RY vs. INDA
RY (Royal Bank of Canada) is a stock, while INDA (iShares MSCI India ETF) is India Equities fund tracking the MSCI India Index. Over the past 10 years, RY returned 17.57%/yr vs 6.45%/yr for INDA. At a 0.42 correlation, their price movements are largely independent.
Performance
RY vs. INDA - Performance Comparison
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Returns By Period
In the year-to-date period, RY achieves a 25.12% return, which is significantly higher than INDA's -10.18% return. Over the past 10 years, RY has outperformed INDA with an annualized return of 17.57%, while INDA has yielded a comparatively lower 6.45% annualized return.
RY
- 1D
- -2.35%
- 1M
- 4.37%
- 6M
- 26.09%
- YTD
- 25.12%
- 1Y
- 63.20%
- 3Y*
- 33.44%
- 5Y*
- 20.34%
- 10Y*
- 17.57%
- ALL TIME*
- 15.92%
INDA
- 1D
- -0.74%
- 1M
- -2.08%
- 6M
- -8.14%
- YTD
- -10.18%
- 1Y
- -10.92%
- 3Y*
- 3.30%
- 5Y*
- 3.36%
- 10Y*
- 6.45%
- ALL TIME*
- 5.26%
RY vs. INDA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RY Royal Bank of Canada | 25.12% | 46.29% | 23.80% | 12.72% | -8.00% | 34.11% | 8.42% | 20.17% | -12.88% | 24.95% |
INDA iShares MSCI India ETF | -10.18% | 2.68% | 8.63% | 17.16% | -8.94% | 21.36% | 14.83% | 6.49% | -6.67% | 36.08% |
Correlation
The correlation between RY and INDA is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2012 | 0.42 |
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Return for Risk
RY vs. INDA — Risk / Return Rank
RY
INDA
RY vs. INDA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Royal Bank of Canada (RY) and iShares MSCI India ETF (INDA). 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.
| RY | INDA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +4.83 | ||
| Sortino ratioReturn per unit of downside risk | +6.68 | ||
| Omega ratioGain probability vs. loss probability | 1.71 | 0.89 | +0.82 |
| Calmar ratioReturn relative to maximum drawdown | 6.33 | -0.61 | +6.94 |
| Martin ratioReturn relative to average drawdown | 23.53 | -1.37 | +24.89 |
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Drawdowns
RY vs. INDA - Drawdown Comparison
The maximum RY drawdown since its inception was -62.90%, which is greater than INDA's maximum drawdown of -45.07%. Use the drawdown chart below to compare losses from any high point for RY and INDA.
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Drawdown Indicators
| RY | INDA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.90% | -45.07% | -17.83% |
Max Drawdown (1Y)Largest decline over 1 year | -10.04% | -17.85% | +7.81% |
Max Drawdown (3Y)Largest decline over 3 years | -19.88% | -22.72% | +2.84% |
Max Drawdown (5Y)Largest decline over 5 years | -28.36% | -22.72% | -5.64% |
Max Drawdown (10Y)Largest decline over 10 years | -39.95% | -45.07% | +5.12% |
Current DrawdownCurrent decline from peak | -3.44% | -17.40% | +13.96% |
Average DrawdownAverage peak-to-trough decline | -9.29% | -9.63% | +0.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.69% | 7.99% | -5.30% |
Volatility
RY vs. INDA - Volatility Comparison
Royal Bank of Canada (RY) has a higher volatility of 5.26% compared to iShares MSCI India ETF (INDA) at 3.80%. This indicates that RY's price experiences larger fluctuations and is considered to be riskier than INDA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RY | INDA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.26% | 3.80% | +1.46% |
Volatility (6M)Calculated over the trailing 6-month period | 12.02% | 13.08% | -1.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.54% | 15.00% | +0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.05% | 15.46% | +2.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.69% | 21.06% | -1.37% |
Dividends
RY vs. INDA - Dividend Comparison
RY's dividend yield for the trailing twelve months is around 2.20%, while INDA has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
INDA iShares MSCI India ETF | 0.00% | 0.00% | 0.76% | 0.16% | 0.00% | 6.44% | 0.27% | 0.99% | 0.94% | 1.09% | 0.90% | 1.19% |
RY Royal Bank of Canada | 2.20% | 2.54% | 3.39% | 4.29% | 4.07% | 3.24% | 3.88% | 3.88% | 4.27% | 3.22% | 3.95% | 5.41% |
Frequently Asked Questions
RY and INDA have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RY has higher volatility (5.26%) compared to INDA (3.80%). In terms of maximum drawdown, RY dropped -62.90% vs INDA's -45.07%.
RY currently has the higher Sharpe Ratio (4.10 vs -0.73), 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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