INDA vs. TIP
INDA (iShares MSCI India ETF) and TIP (iShares TIPS Bond ETF) are both exchange-traded funds - INDA is a Asia Pacific Equities fund tracking the MSCI India Index, while TIP is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index. Both are passively managed. Over the past 10 years, INDA returned 7.09%/yr vs 2.53%/yr for TIP. At a 0.03 correlation, their price movements are largely independent. INDA charges 0.69%/yr vs 0.18%/yr for TIP.
Performance
INDA vs. TIP - Performance Comparison
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Returns By Period
In the year-to-date period, INDA achieves a -10.58% return, which is significantly lower than TIP's 1.40% return. Over the past 10 years, INDA has outperformed TIP with an annualized return of 7.09%, while TIP has yielded a comparatively lower 2.53% 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%
TIP
- 1D
- 0.01%
- 1M
- -0.11%
- YTD
- 1.40%
- 6M
- 1.42%
- 1Y
- 4.76%
- 3Y*
- 4.00%
- 5Y*
- 0.91%
- 10Y*
- 2.53%
INDA vs. TIP - 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% |
TIP iShares TIPS Bond ETF | 1.40% | 6.77% | 1.65% | 3.80% | -12.26% | 5.68% | 10.84% | 8.35% | -1.42% | 2.92% |
Correlation
The correlation between INDA and TIP is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2012 | 0.03 |
The correlation between INDA and TIP shifts across timeframes, from 0.03 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
INDA vs. TIP — Risk / Return Rank
INDA
TIP
INDA vs. TIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India ETF (INDA) and iShares TIPS Bond ETF (TIP). 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 | TIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.17 | ||
| Sortino ratioReturn per unit of downside risk | -3.21 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.24 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.63 | 2.34 | -2.98 |
| Martin ratioReturn relative to average drawdown | -1.46 | 7.00 | -8.46 |
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Drawdowns
INDA vs. TIP - Drawdown Comparison
The maximum INDA drawdown since its inception was -45.07%, which is greater than TIP's maximum drawdown of -14.57%. Use the drawdown chart below to compare losses from any high point for INDA and TIP.
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Drawdown Indicators
| INDA | TIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.07% | -14.57% | -30.50% |
Max Drawdown (1Y)Largest decline over 1 year | -18.69% | -1.98% | -16.71% |
Max Drawdown (3Y)Largest decline over 3 years | -22.72% | -4.54% | -18.18% |
Max Drawdown (5Y)Largest decline over 5 years | -22.72% | -14.51% | -8.21% |
Max Drawdown (10Y)Largest decline over 10 years | -45.07% | -14.51% | -30.56% |
Current DrawdownCurrent decline from peak | -17.77% | -0.46% | -17.31% |
Average DrawdownAverage peak-to-trough decline | -9.59% | -3.43% | -6.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.09% | 0.66% | +7.43% |
Volatility
INDA vs. TIP - Volatility Comparison
iShares MSCI India ETF (INDA) has a higher volatility of 4.16% compared to iShares TIPS Bond ETF (TIP) at 1.03%. This indicates that INDA's price experiences larger fluctuations and is considered to be riskier than TIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INDA | TIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.16% | 1.03% | +3.13% |
Volatility (6M)Calculated over the trailing 6-month period | 12.77% | 2.32% | +10.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.79% | 3.39% | +11.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.40% | 6.21% | +9.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.11% | 5.74% | +15.37% |
INDA vs. TIP - Expense Ratio Comparison
INDA has a 0.69% expense ratio, which is higher than TIP's 0.18% expense ratio.
Dividends
INDA vs. TIP - Dividend Comparison
INDA has not paid dividends to shareholders, while TIP's dividend yield for the trailing twelve months is around 3.76%.
| 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% |
TIP iShares TIPS Bond ETF | 3.76% | 3.46% | 2.52% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% |
Frequently Asked Questions
INDA and TIP have a correlation of 0.20, 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 TIP (1.03%). In terms of maximum drawdown, INDA dropped -45.07% vs TIP's -14.57%.
On 10-year performance, INDA leads with 7.09% vs 2.53% for TIP. On fees, TIP is cheaper at 0.18% per year. On volatility, TIP has been the lower-risk option at 1.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, INDA has performed better with a 7.09% return vs 2.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TIP is cheaper with a 0.18% expense ratio, compared with 0.69% for INDA.
TIP has the higher dividend yield at 3.76%, compared with 0.00% for INDA.
INDA is categorized as Asia Pacific Equities, while TIP is Inflation-Protected Bonds. INDA tracks MSCI India Index, while TIP tracks ICE U.S. Treasury Inflation Linked Bond Index. Their fees differ too: 0.69% for INDA and 0.18% for TIP.
TIP currently has the higher Sharpe Ratio (1.37 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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