INDA vs SPY

Comparison between ISHARES MSCI INDIA ETF (INDA, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed INDA, delivering a return of +13.3% compared to +4.6%

INDA vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	INDA(ETF)	SPY(ETF)
Net Assets	$6.70B	$652B
Expense Ratio	0.61%	0.09%
Max Drawdown	46.14%	56.47%
Sharpe Ratio	-0.60	2.07
5Y Beta	0.46	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	-8.35%	5.43%
5Y EPS CAGR	N/A	25.79%
Debt to Equity	N/A	22.35%
P/S Ratio	N/A	3.55
P/B Ratio	N/A	5.29

Net Assets

INDA

$6.70B

Winner

SPY

$652B

Expense Ratio

INDA

0.61%

Winner

SPY

0.09%

Max Drawdown

Winner

INDA

46.14%

SPY

56.47%

Sharpe Ratio

INDA

-0.60

Winner

SPY

2.07

5Y Beta

Winner

INDA

0.46

SPY

1.00

P/E Ratio

INDA

N/A

SPY

28.24

Forward P/E

INDA

N/A

SPY

21.85

5Y Dividends CAGR

INDA

-8.35%

Winner

SPY

5.43%

5Y EPS CAGR

INDA

N/A

SPY

25.79%

Debt to Equity

INDA

N/A

SPY

22.35%

P/S Ratio

INDA

N/A

SPY

3.55

P/B Ratio

INDA

N/A

SPY

5.29

INDA vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	INDA	SPY
1 month	+1.16%	+9.11%
3 months	-6.74%	+6.59%
6 months	-7.27%	+10.56%
1 year	-3.30%	+32.04%
5 years(CAGR)	+4.64%	+13.35%
10 years(CAGR)	+7.61%	+15.49%
Max(CAGR)	+5.54%	+8.50%

INDA

+1.16%

Winner

SPY

+9.11%

INDA

-6.74%

Winner

SPY

+6.59%

INDA

-7.27%

Winner

SPY

+10.56%

INDA

-3.30%

Winner

SPY

+32.04%

5Y(CAGR)

INDA

+4.64%

Winner

SPY

+13.35%

10Y(CAGR)

INDA

+7.61%

Winner

SPY

+15.49%

Max(CAGR)

INDA

+5.54%

Winner

SPY

+8.50%

INDA vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	INDA	SPY
2026	-8.65%	+8.27%
2025	+1.22%	+18.00%
2024	+8.95%	+25.59%
2023	+16.71%	+26.72%
2022	-10.39%	-18.64%
2021	+21.22%	+30.52%
2020	+13.44%	+17.28%
2019	+7.78%	+31.09%
2018	-6.87%	-5.24%
2017	+35.47%	+20.78%
2016	+0.48%	+13.59%
2015	-8.46%	+1.31%
2014	+27.77%	+14.56%
2013	-6.75%	+29.00%
2012	-1.36%	+14.17%
2011	N/A	+0.85%
2010	N/A	+13.14%
2009	N/A	+22.67%
2008	N/A	-36.25%
2007	N/A	+5.32%
2006	N/A	+13.85%
2005	N/A	+5.32%
2004	N/A	+10.75%
2003	N/A	+24.18%
2002	N/A	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

INDA vs SPY Drawdown Comparison

The maximum drawdown for INDA was -45.08%, occurring on Mar 23, 2020. Recovery took 720 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current INDA drawdown is -15.19%.

Rank	INDA	SPY
#1	-45.08% Jan 23, 2018 - Dec 1, 2020	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-29.62% Feb 1, 2013 - May 12, 2014	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-28.72% Mar 3, 2015 - Jun 2, 2017	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-26.46% Feb 21, 2012 - Jan 18, 2013	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-22.72% Sep 26, 2024 - Mar 30, 2026	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-21.57% Jan 12, 2022 - Dec 18, 2023	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-11.64% Nov 21, 2014 - Jan 20, 2015	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-9.73% Mar 11, 2021 - May 26, 2021	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-8.56% Nov 12, 2021 - Jan 11, 2022	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-7.29% Aug 4, 2017 - Oct 27, 2017	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-7.23% Sep 5, 2014 - Nov 18, 2014	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-6.79% Jan 20, 2021 - Feb 3, 2021	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-6.09% Jun 3, 2024 - Jun 14, 2024	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-5.48% Nov 6, 2017 - Dec 20, 2017	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-4.92% Aug 12, 2014 - Sep 5, 2014	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between INDA and SPY is 0.96 which considered as a very strong positive correlation - the stocks move almost identically together.

0.96

-101

Dividend Comparison (1999 - 2026)

INDA vs SPY dividend yield comparison.

Year	INDA	SPY
2026	0.00%	0.24%
2025	0.00%	1.07%
2024	0.76%	1.21%
2023	0.16%	1.40%
2022	0.00%	1.65%
2021	6.44%	1.20%
2020	0.27%	1.52%
2019	0.99%	1.75%
2018	0.94%	2.04%
2017	1.09%	1.80%
2016	0.90%	2.03%
2015	1.19%	2.06%
2014	0.63%	1.87%
2013	0.61%	1.81%
2012	0.41%	2.18%
2011	0.00%	2.05%
2010	0.00%	1.80%
2009	0.00%	1.95%
2008	0.00%	3.02%
2007	0.00%	1.85%
2006	0.00%	1.73%
2005	0.00%	1.73%
2004	0.00%	1.82%
2003	0.00%	1.47%
2002	0.00%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%