INDF vs. CEFS

Last updated Apr 1, 2026

Compare and contrast key facts about Nifty India Financials ETF (INDF) and Saba Closed-End Funds ETF (CEFS).

INDF and CEFS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. INDF is a passively managed fund by Exchange Traded Concepts that tracks the performance of the Nifty Financial Services 25/50 Index. It was launched on Oct 20, 2020. CEFS is an actively managed fund by Exchange Traded Concepts. It was launched on Mar 21, 2017.

Performance

INDF vs. CEFS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nifty India Financials ETF (INDF) and Saba Closed-End Funds ETF (CEFS). The values are adjusted to include any dividend payments, if applicable.

INDF vs. CEFS - 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%	23.97%
CEFS Saba Closed-End Funds ETF	-0.33%	16.67%	23.48%	20.99%	-7.08%	17.86%	7.59%

Returns By Period

INDF

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

CEFS

• 1D: 2.04%
• 1M: -2.99%
• YTD: -0.33%
• 6M: 3.31%
• 1Y: 14.56%
• 3Y*: 17.06%
• 5Y*: 11.58%
• 10Y*: —

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

INDF vs. CEFS - Expense Ratio Comparison

INDF has a 0.75% expense ratio, which is lower than CEFS's 3.80% expense ratio.

CEFS

Saba Closed-End Funds ETF

INDF

Nifty India Financials ETF

Return for Risk

INDF vs. CEFS — Risk / Return Rank

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

CEFS

CEFS Risk / Return Rank: 66
CEFS Sharpe Ratio Rank: 66
CEFS Sortino Ratio Rank: 63
CEFS Omega Ratio Rank: 70
CEFS Calmar Ratio Rank: 61
CEFS Martin Ratio Rank: 72

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. CEFS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nifty India Financials ETF (INDF) and Saba Closed-End Funds ETF (CEFS). 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.

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

Sharpe Ratios by Period

	INDF	CEFS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.11	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.90	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.70	—

Correlation

The correlation between INDF and CEFS is 0.34, 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

INDF vs. CEFS - Dividend Comparison

INDF's dividend yield for the trailing twelve months is around 21.29%, more than CEFS's 8.01% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
INDF Nifty India Financials ETF	21.29%	21.29%	6.15%	8.84%	3.12%	1.58%	0.00%	0.00%	0.00%	0.00%
CEFS Saba Closed-End Funds ETF	8.01%	7.84%	8.79%	9.20%	11.32%	10.73%	8.61%	8.10%	10.43%	5.02%

Drawdowns

Drawdown Indicators

	INDF	CEFS	Difference
Max Drawdown Largest peak-to-trough decline	—	-38.99%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-9.80%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.85%	—
Current Drawdown Current decline from peak	—	-3.75%	—
Average Drawdown Average peak-to-trough decline	—	-3.73%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.02%	—

Volatility

Volatility by Period

	INDF	CEFS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.75%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.46%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	13.15%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	12.99%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	15.38%	—