INDA vs. SLV
INDA (iShares MSCI India ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - INDA is a Asia Pacific Equities fund tracking the MSCI India Index, while SLV is a Silver fund tracking the LBMA Silver Price. Both are passively managed. Over the past 10 years, INDA returned 7.42%/yr vs 12.68%/yr for SLV. At a 0.22 correlation, their price movements are largely independent. INDA charges 0.69%/yr vs 0.50%/yr for SLV.
Performance
INDA vs. SLV - Performance Comparison
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Returns By Period
In the year-to-date period, INDA achieves a -9.21% return, which is significantly higher than SLV's -13.49% return. Over the past 10 years, INDA has underperformed SLV with an annualized return of 7.42%, while SLV has yielded a comparatively higher 12.68% annualized return.
INDA
- 1D
- -1.70%
- 1M
- 1.41%
- YTD
- -9.21%
- 6M
- -9.91%
- 1Y
- -9.65%
- 3Y*
- 5.09%
- 5Y*
- 3.46%
- 10Y*
- 7.42%
SLV
- 1D
- -5.40%
- 1M
- -18.48%
- YTD
- -13.49%
- 6M
- -14.05%
- 1Y
- 69.08%
- 3Y*
- 39.38%
- 5Y*
- 18.31%
- 10Y*
- 12.68%
INDA vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INDA iShares MSCI India ETF | -9.21% | 2.68% | 8.63% | 17.16% | -8.94% | 21.36% | 14.83% | 6.49% | -6.67% | 36.08% |
SLV iShares Silver Trust | -13.49% | 144.66% | 20.89% | -1.09% | 2.37% | -12.45% | 47.30% | 14.88% | -9.19% | 5.82% |
Correlation
The correlation between INDA and SLV is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2012 | 0.22 |
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Return for Risk
INDA vs. SLV — Risk / Return Rank
INDA
SLV
INDA vs. SLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India ETF (INDA) and iShares Silver Trust (SLV). 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 | SLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.80 | ||
| Sortino ratioReturn per unit of downside risk | -2.41 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.25 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.52 | 1.47 | -1.99 |
| Martin ratioReturn relative to average drawdown | -1.17 | 3.16 | -4.33 |
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Drawdowns
INDA vs. SLV - Drawdown Comparison
The maximum INDA drawdown since its inception was -45.07%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for INDA and SLV.
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Drawdown Indicators
| INDA | SLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.07% | -76.28% | +31.21% |
Max Drawdown (1Y)Largest decline over 1 year | -18.69% | -47.23% | +28.54% |
Max Drawdown (3Y)Largest decline over 3 years | -22.72% | -47.23% | +24.51% |
Max Drawdown (5Y)Largest decline over 5 years | -22.72% | -47.23% | +24.51% |
Max Drawdown (10Y)Largest decline over 10 years | -45.07% | -47.23% | +2.16% |
Current DrawdownCurrent decline from peak | -16.51% | -47.23% | +30.72% |
Average DrawdownAverage peak-to-trough decline | -9.60% | -44.65% | +35.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.28% | 21.91% | -13.63% |
Volatility
INDA vs. SLV - Volatility Comparison
The current volatility for iShares MSCI India ETF (INDA) is 4.56%, while iShares Silver Trust (SLV) has a volatility of 14.34%. This indicates that INDA experiences smaller price fluctuations and is considered to be less risky than SLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INDA | SLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.56% | 14.34% | -9.78% |
Volatility (6M)Calculated over the trailing 6-month period | 13.07% | 59.27% | -46.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.91% | 60.33% | -45.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.44% | 36.59% | -21.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.08% | 32.09% | -11.01% |
INDA vs. SLV - Expense Ratio Comparison
INDA has a 0.69% expense ratio, which is higher than SLV's 0.50% expense ratio.
Dividends
INDA vs. SLV - Dividend Comparison
Neither INDA nor SLV has paid dividends to shareholders.
| 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% |
SLV iShares Silver Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
INDA and SLV have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (14.34%) compared to INDA (4.56%). In terms of maximum drawdown, INDA dropped -45.07% vs SLV's -76.28%.
On 10-year performance, SLV leads with 12.68% vs 7.42% for INDA. On fees, SLV is cheaper at 0.50% per year. On volatility, INDA has been the lower-risk option at 4.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SLV has performed better with a 12.68% return vs 7.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SLV is cheaper with a 0.50% expense ratio, compared with 0.69% for INDA.
INDA and SLV have nearly identical dividend yields, around 0.00%.
INDA is categorized as Asia Pacific Equities, while SLV is Silver. INDA tracks MSCI India Index, while SLV tracks LBMA Silver Price. Their fees differ too: 0.69% for INDA and 0.50% for SLV.
SLV currently has the higher Sharpe Ratio (1.15 vs -0.65), 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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