VNQI vs. INDA
VNQI (Vanguard Global ex-U.S. Real Estate ETF) and INDA (iShares MSCI India ETF) are both exchange-traded funds - VNQI is a REIT fund tracking the S&P Global ex-U.S. Property Index, while INDA is a Asia Pacific Equities fund tracking the MSCI India Index. Both are passively managed. Over the past 10 years, VNQI returned 2.74%/yr vs 7.09%/yr for INDA. A 0.57 correlation means they provide meaningful diversification when combined. VNQI charges 0.12%/yr vs 0.69%/yr for INDA.
Performance
VNQI vs. INDA - Performance Comparison
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Returns By Period
In the year-to-date period, VNQI achieves a -0.33% return, which is significantly higher than INDA's -10.58% return. Over the past 10 years, VNQI has underperformed INDA with an annualized return of 2.74%, while INDA has yielded a comparatively higher 7.09% annualized return.
VNQI
- 1D
- 0.68%
- 1M
- -2.33%
- YTD
- -0.33%
- 6M
- 0.85%
- 1Y
- 7.10%
- 3Y*
- 8.59%
- 5Y*
- -1.50%
- 10Y*
- 2.74%
INDA
- 1D
- 1.13%
- 1M
- -0.06%
- YTD
- -10.58%
- 6M
- -9.05%
- 1Y
- -10.57%
- 3Y*
- 4.51%
- 5Y*
- 2.79%
- 10Y*
- 7.09%
VNQI vs. INDA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VNQI Vanguard Global ex-U.S. Real Estate ETF | -0.33% | 21.38% | -2.22% | 6.99% | -22.94% | 5.93% | -7.22% | 21.59% | -9.44% | 26.91% |
INDA iShares MSCI India ETF | -10.58% | 2.68% | 8.63% | 17.16% | -8.94% | 21.36% | 14.83% | 6.49% | -6.67% | 36.08% |
Correlation
The correlation between VNQI and INDA is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2012 | 0.57 |
The correlation between VNQI and INDA has been stable across timeframes, ranging from 0.48 to 0.57 - a consistent structural relationship.
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Return for Risk
VNQI vs. INDA — Risk / Return Rank
VNQI
INDA
VNQI vs. INDA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Global ex-U.S. Real Estate ETF (VNQI) 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.
| VNQI | INDA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.23 | ||
| Sortino ratioReturn per unit of downside risk | +1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.88 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.40 | -0.63 | +1.03 |
| Martin ratioReturn relative to average drawdown | 1.13 | -1.46 | +2.60 |
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Drawdowns
VNQI vs. INDA - Drawdown Comparison
The maximum VNQI drawdown since its inception was -38.35%, smaller than the maximum INDA drawdown of -45.07%. Use the drawdown chart below to compare losses from any high point for VNQI and INDA.
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Drawdown Indicators
| VNQI | INDA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.35% | -45.07% | +6.72% |
Max Drawdown (1Y)Largest decline over 1 year | -14.78% | -18.69% | +3.91% |
Max Drawdown (3Y)Largest decline over 3 years | -16.35% | -22.72% | +6.37% |
Max Drawdown (5Y)Largest decline over 5 years | -35.00% | -22.72% | -12.28% |
Max Drawdown (10Y)Largest decline over 10 years | -38.35% | -45.07% | +6.72% |
Current DrawdownCurrent decline from peak | -9.99% | -17.77% | +7.78% |
Average DrawdownAverage peak-to-trough decline | -10.89% | -9.59% | -1.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.19% | 8.09% | -2.90% |
Volatility
VNQI vs. INDA - Volatility Comparison
Vanguard Global ex-U.S. Real Estate ETF (VNQI) has a higher volatility of 4.62% compared to iShares MSCI India ETF (INDA) at 4.16%. This indicates that VNQI'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
| VNQI | INDA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.62% | 4.16% | +0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 11.75% | 12.77% | -1.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.73% | 14.79% | -1.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.54% | 15.40% | +0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.07% | 21.11% | -5.04% |
VNQI vs. INDA - Expense Ratio Comparison
VNQI has a 0.12% expense ratio, which is lower than INDA's 0.69% expense ratio.
Dividends
VNQI vs. INDA - Dividend Comparison
VNQI's dividend yield for the trailing twelve months is around 4.72%, 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% |
VNQI Vanguard Global ex-U.S. Real Estate ETF | 4.72% | 4.70% | 5.16% | 3.74% | 0.57% | 6.48% | 0.93% | 7.58% | 4.62% | 3.86% | 5.18% | 2.86% |
Frequently Asked Questions
VNQI and INDA have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VNQI has higher volatility (4.62%) compared to INDA (4.16%). In terms of maximum drawdown, VNQI dropped -38.35% vs INDA's -45.07%.
On 10-year performance, INDA leads with 7.09% vs 2.74% for VNQI. On fees, VNQI is cheaper at 0.12% per year. On volatility, INDA has been the lower-risk option at 4.16%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, INDA has performed better with a 7.09% return vs 2.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VNQI is cheaper with a 0.12% expense ratio, compared with 0.69% for INDA.
VNQI has the higher dividend yield at 4.72%, compared with 0.00% for INDA.
VNQI is categorized as REIT, while INDA is Asia Pacific Equities. VNQI tracks S&P Global ex-U.S. Property Index, while INDA tracks MSCI India Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.12% for VNQI and 0.69% for INDA.
VNQI currently has the higher Sharpe Ratio (0.43 vs -0.80), 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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