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XID.TO vs. INDY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XID.TO vs. INDY

Last updated Jun 4, 2026

XID.TO (iShares India Index ETF) and INDY (iShares India 50 ETF) are both Asia Pacific Equities funds from iShares - XID.TO tracks the Morningstar Gbl GR CAD while INDY tracks the S&P CNX Nifty Index. Both are passively managed. Over the past 10 years, XID.TO returned 6.69%/yr vs 6.91%/yr for INDY. Their correlation of 0.89 suggests significant overlap in exposure. XID.TO charges 1.08%/yr vs 0.94%/yr for INDY.

Performance

XID.TO vs. INDY - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares India Index ETF (XID.TO) and iShares India 50 ETF (INDY). The values are adjusted to include any dividend payments, if applicable.

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Different Trading Currencies

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

Returns By Period

The year-to-date returns for both stocks are quite close, with XID.TO having a -14.17% return and INDY slightly lower at -14.30%. Both investments have delivered pretty close results over the past 10 years, with XID.TO having a 6.69% annualized return and INDY not far ahead at 6.91%.

XID.TO

1D
-0.95%
1M
-1.28%
YTD
-14.17%
6M
-14.49%
1Y
-13.67%
3Y*
2.43%
5Y*
3.77%
10Y*
6.69%

INDY

1D
-0.94%
1M
-1.30%
YTD
-14.30%
6M
-14.36%
1Y
-13.59%
3Y*
2.57%
5Y*
4.04%
10Y*
6.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

XID.TO vs. INDY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XID.TO
iShares India Index ETF		-14.17%-0.28%12.36%14.07%-0.64%17.51%7.86%4.33%3.73%26.87%
INDY
iShares India 50 ETF		-14.30%0.16%12.36%14.30%-0.71%18.35%8.15%4.58%3.80%27.48%

Correlation

The correlation between XID.TO and INDY is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.94

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

0.91

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

0.87

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

0.88

Correlation (All Time)
Calculated using the full available price history since Jan 28, 2010

0.89

The correlation between XID.TO and INDY has been stable across timeframes, ranging from 0.87 to 0.94 - a consistent structural relationship.

XID.TO vs. INDY - Sectors Allocation Comparison

Sectors
XID.TO
INDY

Financial Services

35.4%
35.3%

Energy

11.3%
11.4%

Consumer Cyclical

10.8%
10.7%

Technology

8.5%
8.6%

Industrials

7.7%
7.7%

Basic Materials

7.3%
7.3%

Consumer Defensive

6.2%
6.2%

Communication Services

5.2%
5.3%

Healthcare

4.5%
4.5%

Utilities

3.0%
3.0%

Real Estate

-

-

Financial Services

XID.TO
35.4%
INDY
35.3%

Energy

XID.TO
11.3%
INDY
11.4%

Consumer Cyclical

XID.TO
10.8%
INDY
10.7%

Technology

XID.TO
8.5%
INDY
8.6%

Industrials

XID.TO
7.7%
INDY
7.7%

Basic Materials

XID.TO
7.3%
INDY
7.3%

Consumer Defensive

XID.TO
6.2%
INDY
6.2%

Communication Services

XID.TO
5.2%
INDY
5.3%

Healthcare

XID.TO
4.5%
INDY
4.5%

Utilities

XID.TO
3.0%
INDY
3.0%

Real Estate

XID.TO

-

INDY

-

Compare stocks, funds, or ETFs

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iShares India Index ETF

iShares India 50 ETF

Often compared with XID.TO:
XID.TO vs. ZID.TOXID.TO vs. NFTYXID.TO vs. FLINXID.TO vs. GLINXID.TO vs. VOOXID.TO vs. VGRO.TOXID.TO vs. ZCN.TO
Often compared with INDY:
INDY vs. INDAINDY vs. NFTYINDY vs. EPIINDY vs. FLININDY vs. VOOINDY vs. XNIF.LINDY vs. GLIN

Return for Risk

XID.TO vs. INDY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XID.TO
XID.TO Risk / Return Rank: 22
Overall Rank
XID.TO Sharpe Ratio Rank: 22
Sharpe Ratio Rank
XID.TO Sortino Ratio Rank: 22
Sortino Ratio Rank
XID.TO Omega Ratio Rank: 22
Omega Ratio Rank
XID.TO Calmar Ratio Rank: 33
Calmar Ratio Rank
XID.TO Martin Ratio Rank: 11
Martin Ratio Rank
INDY
INDY Risk / Return Rank: 11
Overall Rank
INDY Sharpe Ratio Rank: 11
Sharpe Ratio Rank
INDY Sortino Ratio Rank: 11
Sortino Ratio Rank
INDY Omega Ratio Rank: 22
Omega Ratio Rank
INDY Calmar Ratio Rank: 22
Calmar Ratio Rank
INDY 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.

