INDA vs. IIND.L

Last updated Apr 1, 2026

Compare and contrast key facts about iShares MSCI India ETF (INDA) and iShares MSCI India UCITS ETF USD (Acc) (IIND.L).

INDA and IIND.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. INDA is a passively managed fund by iShares that tracks the performance of the MSCI India Index. It was launched on Feb 2, 2012. IIND.L is a passively managed fund by iShares that tracks the performance of the MSCI India NR USD. It was launched on May 25, 2018. Both INDA and IIND.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

INDA vs. IIND.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI India ETF (INDA) and iShares MSCI India UCITS ETF USD (Acc) (IIND.L). The values are adjusted to include any dividend payments, if applicable.

INDA vs. IIND.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
INDA iShares MSCI India ETF	-13.34%	2.68%	8.63%	17.16%	-8.94%	21.36%	14.83%	6.49%	1.58%
IIND.L iShares MSCI India UCITS ETF USD (Acc)	-16.93%	4.39%	9.19%	18.43%	-8.26%	25.80%	13.87%	7.88%	-0.22%

Different Trading Currencies

INDA is traded in USD, while IIND.L is traded in GBP. To make them comparable, the IIND.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, INDA achieves a -13.34% return, which is significantly higher than IIND.L's -16.93% return.

INDA

• 1D: 3.13%
• 1M: -10.39%
• YTD: -13.34%
• 6M: -10.03%
• 1Y: -9.01%
• 3Y*: 6.29%
• 5Y*: 3.50%
• 10Y*: 6.88%

IIND.L

• 1D: 1.16%
• 1M: -13.92%
• YTD: -16.93%
• 6M: -13.03%
• 1Y: -10.60%
• 3Y*: 6.70%
• 5Y*: 4.10%
• 10Y*: —

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

INDA vs. IIND.L - Expense Ratio Comparison

INDA has a 0.69% expense ratio, which is higher than IIND.L's 0.65% expense ratio.

INDA

iShares MSCI India ETF

IIND.L

iShares MSCI India UCITS ETF USD (Acc)

Return for Risk

INDA vs. IIND.L — 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: 5
INDA Martin Ratio Rank: 1

IIND.L

IIND.L Risk / Return Rank: 2
IIND.L Sharpe Ratio Rank: 1
IIND.L Sortino Ratio Rank: 2
IIND.L Omega Ratio Rank: 2
IIND.L Calmar Ratio Rank: 2
IIND.L Martin Ratio Rank: 0

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. IIND.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India ETF (INDA) and iShares MSCI India UCITS ETF USD (Acc) (IIND.L). 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	IIND.L	Difference
Sharpe ratio Return per unit of total volatility	-0.58	-0.61	+0.03
Sortino ratio Return per unit of downside risk	-0.75	-0.76	+0.01
Omega ratio Gain probability vs. loss probability	0.91	0.91	0.00
Calmar ratio Return relative to maximum drawdown	-0.46	-0.50	+0.04
Martin ratio Return relative to average drawdown	-1.54	-1.65	+0.11
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. IIND.L - Sharpe Ratio Comparison

The current INDA Sharpe Ratio is -0.58, which is comparable to the IIND.L Sharpe Ratio of -0.61. The chart below compares the historical Sharpe Ratios of INDA and IIND.L, 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	IIND.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.58	-0.61	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.24	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.33	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.28	-0.04

Correlation

The correlation between INDA and IIND.L is 0.85, 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.

Dividends

INDA vs. IIND.L - Dividend Comparison

Neither INDA nor IIND.L has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
IIND.L iShares MSCI India UCITS ETF USD (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

INDA vs. IIND.L - Drawdown Comparison

The maximum INDA drawdown since its inception was -45.07%, which is greater than IIND.L's maximum drawdown of -42.33%. Use the drawdown chart below to compare losses from any high point for INDA and IIND.L.

Drawdown Indicators

	INDA	IIND.L	Difference
Max Drawdown Largest peak-to-trough decline	-45.07%	-36.72%	-8.35%
Max Drawdown (1Y) Largest decline over 1 year	-18.69%	-19.77%	+1.08%
Max Drawdown (5Y) Largest decline over 5 years	-22.72%	-24.77%	+2.05%
Max Drawdown (10Y) Largest decline over 10 years	-45.07%	—	—
Current Drawdown Current decline from peak	-20.31%	-24.17%	+3.86%
Average Drawdown Average peak-to-trough decline	-9.48%	-7.47%	-2.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.61%	6.21%	-0.60%

Volatility

INDA vs. IIND.L - Volatility Comparison

iShares MSCI India ETF (INDA) and iShares MSCI India UCITS ETF USD (Acc) (IIND.L) have volatilities of 6.88% and 7.20%, 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.

Volatility by Period

	INDA	IIND.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.88%	7.20%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	10.87%	11.53%	-0.66%
Volatility (1Y) Calculated over the trailing 1-year period	15.58%	17.38%	-1.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.38%	17.25%	-1.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.12%	21.90%	-0.78%