INDY vs. ASEA

Last updated Aug 4, 2026

INDY (iShares India 50 ETF) and ASEA (Global X FTSE Southeast Asia ETF) are both exchange-traded funds - INDY is a India Equities fund tracking the Nifty 50 Index, while ASEA is a Asia Pacific Equities fund tracking the FTSE/ASEAN 40 Index. Both are passively managed. Over the past 10 years, INDY returned 6.16%/yr vs 7.69%/yr for ASEA. Their 0.55 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.65% expense ratio.

Performance

INDY vs. ASEA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares India 50 ETF (INDY) and Global X FTSE Southeast Asia ETF (ASEA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INDY achieves a -10.20% return, which is significantly lower than ASEA's 17.89% return. Over the past 10 years, INDY has underperformed ASEA with an annualized return of 6.16%, while ASEA has yielded a comparatively higher 7.69% annualized return.

INDY

• 1D: 0.94%
• 1M: 1.12%
• 6M: -8.51%
• YTD: -10.20%
• 1Y: -7.43%
• 3Y*: 2.00%
• 5Y*: 2.17%
• 10Y*: 6.16%
• ALL TIME*: 5.00%

ASEA

• 1D: 0.24%
• 1M: 7.20%
• 6M: 10.70%
• YTD: 17.89%
• 1Y: 33.20%
• 3Y*: 15.87%
• 5Y*: 12.90%
• 10Y*: 7.69%
• ALL TIME*: 5.38%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ASEA Global X FTSE Southeast Asia ETF	$373.34K	$548.14K	$590.36K
INDY iShares India 50 ETF	$4.15M	$4.11M	$5.43M

INDY vs. ASEA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
INDY iShares India 50 ETF	-10.20%	4.97%	3.47%	16.88%	-7.31%	19.43%	10.01%	9.99%	-4.32%	36.15%
ASEA Global X FTSE Southeast Asia ETF	17.89%	19.80%	9.82%	4.88%	5.24%	4.66%	-7.88%	8.34%	-7.58%	35.06%

Correlation

The correlation between INDY and ASEA is 0.39, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.39
Correlation (3Y) Balances recent behavior with more history.	0.40
Correlation (5Y) Shows whether the relationship held over a longer period.	0.48
Correlation (10Y) Provides a long-term view across more market conditions.	0.50
Correlation (All Time) Calculated using the full available price history since Feb 17, 2011	0.55

The correlation between INDY and ASEA shifts across timeframes, from 0.39 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.

INDY vs. ASEA - Sectors Allocation Comparison

Sectors	INDY	ASEA
Financial Services	37.0%	60.3%
Consumer Cyclical	11.2%	0.7%
Energy	10.6%	3.2%
Industrials	8.1%	15.6%
Technology	7.4%	-
Basic Materials	7.1%	1.5%
Consumer Defensive	5.8%	2.1%
Communication Services	5.2%	8.0%
Healthcare	4.9%	2.2%
Utilities	2.7%	4.3%
Real Estate	-	2.8%

Return for Risk

INDY vs. ASEA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

INDY

INDY Risk / Return Rank: 5
INDY Sharpe Ratio Rank: 5
INDY Sortino Ratio Rank: 5
INDY Omega Ratio Rank: 5
INDY Calmar Ratio Rank: 6
INDY Martin Ratio Rank: 6

ASEA

ASEA Risk / Return Rank: 88
ASEA Sharpe Ratio Rank: 90
ASEA Sortino Ratio Rank: 91
ASEA Omega Ratio Rank: 89
ASEA Calmar Ratio Rank: 91
ASEA Martin Ratio Rank: 79

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

INDY vs. ASEA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares India 50 ETF (INDY) and Global X FTSE Southeast Asia ETF (ASEA). 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.

