INDY — iShares India 50 ETF
Single Country - Emerging Ranked #451 of 458 tracked ETFs · Issued by iShares
INDY Price Performance — Growth of $10,000
Value of a $10,000 investment in INDY over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.
INDY Drawdown
The "underwater" chart: INDY's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.
What If You'd Invested in INDY?
See what a lump sum in INDY would have grown to, with the option to add a regular monthly contribution on top. Figures use total returns — dividends are assumed reinvested.
Past performance doesn't predict future results. Assumes contributions on the first trading day of each month, no trading costs or taxes, and reinvested distributions. History is limited to the range published in the site's daily return data.
Overview
The iShares India 50 ETF (INDY) is an iShares-managed fund within the Single Country - Emerging category, holding $552 million in assets. It carries an ETFValuer grade of F, ranking 20th out of 22 peers and 451st of 458 tracked ETFs overall. The fund’s 0.65% expense ratio exceeds the category median of 0.59%, while its 0.85% dividend yield trails the peer median of 2.24%. Top holdings account for 54.5% of assets, with HDFC BANK LIMITED representing the largest single position at 11.1%.
Price action shows the fund trading at $42.55, which sits at 12.7% of its 52-week range. Short-term performance reflects recent weakness, with one-month and year-to-date returns of -3.22% and -13.80% respectively. This contrasts with a positive 1.99% gain over the three-month horizon, though the one-year return of -10.74% significantly underperforms the category median of +19.48%. The F grade has remained unchanged across the last 35 tracked days, and price history is available for 3.0 years.
The fund exhibits a beta of 0.51 and an annualized volatility of 14.74%, which is labeled as Low. Despite this lower volatility profile, the Sharpe ratio stands at -1.07, indicating poor risk-adjusted returns relative to the risk-free rate. Maximum drawdown has reached -22.40%, highlighting significant downside potential during the tracked period. Liquidity is characterized by an average daily volume of 106,932 shares and a bid/ask spread of 2.93%.
AI-generated summary based on the data on this page.
INDY Top Holdings
| # | Holding | % of Net Assets | Value |
|---|---|---|---|
| 1 | HDFC BANK LIMITED | 11.11% | $62M |
| 2 | ICICI BANK LIMITED | 8.98% | $50M |
| 3 | RELIANCE INDUSTRIES LIMITED | 7.98% | $45M |
| 4 | BHARTI AIRTEL LIMITED | 5.14% | $29M |
| 5 | LARSEN AND TOUBRO LIMITED | 4.43% | $25M |
| 6 | State Bank of India | 3.88% | $22M |
| 7 | BlackRock Funds III: BlackRock Cash Funds: Treasury; SL Agency Shares | 3.57% | $20M |
| 8 | AXIS BANK LIMITED | 3.51% | $20M |
| 9 | INFOSYS LIMITED | 3.21% | $18M |
| 10 | KOTAK MAHINDRA BANK LIMITED | 2.64% | $15M |
Holdings as of 2026-06-30 per the fund's most recent SEC N-PORT-P filing. Top 10 holdings make up 54.5% of net assets — a rough gauge of concentration risk (the higher this figure, the more the fund's return depends on a handful of names). To see how INDY's holdings overlap with other ETFs you own or are considering, check the Stock Overlap tool.
Which Funds Overlap With INDY
Holding two funds that own the same companies adds cost and complexity without adding much diversification. These tracked ETFs share the most names with INDY's top 10 — INDA overlaps most, holding 8 of the same companies as INDY's top 10 (47.9% of INDY's assets).
| ETF | Name | Shared Companies | INDY Weight | Examples |
|---|---|---|---|---|
| INDA | iShares MSCI India ETF | 8 | 47.9% | HDFC BANK LIMITED, RELIANCE INDUSTRIES LIMITED, ICICI BANK LIMITED… |
| VWO | Vanguard FTSE Emerging Markets Index Fund ETF Shares | 2 | 19.1% | HDFC BANK LIMITED, RELIANCE INDUSTRIES LIMITED |
| EMXC | iShares MSCI Emerging Markets ex China ETF | 2 | 19.1% | HDFC BANK LIMITED, RELIANCE INDUSTRIES LIMITED |
| SCHE | Schwab Emerging Markets Equity ETF | 2 | 19.1% | HDFC BANK LIMITED, RELIANCE INDUSTRIES LIMITED |
| SPEM | State Street SPDR Portfolio Emerging Markets ETF | 1 | 11.1% | HDFC BANK LIMITED |
Compares the top 10 reported holdings of each fund, so it's a floor on true overlap — two S&P 500 trackers overlap ~100% even when only 10 names are listed. Use the Stock Overlap tool to search by individual company.
