INDA vs. INQQ

Last updated Aug 2, 2026

INDA (iShares MSCI India ETF) and INQQ (INQQ The India Internet ETF) are both India Equities funds - INDA tracks the MSCI India Index while INQQ tracks the INQQ The India Internet & Ecommerce Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, INDA returned 4.09%/yr vs 2.99%/yr for INQQ. Their 0.76 correlation means they have sometimes moved together and sometimes differently. INDA charges 0.69%/yr vs 0.86%/yr for INQQ.

Performance

INDA vs. INQQ - Performance Comparison

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

Returns By Period

In the year-to-date period, INDA achieves a -7.86% return, which is significantly higher than INQQ's -9.24% 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%

INQQ

• 1D: 0.71%
• 1M: 1.78%
• 6M: -1.28%
• YTD: -9.24%
• 1Y: -13.28%
• 3Y*: 2.99%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -3.37%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
INDA iShares MSCI India ETF	$354.20M	$298.51M	$312.64M
INQQ INQQ The India Internet ETF	$156.31K	$248.20K	$372.41K

INDA vs. INQQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
INDA iShares MSCI India ETF	-7.86%	2.68%	8.63%	17.16%	-9.22%
INQQ INQQ The India Internet ETF	-9.24%	-7.05%	19.12%	31.45%	-34.72%

Correlation

The correlation between INDA and INQQ is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.79
Correlation (3Y) Balances recent behavior with more history.	0.78
Correlation (All Time) Calculated using the full available price history since Apr 6, 2022	0.76

The correlation between INDA and INQQ has been stable across timeframes, ranging from 0.76 to 0.79 - a consistent structural relationship.

INDA vs. INQQ - Sectors Allocation Comparison

Sectors	INDA	INQQ
Financial Services	30.3%	30.2%
Consumer Cyclical	12.3%	35.9%
Industrials	10.5%	-
Energy	8.8%	7.5%
Basic Materials	8.5%	-
Technology	7.1%	10.5%
Healthcare	6.4%	4.7%
Consumer Defensive	5.6%	1.6%
Communication Services	5.0%	9.6%
Utilities	4.2%	-
Real Estate	1.4%	-

Return for Risk

INDA vs. INQQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

INDA

INDA Risk / Return Rank: 6
INDA Sharpe Ratio Rank: 6
INDA Sortino Ratio Rank: 6
INDA Omega Ratio Rank: 6
INDA Calmar Ratio Rank: 7
INDA Martin Ratio Rank: 6

INQQ

INQQ Risk / Return Rank: 4
INQQ Sharpe Ratio Rank: 3
INQQ Sortino Ratio Rank: 3
INQQ Omega Ratio Rank: 3
INQQ Calmar Ratio Rank: 6
INQQ Martin Ratio Rank: 6

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. INQQ - Risk-Adjusted Trends Comparison

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

	INDA	INQQ	Difference
Sharpe ratio: Return per unit of total volatility	-0.36	-0.73	+0.37
Sortino ratio: Return per unit of downside risk	-0.42	-0.98	+0.56
Omega ratio: Gain probability vs. loss probability	0.95	0.89	+0.06
Calmar ratio: Return relative to maximum drawdown	-0.30	-0.44	+0.14
Martin ratio: Return relative to average drawdown	-0.66	-0.82	+0.16

INDA vs. INQQ - Sharpe Ratio Comparison

The current INDA Sharpe Ratio is -0.36, which is higher than the INQQ Sharpe Ratio of -0.73. The chart below compares the historical Sharpe Ratios of INDA and INQQ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

INDA vs. INQQ - Drawdown Comparison

The maximum INDA drawdown since its inception was -45.07%, which is greater than INQQ's maximum drawdown of -40.53%. Use the drawdown chart below to compare losses from any high point for INDA and INQQ.

Drawdown Indicators

	INDA	INQQ	Difference
Max Drawdown Largest peak-to-trough decline	-45.07%	-40.53%	-4.54%
Max Drawdown (1Y) Largest decline over 1 year	-17.85%	-30.07%	+12.22%
Max Drawdown (3Y) Largest decline over 3 years	-22.72%	-32.45%	+9.73%
Max Drawdown (5Y) Largest decline over 5 years	-22.72%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-45.07%	—	—
Current Drawdown Current decline from peak	-15.27%	-20.13%	+4.86%
Average Drawdown Average peak-to-trough decline	-9.65%	-17.28%	+7.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.16%	16.21%	-8.05%

Volatility

INDA vs. INQQ - Volatility Comparison

The current volatility for iShares MSCI India ETF (INDA) is 4.11%, while INQQ The India Internet ETF (INQQ) has a volatility of 5.80%. This indicates that INDA experiences smaller price fluctuations and is considered to be less risky than INQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INDA	INQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.11%	5.80%	-1.69%
Volatility (6M) Calculated over the trailing 6-month period	13.19%	15.41%	-2.22%
Volatility (1Y) Calculated over the trailing 1-year period	15.11%	18.23%	-3.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.50%	19.94%	-4.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.07%	19.94%	+1.13%

INDA vs. INQQ - Expense Ratio Comparison

INDA has a 0.69% expense ratio, which is lower than INQQ's 0.86% expense ratio.

Dividends

INDA vs. INQQ - Dividend Comparison

INDA has not paid dividends to shareholders, while INQQ's dividend yield for the trailing twelve months is around 2.46%.

Position	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%
INQQ INQQ The India Internet ETF	2.46%	2.23%	1.18%	0.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both INDA and INQQ in my portfolio?

INDA and INQQ have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INDA or INQQ?

INQQ has higher volatility (5.80%) compared to INDA (4.11%). In terms of maximum drawdown, INDA dropped -45.07% vs INQQ's -40.53%.

Which ETF is better, INDA or INQQ?

On 3-year performance, INDA leads with 4.09% vs 2.99% for INQQ. On fees, INDA is cheaper at 0.69% 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.

Which ETF has performed better, INDA or INQQ?

Over the 3-year period, INDA has performed better with a 4.09% return vs 2.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, INDA or INQQ?

INDA is cheaper with a 0.69% expense ratio, compared with 0.86% for INQQ.

Which ETF pays a higher dividend yield, INDA or INQQ?

INQQ has the higher dividend yield at 2.46%, compared with 0.00% for INDA.

What is the main difference between INDA and INQQ?

INDA tracks MSCI India Index, while INQQ tracks INQQ The India Internet & Ecommerce Index - Benchmark TR Gross. They also come from different issuers: iShares and EMQQ Global. Their fees differ too: 0.69% for INDA and 0.86% for INQQ.

Which has better risk-adjusted returns?

INDA currently has the higher Sharpe Ratio (-0.36 vs -0.73), 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.