IPAC vs. INDH

Last updated Aug 2, 2026

IPAC (iShares Core MSCI Pacific ETF) and INDH (WisdomTree India Hedged Equity Fund) are both exchange-traded funds - IPAC is a Asia Pacific Equities fund tracking the MSCI Pacific IMI Index (Net), while INDH is a India Equities fund tracking the WisdomTree India Hedged Equity Index. Both are passively managed. Over the past year, IPAC returned 26.06% vs -2.60% for INDH. Their 0.46 correlation means their historical movements had little consistent relationship. IPAC charges 0.09%/yr vs 0.64%/yr for INDH.

Performance

IPAC vs. INDH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core MSCI Pacific ETF (IPAC) and WisdomTree India Hedged Equity Fund (INDH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IPAC achieves a 14.24% return, which is significantly higher than INDH's -6.93% return.

IPAC

• 1D: -0.96%
• 1M: 0.87%
• 6M: 7.59%
• YTD: 14.24%
• 1Y: 26.06%
• 3Y*: 16.33%
• 5Y*: 8.37%
• 10Y*: 8.82%
• ALL TIME*: 7.31%

INDH

• 1D: -0.39%
• 1M: -0.07%
• 6M: -4.34%
• YTD: -6.93%
• 1Y: -2.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 1.94%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
INDH WisdomTree India Hedged Equity Fund	$20.02K	$17.53K	$22.76K
IPAC iShares Core MSCI Pacific ETF	$5.46M	$8.24M	$8.98M

IPAC vs. INDH - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IPAC iShares Core MSCI Pacific ETF	14.24%	25.16%	2.47%
INDH WisdomTree India Hedged Equity Fund	-6.93%	6.76%	5.03%

Correlation

The correlation between IPAC and INDH is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.51
Correlation (All Time) Calculated using the full available price history since May 9, 2024	0.46

The correlation between IPAC and INDH has been stable across timeframes, ranging from 0.46 to 0.51 - a consistent structural relationship.

IPAC vs. INDH - Sectors Allocation Comparison

Sectors	IPAC	INDH
Financial Services	24.9%	24.5%
Industrials	20.5%	7.8%
Technology	13.7%	8.9%
Consumer Cyclical	10.6%	13.4%
Basic Materials	8.3%	9.0%
Healthcare	5.4%	6.1%
Real Estate	5.0%	0.4%
Consumer Defensive	4.0%	7.3%
Communication Services	3.8%	4.9%
Energy	1.7%	12.3%
Utilities	1.6%	5.5%

Return for Risk

IPAC vs. INDH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IPAC

IPAC Risk / Return Rank: 67
IPAC Sharpe Ratio Rank: 67
IPAC Sortino Ratio Rank: 66
IPAC Omega Ratio Rank: 69
IPAC Calmar Ratio Rank: 67
IPAC Martin Ratio Rank: 67

INDH

INDH Risk / Return Rank: 8
INDH Sharpe Ratio Rank: 8
INDH Sortino Ratio Rank: 7
INDH Omega Ratio Rank: 7
INDH Calmar Ratio Rank: 8
INDH Martin Ratio Rank: 8

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.

IPAC vs. INDH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core MSCI Pacific ETF (IPAC) and WisdomTree India Hedged Equity Fund (INDH). 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.

	IPAC	INDH	Difference
Sharpe ratio: Return per unit of total volatility	1.52	-0.20	+1.72
Sortino ratio: Return per unit of downside risk	2.15	-0.18	+2.34
Omega ratio: Gain probability vs. loss probability	1.28	0.98	+0.31
Calmar ratio: Return relative to maximum drawdown	2.32	-0.20	+2.53
Martin ratio: Return relative to average drawdown	8.11	-0.46	+8.57

IPAC vs. INDH - Sharpe Ratio Comparison

The current IPAC Sharpe Ratio is 1.52, which is higher than the INDH Sharpe Ratio of -0.20. The chart below compares the historical Sharpe Ratios of IPAC and INDH, 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

IPAC vs. INDH - Drawdown Comparison

The maximum IPAC drawdown since its inception was -30.99%, which is greater than INDH's maximum drawdown of -15.05%. Use the drawdown chart below to compare losses from any high point for IPAC and INDH.

Drawdown Indicators

	IPAC	INDH	Difference
Max Drawdown Largest peak-to-trough decline	-30.99%	-15.05%	-15.94%
Max Drawdown (1Y) Largest decline over 1 year	-11.49%	-12.94%	+1.45%
Max Drawdown (3Y) Largest decline over 3 years	-15.45%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.64%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-30.99%	—	—
Current Drawdown Current decline from peak	-1.71%	-9.00%	+7.29%
Average Drawdown Average peak-to-trough decline	-7.41%	-5.96%	-1.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.29%	5.63%	-2.34%

Volatility

IPAC vs. INDH - Volatility Comparison

iShares Core MSCI Pacific ETF (IPAC) has a higher volatility of 5.93% compared to WisdomTree India Hedged Equity Fund (INDH) at 3.20%. This indicates that IPAC's price experiences larger fluctuations and is considered to be riskier than INDH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IPAC	INDH	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.93%	3.20%	+2.73%
Volatility (6M) Calculated over the trailing 6-month period	14.93%	11.93%	+3.00%
Volatility (1Y) Calculated over the trailing 1-year period	17.58%	13.36%	+4.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.89%	14.24%	+2.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.65%	14.24%	+2.41%

IPAC vs. INDH - Expense Ratio Comparison

IPAC has a 0.09% expense ratio, which is lower than INDH's 0.64% expense ratio.

Dividends

IPAC vs. INDH - Dividend Comparison

IPAC's dividend yield for the trailing twelve months is around 3.86%, less than INDH's 5.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
INDH WisdomTree India Hedged Equity Fund	5.64%	5.25%	0.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IPAC iShares Core MSCI Pacific ETF	3.86%	4.32%	3.43%	3.16%	2.76%	4.03%	1.68%	3.37%	2.95%	2.98%	2.66%	2.60%

Frequently Asked Questions

Can I hold both IPAC and INDH in my portfolio?

IPAC and INDH have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IPAC or INDH?

IPAC has higher volatility (5.93%) compared to INDH (3.20%). In terms of maximum drawdown, IPAC dropped -30.99% vs INDH's -15.05%.

Which ETF is better, IPAC or INDH?

On 1-year performance, IPAC leads with 26.06% vs -2.60% for INDH. On fees, IPAC is cheaper at 0.09% per year. On volatility, INDH has been the lower-risk option at 3.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IPAC or INDH?

Over the 1-year period, IPAC has performed better with a 26.06% return vs -2.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IPAC or INDH?

IPAC is cheaper with a 0.09% expense ratio, compared with 0.64% for INDH.

Which ETF pays a higher dividend yield, IPAC or INDH?

INDH has the higher dividend yield at 5.64%, compared with 3.86% for IPAC.

What is the main difference between IPAC and INDH?

IPAC is categorized as Asia Pacific Equities, while INDH is India Equities. IPAC tracks MSCI Pacific IMI Index (Net), while INDH tracks WisdomTree India Hedged Equity Index. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.09% for IPAC and 0.64% for INDH.

Which has better risk-adjusted returns?

IPAC currently has the higher Sharpe Ratio (1.52 vs -0.20), 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.