INDA vs. NAIL

Last updated Jun 13, 2026

INDA (iShares MSCI India ETF) and NAIL (Direxion Daily Homebuilders & Supplies Bull 3X Shares) are both exchange-traded funds - INDA is a Asia Pacific Equities fund tracking the MSCI India Index, while NAIL is a Leveraged Equities fund tracking the Dow Jones U.S. Select Home Construction Index (300%). Both are passively managed. Over the past 10 years, INDA returned 7.09%/yr vs 6.16%/yr for NAIL. At a 0.34 correlation, their price movements are largely independent. INDA charges 0.69%/yr vs 0.99%/yr for NAIL.

Performance

INDA vs. NAIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI India ETF (INDA) and Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INDA achieves a -10.58% return, which is significantly higher than NAIL's -13.15% return. Over the past 10 years, INDA has outperformed NAIL with an annualized return of 7.09%, while NAIL has yielded a comparatively lower 6.16% annualized return.

INDA

• 1D: 1.13%
• 1M: 0.73%
• YTD: -10.58%
• 6M: -9.05%
• 1Y: -11.81%
• 3Y*: 4.51%
• 5Y*: 2.79%
• 10Y*: 7.09%

NAIL

• 1D: -2.18%
• 1M: 25.39%
• YTD: -13.15%
• 6M: -27.97%
• 1Y: -17.64%
• 3Y*: -11.92%
• 5Y*: -9.97%
• 10Y*: 6.16%

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

INDA vs. NAIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares	-13.15%	-40.43%	-22.83%	259.61%	-75.23%	168.20%	-32.08%	184.63%	-73.96%	268.71%

Correlation

The correlation between INDA and NAIL is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since Aug 19, 2015	0.35

The correlation between INDA and NAIL shifts across timeframes, from 0.27 (1 year) to 0.38 (5 years), reflecting how their relationship changes across market environments.

INDA vs. NAIL - Sectors Allocation Comparison

Sectors	INDA	NAIL
Financial Services	28.4%	-
Consumer Cyclical	12.5%	71.8%
Industrials	10.3%	19.1%
Energy	9.5%	-
Technology	8.3%	-
Basic Materials	8.0%	8.6%
Consumer Defensive	6.2%	-
Healthcare	6.2%	-
Communication Services	4.7%	-
Utilities	4.6%	-
Real Estate	1.4%	0.5%

Return for Risk

INDA vs. NAIL — 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: 4
INDA Martin Ratio Rank: 2

NAIL

NAIL Risk / Return Rank: 9
NAIL Sharpe Ratio Rank: 7
NAIL Sortino Ratio Rank: 11
NAIL Omega Ratio Rank: 11
NAIL Calmar Ratio Rank: 7
NAIL Martin Ratio Rank: 7

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. NAIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India ETF (INDA) and Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL). 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	NAIL	Difference
Sharpe ratio: Return per unit of total volatility	-0.80	-0.20	-0.60
Sortino ratio: Return per unit of downside risk	-1.10	0.35	-1.44
Omega ratio: Gain probability vs. loss probability	0.88	1.04	-0.16
Calmar ratio: Return relative to maximum drawdown	-0.63	-0.26	-0.37
Martin ratio: Return relative to average drawdown	-1.46	-0.45	-1.01

INDA vs. NAIL - Sharpe Ratio Comparison

The current INDA Sharpe Ratio is -0.80, which is lower than the NAIL Sharpe Ratio of -0.20. The chart below compares the historical Sharpe Ratios of INDA and NAIL, 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. NAIL - Drawdown Comparison

The maximum INDA drawdown since its inception was -45.07%, smaller than the maximum NAIL drawdown of -93.75%. Use the drawdown chart below to compare losses from any high point for INDA and NAIL.

Drawdown Indicators

	INDA	NAIL	Difference
Max Drawdown Largest peak-to-trough decline	-45.07%	-93.75%	+48.68%
Max Drawdown (1Y) Largest decline over 1 year	-18.69%	-67.85%	+49.16%
Max Drawdown (3Y) Largest decline over 3 years	-22.72%	-82.09%	+59.37%
Max Drawdown (5Y) Largest decline over 5 years	-22.72%	-84.40%	+61.68%
Max Drawdown (10Y) Largest decline over 10 years	-45.07%	-93.75%	+48.68%
Current Drawdown Current decline from peak	-17.77%	-75.18%	+57.41%
Average Drawdown Average peak-to-trough decline	-9.59%	-43.87%	+34.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.09%	39.36%	-31.27%

Volatility

INDA vs. NAIL - Volatility Comparison

The current volatility for iShares MSCI India ETF (INDA) is 4.16%, while Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) has a volatility of 26.93%. This indicates that INDA experiences smaller price fluctuations and is considered to be less risky than NAIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INDA	NAIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	26.93%	-22.77%
Volatility (6M) Calculated over the trailing 6-month period	12.77%	61.98%	-49.21%
Volatility (1Y) Calculated over the trailing 1-year period	14.79%	88.92%	-74.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.40%	87.27%	-71.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.11%	89.35%	-68.24%

INDA vs. NAIL - Expense Ratio Comparison

INDA has a 0.69% expense ratio, which is lower than NAIL's 0.99% expense ratio.

Dividends

INDA vs. NAIL - Dividend Comparison

INDA has not paid dividends to shareholders, while NAIL's dividend yield for the trailing twelve months is around 0.91%.

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%
NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares	0.91%	1.55%	0.63%	0.22%	0.00%	0.00%	0.01%	0.17%	0.35%	1.25%	0.00%	0.00%

Frequently Asked Questions

Can I hold both INDA and NAIL in my portfolio?

INDA and NAIL have a correlation of 0.27, 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 NAIL?

NAIL has higher volatility (26.93%) compared to INDA (4.16%). In terms of maximum drawdown, INDA dropped -45.07% vs NAIL's -93.75%.

Which ETF is better, INDA or NAIL?

On 10-year performance, INDA leads with 7.09% vs 6.16% for NAIL. On fees, INDA is cheaper at 0.69% per year. On volatility, INDA has been the lower-risk option at 4.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, INDA or NAIL?

Over the 10-year period, INDA has performed better with a 7.09% return vs 6.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, INDA or NAIL?

INDA is cheaper with a 0.69% expense ratio, compared with 0.99% for NAIL.

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

NAIL has the higher dividend yield at 0.91%, compared with 0.00% for INDA.

What is the main difference between INDA and NAIL?

INDA is categorized as Asia Pacific Equities, while NAIL is Leveraged Equities. INDA tracks MSCI India Index, while NAIL tracks Dow Jones U.S. Select Home Construction Index (300%). They also come from different issuers: iShares and Direxion. Their fees differ too: 0.69% for INDA and 0.99% for NAIL.

Which has better risk-adjusted returns?

NAIL currently has the higher Sharpe Ratio (-0.20 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.