INDAX vs. SPHD
Compare and contrast key facts about ALPS/Kotak India ESG Fund (INDAX) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD).
INDAX is managed by ALPS. It was launched on Feb 13, 2011. SPHD is a passively managed fund by Invesco that tracks the performance of the S&P Low Volatility High Dividend index. It was launched on Oct 18, 2012.
Performance
INDAX vs. SPHD - Performance Comparison
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INDAX vs. SPHD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INDAX ALPS/Kotak India ESG Fund | -17.72% | 2.03% | 10.94% | 16.77% | -12.62% | 26.37% | 14.68% | 8.41% | -12.51% | 39.77% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 4.64% | 3.41% | 18.08% | 1.32% | 0.58% | 24.98% | -9.98% | 20.26% | -6.17% | 11.90% |
Returns By Period
In the year-to-date period, INDAX achieves a -17.72% return, which is significantly lower than SPHD's 4.64% return. Both investments have delivered pretty close results over the past 10 years, with INDAX having a 6.97% annualized return and SPHD not far ahead at 7.24%.
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%
SPHD
- 1D
- 0.55%
- 1M
- -4.99%
- YTD
- 4.64%
- 6M
- 2.81%
- 1Y
- 3.20%
- 3Y*
- 9.99%
- 5Y*
- 7.05%
- 10Y*
- 7.24%
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INDAX vs. SPHD - Expense Ratio Comparison
INDAX has a 1.33% expense ratio, which is higher than SPHD's 0.30% expense ratio.
Return for Risk
INDAX vs. SPHD — Risk / Return Rank
INDAX
SPHD
INDAX vs. SPHD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ALPS/Kotak India ESG Fund (INDAX) and Invesco S&P 500® High Dividend Low Volatility ETF (SPHD). 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 | SPHD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.83 | 0.22 | -1.06 |
Sortino ratioReturn per unit of downside risk | -1.10 | 0.41 | -1.50 |
Omega ratioGain probability vs. loss probability | 0.87 | 1.05 | -0.18 |
Calmar ratioReturn relative to maximum drawdown | -0.61 | 0.38 | -0.99 |
Martin ratioReturn relative to average drawdown | -2.14 | 1.22 | -3.36 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| INDAX | SPHD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.83 | 0.22 | -1.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | 0.50 | -0.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.41 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.59 | -0.25 |
Correlation
The correlation between INDAX and SPHD is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
INDAX vs. SPHD - Dividend Comparison
INDAX's dividend yield for the trailing twelve months is around 6.83%, more than SPHD's 4.31% 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% |
SPHD Invesco S&P 500® High Dividend Low Volatility ETF | 4.31% | 4.02% | 3.41% | 4.48% | 3.89% | 3.45% | 4.89% | 4.07% | 4.40% | 3.14% | 3.83% | 3.49% |
Drawdowns
INDAX vs. SPHD - Drawdown Comparison
The maximum INDAX drawdown since its inception was -43.98%, which is greater than SPHD's maximum drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for INDAX and SPHD.
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Drawdown Indicators
| INDAX | SPHD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.98% | -41.39% | -2.59% |
Max Drawdown (1Y)Largest decline over 1 year | -20.85% | -11.33% | -9.52% |
Max Drawdown (5Y)Largest decline over 5 years | -23.49% | -19.50% | -3.99% |
Max Drawdown (10Y)Largest decline over 10 years | -43.98% | -41.39% | -2.59% |
Current DrawdownCurrent decline from peak | -23.49% | -5.14% | -18.35% |
Average DrawdownAverage peak-to-trough decline | -10.67% | -4.70% | -5.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.92% | 3.67% | +2.25% |
Volatility
INDAX vs. SPHD - Volatility Comparison
ALPS/Kotak India ESG Fund (INDAX) has a higher volatility of 6.24% compared to Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) at 3.21%. This indicates that INDAX's price experiences larger fluctuations and is considered to be riskier than SPHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INDAX | SPHD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.24% | 3.21% | +3.03% |
Volatility (6M)Calculated over the trailing 6-month period | 10.28% | 7.91% | +2.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.65% | 14.51% | +0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.97% | 14.20% | +0.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.75% | 17.65% | -0.90% |