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NDIA vs. SWDA.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

NDIA vs. SWDA.L

Last updated Jun 13, 2026

NDIA (Global X Funds - Global X India Active ETF) and SWDA.L (iShares Core MSCI World UCITS ETF USD (Acc)) are both exchange-traded funds - NDIA is a Asia Pacific Equities fund actively managed by Global X, while SWDA.L is a Global Equities fund tracking the MSCI World Index. NDIA is actively managed, while SWDA.L is passively managed. Over the past year, NDIA returned -11.48% vs 22.97% for SWDA.L. At a 0.34 correlation, their price movements are largely independent. NDIA charges 0.76%/yr vs 0.20%/yr for SWDA.L.

Performance

NDIA vs. SWDA.L - 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 iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

NDIA is traded in USD, while SWDA.L is traded in GBp. To make them comparable, the SWDA.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, NDIA achieves a -11.53% return, which is significantly lower than SWDA.L's 8.34% return.

NDIA

1D
1.25%
1M
0.37%
YTD
-11.53%
6M
-9.70%
1Y
-11.48%
3Y*
—
5Y*
—
10Y*
—

SWDA.L

1D
1.39%
1M
0.66%
YTD
8.34%
6M
9.57%
1Y
22.97%
3Y*
19.46%
5Y*
11.45%
10Y*
13.33%
*Multi-year figures are annualized to reflect compound growth (CAGR)

NDIA vs. SWDA.L - Yearly Performance Comparison

2026 (YTD)202520242023
NDIA
Global X Funds - Global X India Active ETF		-11.53%5.04%5.75%12.76%
SWDA.L
iShares Core MSCI World UCITS ETF USD (Acc)		8.34%21.14%19.09%9.46%

Correlation

The correlation between NDIA and SWDA.L is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.44

Correlation (All Time)
Calculated using the full available price history since Aug 18, 2023

0.34

The correlation between NDIA and SWDA.L shifts across timeframes, from 0.34 (all time) to 0.44 (1 year), reflecting how their relationship changes across market environments.

NDIA vs. SWDA.L - Sectors Allocation Comparison

Sectors
NDIA
SWDA.L

Financial Services

32.7%
15.1%

Consumer Cyclical

11.0%
9.3%

Industrials

10.3%
10.9%

Energy

9.9%
3.9%

Technology

7.1%
30.8%

Basic Materials

7.0%
3.2%

Consumer Defensive

6.3%
5.0%

Communication Services

5.6%
9.1%

Utilities

3.6%
2.4%

Healthcare

3.4%
8.6%

Real Estate

3.0%
1.7%

Financial Services

NDIA
32.7%
SWDA.L
15.1%

Consumer Cyclical

NDIA
11.0%
SWDA.L
9.3%

Industrials

NDIA
10.3%
SWDA.L
10.9%

Energy

NDIA
9.9%
SWDA.L
3.9%

Technology

NDIA
7.1%
SWDA.L
30.8%

Basic Materials

NDIA
7.0%
SWDA.L
3.2%

Consumer Defensive

NDIA
6.3%
SWDA.L
5.0%

Communication Services

NDIA
5.6%
SWDA.L
9.1%

Utilities

NDIA
3.6%
SWDA.L
2.4%

Healthcare

NDIA
3.4%
SWDA.L
8.6%

Real Estate

NDIA
3.0%
SWDA.L
1.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X Funds - Global X India Active ETF

iShares Core MSCI World UCITS ETF USD (Acc)

Often compared with NDIA:
NDIA vs. INDANDIA vs. INDYNDIA vs. DGINNDIA vs. INCONDIA vs. EPINDIA vs. SPYNDIA vs. IITU.L
Often compared with SWDA.L:
SWDA.L vs. IWDA.LSWDA.L vs. VWRP.LSWDA.L vs. VWCE.DESWDA.L vs. SPYSWDA.L vs. IUSQ.DESWDA.L vs. EUN.LSWDA.L vs. VOO

