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INDY vs. KBWP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

INDY vs. KBWP

Last updated Jun 14, 2026

INDY (iShares India 50 ETF) and KBWP (Invesco KBW Property & Casualty Insurance ETF) are both exchange-traded funds - INDY is a Emerging Markets Equities fund tracking the Nifty 50 Index, while KBWP is a Financials Equities fund tracking the KBW Nasdaq Property & Casualty (TR). Both are passively managed. Over the past 10 years, INDY returned 6.65%/yr vs 12.09%/yr for KBWP. At a 0.29 correlation, their price movements are largely independent. INDY charges 0.65%/yr vs 0.35%/yr for KBWP.

Performance

INDY vs. KBWP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares India 50 ETF (INDY) and Invesco KBW Property & Casualty Insurance ETF (KBWP). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, INDY achieves a -13.37% return, which is significantly lower than KBWP's -3.45% return. Over the past 10 years, INDY has underperformed KBWP with an annualized return of 6.65%, while KBWP has yielded a comparatively higher 12.09% annualized return.

INDY

1D
1.16%
1M
0.02%
YTD
-13.37%
6M
-11.62%
1Y
-12.55%
3Y*
1.97%
5Y*
1.75%
10Y*
6.65%

KBWP

1D
0.54%
1M
3.51%
YTD
-3.45%
6M
-2.31%
1Y
1.98%
3Y*
16.13%
5Y*
11.67%
10Y*
12.09%
*Multi-year figures are annualized to reflect compound growth (CAGR)

INDY vs. KBWP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
INDY
iShares India 50 ETF		-13.37%4.97%3.47%16.88%-7.31%19.43%10.01%9.99%-4.32%36.15%
KBWP
Invesco KBW Property & Casualty Insurance ETF		-3.45%11.49%30.45%7.09%10.16%20.61%-2.05%28.67%-2.76%8.86%

Correlation

The correlation between INDY and KBWP is 0.06, 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

0.06

Correlation (3Y)
Calculated over the trailing 3-year period

0.18

Correlation (5Y)
Calculated over the trailing 5-year period

0.30

Correlation (10Y)
Calculated over the trailing 10-year period

0.29

Correlation (All Time)
Calculated using the full available price history since Dec 22, 2010

0.29

Over the past year, the correlation between INDY and KBWP has dropped to 0.06 - well below their long-term average of 0.29, suggesting their price drivers have been diverging.

INDY vs. KBWP - Sectors Allocation Comparison

Sectors
INDY
KBWP

Financial Services

35.2%
100.0%

Consumer Cyclical

11.0%

-

Energy

11.0%

-

Technology

8.5%

-

Industrials

8.0%

-

Basic Materials

7.7%

-

Consumer Defensive

6.0%

-

Communication Services

5.2%

-

Healthcare

4.7%

-

Utilities

2.9%

-

Real Estate

-

-

Financial Services

INDY
35.2%
KBWP
100.0%

Consumer Cyclical

INDY
11.0%
KBWP

-

Energy

INDY
11.0%
KBWP

-

Technology

INDY
8.5%
KBWP

-

Industrials

INDY
8.0%
KBWP

-

Basic Materials

INDY
7.7%
KBWP

-

Consumer Defensive

INDY
6.0%
KBWP

-

Communication Services

INDY
5.2%
KBWP

-

Healthcare

INDY
4.7%
KBWP

-

Utilities

INDY
2.9%
KBWP

-

Real Estate

INDY

-

KBWP

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares India 50 ETF

Invesco KBW Property & Casualty Insurance ETF

Often compared with INDY:
INDY vs. INDAINDY vs. NFTYINDY vs. EPIINDY vs. FLININDY vs. VOOINDY vs. XNIF.LINDY vs. GLIN
Often compared with KBWP:
KBWP vs. IAKKBWP vs. KIEKBWP vs. KBEKBWP vs. ACGLKBWP vs. PSCFKBWP vs. TRVKBWP vs. VOO

Return for Risk

INDY vs. KBWP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
INDY
INDY Risk / Return Rank: 22
Overall Rank
INDY Sharpe Ratio Rank: 22
Sharpe Ratio Rank
INDY Sortino Ratio Rank: 22
Sortino Ratio Rank
INDY Omega Ratio Rank: 22
Omega Ratio Rank
INDY Calmar Ratio Rank: 33
Calmar Ratio Rank
INDY Martin Ratio Rank: 11
Martin Ratio Rank
KBWP
KBWP Risk / Return Rank: 1010
Overall Rank
KBWP Sharpe Ratio Rank: 1010
Sharpe Ratio Rank
KBWP Sortino Ratio Rank: 1010
Sortino Ratio Rank
KBWP Omega Ratio Rank: 1010
Omega Ratio Rank
KBWP Calmar Ratio Rank: 1111
Calmar Ratio Rank
KBWP Martin Ratio Rank: 1111
Martin Ratio Rank
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.

