INRL.L vs. XNIF.L

Last updated Jul 18, 2026

INRL.L (Lyxor MSCI India UCITS ETF - Acc (USD)) and XNIF.L (Xtrackers Nifty 50 Swap UCITS ETF 1C) are both India Equities funds tracking the MSCI India NR USD, from Amundi and Xtrackers respectively. Both are passively managed. Over the past 10 years, INRL.L returned 6.20%/yr vs 6.17%/yr for XNIF.L. A 0.80 correlation means they provide meaningful diversification when combined. Both charge a 0.85% expense ratio.

Performance

INRL.L vs. XNIF.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Lyxor MSCI India UCITS ETF - Acc (USD) (INRL.L) and Xtrackers Nifty 50 Swap UCITS ETF 1C (XNIF.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, INRL.L achieves a -10.19% return, which is significantly higher than XNIF.L's -13.58% return. Both investments have delivered pretty close results over the past 10 years, with INRL.L having a 6.20% annualized return and XNIF.L not far behind at 6.17%.

INRL.L

• 1D: 0.88%
• 1M: -1.58%
• 6M: -8.25%
• YTD: -10.19%
• 1Y: -12.59%
• 3Y*: 2.35%
• 5Y*: 4.14%
• 10Y*: 6.20%

XNIF.L

• 1D: 1.22%
• 1M: -1.22%
• 6M: -11.12%
• YTD: -13.58%
• 1Y: -14.30%
• 3Y*: 0.19%
• 5Y*: 3.66%
• 10Y*: 6.17%

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

INRL.L vs. XNIF.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
INRL.L Lyxor MSCI India UCITS ETF - Acc (USD)	-10.19%	-5.74%	11.19%	12.56%	1.46%	25.81%	9.68%	2.69%	-3.77%	24.93%
XNIF.L Xtrackers Nifty 50 Swap UCITS ETF 1C	-13.58%	-1.71%	6.70%	11.98%	5.08%	23.10%	7.50%	5.06%	-1.17%	23.90%

Correlation

The correlation between INRL.L and XNIF.L is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jan 2, 2008	0.80

The correlation between INRL.L and XNIF.L shifts across timeframes, from 0.80 (all time) to 0.97 (10 years), reflecting how their relationship changes across market environments.

INRL.L vs. XNIF.L - Sectors Allocation Comparison

Sectors	INRL.L	XNIF.L
Financial Services	28.3%	11.0%
Consumer Cyclical	12.5%	19.7%
Industrials	10.7%	2.3%
Energy	9.0%	5.4%
Basic Materials	8.4%	2.6%
Technology	8.2%	22.4%
Healthcare	6.3%	11.0%
Consumer Defensive	6.0%	7.7%
Communication Services	4.7%	17.1%
Utilities	4.5%	0.9%
Real Estate	1.4%	-

Return for Risk

INRL.L vs. XNIF.L — Risk / Return Rank

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

INRL.L

INRL.L Risk / Return Rank: 3
INRL.L Sharpe Ratio Rank: 3
INRL.L Sortino Ratio Rank: 3
INRL.L Omega Ratio Rank: 3
INRL.L Calmar Ratio Rank: 4
INRL.L Martin Ratio Rank: 3

XNIF.L

XNIF.L Risk / Return Rank: 3
XNIF.L Sharpe Ratio Rank: 2
XNIF.L Sortino Ratio Rank: 3
XNIF.L Omega Ratio Rank: 3
XNIF.L Calmar Ratio Rank: 4
XNIF.L Martin Ratio Rank: 3

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.

INRL.L vs. XNIF.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lyxor MSCI India UCITS ETF - Acc (USD) (INRL.L) and Xtrackers Nifty 50 Swap UCITS ETF 1C (XNIF.L). 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.

	INRL.L	XNIF.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.80	-0.94	+0.15
Sortino ratio: Return per unit of downside risk	-1.08	-1.32	+0.24
Omega ratio: Gain probability vs. loss probability	0.88	0.86	+0.02
Calmar ratio: Return relative to maximum drawdown	-0.63	-0.68	+0.05
Martin ratio: Return relative to average drawdown	-1.25	-1.24	-0.01

INRL.L vs. XNIF.L - Sharpe Ratio Comparison

The current INRL.L Sharpe Ratio is -0.80, which is comparable to the XNIF.L Sharpe Ratio of -0.94. The chart below compares the historical Sharpe Ratios of INRL.L and XNIF.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

INRL.L vs. XNIF.L - Drawdown Comparison

The maximum INRL.L drawdown since its inception was -72.96%, smaller than the maximum XNIF.L drawdown of -78.21%. Use the drawdown chart below to compare losses from any high point for INRL.L and XNIF.L.

Drawdown Indicators

	INRL.L	XNIF.L	Difference
Max Drawdown Largest peak-to-trough decline	-72.96%	-78.21%	+5.25%
Max Drawdown (1Y) Largest decline over 1 year	-19.97%	-21.09%	+1.12%
Max Drawdown (3Y) Largest decline over 3 years	-26.82%	-25.36%	-1.46%
Max Drawdown (5Y) Largest decline over 5 years	-26.82%	-25.36%	-1.46%
Max Drawdown (10Y) Largest decline over 10 years	-37.58%	-38.55%	+0.97%
Current Drawdown Current decline from peak	-21.54%	-21.79%	+0.25%
Average Drawdown Average peak-to-trough decline	-16.26%	-33.76%	+17.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.08%	11.52%	-1.44%

Volatility

INRL.L vs. XNIF.L - Volatility Comparison

Lyxor MSCI India UCITS ETF - Acc (USD) (INRL.L) and Xtrackers Nifty 50 Swap UCITS ETF 1C (XNIF.L) have volatilities of 4.19% and 4.36%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	INRL.L	XNIF.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.19%	4.36%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	13.04%	12.78%	+0.26%
Volatility (1Y) Calculated over the trailing 1-year period	15.76%	15.13%	+0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.04%	20.78%	-4.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.71%	21.81%	-2.10%

INRL.L vs. XNIF.L - Expense Ratio Comparison

Both INRL.L and XNIF.L have an expense ratio of 0.85%.

Dividends

INRL.L vs. XNIF.L - Dividend Comparison

Neither INRL.L nor XNIF.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both INRL.L and XNIF.L in my portfolio?

With a correlation of 0.96, INRL.L and XNIF.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, INRL.L or XNIF.L?

Both ETFs have the same 0.85% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, INRL.L or XNIF.L?

INRL.L and XNIF.L have the same expense ratio: 0.85% per year.

What is the main difference between INRL.L and XNIF.L?

Both ETFs track MSCI India NR USD. They also come from different issuers: Amundi and Xtrackers.