NDIA vs. ILKAY

Last updated Aug 5, 2026

NDIA (Global X Funds - Global X India Active ETF) is India Equities fund actively managed by Global X, while ILKAY (Iluka Resources Ltd ADR) is a stock. Over the past year, NDIA returned -3.06% vs 38.95% for ILKAY. Their 0.05 correlation means their historical movements had little consistent relationship.

Performance

NDIA vs. ILKAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Funds - Global X India Active ETF (NDIA) and Iluka Resources Ltd ADR (ILKAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NDIA achieves a -6.48% return, which is significantly lower than ILKAY's 27.36% return.

NDIA

• 1D: 0.52%
• 1M: 2.08%
• 6M: -5.26%
• YTD: -6.48%
• 1Y: -3.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.48%

ILKAY

• 1D: 9.80%
• 1M: 2.50%
• 6M: 29.09%
• YTD: 27.36%
• 1Y: 38.95%
• 3Y*: -8.77%
• 5Y*: -5.78%
• 10Y*: 7.50%
• ALL TIME*: 2.34%

*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)
ILKAY Iluka Resources Ltd ADR	$81.70K	$52.59K	$63.16K
NDIA Global X Funds - Global X India Active ETF	$48.95K	$84.79K	$398.34K

NDIA vs. ILKAY - 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%
ILKAY Iluka Resources Ltd ADR	27.36%	19.25%	-26.93%	-28.23%

Correlation

The correlation between NDIA and ILKAY is 0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.08
Correlation (All Time) Calculated using the full available price history since Aug 18, 2023	0.05

Return for Risk

NDIA vs. ILKAY — Risk / Return Rank

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

NDIA

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

ILKAY

ILKAY Risk / Return Rank: 62
ILKAY Sharpe Ratio Rank: 61
ILKAY Sortino Ratio Rank: 61
ILKAY Omega Ratio Rank: 63
ILKAY Calmar Ratio Rank: 63
ILKAY Martin Ratio Rank: 60

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.

NDIA vs. ILKAY - 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 Iluka Resources Ltd ADR (ILKAY). 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	ILKAY	Difference
Sharpe ratio: Return per unit of total volatility	-0.19	0.50	-0.69
Sortino ratio: Return per unit of downside risk	-0.16	1.19	-1.35
Omega ratio: Gain probability vs. loss probability	0.98	1.16	-0.18
Calmar ratio: Return relative to maximum drawdown	-0.18	0.89	-1.07
Martin ratio: Return relative to average drawdown	-0.41	1.55	-1.96

NDIA vs. ILKAY - Sharpe Ratio Comparison

The current NDIA Sharpe Ratio is -0.19, which is lower than the ILKAY Sharpe Ratio of 0.50. The chart below compares the historical Sharpe Ratios of NDIA and ILKAY, 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

NDIA vs. ILKAY - Drawdown Comparison

The maximum NDIA drawdown since its inception was -22.05%, smaller than the maximum ILKAY drawdown of -79.51%. Use the drawdown chart below to compare losses from any high point for NDIA and ILKAY.

Drawdown Indicators

	NDIA	ILKAY	Difference
Max Drawdown Largest peak-to-trough decline	-22.05%	-79.51%	+57.46%
Max Drawdown (1Y) Largest decline over 1 year	-17.09%	-43.96%	+26.87%
Max Drawdown (3Y) Largest decline over 3 years	—	-72.03%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-77.94%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-77.94%	—
Current Drawdown Current decline from peak	-13.28%	-42.28%	+29.00%
Average Drawdown Average peak-to-trough decline	-7.56%	-47.20%	+39.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.50%	25.20%	-17.70%

Volatility

NDIA vs. ILKAY - Volatility Comparison

The current volatility for Global X Funds - Global X India Active ETF (NDIA) is 4.61%, while Iluka Resources Ltd ADR (ILKAY) has a volatility of 32.15%. This indicates that NDIA experiences smaller price fluctuations and is considered to be less risky than ILKAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NDIA	ILKAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.61%	32.15%	-27.54%
Volatility (6M) Calculated over the trailing 6-month period	13.84%	52.64%	-38.80%
Volatility (1Y) Calculated over the trailing 1-year period	16.30%	78.52%	-62.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.60%	56.81%	-41.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.60%	52.18%	-36.58%

Dividends

NDIA vs. ILKAY - Dividend Comparison

NDIA's dividend yield for the trailing twelve months is around 1.17%, more than ILKAY's 0.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ILKAY Iluka Resources Ltd ADR	0.72%	1.03%	1.68%	3.58%	7.39%	1.33%	73.30%	2.45%	4.10%	0.55%	9.11%	2.95%
NDIA Global X Funds - Global X India Active ETF	1.17%	1.10%	3.66%	0.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NDIA and ILKAY in my portfolio?

NDIA and ILKAY have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NDIA or ILKAY?

ILKAY has higher volatility (32.15%) compared to NDIA (4.61%). In terms of maximum drawdown, NDIA dropped -22.05% vs ILKAY's -79.51%.

Which has better risk-adjusted returns?

ILKAY currently has the higher Sharpe Ratio (0.50 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.