Market Backdrop
10-Year Treasury Yield: 4.80% (as of 2026-09-08) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.
CBOE Volatility Index (VIX): 15.72 (as of 2026-09-08) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.
Federal Funds Rate: 3.63% (as of 2026-08-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.
What INDY's Fees Cost You
INDY charges an expense ratio of 0.65% a year, deducted automatically from the fund's value. Small percentages compound into real money — adjust the figures below to see the impact on your own numbers.
Assumes a constant gross return and no additional contributions — a simplification, but it isolates exactly what the expense ratio costs. Try the full fee calculator to model contributions and compare any two funds.
INDY Dividend Income Estimator
INDY currently yields 0.85%. Enter an amount to see the income that implies, or set a monthly income target to see the investment it would take.
Based on the fund's current trailing yield, which varies with price and distributions — treat it as an estimate, not a guarantee. Yields are not adjusted for tax.
INDY Liquidity, Domicile & Tax Treatment
Liquidity: Quoted bid/ask spread is 2.93% and average daily volume is 107K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $552M provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.
Domicile & tax treatment: INDY is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.
INDY Performance History
| Period | Return |
|---|---|
| 1-Day | -1.01% |
| 1-Week | -2.40% |
| 1-Month | -3.22% |
| 3-Month | +1.99% |
| 6-Month | -5.24% |
| YTD | -13.80% |
| 1-Year | -10.74% |
| 3-Year | -0.28% |
How INDY Compares to Other Single Country - Emerging ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #57 | B |
EWT | iShares MSCI Taiwan ETF | +91.69% | 0.59% | $11.8B |
| #60 | B |
FLKR | Franklin FTSE South Korea ETF | +160.60% | 0.09% | $1.70B |
| #67 | B |
EWY | iShares MSCI South Korea ETF | +162.93% | 0.59% | $27.7B |
| #80 | B |
EPOL | iShares MSCI Poland ETF | +44.26% | 0.59% | $848M |
| #106 | B |
EPU | iShares MSCI Peru ETF | +67.89% | 0.59% | $564M |
| #154 | C |
GREK | Global X MSCI Greece ETF | +39.38% | 0.56% | $343M |
| #231 | C |
EWZ | iShares MSCI Brazil ETF | +34.48% | 0.59% | $8.17B |
| #274 | C |
EZA | iShares MSCI South Africa ETF | +29.52% | 0.59% | $578M |
| #285 | C |
ECH | iShares MSCI Chile ETF | +24.98% | 0.59% | $1.04B |
| #354 | C |
EWW | iShares MSCI Mexico ETF | +23.33% | 0.5% | $1.82B |
| #359 | C |
THD | iShares MSCI Thailand ETF | +29.52% | 0.59% | $346M |
| #377 | D |
EWM | iShares MSCI Malaysia ETF | +15.63% | 0.5% | $325M |
| #414 | D |
KSA | iShares MSCI Saudi Arabia ETF | +7.27% | 0.75% | $639M |
| #419 | D |
ASHR | Xtrackers Harvest CSI 300 China A-Shares ETF | +9.77% | 0.65% | $1.57B |
| #434 | D |
INDA | iShares MSCI India ETF | -7.98% | 0.61% | $6.75B |
| #438 | D |
MCHI | iShares MSCI China ETF | -12.76% | 0.59% | $6.33B |
| #439 | D |
FXI | iShares China Large-Cap ETF | -10.78% | 0.73% | $4.23B |
| #443 | F |
VNM | VanEck Vietnam ETF | +2.98% | 0.66% | $521M |
| #445 | F |
GXC | State Street SPDR S&P China ETF | -9.06% | 0.59% | $474M |
| #451 | F |
INDY | iShares India 50 ETF | -10.74% | 0.65% | $552M |
| #455 | F |
KWEB | KraneShares CSI China Internet ETF | -32.66% | 0.69% | $5.10B |
| #456 | F |
EIDO | iShares MSCI Indonesia ETF | -22.82% | 0.59% | $502M |