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XBAL.TO vs. INDA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XBAL.TO vs. INDA

Last updated Jun 9, 2026

XBAL.TO (iShares Core Balanced ETF Portfolio) and INDA (iShares MSCI India ETF) are both exchange-traded funds - XBAL.TO is a Diversified Portfolio fund actively managed by iShares, while INDA is a Asia Pacific Equities fund tracking the MSCI India Index. XBAL.TO is actively managed, while INDA is passively managed. Over the past 10 years, XBAL.TO returned 7.64%/yr vs 7.70%/yr for INDA. At a 0.37 correlation, their price movements are largely independent. XBAL.TO charges 0.20%/yr vs 0.69%/yr for INDA.

Performance

XBAL.TO vs. INDA - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Core Balanced ETF Portfolio (XBAL.TO) and iShares MSCI India ETF (INDA). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

XBAL.TO is traded in CAD, while INDA is traded in USD. To make them comparable, the INDA values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XBAL.TO achieves a 7.00% return, which is significantly higher than INDA's -11.06% return. Both investments have delivered pretty close results over the past 10 years, with XBAL.TO having a 7.64% annualized return and INDA not far ahead at 7.70%.

XBAL.TO

1D
-1.00%
1M
1.25%
YTD
7.00%
6M
5.87%
1Y
16.40%
3Y*
14.11%
5Y*
7.96%
10Y*
7.64%

INDA

1D
0.00%
1M
-3.31%
YTD
-11.06%
6M
-10.35%
1Y
-12.28%
3Y*
5.63%
5Y*
5.29%
10Y*
7.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XBAL.TO vs. INDA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XBAL.TO
iShares Core Balanced ETF Portfolio		7.00%11.90%15.80%13.05%-11.16%10.16%10.73%15.34%-2.73%5.55%
INDA
iShares MSCI India ETF		-11.06%-2.01%17.83%14.37%-3.17%21.30%12.10%2.10%1.18%26.86%

Correlation

The correlation between XBAL.TO and INDA is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.38

Correlation (3Y)
Calculated over the trailing 3-year period

0.38

Correlation (5Y)
Calculated over the trailing 5-year period

0.43

Correlation (10Y)
Calculated over the trailing 10-year period

0.37

Correlation (All Time)
Calculated using the full available price history since Feb 6, 2012

0.37

XBAL.TO vs. INDA - Sectors Allocation Comparison

Sectors
XBAL.TO
INDA

Technology

21.6%
8.3%

Financial Services

20.5%
28.4%

Industrials

12.4%
10.3%

Consumer Cyclical

8.0%
12.5%

Energy

7.5%
9.5%

Basic Materials

7.4%
8.0%

Healthcare

6.6%
6.2%

Communication Services

6.4%
4.7%

Consumer Defensive

4.6%
6.2%

Utilities

2.9%
4.6%

Real Estate

2.3%
1.4%

Technology

XBAL.TO
21.6%
INDA
8.3%

Financial Services

XBAL.TO
20.5%
INDA
28.4%

Industrials

XBAL.TO
12.4%
INDA
10.3%

Consumer Cyclical

XBAL.TO
8.0%
INDA
12.5%

Energy

XBAL.TO
7.5%
INDA
9.5%

Basic Materials

XBAL.TO
7.4%
INDA
8.0%

Healthcare

XBAL.TO
6.6%
INDA
6.2%

Communication Services

XBAL.TO
6.4%
INDA
4.7%

Consumer Defensive

XBAL.TO
4.6%
INDA
6.2%

Utilities

XBAL.TO
2.9%
INDA
4.6%

Real Estate

XBAL.TO
2.3%
INDA
1.4%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Core Balanced ETF Portfolio

iShares MSCI India ETF

Often compared with XBAL.TO:
XBAL.TO vs. XEQT.TOXBAL.TO vs. VBAL.TOXBAL.TO vs. XCNS.TOXBAL.TO vs. XEI.TOXBAL.TO vs. ZBAL.TOXBAL.TO vs. ZLB.TOXBAL.TO vs. GBAL.TO
Often compared with INDA:
INDA vs. FLININDA vs. INDYINDA vs. EPIINDA vs. SMININDA vs. VOOINDA vs. MCHIINDA vs. VNM

