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 6.15%/yr vs 15.57%/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 -9.35% return, which is significantly lower than IVV's 8.13% return. Over the past 10 years, MINDX has underperformed IVV with an annualized return of 6.15%, while IVV has yielded a comparatively higher 15.57% annualized return.
MINDX
- 1D
- -0.95%
- 1M
- 4.30%
- YTD
- -9.35%
- 6M
- -9.42%
- 1Y
- -7.53%
- 3Y*
- 4.79%
- 5Y*
- 3.67%
- 10Y*
- 6.15%
IVV
- 1D
- -0.07%
- 1M
- -1.40%
- YTD
- 8.13%
- 6M
- 6.81%
- 1Y
- 22.31%
- 3Y*
- 20.76%
- 5Y*
- 13.03%
- 10Y*
- 15.57%
MINDX vs. IVV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MINDX Matthews India Fund | -9.35% | 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 | 8.13% | 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 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.25 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.31 |
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 Oct 31, 2005 | 0.45 |
Over the past year, the correlation between MINDX and IVV has dropped to 0.25 - 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.
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.
| MINDX | IVV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.21 | ||
| Sortino ratioReturn per unit of downside risk | -2.95 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.33 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.30 | 2.52 | -2.82 |
| Martin ratioReturn relative to average drawdown | -0.70 | 11.21 | -11.91 |
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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 | -17.21% | -3.20% | -14.01% |
Average DrawdownAverage peak-to-trough decline | -14.96% | -10.76% | -4.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.18% | 2.00% | +7.18% |
Volatility
MINDX vs. IVV - Volatility Comparison
Matthews India Fund (MINDX) and iShares Core S&P 500 ETF (IVV) have volatilities of 4.81% and 4.86%, 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.
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Volatility by Period
| MINDX | IVV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.81% | 4.86% | -0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 13.57% | 9.81% | +3.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.96% | 12.44% | +3.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.98% | 16.98% | -1.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.47% | 18.06% | -0.59% |
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 7.46%, more than IVV's 1.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVV iShares Core S&P 500 ETF | 1.11% | 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 | 7.46% | 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 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVV has higher volatility (4.86%) compared to MINDX (4.81%). In terms of maximum drawdown, MINDX dropped -72.18% vs IVV's -55.25%.
IVV currently has the higher Sharpe Ratio (1.81 vs -0.41), 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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