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INDA vs. EIDO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

INDA vs. EIDO

Last updated Aug 2, 2026
Documentation

INDA (iShares MSCI India ETF) and EIDO (iShares MSCI Indonesia ETF) are both exchange-traded funds - INDA is a India Equities fund tracking the MSCI India Index, while EIDO is a Indonesia Equities fund tracking the MSCI Indonesia Investable Market Index. Both are passively managed. Over the past 10 years, INDA returned 6.56%/yr vs -4.99%/yr for EIDO. Their 0.51 correlation means they have sometimes moved together and sometimes differently. INDA charges 0.69%/yr vs 0.59%/yr for EIDO.

Performance

INDA vs. EIDO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI India ETF (INDA) and iShares MSCI Indonesia ETF (EIDO). 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 -7.86% return, which is significantly higher than EIDO's -32.61% return. Over the past 10 years, INDA has outperformed EIDO with an annualized return of 6.56%, while EIDO has yielded a comparatively lower -4.99% annualized return.

INDA

1D
0.20%
1M
0.48%
6M
-3.75%
YTD
-7.86%
1Y
-5.54%
3Y*
4.09%
5Y*
3.65%
10Y*
6.56%
ALL TIME*
5.44%

EIDO

1D
0.00%
1M
8.03%
6M
-28.60%
YTD
-32.61%
1Y
-27.74%
3Y*
-15.87%
5Y*
-6.23%
10Y*
-4.99%
ALL TIME*
-1.58%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EIDO

iShares MSCI Indonesia ETF
$15.37M$16.21M$20.47M

INDA

iShares MSCI India ETF
$354.20M$298.51M$312.64M

INDA vs. EIDO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
INDA
iShares MSCI India ETF		-7.86%2.68%8.63%17.16%-8.94%21.36%14.83%6.49%-6.67%36.08%
EIDO
iShares MSCI Indonesia ETF		-32.61%4.90%-13.02%2.56%-0.16%-0.60%-7.13%5.30%-10.88%19.40%

Correlation

The correlation between INDA and EIDO is 0.30, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.30

Correlation (3Y)
Balances recent behavior with more history.

0.30

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.38

Correlation (10Y)
Provides a long-term view across more market conditions.

0.49

Correlation (All Time)
Calculated using the full available price history since Feb 3, 2012

0.51

Over the past year, the correlation between INDA and EIDO has dropped to 0.30 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.

INDA vs. EIDO - Sectors Allocation Comparison

Sectors
INDA
EIDO

Financial Services

30.3%
44.7%

Consumer Cyclical

12.3%
2.1%

Industrials

10.5%
5.8%

Energy

8.8%
10.0%

Basic Materials

8.5%
10.9%

Technology

7.1%
4.0%

Healthcare

6.4%
1.4%

Consumer Defensive

5.6%
7.7%

Communication Services

5.0%
9.4%

Utilities

4.2%
0.6%

Real Estate

1.4%
1.4%

Financial Services

INDA
30.3%
EIDO
44.7%

Consumer Cyclical

INDA
12.3%
EIDO
2.1%

Industrials

INDA
10.5%
EIDO
5.8%

Energy

INDA
8.8%
EIDO
10.0%

Basic Materials

INDA
8.5%
EIDO
10.9%

Technology

INDA
7.1%
EIDO
4.0%

Healthcare

INDA
6.4%
EIDO
1.4%

Consumer Defensive

INDA
5.6%
EIDO
7.7%

Communication Services

INDA
5.0%
EIDO
9.4%

Utilities

INDA
4.2%
EIDO
0.6%

Real Estate

INDA
1.4%
EIDO
1.4%

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

iShares MSCI Indonesia ETF

Often compared with INDA:
INDA vs. FLININDA vs. INDYINDA vs. EPIINDA vs. SMININDA vs. VOOINDA vs. MCHIINDA vs. VNM
Often compared with EIDO:
EIDO vs. IDXEIDO vs. EWYEIDO vs. ASEAEIDO vs. EWMEIDO vs. EWSEIDO vs. EWWEIDO vs. VOO

Return for Risk

INDA vs. EIDO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
INDA
INDA Risk / Return Rank: 66
Overall Rank
INDA Sharpe Ratio Rank: 66
Sharpe Ratio Rank
INDA Sortino Ratio Rank: 66
Sortino Ratio Rank
INDA Omega Ratio Rank: 66
Omega Ratio Rank
INDA Calmar Ratio Rank: 77
Calmar Ratio Rank
INDA Martin Ratio Rank: 66
Martin Ratio Rank
EIDO
EIDO Risk / Return Rank: 22
Overall Rank
EIDO Sharpe Ratio Rank: 11
Sharpe Ratio Rank
EIDO Sortino Ratio Rank: 22
Sortino Ratio Rank
EIDO Omega Ratio Rank: 22
Omega Ratio Rank
EIDO Calmar Ratio Rank: 44
Calmar Ratio Rank
EIDO Martin Ratio Rank: 11
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

INDA vs. EIDO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India ETF (INDA) and iShares MSCI Indonesia ETF (EIDO). 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.

