PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
INDA vs. BNDX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

INDA vs. BNDX

Last updated Jun 13, 2026

INDA (iShares MSCI India ETF) and BNDX (Vanguard Total International Bond ETF) are both exchange-traded funds - INDA is a Asia Pacific Equities fund tracking the MSCI India Index, while BNDX is a Global Bonds fund tracking the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). Both are passively managed. Over the past 10 years, INDA returned 7.09%/yr vs 1.72%/yr for BNDX. At a 0.05 correlation, their price movements are largely independent. INDA charges 0.69%/yr vs 0.07%/yr for BNDX.

Performance

INDA vs. BNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI India ETF (INDA) and Vanguard Total International Bond ETF (BNDX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, INDA achieves a -10.58% return, which is significantly lower than BNDX's 1.02% return. Over the past 10 years, INDA has outperformed BNDX with an annualized return of 7.09%, while BNDX has yielded a comparatively lower 1.72% annualized return.

INDA

1D
1.13%
1M
-0.06%
YTD
-10.58%
6M
-9.05%
1Y
-10.57%
3Y*
4.51%
5Y*
2.79%
10Y*
7.09%

BNDX

1D
0.17%
1M
0.85%
YTD
1.02%
6M
1.22%
1Y
2.27%
3Y*
4.32%
5Y*
0.32%
10Y*
1.72%
*Multi-year figures are annualized to reflect compound growth (CAGR)

INDA vs. BNDX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
INDA
iShares MSCI India ETF		-10.58%2.68%8.63%17.16%-8.94%21.36%14.83%6.49%-6.67%36.08%
BNDX
Vanguard Total International Bond ETF		1.02%2.86%3.57%8.77%-12.76%-2.29%4.65%7.87%2.81%2.40%

Correlation

The correlation between INDA and BNDX is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.39

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

0.22

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

0.15

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

0.08

Correlation (All Time)
Calculated using the full available price history since Jun 4, 2013

0.05

Over the past year, INDA and BNDX have become more correlated (0.39) than their long-term average of 0.05, meaning their price movements have been converging.

INDA vs. BNDX - Sectors Allocation Comparison

Sectors
INDA
BNDX

Financial Services

28.4%
0.0%

Consumer Cyclical

12.5%

-

Industrials

10.3%
0.0%

Energy

9.5%
0.0%

Technology

8.3%

-

Basic Materials

8.0%

-

Consumer Defensive

6.2%

-

Healthcare

6.2%
0.0%

Communication Services

4.7%
0.0%

Utilities

4.6%
0.0%

Real Estate

1.4%
0.0%

Financial Services

INDA
28.4%
BNDX
0.0%

Consumer Cyclical

INDA
12.5%
BNDX

-

Industrials

INDA
10.3%
BNDX
0.0%

Energy

INDA
9.5%
BNDX
0.0%

Technology

INDA
8.3%
BNDX

-

Basic Materials

INDA
8.0%
BNDX

-

Consumer Defensive

INDA
6.2%
BNDX

-

Healthcare

INDA
6.2%
BNDX
0.0%

Communication Services

INDA
4.7%
BNDX
0.0%

Utilities

INDA
4.6%
BNDX
0.0%

Real Estate

INDA
1.4%
BNDX
0.0%

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

Vanguard Total International Bond ETF

Often compared with INDA:
INDA vs. FLININDA vs. INDYINDA vs. EPIINDA vs. SMININDA vs. VOOINDA vs. MCHIINDA vs. VNM
Often compared with BNDX:
BNDX vs. BNDBNDX vs. BNDWBNDX vs. VTABXBNDX vs. IAGGBNDX vs. FBIIXBNDX vs. IGOVBNDX vs. VWOB

Return for Risk

INDA vs. BNDX — 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
BNDX
BNDX Risk / Return Rank: 1818
Overall Rank
BNDX Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
BNDX Sortino Ratio Rank: 1818
Sortino Ratio Rank
BNDX Omega Ratio Rank: 1818
Omega Ratio Rank
BNDX Calmar Ratio Rank: 1818
Calmar Ratio Rank
BNDX Martin Ratio Rank: 1919
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. BNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India ETF (INDA) and Vanguard Total International Bond ETF (BNDX). 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.