Return for Risk

NDIA vs. SWDA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
NDIA
NDIA Risk / Return Rank: 33
Overall Rank
NDIA Sharpe Ratio Rank: 44
Sharpe Ratio Rank
NDIA Sortino Ratio Rank: 44
Sortino Ratio Rank
NDIA Omega Ratio Rank: 44
Omega Ratio Rank
NDIA Calmar Ratio Rank: 44
Calmar Ratio Rank
NDIA Martin Ratio Rank: 11
Martin Ratio Rank
SWDA.L
SWDA.L Risk / Return Rank: 8484
Overall Rank
SWDA.L Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
SWDA.L Sortino Ratio Rank: 8585
Sortino Ratio Rank
SWDA.L Omega Ratio Rank: 8585
Omega Ratio Rank
SWDA.L Calmar Ratio Rank: 8282
Calmar Ratio Rank
SWDA.L Martin Ratio Rank: 8484
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

NDIA vs. SWDA.L - 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 iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L). 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.

NDIASWDA.LDifference
Sharpe ratioReturn per unit of total volatility
-0.73
1.96

-2.69

Sortino ratioReturn per unit of downside risk
-0.98
2.91

-3.89

Omega ratioGain probability vs. loss probability

0.89

1.35

-0.46

Calmar ratioReturn relative to maximum drawdown

-0.64

2.66

-3.30

Martin ratioReturn relative to average drawdown

-1.52

11.48

-13.00

NDIA vs. SWDA.L - Sharpe Ratio Comparison

The current NDIA Sharpe Ratio is -0.73, which is lower than the SWDA.L Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of NDIA and SWDA.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

NDIA vs. SWDA.L - Drawdown Comparison

The maximum NDIA drawdown since its inception was -22.05%, smaller than the maximum SWDA.L drawdown of -45.69%. Use the drawdown chart below to compare losses from any high point for NDIA and SWDA.L.

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Drawdown Indicators

NDIASWDA.LDifference

Max Drawdown

Largest peak-to-trough decline

-22.05%

-45.69%

+23.64%

Max Drawdown (1Y)

Largest decline over 1 year

-18.03%

-8.59%

-9.44%

Max Drawdown (3Y)

Largest decline over 3 years

—

-17.07%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-26.50%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.61%

—

Current Drawdown

Current decline from peak

-17.96%

-1.75%

-16.21%

Average Drawdown

Average peak-to-trough decline

-7.16%

-11.21%

+4.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.58%

2.00%

+5.58%

Volatility

NDIA vs. SWDA.L - Volatility Comparison

Global X Funds - Global X India Active ETF (NDIA) has a higher volatility of 4.44% compared to iShares Core MSCI World UCITS ETF USD (Acc) (SWDA.L) at 3.28%. This indicates that NDIA's price experiences larger fluctuations and is considered to be riskier than SWDA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

NDIASWDA.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.44%

3.28%

+1.16%

Volatility (6M)

Calculated over the trailing 6-month period

13.65%

8.94%

+4.71%

Volatility (1Y)

Calculated over the trailing 1-year period

15.87%

11.67%

+4.20%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.61%

15.35%

+0.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.61%

15.83%

-0.22%

NDIA vs. SWDA.L - Expense Ratio Comparison

NDIA has a 0.76% expense ratio, which is higher than SWDA.L's 0.20% expense ratio.

Dividends

NDIA vs. SWDA.L - Dividend Comparison

NDIA's dividend yield for the trailing twelve months is around 1.24%, while SWDA.L has not paid dividends to shareholders.

PositionTTM202520242023
NDIA
Global X Funds - Global X India Active ETF		1.24%1.10%3.66%0.28%
SWDA.L
iShares Core MSCI World UCITS ETF USD (Acc)		0.00%0.00%0.00%0.00%

Frequently Asked Questions

NDIA and SWDA.L have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, SWDA.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

SWDA.L is cheaper with a 0.20% expense ratio, compared with 0.76% for NDIA.

NDIA is categorized as Asia Pacific Equities, while SWDA.L is Global Equities. They also come from different issuers: Global X and iShares. Their fees differ too: 0.76% for NDIA and 0.20% for SWDA.L.

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