SIXS vs. INDF

Last updated Jun 4, 2026

SIXS (6 Meridian Small Cap Equity ETF) and INDF (Nifty India Financials ETF) are both exchange-traded funds - SIXS is a Small Cap Blend Equities fund actively managed by Exchange Traded Concepts, while INDF is a Financials Equities fund tracking the Nifty Financial Services 25/50 Index. SIXS is actively managed, while INDF is passively managed. At a 0.37 correlation, their price movements are largely independent. SIXS charges 1.00%/yr vs 0.75%/yr for INDF.

Performance

SIXS vs. INDF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 6 Meridian Small Cap Equity ETF (SIXS) and Nifty India Financials ETF (INDF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SIXS

• 1D: -1.24%
• 1M: -2.88%
• YTD: 5.36%
• 6M: 6.16%
• 1Y: 16.34%
• 3Y*: 10.42%
• 5Y*: 3.28%
• 10Y*: —

INDF

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

SIXS vs. INDF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SIXS 6 Meridian Small Cap Equity ETF	5.36%	4.59%	5.85%	14.92%	-18.52%	40.74%	17.96%
INDF Nifty India Financials ETF	0.00%	8.17%	6.32%	19.86%	-5.28%	11.95%	23.97%

Correlation

The correlation between SIXS and INDF is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (All Time) Calculated using the full available price history since Oct 22, 2020	0.37

Over the past year, the correlation between SIXS and INDF has dropped to 0.16 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.

SIXS vs. INDF - Sectors Allocation Comparison

Sectors	SIXS	INDF
Financial Services	23.0%	100.0%
Healthcare	16.2%	-
Utilities	12.1%	-
Consumer Defensive	10.8%	-
Real Estate	9.0%	-
Industrials	7.3%	-
Consumer Cyclical	6.4%	-
Communication Services	5.9%	-
Technology	5.7%	-
Energy	2.7%	-
Basic Materials	1.0%	-

Return for Risk

SIXS vs. INDF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SIXS

SIXS Risk / Return Rank: 38
SIXS Sharpe Ratio Rank: 34
SIXS Sortino Ratio Rank: 36
SIXS Omega Ratio Rank: 32
SIXS Calmar Ratio Rank: 47
SIXS Martin Ratio Rank: 42

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.

SIXS vs. INDF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 6 Meridian Small Cap Equity ETF (SIXS) and Nifty India Financials ETF (INDF). 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.

	SIXS	INDF	Difference
Sharpe ratio: Return per unit of total volatility	1.24	—	—
Sortino ratio: Return per unit of downside risk	1.87	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	2.29	—	—
Martin ratio: Return relative to average drawdown	6.90	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SIXS	INDF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.24	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	—	—

Drawdowns

Drawdown Indicators

	SIXS	INDF	Difference
Max Drawdown Largest peak-to-trough decline	-27.68%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-7.16%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-19.95%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.68%	—	—
Current Drawdown Current decline from peak	-4.19%	—	—
Average Drawdown Average peak-to-trough decline	-8.95%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	—	—

Volatility

Volatility by Period

	SIXS	INDF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.91%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.30%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.63%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.66%	—	—

SIXS vs. INDF - Expense Ratio Comparison

SIXS has a 1.00% expense ratio, which is higher than INDF's 0.75% expense ratio.

Dividends

SIXS vs. INDF - Dividend Comparison

SIXS's dividend yield for the trailing twelve months is around 1.81%, less than INDF's 21.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
INDF Nifty India Financials ETF	21.29%	21.29%	6.15%	8.84%	3.12%	1.58%	0.00%
SIXS 6 Meridian Small Cap Equity ETF	1.81%	1.62%	1.09%	1.60%	1.37%	0.94%	0.45%

Frequently Asked Questions

Can I hold both SIXS and INDF in my portfolio?

SIXS and INDF have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SIXS or INDF?

On fees, INDF is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SIXS or INDF?

INDF is cheaper with a 0.75% expense ratio, compared with 1.00% for SIXS.

Which ETF pays a higher dividend yield, SIXS or INDF?

INDF has the higher dividend yield at 21.29%, compared with 1.81% for SIXS.

What is the main difference between SIXS and INDF?

SIXS is categorized as Small Cap Blend Equities, while INDF is Financials Equities. Their fees differ too: 1.00% for SIXS and 0.75% for INDF.