INDZ vs. INDA

Last updated Jul 21, 2026

INDZ (VanEck India Select ETF) and INDA (iShares MSCI India ETF) are both exchange-traded funds - INDZ is a Asia Pacific Equities fund actively managed by VanEck, while INDA is a India Equities fund tracking the MSCI India Index. INDZ is actively managed, while INDA is passively managed. Their correlation of 0.87 suggests significant overlap in exposure. INDZ charges 0.75%/yr vs 0.69%/yr for INDA.

Performance

INDZ vs. INDA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck India Select ETF (INDZ) and iShares MSCI India ETF (INDA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

INDZ

• 1D: -0.45%
• 1M: -1.11%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

INDA

• 1D: -0.74%
• 1M: -2.08%
• 6M: -8.14%
• YTD: -10.18%
• 1Y: -10.92%
• 3Y*: 3.30%
• 5Y*: 3.36%
• 10Y*: 6.45%
• ALL TIME*: 5.26%

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

INDZ vs. INDA - Yearly Performance Comparison

	2026 (YTD)
INDZ VanEck India Select ETF	1.00%
INDA iShares MSCI India ETF	-8.95%

Correlation

The correlation between INDZ and INDA is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 19, 2026	0.87

Return for Risk

INDZ vs. INDA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

INDZ

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

INDA

INDA Risk / Return Rank: 3
INDA Sharpe Ratio Rank: 4
INDA Sortino Ratio Rank: 4
INDA Omega Ratio Rank: 4
INDA Calmar Ratio Rank: 4
INDA Martin Ratio Rank: 2

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.

INDZ vs. INDA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck India Select ETF (INDZ) and iShares MSCI India ETF (INDA). 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.

	INDZ	INDA	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.73	—
Sortino ratio: Return per unit of downside risk	—	-0.99	—
Omega ratio: Gain probability vs. loss probability	—	0.89	—
Calmar ratio: Return relative to maximum drawdown	—	-0.61	—
Martin ratio: Return relative to average drawdown	—	-1.37	—

Drawdowns

INDZ vs. INDA - Drawdown Comparison

The maximum INDZ drawdown since its inception was -15.19%, smaller than the maximum INDA drawdown of -45.07%. Use the drawdown chart below to compare losses from any high point for INDZ and INDA.

Drawdown Indicators

	INDZ	INDA	Difference
Max Drawdown Largest peak-to-trough decline	-15.19%	-45.07%	+29.88%
Max Drawdown (1Y) Largest decline over 1 year	—	-17.85%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-22.72%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.72%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.07%	—
Current Drawdown Current decline from peak	-2.85%	-17.40%	+14.55%
Average Drawdown Average peak-to-trough decline	-4.16%	-9.63%	+5.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.99%	—

Volatility

Volatility by Period

	INDZ	INDA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.80%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.08%	—
Volatility (1Y) Calculated over the trailing 1-year period	22.98%	15.00%	+7.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.98%	15.46%	+7.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.98%	21.06%	+1.92%

INDZ vs. INDA - Expense Ratio Comparison

INDZ has a 0.75% expense ratio, which is higher than INDA's 0.69% expense ratio.

Dividends

INDZ vs. INDA - Dividend Comparison

Neither INDZ nor INDA has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
INDA iShares MSCI India ETF	0.00%	0.00%	0.76%	0.16%	0.00%	6.44%	0.27%	0.99%	0.94%	1.09%	0.90%	1.19%
INDZ VanEck India Select ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both INDZ and INDA in my portfolio?

INDZ and INDA have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, INDZ or INDA?

On fees, INDA is cheaper at 0.69% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, INDZ or INDA?

INDA is cheaper with a 0.69% expense ratio, compared with 0.75% for INDZ.

Which ETF pays a higher dividend yield, INDZ or INDA?

INDZ and INDA have nearly identical dividend yields, around 0.00%.

What is the main difference between INDZ and INDA?

INDZ is categorized as Asia Pacific Equities, while INDA is India Equities. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.75% for INDZ and 0.69% for INDA.