TFNS vs. INDF

Last updated Jun 4, 2026

TFNS (T. Rowe Price Financials ETF) and INDF (Nifty India Financials ETF) are both Financials Equities funds. TFNS is actively managed, while INDF is passively managed. At a 0.07 correlation, their price movements are largely independent. TFNS charges 0.44%/yr vs 0.75%/yr for INDF.

Performance

TFNS vs. INDF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Financials ETF (TFNS) and Nifty India Financials ETF (INDF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TFNS

• 1D: -1.39%
• 1M: -1.27%
• YTD: -5.36%
• 6M: -2.12%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

INDF

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

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

TFNS vs. INDF - Yearly Performance Comparison

	2026 (YTD)	2025
TFNS T. Rowe Price Financials ETF	-5.36%	10.41%
INDF Nifty India Financials ETF	0.00%	-3.49%

Correlation

The correlation between TFNS and INDF is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 13, 2025	0.07

TFNS vs. INDF - Sectors Allocation Comparison

Sectors	TFNS	INDF
Financial Services	97.1%	100.0%
Technology	1.9%	-
Industrials	0.9%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

TFNS vs. INDF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Financials ETF (TFNS) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TFNS	INDF	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	—	—

Drawdowns

Drawdown Indicators

	TFNS	INDF	Difference
Max Drawdown Largest peak-to-trough decline	-14.00%	—	—
Current Drawdown Current decline from peak	-8.00%	—	—
Average Drawdown Average peak-to-trough decline	-3.82%	—	—

Volatility

Volatility by Period

	TFNS	INDF	Difference
Volatility (1Y) Calculated over the trailing 1-year period	15.04%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.04%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.04%	—	—

TFNS vs. INDF - Expense Ratio Comparison

TFNS has a 0.44% expense ratio, which is lower than INDF's 0.75% expense ratio.

Dividends

TFNS vs. INDF - Dividend Comparison

TFNS's dividend yield for the trailing twelve months is around 0.52%, less than INDF's 21.29% yield.

Position	TTM	2025	2024	2023	2022	2021
INDF Nifty India Financials ETF	21.29%	21.29%	6.15%	8.84%	3.12%	1.58%
TFNS T. Rowe Price Financials ETF	0.52%	0.49%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TFNS and INDF in my portfolio?

TFNS and INDF have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TFNS or INDF?

On fees, TFNS is cheaper at 0.44% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TFNS or INDF?

TFNS is cheaper with a 0.44% expense ratio, compared with 0.75% for INDF.

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

INDF has the higher dividend yield at 21.29%, compared with 0.52% for TFNS.

What is the main difference between TFNS and INDF?

They also come from different issuers: T. Rowe Price and Exchange Traded Concepts. Their fees differ too: 0.44% for TFNS and 0.75% for INDF.