INDY vs. KBWP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares India 50 ETF (INDY) and Invesco KBW Property & Casualty Insurance ETF (KBWP). 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.

INDYKBWPDifference
Sharpe ratioReturn per unit of total volatility
-0.97
0.06

-1.03

Sortino ratioReturn per unit of downside risk
-1.37
0.20

-1.57

Omega ratioGain probability vs. loss probability

0.85

1.02

-0.18

Calmar ratioReturn relative to maximum drawdown

-0.73

0.11

-0.84

Martin ratioReturn relative to average drawdown

-1.59

0.24

-1.83

INDY vs. KBWP - Sharpe Ratio Comparison

The current INDY Sharpe Ratio is -0.97, which is lower than the KBWP Sharpe Ratio of 0.06. The chart below compares the historical Sharpe Ratios of INDY and KBWP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

INDY vs. KBWP - Drawdown Comparison

The maximum INDY drawdown since its inception was -44.74%, which is greater than KBWP's maximum drawdown of -39.76%. Use the drawdown chart below to compare losses from any high point for INDY and KBWP.

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Drawdown Indicators

INDYKBWPDifference

Max Drawdown

Largest peak-to-trough decline

-44.74%

-39.76%

-4.98%

Max Drawdown (1Y)

Largest decline over 1 year

-18.95%

-9.56%

-9.39%

Max Drawdown (3Y)

Largest decline over 3 years

-22.40%

-12.29%

-10.11%

Max Drawdown (5Y)

Largest decline over 5 years

-22.40%

-17.00%

-5.40%

Max Drawdown (10Y)

Largest decline over 10 years

-43.50%

-39.76%

-3.74%

Current Drawdown

Current decline from peak

-19.12%

-4.25%

-14.87%

Average Drawdown

Average peak-to-trough decline

-12.23%

-4.37%

-7.86%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.72%

4.31%

+4.41%

Volatility

INDY vs. KBWP - Volatility Comparison

The current volatility for iShares India 50 ETF (INDY) is 3.98%, while Invesco KBW Property & Casualty Insurance ETF (KBWP) has a volatility of 5.73%. This indicates that INDY experiences smaller price fluctuations and is considered to be less risky than KBWP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

INDYKBWPDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.98%

5.73%

-1.75%

Volatility (6M)

Calculated over the trailing 6-month period

12.35%

12.10%

+0.25%

Volatility (1Y)

Calculated over the trailing 1-year period

14.31%

16.50%

-2.19%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.96%

18.60%

-3.64%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.58%

20.73%

-1.15%

INDY vs. KBWP - Expense Ratio Comparison

INDY has a 0.65% expense ratio, which is higher than KBWP's 0.35% expense ratio.

Dividends

INDY vs. KBWP - Dividend Comparison

INDY's dividend yield for the trailing twelve months is around 9.36%, more than KBWP's 1.92% yield.

PositionTTM20252024202320222021202020192018201720162015
INDY
iShares India 50 ETF		9.36%8.11%0.24%0.38%3.75%7.12%0.08%0.58%0.55%0.27%0.48%0.57%
KBWP
Invesco KBW Property & Casualty Insurance ETF		1.92%1.58%1.64%1.68%1.99%3.02%1.93%1.99%2.11%1.90%2.14%1.35%

Frequently Asked Questions

INDY and KBWP have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

KBWP has higher volatility (5.73%) compared to INDY (3.98%). In terms of maximum drawdown, INDY dropped -44.74% vs KBWP's -39.76%.

On 10-year performance, KBWP leads with 12.09% vs 6.65% for INDY. On fees, KBWP is cheaper at 0.35% per year. On volatility, INDY has been the lower-risk option at 3.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, KBWP has performed better with a 12.09% return vs 6.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

KBWP is cheaper with a 0.35% expense ratio, compared with 0.65% for INDY.

INDY has the higher dividend yield at 9.36%, compared with 1.92% for KBWP.

INDY is categorized as Emerging Markets Equities, while KBWP is Financials Equities. INDY tracks Nifty 50 Index, while KBWP tracks KBW Nasdaq Property & Casualty (TR). They also come from different issuers: iShares and Invesco. Their fees differ too: 0.65% for INDY and 0.35% for KBWP.

KBWP currently has the higher Sharpe Ratio (0.06 vs -0.97), 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.

Portfolio Optimizer

Find the right allocation for INDY and KBWP

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