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INDA vs. LLY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

INDA vs. LLY

Last updated Jun 13, 2026

INDA (iShares MSCI India ETF) is Asia Pacific Equities fund tracking the MSCI India Index, while LLY (Eli Lilly and Company) is a stock. Over the past 10 years, INDA returned 7.09%/yr vs 33.45%/yr for LLY. At a 0.24 correlation, their price movements are largely independent.

Performance

INDA vs. LLY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI India ETF (INDA) and Eli Lilly and Company (LLY). 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 -10.58% return, which is significantly lower than LLY's 5.78% return. Over the past 10 years, INDA has underperformed LLY with an annualized return of 7.09%, while LLY has yielded a comparatively higher 33.45% 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%

LLY

1D
-2.41%
1M
12.74%
YTD
5.78%
6M
10.64%
1Y
39.26%
3Y*
37.45%
5Y*
39.59%
10Y*
33.45%
*Multi-year figures are annualized to reflect compound growth (CAGR)

INDA vs. LLY - 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%
LLY
Eli Lilly and Company		5.78%40.25%33.30%60.91%34.26%66.08%31.04%16.14%40.45%17.83%

Correlation

The correlation between INDA and LLY is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.17

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

0.19

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

0.19

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

0.20

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

0.24

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

Eli Lilly and Company

Often compared with INDA:
INDA vs. FLININDA vs. INDYINDA vs. EPIINDA vs. SMININDA vs. VOOINDA vs. MCHIINDA vs. VNM
Often compared with LLY:
LLY vs. NVOLLY vs. UNHLLY vs. ABBVLLY vs. VOOLLY vs. XLVLLY vs. VRTXLLY vs. ISRG

Return for Risk

INDA vs. LLY — 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
LLY
LLY Risk / Return Rank: 7373
Overall Rank
LLY Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
LLY Sortino Ratio Rank: 7070
Sortino Ratio Rank
LLY Omega Ratio Rank: 7171
Omega Ratio Rank
LLY Calmar Ratio Rank: 7474
Calmar Ratio Rank
LLY Martin Ratio Rank: 7575
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. LLY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India ETF (INDA) and Eli Lilly and Company (LLY). 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.

INDALLYDifference
Sharpe ratioReturn per unit of total volatility
-0.80
1.07

-1.87

Sortino ratioReturn per unit of downside risk
-1.10
1.62

-2.72

Omega ratioGain probability vs. loss probability

0.88

1.22

-0.34

Calmar ratioReturn relative to maximum drawdown

-0.63

1.72

-2.36

Martin ratioReturn relative to average drawdown

-1.46

4.28

-5.74

INDA vs. LLY - Sharpe Ratio Comparison

The current INDA Sharpe Ratio is -0.80, which is lower than the LLY Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of INDA and LLY, 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. LLY - Drawdown Comparison

The maximum INDA drawdown since its inception was -45.07%, smaller than the maximum LLY drawdown of -68.24%. Use the drawdown chart below to compare losses from any high point for INDA and LLY.

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Drawdown Indicators

INDALLYDifference

Max Drawdown

Largest peak-to-trough decline

-45.07%

-68.24%

+23.17%

Max Drawdown (1Y)

Largest decline over 1 year

-18.69%

-23.64%

+4.95%

Max Drawdown (3Y)

Largest decline over 3 years

-22.72%

-34.48%

+11.76%

Max Drawdown (5Y)

Largest decline over 5 years

-22.72%

-34.48%

+11.76%

Max Drawdown (10Y)

Largest decline over 10 years

-45.07%

-34.48%

-10.59%

Current Drawdown

Current decline from peak

-17.77%

-2.41%

-15.36%

Average Drawdown

Average peak-to-trough decline

-9.59%

-19.21%

+9.62%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.09%

9.49%

-1.40%

Volatility

INDA vs. LLY - Volatility Comparison

The current volatility for iShares MSCI India ETF (INDA) is 4.16%, while Eli Lilly and Company (LLY) has a volatility of 9.27%. This indicates that INDA experiences smaller price fluctuations and is considered to be less risky than LLY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

INDALLYDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.16%

9.27%

-5.11%

Volatility (6M)

Calculated over the trailing 6-month period

12.77%

27.16%

-14.39%

Volatility (1Y)

Calculated over the trailing 1-year period

14.79%

38.01%

-23.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.40%

32.46%

-17.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.11%

30.19%

-9.08%

Dividends

INDA vs. LLY - Dividend Comparison

INDA has not paid dividends to shareholders, while LLY's dividend yield for the trailing twelve months is around 0.57%.

PositionTTM20252024202320222021202020192018201720162015
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%
LLY
Eli Lilly and Company		0.57%0.56%0.67%0.78%1.07%1.23%1.75%1.96%1.94%2.46%2.77%2.37%

Frequently Asked Questions

INDA and LLY have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

LLY has higher volatility (9.27%) compared to INDA (4.16%). In terms of maximum drawdown, INDA dropped -45.07% vs LLY's -68.24%.

LLY currently has the higher Sharpe Ratio (1.07 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.

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