	INDY	ASEA	Difference
Sharpe ratio: Return per unit of total volatility	-0.51	2.33	-2.83
Sortino ratio: Return per unit of downside risk	-0.66	3.30	-3.95
Omega ratio: Gain probability vs. loss probability	0.93	1.41	-0.49
Calmar ratio: Return relative to maximum drawdown	-0.41	4.03	-4.44
Martin ratio: Return relative to average drawdown	-0.81	10.75	-11.56

INDY vs. ASEA - Sharpe Ratio Comparison

The current INDY Sharpe Ratio is -0.51, which is lower than the ASEA Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of INDY and ASEA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

INDY vs. ASEA - Drawdown Comparison

The maximum INDY drawdown since its inception was -44.74%, roughly equal to the maximum ASEA drawdown of -44.16%. Use the drawdown chart below to compare losses from any high point for INDY and ASEA.

Drawdown Indicators

	INDY	ASEA	Difference
Max Drawdown Largest peak-to-trough decline	-44.74%	-44.16%	-0.58%
Max Drawdown (1Y) Largest decline over 1 year	-18.09%	-8.28%	-9.81%
Max Drawdown (3Y) Largest decline over 3 years	-22.40%	-22.20%	-0.20%
Max Drawdown (5Y) Largest decline over 5 years	-22.40%	-22.20%	-0.20%
Max Drawdown (10Y) Largest decline over 10 years	-43.50%	-44.16%	+0.66%
Current Drawdown Current decline from peak	-16.16%	-0.33%	-15.83%
Average Drawdown Average peak-to-trough decline	-12.28%	-10.56%	-1.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.14%	3.10%	+6.04%

Volatility

INDY vs. ASEA - Volatility Comparison

iShares India 50 ETF (INDY) has a higher volatility of 4.20% compared to Global X FTSE Southeast Asia ETF (ASEA) at 3.18%. This indicates that INDY's price experiences larger fluctuations and is considered to be riskier than ASEA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INDY	ASEA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.20%	3.18%	+1.02%
Volatility (6M) Calculated over the trailing 6-month period	12.83%	11.34%	+1.49%
Volatility (1Y) Calculated over the trailing 1-year period	14.70%	14.37%	+0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.02%	14.71%	+0.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.52%	17.49%	+2.03%

INDY vs. ASEA - Expense Ratio Comparison

Both INDY and ASEA have an expense ratio of 0.65%.

Dividends

INDY vs. ASEA - Dividend Comparison

INDY's dividend yield for the trailing twelve months is around 9.27%, more than ASEA's 3.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASEA Global X FTSE Southeast Asia ETF	3.67%	3.95%	3.61%	3.76%	2.23%	4.19%	2.27%	2.51%	3.08%	1.59%	2.78%	3.64%
INDY iShares India 50 ETF	9.27%	8.11%	0.24%	0.38%	3.75%	7.12%	0.08%	0.58%	0.55%	0.27%	0.48%	0.57%

Frequently Asked Questions

Can I hold both INDY and ASEA in my portfolio?

INDY and ASEA have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, INDY or ASEA?

INDY has higher volatility (4.20%) compared to ASEA (3.18%). In terms of maximum drawdown, INDY dropped -44.74% vs ASEA's -44.16%.

Which ETF is better, INDY or ASEA?

On 10-year performance, ASEA leads with 7.69% vs 6.16% for INDY. Both ETFs have the same 0.65% expense ratio. On volatility, ASEA has been the lower-risk option at 3.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, INDY or ASEA?

Over the 10-year period, ASEA has performed better with a 7.69% return vs 6.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, INDY or ASEA?

INDY and ASEA have the same expense ratio: 0.65% per year.

Which ETF pays a higher dividend yield, INDY or ASEA?

INDY has the higher dividend yield at 9.27%, compared with 3.67% for ASEA.

What is the main difference between INDY and ASEA?

INDY is categorized as India Equities, while ASEA is Asia Pacific Equities. INDY tracks Nifty 50 Index, while ASEA tracks FTSE/ASEAN 40 Index. They also come from different issuers: iShares and Global X.

Which has better risk-adjusted returns?

ASEA currently has the higher Sharpe Ratio (2.33 vs -0.51), 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.