Communication Services

4.7%
2.0%

Utilities

4.6%
1.7%

Real Estate

1.4%
1.1%

Financial Services

INDA
28.4%
AVDV
13.7%

Consumer Cyclical

INDA
12.5%
AVDV
14.4%

Industrials

INDA
10.3%
AVDV
21.3%

Energy

INDA
9.5%
AVDV
10.8%

Technology

INDA
8.3%
AVDV
6.4%

Basic Materials

INDA
8.0%
AVDV
22.5%

Consumer Defensive

INDA
6.2%
AVDV
3.4%

Healthcare

INDA
6.2%
AVDV
2.1%

Communication Services

INDA
4.7%
AVDV
2.0%

Utilities

INDA
4.6%
AVDV
1.7%

Real Estate

INDA
1.4%
AVDV
1.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI India ETF

Avantis International Small Cap Value ETF

Often compared with INDA:
INDA vs. FLININDA vs. INDYINDA vs. EPIINDA vs. SMININDA vs. VOOINDA vs. MCHIINDA vs. VNM
Often compared with AVDV:
AVDV vs. VXUSAVDV vs. AVDEAVDV vs. VSSAVDV vs. DISVXAVDV vs. AVDVXAVDV vs. ISVLAVDV vs. AVIV

Return for Risk

INDA vs. AVDV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
INDA
INDA Risk / Return Rank: 33
Overall Rank
INDA Sharpe Ratio Rank: 33
Sharpe Ratio Rank
INDA Sortino Ratio Rank: 33
Sortino Ratio Rank
INDA Omega Ratio Rank: 33
Omega Ratio Rank
INDA Calmar Ratio Rank: 44
Calmar Ratio Rank
INDA Martin Ratio Rank: 22
Martin Ratio Rank
AVDV
AVDV Risk / Return Rank: 8181
Overall Rank
AVDV Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
AVDV Sortino Ratio Rank: 8686
Sortino Ratio Rank
AVDV Omega Ratio Rank: 8686
Omega Ratio Rank
AVDV Calmar Ratio Rank: 7171
Calmar Ratio Rank
AVDV Martin Ratio Rank: 7676
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.

INDA vs. AVDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India ETF (INDA) and Avantis International Small Cap Value ETF (AVDV). 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.

INDAAVDVDifference
Sharpe ratioReturn per unit of total volatility
-0.80
2.53

-3.34

Sortino ratioReturn per unit of downside risk
-1.10
3.36

-4.46

Omega ratioGain probability vs. loss probability

0.88

1.46

-0.58

Calmar ratioReturn relative to maximum drawdown

-0.63

3.12

-3.75

Martin ratioReturn relative to average drawdown

-1.46

12.44

-13.91

INDA vs. AVDV - Sharpe Ratio Comparison

The current INDA Sharpe Ratio is -0.80, which is lower than the AVDV Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of INDA and AVDV, 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

INDA vs. AVDV - Drawdown Comparison

The maximum INDA drawdown since its inception was -45.07%, roughly equal to the maximum AVDV drawdown of -43.01%. Use the drawdown chart below to compare losses from any high point for INDA and AVDV.

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Drawdown Indicators

INDAAVDVDifference

Max Drawdown

Largest peak-to-trough decline

-45.07%

-43.01%

-2.06%

Max Drawdown (1Y)

Largest decline over 1 year

-18.69%

-13.19%

-5.50%

Max Drawdown (3Y)

Largest decline over 3 years

-22.72%

-14.17%

-8.55%

Max Drawdown (5Y)

Largest decline over 5 years

-22.72%

-28.08%

+5.36%

Max Drawdown (10Y)

Largest decline over 10 years

-45.07%

—

—

Current Drawdown

Current decline from peak

-17.77%

-2.24%

-15.53%

Average Drawdown

Average peak-to-trough decline

-9.59%

-6.76%

-2.83%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.09%

3.30%

+4.79%

Volatility

INDA vs. AVDV - Volatility Comparison

The current volatility for iShares MSCI India ETF (INDA) is 4.16%, while Avantis International Small Cap Value ETF (AVDV) has a volatility of 6.26%. This indicates that INDA experiences smaller price fluctuations and is considered to be less risky than AVDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

INDAAVDVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.16%

6.26%

-2.10%

Volatility (6M)

Calculated over the trailing 6-month period

12.77%

13.88%

-1.11%

Volatility (1Y)

Calculated over the trailing 1-year period

14.79%

16.25%

-1.46%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.40%

17.41%

-2.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.11%

19.77%

+1.34%

INDA vs. AVDV - Expense Ratio Comparison

INDA has a 0.69% expense ratio, which is higher than AVDV's 0.36% expense ratio.

Dividends

INDA vs. AVDV - Dividend Comparison

INDA has not paid dividends to shareholders, while AVDV's dividend yield for the trailing twelve months is around 4.11%.

PositionTTM20252024202320222021202020192018201720162015
AVDV
Avantis International Small Cap Value ETF		4.11%3.05%4.31%3.29%3.17%2.39%1.67%0.36%0.00%0.00%0.00%0.00%
INDA
iShares MSCI India ETF		0.00%0.00%0.76%0.16%0.00%6.44%0.27%0.99%0.94%1.09%0.90%1.19%

Frequently Asked Questions

INDA and AVDV have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

AVDV has higher volatility (6.26%) compared to INDA (4.16%). In terms of maximum drawdown, INDA dropped -45.07% vs AVDV's -43.01%.

On 5-year performance, AVDV leads with 13.63% vs 2.79% for INDA. On fees, AVDV is cheaper at 0.36% per year. On volatility, INDA has been the lower-risk option at 4.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, AVDV has performed better with a 13.63% return vs 2.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

AVDV is cheaper with a 0.36% expense ratio, compared with 0.69% for INDA.

AVDV has the higher dividend yield at 4.11%, compared with 0.00% for INDA.

INDA is categorized as Asia Pacific Equities, while AVDV is Foreign Small & Mid Cap Equities. They also come from different issuers: iShares and Avantis. Their fees differ too: 0.69% for INDA and 0.36% for AVDV.

AVDV currently has the higher Sharpe Ratio (2.53 vs -0.80), 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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