Return for Risk

XBAL.TO vs. INDA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XBAL.TO
XBAL.TO Risk / Return Rank: 6464
Overall Rank
XBAL.TO Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
XBAL.TO Sortino Ratio Rank: 6464
Sortino Ratio Rank
XBAL.TO Omega Ratio Rank: 6666
Omega Ratio Rank
XBAL.TO Calmar Ratio Rank: 6060
Calmar Ratio Rank
XBAL.TO Martin Ratio Rank: 6868
Martin Ratio Rank
INDA
INDA Risk / Return Rank: 22
Overall Rank
INDA Sharpe Ratio Rank: 22
Sharpe Ratio Rank
INDA Sortino Ratio Rank: 22
Sortino Ratio Rank
INDA Omega Ratio Rank: 22
Omega Ratio Rank
INDA Calmar Ratio Rank: 33
Calmar Ratio Rank
INDA Martin Ratio Rank: 00
Martin Ratio Rank
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.

XBAL.TO vs. INDA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Balanced ETF Portfolio (XBAL.TO) 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.

XBAL.TOINDADifference
Sharpe ratioReturn per unit of total volatility
1.92
-0.80

+2.72

Sortino ratioReturn per unit of downside risk
2.67
-1.10

+3.77

Omega ratioGain probability vs. loss probability

1.36

0.88

+0.48

Calmar ratioReturn relative to maximum drawdown

2.72

-0.66

+3.38

Martin ratioReturn relative to average drawdown

11.39

-1.49

+12.88

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XBAL.TO vs. INDA - Sharpe Ratio Comparison

The current XBAL.TO Sharpe Ratio is 1.92, which is higher than the INDA Sharpe Ratio of -0.80. The chart below compares the historical Sharpe Ratios of XBAL.TO and INDA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

XBAL.TOINDADifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.92

-0.80

+2.72

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.91

0.31

+0.60

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.79

0.34

+0.44

Sharpe Ratio (All Time)

Calculated using the full available price history

0.65

0.33

+0.33

Drawdowns

XBAL.TO vs. INDA - Drawdown Comparison

The maximum XBAL.TO drawdown since its inception was -28.55%, smaller than the maximum INDA drawdown of -39.13%. Use the drawdown chart below to compare losses from any high point for XBAL.TO and INDA.

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Drawdown Indicators

XBAL.TOINDADifference

Max Drawdown

Largest peak-to-trough decline

-28.55%

-39.13%

+10.58%

Max Drawdown (1Y)

Largest decline over 1 year

-6.06%

-18.56%

+12.50%

Max Drawdown (3Y)

Largest decline over 3 years

-9.34%

-20.76%

+11.42%

Max Drawdown (5Y)

Largest decline over 5 years

-17.10%

-20.76%

+3.66%

Max Drawdown (10Y)

Largest decline over 10 years

-20.93%

-39.13%

+18.20%

Current Drawdown

Current decline from peak

-1.20%

-17.37%

+16.17%

Average Drawdown

Average peak-to-trough decline

-3.36%

-7.41%

+4.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.44%

8.23%

-6.79%

Volatility

XBAL.TO vs. INDA - Volatility Comparison

The current volatility for iShares Core Balanced ETF Portfolio (XBAL.TO) is 3.07%, while iShares MSCI India ETF (INDA) has a volatility of 5.37%. This indicates that XBAL.TO 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.

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Volatility by Period

XBAL.TOINDADifference

Volatility (1M)

Calculated over the trailing 1-month period

3.07%

5.37%

-2.30%

Volatility (6M)

Calculated over the trailing 6-month period

7.30%

13.33%

-6.03%

Volatility (1Y)

Calculated over the trailing 1-year period

8.59%

15.46%

-6.87%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.81%

16.97%

-8.16%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

9.77%

22.43%

-12.66%

XBAL.TO vs. INDA - Expense Ratio Comparison

XBAL.TO has a 0.20% expense ratio, which is lower than INDA's 0.69% expense ratio.

Dividends

XBAL.TO vs. INDA - Dividend Comparison

XBAL.TO's dividend yield for the trailing twelve months is around 2.13%, while INDA has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%
XBAL.TO
iShares Core Balanced ETF Portfolio		2.13%2.27%2.72%2.43%2.12%1.78%2.04%2.31%3.47%3.00%3.72%3.38%

Frequently Asked Questions

XBAL.TO and INDA have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, XBAL.TO is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XBAL.TO is cheaper with a 0.20% expense ratio, compared with 0.69% for INDA.

XBAL.TO is categorized as Diversified Portfolio, while INDA is Asia Pacific Equities. Their fees differ too: 0.20% for XBAL.TO and 0.69% for INDA.

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