IYW vs. INDA
IYW (iShares U.S. Technology ETF) and INDA (iShares MSCI India ETF) are both exchange-traded funds - IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index, while INDA is a India Equities fund tracking the MSCI India Index. Both are passively managed. Over the past 10 years, IYW returned 24.67%/yr vs 6.45%/yr for INDA. At a 0.45 correlation, their price movements are largely independent. IYW charges 0.38%/yr vs 0.69%/yr for INDA.
Performance
IYW vs. INDA - Performance Comparison
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Returns By Period
In the year-to-date period, IYW achieves a 20.26% return, which is significantly higher than INDA's -10.18% return. Over the past 10 years, IYW has outperformed INDA with an annualized return of 24.67%, while INDA has yielded a comparatively lower 6.45% annualized return.
IYW
- 1D
- 0.31%
- 1M
- -5.36%
- 6M
- 20.13%
- YTD
- 20.26%
- 1Y
- 34.44%
- 3Y*
- 29.86%
- 5Y*
- 19.12%
- 10Y*
- 24.67%
- ALL TIME*
- 9.20%
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%
IYW vs. INDA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IYW iShares U.S. Technology ETF | 20.26% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 46.64% | -0.93% | 36.60% |
INDA iShares MSCI India ETF | -10.18% | 2.68% | 8.63% | 17.16% | -8.94% | 21.36% | 14.83% | 6.49% | -6.67% | 36.08% |
Correlation
The correlation between IYW and INDA is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.37 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.46 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2012 | 0.45 |
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Return for Risk
IYW vs. INDA — Risk / Return Rank
IYW
INDA
IYW vs. INDA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Technology ETF (IYW) 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.
| IYW | INDA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.23 | ||
| Sortino ratioReturn per unit of downside risk | +3.00 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 0.89 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 1.94 | -0.61 | +2.56 |
| Martin ratioReturn relative to average drawdown | 5.97 | -1.37 | +7.34 |
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Drawdowns
IYW vs. INDA - Drawdown Comparison
The maximum IYW drawdown since its inception was -81.90%, which is greater than INDA's maximum drawdown of -45.07%. Use the drawdown chart below to compare losses from any high point for IYW and INDA.
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Drawdown Indicators
| IYW | INDA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.90% | -45.07% | -36.83% |
Max Drawdown (1Y)Largest decline over 1 year | -17.81% | -17.85% | +0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -26.47% | -22.72% | -3.75% |
Max Drawdown (5Y)Largest decline over 5 years | -39.44% | -22.72% | -16.72% |
Max Drawdown (10Y)Largest decline over 10 years | -39.44% | -45.07% | +5.63% |
Current DrawdownCurrent decline from peak | -7.66% | -17.40% | +9.74% |
Average DrawdownAverage peak-to-trough decline | -34.51% | -9.63% | -24.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.78% | 7.99% | -2.21% |
Volatility
IYW vs. INDA - Volatility Comparison
iShares U.S. Technology ETF (IYW) has a higher volatility of 8.60% compared to iShares MSCI India ETF (INDA) at 3.80%. This indicates that IYW's price experiences larger fluctuations and is considered to be riskier than INDA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IYW | INDA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.60% | 3.80% | +4.80% |
Volatility (6M)Calculated over the trailing 6-month period | 19.42% | 13.08% | +6.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.17% | 15.00% | +8.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.37% | 15.46% | +10.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.30% | 21.06% | +4.24% |
IYW vs. INDA - Expense Ratio Comparison
IYW has a 0.38% expense ratio, which is lower than INDA's 0.69% expense ratio.
Dividends
IYW vs. INDA - Dividend Comparison
IYW's dividend yield for the trailing twelve months is around 0.11%, while INDA has not 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% |
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
Frequently Asked Questions
IYW and INDA have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYW has higher volatility (8.60%) compared to INDA (3.80%). In terms of maximum drawdown, IYW dropped -81.90% vs INDA's -45.07%.
On 10-year performance, IYW leads with 24.67% vs 6.45% for INDA. On fees, IYW is cheaper at 0.38% per year. On volatility, INDA has been the lower-risk option at 3.80%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IYW has performed better with a 24.67% return vs 6.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYW is cheaper with a 0.38% expense ratio, compared with 0.69% for INDA.
IYW has the higher dividend yield at 0.11%, compared with 0.00% for INDA.
IYW is categorized as Technology Equities, while INDA is India Equities. IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index, while INDA tracks MSCI India Index. Their fees differ too: 0.38% for IYW and 0.69% for INDA.
IYW currently has the higher Sharpe Ratio (1.50 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.
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