INDF vs. ^SSEC

Last updated Jun 24, 2026

INDF (Nifty India Financials ETF) is Financials Equities fund tracking the Nifty Financial Services 25/50 Index, while ^SSEC (Shanghai Composite) is an index. At a 0.08 correlation, their price movements are largely independent.

Performance

INDF vs. ^SSEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nifty India Financials ETF (INDF) and Shanghai Composite (^SSEC). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

INDF is traded in USD, while ^SSEC is traded in CNY. To make them comparable, the ^SSEC values have been converted to USD using the latest available exchange rates.

Returns By Period

INDF

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

^SSEC

• 1D: -0.71%
• 1M: -1.04%
• YTD: 5.55%
• 6M: 7.40%
• 1Y: 27.17%
• 3Y*: 9.59%
• 5Y*: 1.30%
• 10Y*: 2.97%

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

INDF vs. ^SSEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
INDF Nifty India Financials ETF	0.00%	8.17%	6.32%	19.86%	-5.28%	11.95%	24.44%
^SSEC Shanghai Composite	5.55%	23.60%	9.56%	-6.40%	-21.85%	7.66%	6.77%

Correlation

The correlation between INDF and ^SSEC is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (All Time) Calculated using the full available price history since Oct 21, 2020	0.08

Return for Risk

INDF vs. ^SSEC — Risk / Return Rank

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

INDF

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

^SSEC

^SSEC Risk / Return Rank: 57
^SSEC Sharpe Ratio Rank: 57
^SSEC Sortino Ratio Rank: 55
^SSEC Omega Ratio Rank: 59
^SSEC Calmar Ratio Rank: 57
^SSEC Martin Ratio Rank: 58

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.

INDF vs. ^SSEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nifty India Financials ETF (INDF) and Shanghai Composite (^SSEC). 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.

	INDF	^SSEC	Difference
Sharpe ratio: Return per unit of total volatility	—	2.16	—
Sortino ratio: Return per unit of downside risk	—	2.87	—
Omega ratio: Gain probability vs. loss probability	—	1.39	—
Calmar ratio: Return relative to maximum drawdown	—	3.25	—
Martin ratio: Return relative to average drawdown	—	12.40	—

Drawdowns

Drawdown Indicators

	INDF	^SSEC	Difference
Max Drawdown Largest peak-to-trough decline	—	-69.17%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-8.81%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.53%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-35.11%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.35%	—
Current Drawdown Current decline from peak	—	-28.00%	—
Average Drawdown Average peak-to-trough decline	—	-44.68%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.27%	—

Volatility

Volatility by Period

	INDF	^SSEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.06%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.18%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	13.27%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.01%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	17.58%	—

Frequently Asked Questions

Can I hold both INDF and ^SSEC in my portfolio?

INDF and ^SSEC have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.