INDE vs. IMVP
INDE (Matthews India Active ETF) and IMVP (Invesco India ETF) are both exchange-traded funds - INDE is a Asia Pacific Equities fund actively managed by Matthews, while IMVP is a Emerging Markets Equities fund tracking the FTSE India Quality and Yield Select Index. INDE is actively managed, while IMVP is passively managed. Over the past year, INDE returned -5.01% vs -16.87% for IMVP. Their correlation of 0.86 suggests significant overlap in exposure. INDE charges 0.79%/yr vs 0.78%/yr for IMVP.
Performance
INDE vs. IMVP - Performance Comparison
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Returns By Period
In the year-to-date period, INDE achieves a -8.87% return, which is significantly higher than IMVP's -16.08% return.
INDE
- 1D
- -1.13%
- 1M
- 1.10%
- YTD
- -8.87%
- 6M
- -8.36%
- 1Y
- -5.01%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IMVP
- 1D
- -2.11%
- 1M
- -2.53%
- YTD
- -16.08%
- 6M
- -14.80%
- 1Y
- -16.87%
- 3Y*
- 2.95%
- 5Y*
- 2.42%
- 10Y*
- 8.19%
INDE vs. IMVP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
INDE Matthews India Active ETF | -8.87% | 2.39% | 10.95% | 8.18% |
IMVP Invesco India ETF | -16.08% | 1.30% | 9.07% | 10.50% |
Correlation
The correlation between INDE and IMVP is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2023 | 0.86 |
The correlation between INDE and IMVP has been stable across timeframes, ranging from 0.86 to 0.86 - a consistent structural relationship.
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Return for Risk
INDE vs. IMVP — Risk / Return Rank
INDE
IMVP
INDE vs. IMVP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Matthews India Active ETF (INDE) and Invesco India ETF (IMVP). 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.
| INDE | IMVP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +1.13 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 0.83 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | -0.26 | -0.79 | +0.53 |
| Martin ratioReturn relative to average drawdown | -0.71 | -1.84 | +1.14 |
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
| INDE | IMVP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.30 | -1.05 | +0.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.15 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.42 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.26 | 0.12 | +0.15 |
Drawdowns
INDE vs. IMVP - Drawdown Comparison
The maximum INDE drawdown since its inception was -22.89%, smaller than the maximum IMVP drawdown of -64.54%. Use the drawdown chart below to compare losses from any high point for INDE and IMVP.
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Drawdown Indicators
| INDE | IMVP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.89% | -64.54% | +41.65% |
Max Drawdown (1Y)Largest decline over 1 year | -19.10% | -21.44% | +2.34% |
Max Drawdown (3Y)Largest decline over 3 years | — | -25.80% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.80% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.69% | — |
Current DrawdownCurrent decline from peak | -15.61% | -23.71% | +8.10% |
Average DrawdownAverage peak-to-trough decline | -7.52% | -16.70% | +9.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.13% | 9.16% | -2.03% |
Volatility
INDE vs. IMVP - Volatility Comparison
Matthews India Active ETF (INDE) has a higher volatility of 6.75% compared to Invesco India ETF (IMVP) at 6.00%. This indicates that INDE's price experiences larger fluctuations and is considered to be riskier than IMVP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INDE | IMVP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.75% | 6.00% | +0.75% |
Volatility (6M)Calculated over the trailing 6-month period | 14.33% | 14.16% | +0.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.62% | 16.17% | +0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.51% | 16.11% | +0.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.51% | 19.59% | -3.08% |
INDE vs. IMVP - Expense Ratio Comparison
INDE has a 0.79% expense ratio, which is higher than IMVP's 0.78% expense ratio.
Dividends
INDE vs. IMVP - Dividend Comparison
INDE's dividend yield for the trailing twelve months is around 1.93%, less than IMVP's 8.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IMVP Invesco India ETF | 8.81% | 7.39% | 8.48% | 2.08% | 14.07% | 6.95% | 0.72% | 36.35% | 0.96% | 1.01% | 1.18% | 0.61% |
INDE Matthews India Active ETF | 1.93% | 1.75% | 0.56% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
INDE and IMVP have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INDE has higher volatility (6.75%) compared to IMVP (6.00%). In terms of maximum drawdown, INDE dropped -22.89% vs IMVP's -64.54%.
On 1-year performance, INDE leads with -5.01% vs -16.87% for IMVP. On fees, IMVP is cheaper at 0.78% per year. On volatility, IMVP has been the lower-risk option at 6.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, INDE has performed better with a -5.01% return vs -16.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IMVP is cheaper with a 0.78% expense ratio, compared with 0.79% for INDE.
IMVP has the higher dividend yield at 8.81%, compared with 1.93% for INDE.
INDE is categorized as Asia Pacific Equities, while IMVP is Emerging Markets Equities. They also come from different issuers: Matthews and Invesco. Their fees differ too: 0.79% for INDE and 0.78% for IMVP.
INDE currently has the higher Sharpe Ratio (-0.30 vs -1.05), 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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