XID.TO vs. INDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares India Index ETF (XID.TO) and iShares India 50 ETF (INDY). 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.

XID.TOINDYDifference
Sharpe ratioReturn per unit of total volatility
-0.93
-0.96

+0.04

Sortino ratioReturn per unit of downside risk
-1.34
-1.37

+0.03

Omega ratioGain probability vs. loss probability

0.85

0.85

0.00

Calmar ratioReturn relative to maximum drawdown

-0.73

-0.74

+0.01

Martin ratioReturn relative to average drawdown

-1.60

-1.60

+0.01

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

XID.TO vs. INDY - Sharpe Ratio Comparison

The current XID.TO Sharpe Ratio is -0.93, which is comparable to the INDY Sharpe Ratio of -0.96. The chart below compares the historical Sharpe Ratios of XID.TO and INDY, 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

XID.TOINDYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.93

-0.96

+0.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.26

0.29

-0.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.37

0.39

-0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.33

0.32

+0.01

Drawdowns

XID.TO vs. INDY - Drawdown Comparison

The maximum XID.TO drawdown since its inception was -42.26%, roughly equal to the maximum INDY drawdown of -42.06%. Use the drawdown chart below to compare losses from any high point for XID.TO and INDY.

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Drawdown Indicators

XID.TOINDYDifference

Max Drawdown

Largest peak-to-trough decline

-42.26%

-42.06%

-0.20%

Max Drawdown (1Y)

Largest decline over 1 year

-18.75%

-18.51%

-0.24%

Max Drawdown (3Y)

Largest decline over 3 years

-20.11%

-19.76%

-0.35%

Max Drawdown (5Y)

Largest decline over 5 years

-20.11%

-19.76%

-0.35%

Max Drawdown (10Y)

Largest decline over 10 years

-39.46%

-38.81%

-0.65%

Current Drawdown

Current decline from peak

-18.69%

-18.46%

-0.23%

Average Drawdown

Average peak-to-trough decline

-10.43%

-10.29%

-0.14%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.57%

8.49%

+0.08%

Volatility

XID.TO vs. INDY - Volatility Comparison

iShares India Index ETF (XID.TO) and iShares India 50 ETF (INDY) have volatilities of 4.96% and 4.77%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

XID.TOINDYDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.96%

4.77%

+0.19%

Volatility (6M)

Calculated over the trailing 6-month period

12.55%

12.27%

+0.28%

Volatility (1Y)

Calculated over the trailing 1-year period

14.84%

14.19%

+0.65%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.32%

13.80%

+0.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.22%

17.94%

+0.28%

XID.TO vs. INDY - Expense Ratio Comparison

XID.TO has a 1.08% expense ratio, which is higher than INDY's 0.94% expense ratio.

Dividends

XID.TO vs. INDY - Dividend Comparison

XID.TO's dividend yield for the trailing twelve months is around 16.69%, more than INDY's 9.58% yield.

PositionTTM20252024202320222021202020192018201720162015
INDY
iShares India 50 ETF		9.58%8.11%0.24%0.38%3.75%7.12%0.08%0.58%0.55%0.27%0.48%0.57%
XID.TO
iShares India Index ETF		16.69%14.32%0.17%0.42%3.45%6.82%0.03%0.43%0.39%0.16%0.36%0.36%

Frequently Asked Questions

With a correlation of 0.94, XID.TO and INDY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

On fees, INDY is cheaper at 0.94% per year. The better choice depends on whether you care most about return, fees, risk, or income.

INDY is cheaper with a 0.94% expense ratio, compared with 1.08% for XID.TO.

XID.TO tracks Morningstar Gbl GR CAD, while INDY tracks S&P CNX Nifty Index. Their fees differ too: 1.08% for XID.TO and 0.94% for INDY.

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