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INQQ vs. ENZL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

INQQ vs. ENZL

Last updated Aug 2, 2026
Documentation

INQQ (INQQ The India Internet ETF) and ENZL (iShares MSCI New Zealand ETF) are both exchange-traded funds - INQQ is a India Equities fund tracking the INQQ The India Internet & Ecommerce Index - Benchmark TR Gross, while ENZL is a Asia Pacific Equities fund tracking the MSCI New Zealand Investable Market Index. Both are passively managed. Over the past 3 years, INQQ returned 2.99%/yr vs 0.97%/yr for ENZL. Their 0.36 correlation means their historical movements had little consistent relationship. INQQ charges 0.86%/yr vs 0.50%/yr for ENZL.

Performance

INQQ vs. ENZL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in INQQ The India Internet ETF (INQQ) and iShares MSCI New Zealand ETF (ENZL). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, INQQ achieves a -9.24% return, which is significantly lower than ENZL's 4.40% return.

INQQ

1D
0.71%
1M
1.78%
6M
-1.28%
YTD
-9.24%
1Y
-13.28%
3Y*
2.99%
5Y*
—
10Y*
—
ALL TIME*
-3.37%

ENZL

1D
-0.93%
1M
4.18%
6M
0.69%
YTD
4.40%
1Y
7.11%
3Y*
0.97%
5Y*
-2.78%
10Y*
2.99%
ALL TIME*
7.54%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

ENZL

iShares MSCI New Zealand ETF
$6.05M$5.22M$3.06M

INQQ

INQQ The India Internet ETF
$156.31K$248.20K$372.41K

INQQ vs. ENZL - Yearly Performance Comparison

2026 (YTD)2025202420232022
INQQ
INQQ The India Internet ETF		-9.24%-7.05%19.12%31.45%-34.72%
ENZL
iShares MSCI New Zealand ETF		4.40%2.47%-4.86%2.95%-11.51%

Correlation

The correlation between INQQ and ENZL is 0.34, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.34

Correlation (3Y)
Balances recent behavior with more history.

0.34

Correlation (All Time)
Calculated using the full available price history since Apr 6, 2022

0.36

INQQ vs. ENZL - Sectors Allocation Comparison

Sectors
INQQ
ENZL

Consumer Cyclical

35.9%
1.2%

Financial Services

30.2%
1.5%

Technology

10.5%
0.5%

Communication Services

9.6%
3.0%

Energy

7.5%
1.9%

Healthcare

4.7%
30.0%

Consumer Defensive

1.6%
1.4%

Basic Materials

-

4.4%

Industrials

-

30.9%

Real Estate

-

12.9%

Utilities

-

12.6%

Consumer Cyclical

INQQ
35.9%
ENZL
1.2%

Financial Services

INQQ
30.2%
ENZL
1.5%

Technology

INQQ
10.5%
ENZL
0.5%

Communication Services

INQQ
9.6%
ENZL
3.0%

Energy

INQQ
7.5%
ENZL
1.9%

Healthcare

INQQ
4.7%
ENZL
30.0%

Consumer Defensive

INQQ
1.6%
ENZL
1.4%

Basic Materials

INQQ

-

ENZL
4.4%

Industrials

INQQ

-

ENZL
30.9%

Real Estate

INQQ

-

ENZL
12.9%

Utilities

INQQ

-

ENZL
12.6%

Compare stocks, funds, or ETFs

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

INQQ The India Internet ETF

iShares MSCI New Zealand ETF

Often compared with INQQ:
INQQ vs. DGININQQ vs. INCOINQQ vs. FLININQQ vs. EPIINQQ vs. INDAINQQ vs. EYLDINQQ vs. INDY
Often compared with ENZL:
ENZL vs. EIRLENZL vs. EDENENZL vs. MNROENZL vs. IBC6.DEENZL vs. VTIENZL vs. EWAENZL vs. EWQ

Return for Risk

INQQ vs. ENZL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
INQQ
INQQ Risk / Return Rank: 44
Overall Rank
INQQ Sharpe Ratio Rank: 33
Sharpe Ratio Rank
INQQ Sortino Ratio Rank: 33
Sortino Ratio Rank
INQQ Omega Ratio Rank: 33
Omega Ratio Rank
INQQ Calmar Ratio Rank: 66
Calmar Ratio Rank
INQQ Martin Ratio Rank: 66
Martin Ratio Rank
ENZL
ENZL Risk / Return Rank: 2020
Overall Rank
ENZL Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
ENZL Sortino Ratio Rank: 1919
Sortino Ratio Rank
ENZL Omega Ratio Rank: 1919
Omega Ratio Rank
ENZL Calmar Ratio Rank: 1919
Calmar Ratio Rank
ENZL Martin Ratio Rank: 2020
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

INQQ vs. ENZL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for INQQ The India Internet ETF (INQQ) and iShares MSCI New Zealand ETF (ENZL). 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.

