INDY vs. MINDX
Compare and contrast key facts about iShares India 50 ETF (INDY) and Matthews India Fund (MINDX).
INDY is a passively managed fund by iShares that tracks the performance of the S&P CNX Nifty Index. It was launched on Nov 18, 2009. MINDX is managed by Matthews. It was launched on Oct 30, 2005.
Performance
INDY vs. MINDX - Performance Comparison
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INDY vs. MINDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INDY iShares India 50 ETF | -14.30% | 4.97% | 3.47% | 16.88% | -7.31% | 19.43% | 10.01% | 9.99% | -4.32% | 36.15% |
MINDX Matthews India Fund | -19.53% | 1.61% | 9.99% | 23.14% | -9.87% | 17.87% | 16.46% | -0.79% | -9.80% | 33.76% |
Returns By Period
In the year-to-date period, INDY achieves a -14.30% return, which is significantly higher than MINDX's -19.53% return. Over the past 10 years, INDY has outperformed MINDX with an annualized return of 6.85%, while MINDX has yielded a comparatively lower 5.11% annualized return.
INDY
- 1D
- 3.10%
- 1M
- -10.49%
- YTD
- -14.30%
- 6M
- -10.15%
- 1Y
- -9.92%
- 3Y*
- 3.84%
- 5Y*
- 2.45%
- 10Y*
- 6.85%
MINDX
- 1D
- -1.97%
- 1M
- -13.99%
- YTD
- -19.53%
- 6M
- -16.55%
- 1Y
- -12.76%
- 3Y*
- 3.95%
- 5Y*
- 2.71%
- 10Y*
- 5.11%
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INDY vs. MINDX - Expense Ratio Comparison
INDY has a 0.94% expense ratio, which is lower than MINDX's 1.15% expense ratio.
Return for Risk
INDY vs. MINDX — Risk / Return Rank
INDY
MINDX
INDY vs. MINDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares India 50 ETF (INDY) and Matthews India Fund (MINDX). 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.
| INDY | MINDX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.67 | -0.83 | +0.16 |
Sortino ratioReturn per unit of downside risk | -0.90 | -1.10 | +0.19 |
Omega ratioGain probability vs. loss probability | 0.90 | 0.87 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | -0.51 | -0.52 | +0.01 |
Martin ratioReturn relative to average drawdown | -1.73 | -2.00 | +0.27 |
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
| INDY | MINDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.67 | -0.83 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.17 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.35 | 0.30 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.39 | -0.17 |
Correlation
The correlation between INDY and MINDX is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
INDY vs. MINDX - Dividend Comparison
INDY's dividend yield for the trailing twelve months is around 9.46%, more than MINDX's 8.40% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
INDY iShares India 50 ETF | 9.46% | 8.11% | 0.24% | 0.38% | 3.75% | 7.12% | 0.08% | 0.58% | 0.55% | 0.27% | 0.48% | 0.57% |
MINDX Matthews India Fund | 8.40% | 6.76% | 15.03% | 3.07% | 15.30% | 9.87% | 3.03% | 12.04% | 16.50% | 0.00% | 0.00% | 0.99% |
Drawdowns
INDY vs. MINDX - Drawdown Comparison
The maximum INDY drawdown since its inception was -44.74%, smaller than the maximum MINDX drawdown of -72.18%. Use the drawdown chart below to compare losses from any high point for INDY and MINDX.
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Drawdown Indicators
| INDY | MINDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.74% | -72.18% | +27.44% |
Max Drawdown (1Y)Largest decline over 1 year | -18.95% | -21.96% | +3.01% |
Max Drawdown (5Y)Largest decline over 5 years | -22.40% | -26.51% | +4.11% |
Max Drawdown (10Y)Largest decline over 10 years | -43.50% | -48.46% | +4.96% |
Current DrawdownCurrent decline from peak | -19.99% | -26.51% | +6.52% |
Average DrawdownAverage peak-to-trough decline | -12.16% | -14.90% | +2.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.62% | 5.75% | -0.13% |
Volatility
INDY vs. MINDX - Volatility Comparison
iShares India 50 ETF (INDY) has a higher volatility of 7.32% compared to Matthews India Fund (MINDX) at 6.20%. This indicates that INDY's price experiences larger fluctuations and is considered to be riskier than MINDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INDY | MINDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.32% | 6.20% | +1.12% |
Volatility (6M)Calculated over the trailing 6-month period | 10.91% | 10.72% | +0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.85% | 15.66% | -0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.05% | 15.78% | -0.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.62% | 17.28% | +2.34% |