INDA vs. SLV
INDA (iShares MSCI India ETF) and SLV (iShares Silver Trust) are both exchange-traded funds - INDA is a India 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 6.56%/yr vs 10.33%/yr for SLV. Their 0.22 correlation means their historical movements had little consistent relationship. 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 -7.86% return, which is significantly higher than SLV's -18.72% return. Over the past 10 years, INDA has underperformed SLV with an annualized return of 6.56%, while SLV has yielded a comparatively higher 10.33% annualized return.
INDA
- 1D
- 0.20%
- 1M
- 0.48%
- 6M
- -3.75%
- YTD
- -7.86%
- 1Y
- -5.54%
- 3Y*
- 4.09%
- 5Y*
- 3.65%
- 10Y*
- 6.56%
- ALL TIME*
- 5.44%
SLV
- 1D
- -2.13%
- 1M
- -4.83%
- 6M
- -30.59%
- YTD
- -18.72%
- 1Y
- 55.88%
- 3Y*
- 32.93%
- 5Y*
- 17.25%
- 10Y*
- 10.33%
- ALL TIME*
- 7.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $354.20M | $298.51M | $312.64M | |
| $716.70M | $772.79M | $1.26B |
INDA vs. SLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INDA iShares MSCI India ETF | -7.86% | 2.68% | 8.63% | 17.16% | -8.94% | 21.36% | 14.83% | 6.49% | -6.67% | 36.08% |
SLV iShares Silver Trust | -18.72% | 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 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.26 |
Correlation (3Y) Balances recent behavior with more history. | 0.24 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.24 |
Correlation (10Y) Provides a long-term view across more market conditions. | 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 | -1.29 | ||
| Sortino ratioReturn per unit of downside risk | -1.79 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.21 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.30 | 1.10 | -1.40 |
| Martin ratioReturn relative to average drawdown | -0.66 | 2.10 | -2.76 |
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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 | -17.85% | -52.28% | +34.43% |
Max Drawdown (3Y)Largest decline over 3 years | -22.72% | -52.28% | +29.56% |
Max Drawdown (5Y)Largest decline over 5 years | -22.72% | -52.28% | +29.56% |
Max Drawdown (10Y)Largest decline over 10 years | -45.07% | -52.28% | +7.21% |
Current DrawdownCurrent decline from peak | -15.27% | -50.42% | +35.15% |
Average DrawdownAverage peak-to-trough decline | -9.65% | -44.68% | +35.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.16% | 27.31% | -19.15% |
Volatility
INDA vs. SLV - Volatility Comparison
The current volatility for iShares MSCI India ETF (INDA) is 4.11%, while iShares Silver Trust (SLV) has a volatility of 11.23%. 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 | 4.11% | 11.23% | -7.12% |
Volatility (6M)Calculated over the trailing 6-month period | 13.19% | 55.44% | -42.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.11% | 61.35% | -46.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.50% | 36.97% | -21.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.07% | 32.22% | -11.15% |
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 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SLV has higher volatility (11.23%) compared to INDA (4.11%). In terms of maximum drawdown, INDA dropped -45.07% vs SLV's -76.28%.
On 10-year performance, SLV leads with 10.33% vs 6.56% for INDA. On fees, SLV is cheaper at 0.50% per year. On volatility, INDA has been the lower-risk option at 4.11%. 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 10.33% return vs 6.56%. 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 India 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 (0.94 vs -0.36), 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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