INDAX vs. ALIBX

Last updated Apr 1, 2026

Compare and contrast key facts about ALPS/Kotak India ESG Fund (INDAX) and ALPS/Smith Balanced Opportunity Fund (ALIBX).

INDAX is managed by ALPS. It was launched on Feb 13, 2011. ALIBX is managed by ALPS. It was launched on Sep 14, 2020.

Performance

INDAX vs. ALIBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ALPS/Kotak India ESG Fund (INDAX) and ALPS/Smith Balanced Opportunity Fund (ALIBX). The values are adjusted to include any dividend payments, if applicable.

INDAX vs. ALIBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
INDAX ALPS/Kotak India ESG Fund	-17.72%	2.03%	10.94%	16.77%	-12.62%	26.37%	16.84%
ALIBX ALPS/Smith Balanced Opportunity Fund	-2.50%	12.89%	14.89%	16.01%	-16.24%	15.50%	8.25%

Returns By Period

In the year-to-date period, INDAX achieves a -17.72% return, which is significantly lower than ALIBX's -2.50% return.

INDAX

• 1D: -1.80%
• 1M: -13.54%
• YTD: -17.72%
• 6M: -15.44%
• 1Y: -12.38%
• 3Y*: 3.65%
• 5Y*: 2.06%
• 10Y*: 6.97%

ALIBX

• 1D: -0.16%
• 1M: -6.62%
• YTD: -2.50%
• 6M: 0.95%
• 1Y: 12.14%
• 3Y*: 11.65%
• 5Y*: 6.12%
• 10Y*: —

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

INDAX vs. ALIBX - Expense Ratio Comparison

INDAX has a 1.33% expense ratio, which is higher than ALIBX's 1.12% expense ratio.

INDAX

ALPS/Kotak India ESG Fund

ALIBX

ALPS/Smith Balanced Opportunity Fund

Return for Risk

INDAX vs. ALIBX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

INDAX

INDAX Risk / Return Rank: 1
INDAX Sharpe Ratio Rank: 1
INDAX Sortino Ratio Rank: 0
INDAX Omega Ratio Rank: 1
INDAX Calmar Ratio Rank: 1
INDAX Martin Ratio Rank: 0

ALIBX

ALIBX Risk / Return Rank: 60
ALIBX Sharpe Ratio Rank: 61
ALIBX Sortino Ratio Rank: 62
ALIBX Omega Ratio Rank: 57
ALIBX Calmar Ratio Rank: 59
ALIBX Martin Ratio Rank: 61

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.

INDAX vs. ALIBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ALPS/Kotak India ESG Fund (INDAX) and ALPS/Smith Balanced Opportunity Fund (ALIBX). 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.

	INDAX	ALIBX	Difference
Sharpe ratio Return per unit of total volatility	-0.83	1.11	-1.94
Sortino ratio Return per unit of downside risk	-1.10	1.60	-2.70
Omega ratio Gain probability vs. loss probability	0.87	1.23	-0.35
Calmar ratio Return relative to maximum drawdown	-0.61	1.39	-2.00
Martin ratio Return relative to average drawdown	-2.14	5.82	-7.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

INDAX vs. ALIBX - Sharpe Ratio Comparison

The current INDAX Sharpe Ratio is -0.83, which is lower than the ALIBX Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of INDAX and ALIBX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	INDAX	ALIBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.83	1.11	-1.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	0.55	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.74	-0.40

Correlation

The correlation between INDAX and ALIBX is 0.45, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

INDAX vs. ALIBX - Dividend Comparison

INDAX's dividend yield for the trailing twelve months is around 6.83%, less than ALIBX's 9.42% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
INDAX ALPS/Kotak India ESG Fund	6.83%	5.62%	16.14%	4.43%	1.65%	5.48%	0.00%	1.30%	6.55%	2.79%	1.32%	15.14%
ALIBX ALPS/Smith Balanced Opportunity Fund	9.42%	9.14%	10.61%	1.37%	1.08%	0.56%	0.12%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

INDAX vs. ALIBX - Drawdown Comparison

The maximum INDAX drawdown since its inception was -43.98%, which is greater than ALIBX's maximum drawdown of -20.38%. Use the drawdown chart below to compare losses from any high point for INDAX and ALIBX.

Drawdown Indicators

	INDAX	ALIBX	Difference
Max Drawdown Largest peak-to-trough decline	-43.98%	-20.38%	-23.60%
Max Drawdown (1Y) Largest decline over 1 year	-20.85%	-7.88%	-12.97%
Max Drawdown (5Y) Largest decline over 5 years	-23.49%	-20.38%	-3.11%
Max Drawdown (10Y) Largest decline over 10 years	-43.98%	—	—
Current Drawdown Current decline from peak	-23.49%	-7.13%	-16.36%
Average Drawdown Average peak-to-trough decline	-10.67%	-4.87%	-5.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.92%	1.88%	+4.04%

Volatility

INDAX vs. ALIBX - Volatility Comparison

ALPS/Kotak India ESG Fund (INDAX) has a higher volatility of 6.24% compared to ALPS/Smith Balanced Opportunity Fund (ALIBX) at 3.40%. This indicates that INDAX's price experiences larger fluctuations and is considered to be riskier than ALIBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INDAX	ALIBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.24%	3.40%	+2.84%
Volatility (6M) Calculated over the trailing 6-month period	10.28%	6.66%	+3.62%
Volatility (1Y) Calculated over the trailing 1-year period	14.65%	11.44%	+3.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.97%	11.10%	+3.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.75%	11.02%	+5.73%