INDY vs. TLT
INDY (iShares India 50 ETF) and TLT (iShares 20+ Year Treasury Bond ETF) are both exchange-traded funds - INDY is a Asia Pacific Equities fund tracking the S&P CNX Nifty Index, while TLT is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index. Both are passively managed. Over the past 10 years, INDY returned 6.14%/yr vs -1.66%/yr for TLT. At a correlation of -0.16, they often move in opposite directions. INDY charges 0.94%/yr vs 0.15%/yr for TLT.
Performance
INDY vs. TLT - Performance Comparison
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Returns By Period
In the year-to-date period, INDY achieves a -15.38% return, which is significantly lower than TLT's -0.27% return. Over the past 10 years, INDY has outperformed TLT with an annualized return of 6.14%, while TLT has yielded a comparatively lower -1.66% annualized return.
INDY
- 1D
- -1.35%
- 1M
- -3.23%
- YTD
- -15.38%
- 6M
- -14.03%
- 1Y
- -14.69%
- 3Y*
- 1.39%
- 5Y*
- 1.15%
- 10Y*
- 6.14%
TLT
- 1D
- -0.40%
- 1M
- 0.81%
- YTD
- -0.27%
- 6M
- -2.02%
- 1Y
- 4.93%
- 3Y*
- -1.80%
- 5Y*
- -6.31%
- 10Y*
- -1.66%
INDY vs. TLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INDY iShares India 50 ETF | -15.38% | 4.97% | 3.47% | 16.88% | -7.31% | 19.43% | 10.01% | 9.99% | -4.32% | 36.15% |
TLT iShares 20+ Year Treasury Bond ETF | -0.27% | 4.25% | -8.05% | 2.77% | -31.23% | -4.60% | 18.15% | 14.12% | -1.61% | 9.18% |
Correlation
The correlation between INDY and TLT is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Nov 23, 2009 | -0.16 |
The correlation between INDY and TLT shifts across timeframes, from -0.16 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
INDY vs. TLT — Risk / Return Rank
INDY
TLT
INDY vs. TLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares India 50 ETF (INDY) and iShares 20+ Year Treasury Bond ETF (TLT). 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 | TLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.55 | ||
| Sortino ratioReturn per unit of downside risk | -2.29 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.09 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.78 | 0.65 | -1.43 |
| Martin ratioReturn relative to average drawdown | -1.78 | 1.63 | -3.41 |
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 | TLT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.04 | 0.51 | -1.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.08 | -0.40 | +0.48 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | -0.11 | +0.43 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.21 | 0.26 | -0.04 |
Drawdowns
INDY vs. TLT - Drawdown Comparison
The maximum INDY drawdown since its inception was -44.74%, smaller than the maximum TLT drawdown of -48.35%. Use the drawdown chart below to compare losses from any high point for INDY and TLT.
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Drawdown Indicators
| INDY | TLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.74% | -48.35% | +3.61% |
Max Drawdown (1Y)Largest decline over 1 year | -18.95% | -7.58% | -11.37% |
Max Drawdown (3Y)Largest decline over 3 years | -22.40% | -19.18% | -3.22% |
Max Drawdown (5Y)Largest decline over 5 years | -22.40% | -43.70% | +21.30% |
Max Drawdown (10Y)Largest decline over 10 years | -43.50% | -48.35% | +4.85% |
Current DrawdownCurrent decline from peak | -21.00% | -40.44% | +19.44% |
Average DrawdownAverage peak-to-trough decline | -12.22% | -13.82% | +1.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.25% | 3.04% | +5.21% |
Volatility
INDY vs. TLT - Volatility Comparison
iShares India 50 ETF (INDY) has a higher volatility of 4.79% compared to iShares 20+ Year Treasury Bond ETF (TLT) at 2.76%. This indicates that INDY's price experiences larger fluctuations and is considered to be riskier than TLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INDY | TLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.79% | 2.76% | +2.03% |
Volatility (6M)Calculated over the trailing 6-month period | 12.25% | 6.50% | +5.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.18% | 9.77% | +4.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.94% | 15.87% | -0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.58% | 14.91% | +4.67% |
INDY vs. TLT - Expense Ratio Comparison
INDY has a 0.94% expense ratio, which is higher than TLT's 0.15% expense ratio.
Dividends
INDY vs. TLT - Dividend Comparison
INDY's dividend yield for the trailing twelve months is around 9.58%, more than TLT's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
INDY iShares India 50 ETF | 9.58% | 8.11% | 0.24% | 0.38% | 3.75% | 7.12% | 0.08% | 0.58% | 0.55% | 0.27% | 0.48% | 0.57% |
TLT iShares 20+ Year Treasury Bond ETF | 4.59% | 4.43% | 4.30% | 3.38% | 2.67% | 1.50% | 1.50% | 2.27% | 2.63% | 2.43% | 2.60% | 2.61% |
Frequently Asked Questions
INDY and TLT have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INDY has higher volatility (4.79%) compared to TLT (2.76%). In terms of maximum drawdown, INDY dropped -44.74% vs TLT's -48.35%.
On 10-year performance, INDY leads with 6.14% vs -1.66% for TLT. On fees, TLT is cheaper at 0.15% per year. On volatility, TLT has been the lower-risk option at 2.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, INDY has performed better with a 6.14% return vs -1.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TLT is cheaper with a 0.15% expense ratio, compared with 0.94% for INDY.
INDY has the higher dividend yield at 9.58%, compared with 4.59% for TLT.
INDY is categorized as Asia Pacific Equities, while TLT is Government Bonds. INDY tracks S&P CNX Nifty Index, while TLT tracks ICE U.S. Treasury 20+ Year Bond Index. Their fees differ too: 0.94% for INDY and 0.15% for TLT.
TLT currently has the higher Sharpe Ratio (0.51 vs -1.04), 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.
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