INDAEIDODifference
Sharpe ratioReturn per unit of total volatility
-0.36
-1.00

+0.65

Sortino ratioReturn per unit of downside risk
-0.42
-1.36

+0.94

Omega ratioGain probability vs. loss probability

0.95

0.83

+0.13

Calmar ratioReturn relative to maximum drawdown

-0.30

-0.60

+0.30

Martin ratioReturn relative to average drawdown

-0.66

-1.41

+0.74

INDA vs. EIDO - Sharpe Ratio Comparison

The current INDA Sharpe Ratio is -0.36, which is higher than the EIDO Sharpe Ratio of -1.00. The chart below compares the historical Sharpe Ratios of INDA and EIDO, 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. EIDO - Drawdown Comparison

The maximum INDA drawdown since its inception was -45.07%, smaller than the maximum EIDO drawdown of -63.21%. Use the drawdown chart below to compare losses from any high point for INDA and EIDO.

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Drawdown Indicators

INDAEIDODifference

Max Drawdown

Largest peak-to-trough decline

-45.07%

-63.21%

+18.14%

Max Drawdown (1Y)

Largest decline over 1 year

-17.85%

-43.81%

+25.96%

Max Drawdown (3Y)

Largest decline over 3 years

-22.72%

-51.77%

+29.05%

Max Drawdown (5Y)

Largest decline over 5 years

-22.72%

-51.77%

+29.05%

Max Drawdown (10Y)

Largest decline over 10 years

-45.07%

-59.41%

+14.34%

Current Drawdown

Current decline from peak

-15.27%

-54.00%

+38.73%

Average Drawdown

Average peak-to-trough decline

-9.65%

-24.92%

+15.27%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.16%

18.75%

-10.59%

Volatility

INDA vs. EIDO - Volatility Comparison

The current volatility for iShares MSCI India ETF (INDA) is 4.11%, while iShares MSCI Indonesia ETF (EIDO) has a volatility of 6.75%. This indicates that INDA experiences smaller price fluctuations and is considered to be less risky than EIDO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

INDAEIDODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.11%

6.75%

-2.64%

Volatility (6M)

Calculated over the trailing 6-month period

13.19%

21.31%

-8.12%

Volatility (1Y)

Calculated over the trailing 1-year period

15.11%

26.34%

-11.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.50%

20.70%

-5.20%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.07%

25.01%

-3.94%

INDA vs. EIDO - Expense Ratio Comparison

INDA has a 0.69% expense ratio, which is higher than EIDO's 0.59% expense ratio.

Dividends

INDA vs. EIDO - Dividend Comparison

INDA has not paid dividends to shareholders, while EIDO's dividend yield for the trailing twelve months is around 3.30%.

PositionTTM20252024202320222021202020192018201720162015
EIDO
iShares MSCI Indonesia ETF		3.30%3.56%5.20%2.94%2.53%1.33%1.51%1.78%1.99%1.26%1.16%1.67%
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 EIDO have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

EIDO has higher volatility (6.75%) compared to INDA (4.11%). In terms of maximum drawdown, INDA dropped -45.07% vs EIDO's -63.21%.

On 10-year performance, INDA leads with 6.56% vs -4.99% for EIDO. On fees, EIDO is cheaper at 0.59% per year. On volatility, INDA has been the lower-risk option at 4.11%. 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 6.56% return vs -4.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EIDO is cheaper with a 0.59% expense ratio, compared with 0.69% for INDA.

EIDO has the higher dividend yield at 3.30%, compared with 0.00% for INDA.

INDA is categorized as India Equities, while EIDO is Indonesia Equities. INDA tracks MSCI India Index, while EIDO tracks MSCI Indonesia Investable Market Index. Their fees differ too: 0.69% for INDA and 0.59% for EIDO.

INDA currently has the higher Sharpe Ratio (-0.36 vs -1.00), 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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