INQQENZLDifference
Sharpe ratioReturn per unit of total volatility
-0.73
0.40

-1.13

Sortino ratioReturn per unit of downside risk
-0.98
0.66

-1.64

Omega ratioGain probability vs. loss probability

0.89

1.08

-0.19

Calmar ratioReturn relative to maximum drawdown

-0.44

0.49

-0.93

Martin ratioReturn relative to average drawdown

-0.82

1.30

-2.12

INQQ vs. ENZL - Sharpe Ratio Comparison

The current INQQ Sharpe Ratio is -0.73, which is lower than the ENZL Sharpe Ratio of 0.40. The chart below compares the historical Sharpe Ratios of INQQ and ENZL, 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

INQQ vs. ENZL - Drawdown Comparison

The maximum INQQ drawdown since its inception was -40.53%, roughly equal to the maximum ENZL drawdown of -42.44%. Use the drawdown chart below to compare losses from any high point for INQQ and ENZL.

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Drawdown Indicators

INQQENZLDifference

Max Drawdown

Largest peak-to-trough decline

-40.53%

-42.44%

+1.91%

Max Drawdown (1Y)

Largest decline over 1 year

-30.07%

-12.90%

-17.17%

Max Drawdown (3Y)

Largest decline over 3 years

-32.45%

-20.67%

-11.78%

Max Drawdown (5Y)

Largest decline over 5 years

—

-36.86%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-42.44%

—

Current Drawdown

Current decline from peak

-20.13%

-26.11%

+5.98%

Average Drawdown

Average peak-to-trough decline

-17.28%

-12.93%

-4.35%

Ulcer Index

Depth and duration of drawdowns from previous peaks

16.21%

4.83%

+11.38%

Volatility

INQQ vs. ENZL - Volatility Comparison

INQQ The India Internet ETF (INQQ) has a higher volatility of 5.80% compared to iShares MSCI New Zealand ETF (ENZL) at 4.20%. This indicates that INQQ's price experiences larger fluctuations and is considered to be riskier than ENZL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

INQQENZLDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.80%

4.20%

+1.60%

Volatility (6M)

Calculated over the trailing 6-month period

15.41%

13.72%

+1.69%

Volatility (1Y)

Calculated over the trailing 1-year period

18.23%

15.89%

+2.34%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.94%

18.58%

+1.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.94%

20.37%

-0.43%

INQQ vs. ENZL - Expense Ratio Comparison

INQQ has a 0.86% expense ratio, which is higher than ENZL's 0.50% expense ratio.

Dividends

INQQ vs. ENZL - Dividend Comparison

INQQ's dividend yield for the trailing twelve months is around 2.46%, more than ENZL's 2.16% yield.

PositionTTM20252024202320222021202020192018201720162015
ENZL
iShares MSCI New Zealand ETF		2.16%2.23%2.13%3.00%1.62%2.46%1.66%3.35%3.60%3.69%4.79%4.29%
INQQ
INQQ The India Internet ETF		2.46%2.23%1.18%0.04%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

INQQ and ENZL have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

INQQ has higher volatility (5.80%) compared to ENZL (4.20%). In terms of maximum drawdown, INQQ dropped -40.53% vs ENZL's -42.44%.

On 3-year performance, INQQ leads with 2.99% vs 0.97% for ENZL. On fees, ENZL is cheaper at 0.50% per year. On volatility, ENZL has been the lower-risk option at 4.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, INQQ has performed better with a 2.99% return vs 0.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ENZL is cheaper with a 0.50% expense ratio, compared with 0.86% for INQQ.

INQQ has the higher dividend yield at 2.46%, compared with 2.16% for ENZL.

INQQ is categorized as India Equities, while ENZL is Asia Pacific Equities. INQQ tracks INQQ The India Internet & Ecommerce Index - Benchmark TR Gross, while ENZL tracks MSCI New Zealand Investable Market Index. They also come from different issuers: EMQQ Global and iShares. Their fees differ too: 0.86% for INQQ and 0.50% for ENZL.

ENZL currently has the higher Sharpe Ratio (0.40 vs -0.73), 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

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