NDIA vs. ^GSPC
NDIA (Global X Funds - Global X India Active ETF) is India Equities fund actively managed by Global X, while ^GSPC (S&P 500 Index) is an index. Over the past year, NDIA returned -3.06% vs 22.22% for ^GSPC. Their 0.43 correlation means their historical movements had little consistent relationship.
Performance
NDIA vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, NDIA achieves a -6.48% return, which is significantly lower than ^GSPC's 13.02% return.
NDIA
- 1D
- 0.52%
- 1M
- 2.08%
- 6M
- -5.26%
- YTD
- -6.48%
- 1Y
- -3.06%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.48%
^GSPC
- 1D
- 1.79%
- 1M
- 3.38%
- 6M
- 11.83%
- YTD
- 13.02%
- 1Y
- 22.22%
- 3Y*
- 19.99%
- 5Y*
- 11.80%
- 10Y*
- 13.49%
- ALL TIME*
- 8.15%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
^GSPC S&P 500 Index | $38.53T | $37.79T | $41.47T |
| $48.95K | $84.79K | $398.34K |
NDIA vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
NDIA Global X Funds - Global X India Active ETF | -6.48% | 5.04% | 5.75% | 12.76% |
^GSPC S&P 500 Index | 13.02% | 16.39% | 23.31% | 9.14% |
Correlation
The correlation between NDIA and ^GSPC is 0.50, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.50 |
Correlation (All Time) Calculated using the full available price history since Aug 18, 2023 | 0.43 |
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Return for Risk
NDIA vs. ^GSPC — Risk / Return Rank
NDIA
^GSPC
NDIA vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Funds - Global X India Active ETF (NDIA) and S&P 500 Index (^GSPC). 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.
| NDIA | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.92 | ||
| Sortino ratioReturn per unit of downside risk | -2.56 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.31 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 2.45 | -2.63 |
| Martin ratioReturn relative to average drawdown | -0.41 | 10.40 | -10.81 |
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Drawdowns
NDIA vs. ^GSPC - Drawdown Comparison
The maximum NDIA drawdown since its inception was -22.05%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for NDIA and ^GSPC.
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Drawdown Indicators
| NDIA | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.05% | -56.78% | +34.73% |
Max Drawdown (1Y)Largest decline over 1 year | -17.09% | -9.10% | -7.99% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -13.28% | 0.00% | -13.28% |
Average DrawdownAverage peak-to-trough decline | -7.56% | -10.70% | +3.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.50% | 2.14% | +5.36% |
Volatility
NDIA vs. ^GSPC - Volatility Comparison
Global X Funds - Global X India Active ETF (NDIA) has a higher volatility of 4.61% compared to S&P 500 Index (^GSPC) at 4.12%. This indicates that NDIA's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NDIA | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.61% | 4.12% | +0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 13.84% | 10.33% | +3.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.30% | 12.95% | +3.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.60% | 17.04% | -1.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.60% | 18.09% | -2.49% |
Frequently Asked Questions
NDIA and ^GSPC have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NDIA has higher volatility (4.61%) compared to ^GSPC (4.12%). In terms of maximum drawdown, NDIA dropped -22.05% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (1.73 vs -0.19), 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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