INDY vs. WAINX
INDY (iShares India 50 ETF) and WAINX (Wasatch Emerging India Fund) are both funds - INDY is a Emerging Markets Equities fund tracking the Nifty 50 Index, while WAINX is a Asia Pacific Equities fund managed by Wasatch. Over the past 10 years, INDY returned 7.09%/yr vs 10.22%/yr for WAINX. A 0.67 correlation means they provide meaningful diversification when combined. INDY charges 0.65%/yr vs 1.51%/yr for WAINX.
Performance
INDY vs. WAINX - Performance Comparison
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Returns By Period
In the year-to-date period, INDY achieves a -11.13% return, which is significantly lower than WAINX's -2.40% return. Over the past 10 years, INDY has underperformed WAINX with an annualized return of 7.09%, while WAINX has yielded a comparatively higher 10.22% annualized return.
INDY
- 1D
- 1.39%
- 1M
- 2.94%
- YTD
- -11.13%
- 6M
- -11.04%
- 1Y
- -11.60%
- 3Y*
- 2.89%
- 5Y*
- 2.45%
- 10Y*
- 7.09%
WAINX
- 1D
- -0.98%
- 1M
- 8.56%
- YTD
- -2.40%
- 6M
- -3.10%
- 1Y
- -11.05%
- 3Y*
- 4.51%
- 5Y*
- 3.17%
- 10Y*
- 10.22%
INDY vs. WAINX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INDY iShares India 50 ETF | -11.13% | 4.97% | 3.47% | 16.88% | -7.31% | 19.43% | 10.01% | 9.99% | -4.32% | 36.15% |
WAINX Wasatch Emerging India Fund | -2.40% | -5.33% | 9.23% | 20.90% | -21.77% | 37.56% | 17.63% | 13.78% | -5.45% | 53.39% |
Correlation
The correlation between INDY and WAINX is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.64 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Apr 26, 2011 | 0.67 |
The correlation between INDY and WAINX has been stable across timeframes, ranging from 0.64 to 0.67 - a consistent structural relationship.
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Return for Risk
INDY vs. WAINX — Risk / Return Rank
INDY
WAINX
INDY vs. WAINX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares India 50 ETF (INDY) and Wasatch Emerging India Fund (WAINX). 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 | WAINX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 0.91 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | -0.61 | -0.35 | -0.27 |
| Martin ratioReturn relative to average drawdown | -1.29 | -0.70 | -0.59 |
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Drawdowns
INDY vs. WAINX - Drawdown Comparison
The maximum INDY drawdown since its inception was -44.74%, which is greater than WAINX's maximum drawdown of -41.34%. Use the drawdown chart below to compare losses from any high point for INDY and WAINX.
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Drawdown Indicators
| INDY | WAINX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.74% | -41.34% | -3.40% |
Max Drawdown (1Y)Largest decline over 1 year | -18.95% | -28.83% | +9.88% |
Max Drawdown (3Y)Largest decline over 3 years | -22.40% | -31.01% | +8.61% |
Max Drawdown (5Y)Largest decline over 5 years | -22.40% | -31.01% | +8.61% |
Max Drawdown (10Y)Largest decline over 10 years | -43.50% | -41.34% | -2.16% |
Current DrawdownCurrent decline from peak | -17.04% | -15.63% | -1.41% |
Average DrawdownAverage peak-to-trough decline | -12.24% | -9.34% | -2.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.02% | 14.22% | -5.20% |
Volatility
INDY vs. WAINX - Volatility Comparison
The current volatility for iShares India 50 ETF (INDY) is 4.24%, while Wasatch Emerging India Fund (WAINX) has a volatility of 4.56%. This indicates that INDY experiences smaller price fluctuations and is considered to be less risky than WAINX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| INDY | WAINX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.24% | 4.56% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 12.51% | 14.17% | -1.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.42% | 16.90% | -2.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.99% | 17.31% | -2.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.53% | 19.05% | +0.48% |
INDY vs. WAINX - Expense Ratio Comparison
INDY has a 0.65% expense ratio, which is lower than WAINX's 1.51% expense ratio.
Dividends
INDY vs. WAINX - Dividend Comparison
INDY's dividend yield for the trailing twelve months is around 9.37%, less than WAINX's 29.89% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
INDY iShares India 50 ETF | 9.37% | 8.11% | 0.24% | 0.38% | 3.75% | 7.12% | 0.08% | 0.58% | 0.55% | 0.27% | 0.48% | 0.57% |
WAINX Wasatch Emerging India Fund | 29.89% | 29.17% | 20.19% | 4.23% | 1.15% | 4.29% | 0.00% | 0.32% | 6.95% | 2.91% | 1.06% | 1.40% |
Frequently Asked Questions
INDY and WAINX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WAINX has higher volatility (4.56%) compared to INDY (4.24%). In terms of maximum drawdown, INDY dropped -44.74% vs WAINX's -41.34%.
WAINX currently has the higher Sharpe Ratio (-0.59 vs -0.81), 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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