WIP vs. INDA
WIP (SPDR FTSE International Government Inflation-Protected Bond ETF) and INDA (iShares MSCI India ETF) are both exchange-traded funds - WIP is a Inflation-Protected Bonds fund tracking the FTSE International Inflation-Linked Securities Select (USD), while INDA is a Asia Pacific Equities fund tracking the MSCI India Index. Both are passively managed. Over the past 10 years, WIP returned 1.67%/yr vs 7.09%/yr for INDA. At a 0.28 correlation, their price movements are largely independent. WIP charges 0.50%/yr vs 0.69%/yr for INDA.
Performance
WIP vs. INDA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, WIP achieves a 4.23% return, which is significantly higher than INDA's -10.58% return. Over the past 10 years, WIP has underperformed INDA with an annualized return of 1.67%, while INDA has yielded a comparatively higher 7.09% annualized return.
WIP
- 1D
- 0.48%
- 1M
- 1.76%
- YTD
- 4.23%
- 6M
- 4.92%
- 1Y
- 8.26%
- 3Y*
- 4.95%
- 5Y*
- -0.77%
- 10Y*
- 1.67%
INDA
- 1D
- 1.13%
- 1M
- 0.71%
- YTD
- -10.58%
- 6M
- -9.05%
- 1Y
- -10.57%
- 3Y*
- 4.51%
- 5Y*
- 2.79%
- 10Y*
- 7.09%
WIP vs. INDA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WIP SPDR FTSE International Government Inflation-Protected Bond ETF | 4.23% | 15.18% | -8.71% | 8.84% | -15.54% | -4.15% | 8.37% | 8.62% | -5.97% | 12.73% |
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 WIP and INDA is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.33 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.31 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2012 | 0.28 |
The correlation between WIP and INDA shifts across timeframes, from 0.28 (all time) to 0.46 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
WIP vs. INDA — Risk / Return Rank
WIP
INDA
WIP vs. INDA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR FTSE International Government Inflation-Protected Bond ETF (WIP) 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.
| WIP | INDA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.71 | ||
| Sortino ratioReturn per unit of downside risk | +2.38 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.88 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.54 | -0.63 | +2.17 |
| Martin ratioReturn relative to average drawdown | 4.55 | -1.46 | +6.01 |
Loading charts...
Drawdowns
WIP vs. INDA - Drawdown Comparison
The maximum WIP drawdown since its inception was -29.60%, smaller than the maximum INDA drawdown of -45.07%. Use the drawdown chart below to compare losses from any high point for WIP and INDA.
Loading charts...
Drawdown Indicators
| WIP | INDA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.60% | -45.07% | +15.47% |
Max Drawdown (1Y)Largest decline over 1 year | -5.16% | -18.69% | +13.53% |
Max Drawdown (3Y)Largest decline over 3 years | -11.16% | -22.72% | +11.56% |
Max Drawdown (5Y)Largest decline over 5 years | -28.66% | -22.72% | -5.94% |
Max Drawdown (10Y)Largest decline over 10 years | -28.84% | -45.07% | +16.23% |
Current DrawdownCurrent decline from peak | -3.94% | -17.77% | +13.83% |
Average DrawdownAverage peak-to-trough decline | -8.58% | -9.59% | +1.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.74% | 8.09% | -6.35% |
Volatility
WIP vs. INDA - Volatility Comparison
The current volatility for SPDR FTSE International Government Inflation-Protected Bond ETF (WIP) is 3.18%, while iShares MSCI India ETF (INDA) has a volatility of 4.16%. This indicates that WIP experiences smaller price fluctuations and is considered to be less risky than INDA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| WIP | INDA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.18% | 4.16% | -0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 6.98% | 12.77% | -5.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.83% | 14.79% | -5.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.46% | 15.40% | -3.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.16% | 21.11% | -10.95% |
WIP vs. INDA - Expense Ratio Comparison
WIP has a 0.50% expense ratio, which is lower than INDA's 0.69% expense ratio.
Dividends
WIP vs. INDA - Dividend Comparison
WIP's dividend yield for the trailing twelve months is around 5.79%, 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% |
WIP SPDR FTSE International Government Inflation-Protected Bond ETF | 5.79% | 5.51% | 6.06% | 6.54% | 11.15% | 4.63% | 1.59% | 2.49% | 4.05% | 1.91% | 1.27% | 1.14% |
Frequently Asked Questions
WIP and INDA have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
INDA has higher volatility (4.16%) compared to WIP (3.18%). In terms of maximum drawdown, WIP dropped -29.60% vs INDA's -45.07%.
On 10-year performance, INDA leads with 7.09% vs 1.67% for WIP. On fees, WIP is cheaper at 0.50% per year. On volatility, WIP has been the lower-risk option at 3.18%. 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 1.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
WIP is cheaper with a 0.50% expense ratio, compared with 0.69% for INDA.
WIP has the higher dividend yield at 5.79%, compared with 0.00% for INDA.
WIP is categorized as Inflation-Protected Bonds, while INDA is Asia Pacific Equities. WIP tracks FTSE International Inflation-Linked Securities Select (USD), while INDA tracks MSCI India Index. They also come from different issuers: State Street and iShares. Their fees differ too: 0.50% for WIP and 0.69% for INDA.
WIP currently has the higher Sharpe Ratio (0.90 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.
Find the right allocation for WIP and INDA
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer