INDA vs. IYW
INDA (iShares MSCI India ETF) and IYW (iShares U.S. Technology ETF) are both exchange-traded funds - INDA is a Asia Pacific Equities fund tracking the MSCI India Index, while IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index. Both are passively managed. Over the past 10 years, INDA returned 6.73%/yr vs 25.53%/yr for IYW. At a 0.45 correlation, their price movements are largely independent. INDA charges 0.69%/yr vs 0.38%/yr for IYW.
Performance
INDA vs. IYW - Performance Comparison
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Returns By Period
In the year-to-date period, INDA achieves a -12.65% return, which is significantly lower than IYW's 22.81% return. Over the past 10 years, INDA has underperformed IYW with an annualized return of 6.73%, while IYW has yielded a comparatively higher 25.53% annualized return.
INDA
- 1D
- -0.27%
- 1M
- -5.28%
- YTD
- -12.65%
- 6M
- -11.06%
- 1Y
- -14.02%
- 3Y*
- 4.13%
- 5Y*
- 2.36%
- 10Y*
- 6.73%
IYW
- 1D
- 1.61%
- 1M
- 2.72%
- YTD
- 22.81%
- 6M
- 20.20%
- 1Y
- 50.11%
- 3Y*
- 33.35%
- 5Y*
- 21.56%
- 10Y*
- 25.53%
INDA vs. IYW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INDA iShares MSCI India ETF | -12.65% | 2.68% | 8.63% | 17.16% | -8.94% | 21.36% | 14.83% | 6.49% | -6.67% | 36.08% |
IYW iShares U.S. Technology ETF | 22.81% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 46.64% | -0.93% | 36.60% |
Correlation
The correlation between INDA and IYW 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 | 0.38 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2012 | 0.45 |
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Return for Risk
INDA vs. IYW — Risk / Return Rank
INDA
IYW
INDA vs. IYW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India ETF (INDA) and iShares U.S. Technology ETF (IYW). 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 | IYW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.36 | ||
| Sortino ratioReturn per unit of downside risk | -4.30 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.40 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | 2.83 | -3.58 |
| Martin ratioReturn relative to average drawdown | -1.78 | 9.20 | -10.99 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| INDA | IYW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.96 | 2.40 | -3.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.83 | -0.68 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.32 | 1.02 | -0.70 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.35 | -0.11 |
Drawdowns
INDA vs. IYW - Drawdown Comparison
The maximum INDA drawdown since its inception was -45.07%, smaller than the maximum IYW drawdown of -81.90%. Use the drawdown chart below to compare losses from any high point for INDA and IYW.
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Drawdown Indicators
| INDA | IYW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.07% | -81.90% | +36.83% |
Max Drawdown (1Y)Largest decline over 1 year | -18.69% | -17.81% | -0.88% |
Max Drawdown (3Y)Largest decline over 3 years | -22.72% | -26.47% | +3.75% |
Max Drawdown (5Y)Largest decline over 5 years | -22.72% | -39.44% | +16.72% |
Max Drawdown (10Y)Largest decline over 10 years | -45.07% | -39.44% | -5.63% |
Current DrawdownCurrent decline from peak | -19.68% | -5.70% | -13.98% |
Average DrawdownAverage peak-to-trough decline | -9.58% | -34.64% | +25.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.88% | 5.46% | +2.42% |
Volatility
INDA vs. IYW - Volatility Comparison
The current volatility for iShares MSCI India ETF (INDA) is 5.11%, while iShares U.S. Technology ETF (IYW) has a volatility of 8.86%. This indicates that INDA experiences smaller price fluctuations and is considered to be less risky than IYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INDA | IYW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 8.86% | -3.75% |
Volatility (6M)Calculated over the trailing 6-month period | 12.75% | 17.10% | -4.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.72% | 21.05% | -6.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.39% | 26.01% | -10.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.12% | 25.18% | -4.06% |
INDA vs. IYW - Expense Ratio Comparison
INDA has a 0.69% expense ratio, which is higher than IYW's 0.38% expense ratio.
Dividends
INDA vs. IYW - Dividend Comparison
INDA has not paid dividends to shareholders, while IYW's dividend yield for the trailing twelve months is around 0.11%.
| 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% |
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
Frequently Asked Questions
INDA and IYW 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.
IYW has higher volatility (8.86%) compared to INDA (5.11%). In terms of maximum drawdown, INDA dropped -45.07% vs IYW's -81.90%.
On 10-year performance, IYW leads with 25.53% vs 6.73% for INDA. On fees, IYW is cheaper at 0.38% per year. On volatility, INDA has been the lower-risk option at 5.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IYW has performed better with a 25.53% return vs 6.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYW is cheaper with a 0.38% expense ratio, compared with 0.69% for INDA.
IYW has the higher dividend yield at 0.11%, compared with 0.00% for INDA.
INDA is categorized as Asia Pacific Equities, while IYW is Technology Equities. INDA tracks MSCI India Index, while IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index. Their fees differ too: 0.69% for INDA and 0.38% for IYW.
IYW currently has the higher Sharpe Ratio (2.40 vs -0.96), 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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