INDAX vs. TWN
Compare and contrast key facts about ALPS/Kotak India ESG Fund (INDAX) and The Taiwan Fund Inc. (TWN).
INDAX is managed by ALPS. It was launched on Feb 13, 2011. TWN is managed by Nomura Asset Management.
Performance
INDAX vs. TWN - Performance Comparison
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INDAX vs. TWN - 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% |
TWN The Taiwan Fund Inc. | 23.15% | 54.11% | 32.76% | 51.73% | -38.54% | 58.14% | 40.71% | 47.00% | -19.15% | 33.80% |
Returns By Period
In the year-to-date period, INDAX achieves a -17.72% return, which is significantly lower than TWN's 23.15% return. Over the past 10 years, INDAX has underperformed TWN with an annualized return of 6.97%, while TWN has yielded a comparatively higher 24.13% annualized 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%
TWN
- 1D
- 1.00%
- 1M
- -0.36%
- YTD
- 23.15%
- 6M
- 35.55%
- 1Y
- 120.89%
- 3Y*
- 48.50%
- 5Y*
- 27.31%
- 10Y*
- 24.13%
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INDAX vs. TWN - Expense Ratio Comparison
Return for Risk
INDAX vs. TWN — Risk / Return Rank
INDAX
TWN
INDAX vs. TWN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ALPS/Kotak India ESG Fund (INDAX) and The Taiwan Fund Inc. (TWN). 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 | TWN | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.83 | 4.65 | -5.49 |
Sortino ratioReturn per unit of downside risk | -1.10 | 4.97 | -6.07 |
Omega ratioGain probability vs. loss probability | 0.87 | 1.72 | -0.85 |
Calmar ratioReturn relative to maximum drawdown | -0.61 | 6.97 | -7.58 |
Martin ratioReturn relative to average drawdown | -2.14 | 32.73 | -34.87 |
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 | TWN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.83 | 4.65 | -5.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | 1.18 | -1.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 1.10 | -0.69 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.20 | +0.14 |
Correlation
The correlation between INDAX and TWN is 0.36, 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. TWN - Dividend Comparison
INDAX's dividend yield for the trailing twelve months is around 6.83%, less than TWN's 9.43% 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% |
TWN The Taiwan Fund Inc. | 9.43% | 11.62% | 19.14% | 1.26% | 0.00% | 7.78% | 12.91% | 8.26% | 11.27% | 3.16% | 0.00% | 0.00% |
Drawdowns
INDAX vs. TWN - Drawdown Comparison
The maximum INDAX drawdown since its inception was -43.98%, smaller than the maximum TWN drawdown of -79.52%. Use the drawdown chart below to compare losses from any high point for INDAX and TWN.
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Drawdown Indicators
| INDAX | TWN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.98% | -79.52% | +35.54% |
Max Drawdown (1Y)Largest decline over 1 year | -20.85% | -16.74% | -4.11% |
Max Drawdown (5Y)Largest decline over 5 years | -23.49% | -51.72% | +28.23% |
Max Drawdown (10Y)Largest decline over 10 years | -43.98% | -51.72% | +7.74% |
Current DrawdownCurrent decline from peak | -23.49% | -0.44% | -23.05% |
Average DrawdownAverage peak-to-trough decline | -10.67% | -37.58% | +26.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.92% | 3.56% | +2.36% |
Volatility
INDAX vs. TWN - Volatility Comparison
The current volatility for ALPS/Kotak India ESG Fund (INDAX) is 6.24%, while The Taiwan Fund Inc. (TWN) has a volatility of 11.35%. This indicates that INDAX experiences smaller price fluctuations and is considered to be less risky than TWN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INDAX | TWN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.24% | 11.35% | -5.11% |
Volatility (6M)Calculated over the trailing 6-month period | 10.28% | 17.83% | -7.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.65% | 26.22% | -11.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.97% | 23.27% | -8.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.75% | 21.93% | -5.18% |