MINDX vs. IVV
MINDX (Matthews India Fund) and IVV (iShares Core S&P 500 ETF) are both funds - MINDX is a Asia Pacific Equities fund managed by Matthews, while IVV is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, MINDX returned 5.53%/yr vs 15.54%/yr for IVV. At a 0.45 correlation, their price movements are largely independent. MINDX charges 1.15%/yr vs 0.03%/yr for IVV.
Performance
MINDX vs. IVV - Performance Comparison
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Returns By Period
In the year-to-date period, MINDX achieves a -12.84% return, which is significantly lower than IVV's 10.85% return. Over the past 10 years, MINDX has underperformed IVV with an annualized return of 5.53%, while IVV has yielded a comparatively higher 15.54% annualized return.
MINDX
- 1D
- 0.24%
- 1M
- -0.57%
- YTD
- -12.84%
- 6M
- -12.27%
- 1Y
- -9.91%
- 3Y*
- 3.98%
- 5Y*
- 3.02%
- 10Y*
- 5.53%
IVV
- 1D
- -0.76%
- 1M
- 4.97%
- YTD
- 10.85%
- 6M
- 10.87%
- 1Y
- 28.00%
- 3Y*
- 22.43%
- 5Y*
- 13.88%
- 10Y*
- 15.54%
MINDX vs. IVV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MINDX Matthews India Fund | -12.84% | 1.61% | 9.99% | 23.14% | -9.87% | 17.87% | 16.46% | -0.79% | -9.80% | 33.76% |
IVV iShares Core S&P 500 ETF | 10.85% | 17.85% | 24.93% | 26.31% | -18.16% | 28.76% | 18.40% | 31.07% | -4.49% | 21.75% |
Correlation
The correlation between MINDX and IVV is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2005 | 0.45 |
Over the past year, the correlation between MINDX and IVV has dropped to 0.24 - well below their long-term average of 0.45, suggesting their price drivers have been diverging.
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Return for Risk
MINDX vs. IVV — Risk / Return Rank
MINDX
IVV
MINDX vs. IVV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Matthews India Fund (MINDX) and iShares Core S&P 500 ETF (IVV). 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.
| MINDX | IVV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.09 | ||
| Sortino ratioReturn per unit of downside risk | -4.18 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.43 | -0.54 |
| Calmar ratioReturn relative to maximum drawdown | -0.50 | 3.17 | -3.67 |
| Martin ratioReturn relative to average drawdown | -1.27 | 14.71 | -15.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MINDX | IVV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.70 | 2.39 | -3.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | 0.83 | -0.63 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.32 | 0.86 | -0.54 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.45 | -0.05 |
Drawdowns
MINDX vs. IVV - Drawdown Comparison
The maximum MINDX drawdown since its inception was -72.18%, which is greater than IVV's maximum drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for MINDX and IVV.
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Drawdown Indicators
| MINDX | IVV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.18% | -55.25% | -16.93% |
Max Drawdown (1Y)Largest decline over 1 year | -21.96% | -8.89% | -13.07% |
Max Drawdown (3Y)Largest decline over 3 years | -26.51% | -18.75% | -7.76% |
Max Drawdown (5Y)Largest decline over 5 years | -26.51% | -24.53% | -1.98% |
Max Drawdown (10Y)Largest decline over 10 years | -48.46% | -33.90% | -14.56% |
Current DrawdownCurrent decline from peak | -20.40% | -0.76% | -19.64% |
Average DrawdownAverage peak-to-trough decline | -14.95% | -10.78% | -4.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.53% | 1.91% | +6.62% |
Volatility
MINDX vs. IVV - Volatility Comparison
Matthews India Fund (MINDX) has a higher volatility of 5.24% compared to iShares Core S&P 500 ETF (IVV) at 2.87%. This indicates that MINDX's price experiences larger fluctuations and is considered to be riskier than IVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MINDX | IVV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.24% | 2.87% | +2.37% |
Volatility (6M)Calculated over the trailing 6-month period | 13.09% | 8.90% | +4.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.73% | 11.80% | +3.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.90% | 16.88% | -0.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.43% | 18.05% | -0.62% |
MINDX vs. IVV - Expense Ratio Comparison
MINDX has a 1.15% expense ratio, which is higher than IVV's 0.03% expense ratio.
Dividends
MINDX vs. IVV - Dividend Comparison
MINDX's dividend yield for the trailing twelve months is around 7.76%, more than IVV's 1.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVV iShares Core S&P 500 ETF | 1.06% | 1.17% | 1.30% | 1.44% | 1.66% | 1.20% | 1.57% | 1.85% | 2.21% | 1.75% | 2.01% | 2.27% |
MINDX Matthews India Fund | 7.76% | 6.76% | 15.03% | 3.07% | 15.30% | 9.87% | 3.03% | 12.04% | 16.50% | 0.00% | 0.00% | 0.99% |
Frequently Asked Questions
MINDX and IVV have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MINDX has higher volatility (5.24%) compared to IVV (2.87%). In terms of maximum drawdown, MINDX dropped -72.18% vs IVV's -55.25%.
IVV currently has the higher Sharpe Ratio (2.39 vs -0.70), 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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