INDABNDXDifference
Sharpe ratioReturn per unit of total volatility
-0.80
0.56

-1.36

Sortino ratioReturn per unit of downside risk
-1.10
0.82

-1.91

Omega ratioGain probability vs. loss probability

0.88

1.10

-0.23

Calmar ratioReturn relative to maximum drawdown

-0.63

0.66

-1.30

Martin ratioReturn relative to average drawdown

-1.46

1.84

-3.31

INDA vs. BNDX - Sharpe Ratio Comparison

The current INDA Sharpe Ratio is -0.80, which is lower than the BNDX Sharpe Ratio of 0.56. The chart below compares the historical Sharpe Ratios of INDA and BNDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

INDA vs. BNDX - Drawdown Comparison

The maximum INDA drawdown since its inception was -45.07%, which is greater than BNDX's maximum drawdown of -16.23%. Use the drawdown chart below to compare losses from any high point for INDA and BNDX.

Loading charts...

Drawdown Indicators

INDABNDXDifference

Max Drawdown

Largest peak-to-trough decline

-45.07%

-16.23%

-28.84%

Max Drawdown (1Y)

Largest decline over 1 year

-18.69%

-2.93%

-15.76%

Max Drawdown (3Y)

Largest decline over 3 years

-22.72%

-2.93%

-19.79%

Max Drawdown (5Y)

Largest decline over 5 years

-22.72%

-15.86%

-6.86%

Max Drawdown (10Y)

Largest decline over 10 years

-45.07%

-16.23%

-28.84%

Current Drawdown

Current decline from peak

-17.77%

-1.02%

-16.75%

Average Drawdown

Average peak-to-trough decline

-9.59%

-3.10%

-6.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.09%

1.05%

+7.04%

Volatility

INDA vs. BNDX - Volatility Comparison

iShares MSCI India ETF (INDA) has a higher volatility of 4.16% compared to Vanguard Total International Bond ETF (BNDX) at 1.49%. This indicates that INDA's price experiences larger fluctuations and is considered to be riskier than BNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

INDABNDXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.16%

1.49%

+2.67%

Volatility (6M)

Calculated over the trailing 6-month period

12.77%

2.96%

+9.81%

Volatility (1Y)

Calculated over the trailing 1-year period

14.79%

3.47%

+11.32%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.40%

4.89%

+10.51%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.11%

4.10%

+17.01%

INDA vs. BNDX - Expense Ratio Comparison

INDA has a 0.69% expense ratio, which is higher than BNDX's 0.07% expense ratio.

Dividends

INDA vs. BNDX - Dividend Comparison

INDA has not paid dividends to shareholders, while BNDX's dividend yield for the trailing twelve months is around 4.47%.

PositionTTM20252024202320222021202020192018201720162015
BNDX
Vanguard Total International Bond ETF		4.47%4.39%4.18%4.42%1.51%3.74%1.11%3.40%3.01%2.23%1.89%1.63%
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 BNDX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

INDA has higher volatility (4.16%) compared to BNDX (1.49%). In terms of maximum drawdown, INDA dropped -45.07% vs BNDX's -16.23%.

On 10-year performance, INDA leads with 7.09% vs 1.72% for BNDX. On fees, BNDX is cheaper at 0.07% per year. On volatility, BNDX has been the lower-risk option at 1.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, INDA has performed better with a 7.09% return vs 1.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BNDX is cheaper with a 0.07% expense ratio, compared with 0.69% for INDA.

BNDX has the higher dividend yield at 4.47%, compared with 0.00% for INDA.

INDA is categorized as Asia Pacific Equities, while BNDX is Global Bonds. INDA tracks MSCI India Index, while BNDX tracks Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index (USD Hedged). They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.69% for INDA and 0.07% for BNDX.

BNDX currently has the higher Sharpe Ratio (0.56 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.

Portfolio Optimizer

Find the right allocation for INDA and BNDX

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer