INDA vs. RY
INDA (iShares MSCI India ETF) is Asia Pacific Equities fund tracking the MSCI India Index, while RY (Royal Bank of Canada) is a stock. Over the past 10 years, INDA returned 7.09%/yr vs 17.18%/yr for RY. At a 0.42 correlation, their price movements are largely independent.
Performance
INDA vs. RY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, INDA achieves a -10.58% return, which is significantly lower than RY's 18.68% return. Over the past 10 years, INDA has underperformed RY with an annualized return of 7.09%, while RY has yielded a comparatively higher 17.18% annualized return.
INDA
- 1D
- 1.13%
- 1M
- 0.71%
- YTD
- -10.58%
- 6M
- -9.05%
- 1Y
- -10.57%
- 3Y*
- 4.51%
- 5Y*
- 2.79%
- 10Y*
- 7.09%
RY
- 1D
- 0.14%
- 1M
- 8.80%
- YTD
- 18.68%
- 6M
- 21.99%
- 1Y
- 60.93%
- 3Y*
- 33.55%
- 5Y*
- 18.33%
- 10Y*
- 17.18%
INDA vs. RY - 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% |
RY Royal Bank of Canada | 18.68% | 46.29% | 23.80% | 12.72% | -8.00% | 34.11% | 8.42% | 20.17% | -12.88% | 24.95% |
Correlation
The correlation between INDA and RY is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.43 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2012 | 0.42 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
INDA vs. RY — Risk / Return Rank
INDA
RY
INDA vs. RY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India ETF (INDA) and Royal Bank of Canada (RY). 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 | RY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.77 | ||
| Sortino ratioReturn per unit of downside risk | -6.80 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.70 | -0.82 |
| Calmar ratioReturn relative to maximum drawdown | -0.63 | 5.97 | -6.60 |
| Martin ratioReturn relative to average drawdown | -1.46 | 22.22 | -23.68 |
Loading charts...
Drawdowns
INDA vs. RY - Drawdown Comparison
The maximum INDA drawdown since its inception was -45.07%, smaller than the maximum RY drawdown of -62.90%. Use the drawdown chart below to compare losses from any high point for INDA and RY.
Loading charts...
Drawdown Indicators
| INDA | RY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.07% | -62.90% | +17.83% |
Max Drawdown (1Y)Largest decline over 1 year | -18.69% | -10.04% | -8.65% |
Max Drawdown (3Y)Largest decline over 3 years | -22.72% | -19.88% | -2.84% |
Max Drawdown (5Y)Largest decline over 5 years | -22.72% | -28.36% | +5.64% |
Max Drawdown (10Y)Largest decline over 10 years | -45.07% | -39.95% | -5.12% |
Current DrawdownCurrent decline from peak | -17.77% | 0.00% | -17.77% |
Average DrawdownAverage peak-to-trough decline | -9.59% | -9.32% | -0.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.09% | 2.69% | +5.40% |
Volatility
INDA vs. RY - Volatility Comparison
iShares MSCI India ETF (INDA) and Royal Bank of Canada (RY) have volatilities of 4.16% and 4.01%, 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.
Loading charts...
Volatility by Period
| INDA | RY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.16% | 4.01% | +0.15% |
Volatility (6M)Calculated over the trailing 6-month period | 12.77% | 11.34% | +1.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.79% | 15.10% | -0.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.40% | 18.00% | -2.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.11% | 19.76% | +1.35% |
Dividends
INDA vs. RY - Dividend Comparison
INDA has not paid dividends to shareholders, while RY's dividend yield for the trailing twelve months is around 2.32%.
| 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% |
RY Royal Bank of Canada | 2.32% | 2.54% | 3.39% | 4.29% | 4.07% | 3.24% | 3.88% | 3.88% | 4.27% | 3.22% | 3.95% | 5.41% |
Frequently Asked Questions
INDA and RY have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INDA has higher volatility (4.16%) compared to RY (4.01%). In terms of maximum drawdown, INDA dropped -45.07% vs RY's -62.90%.
RY currently has the higher Sharpe Ratio (3.97 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.
Find the right allocation for INDA and RY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer