INDEvsINDAETF Comparison
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Matthews India Active ETF (INDE) belongs to the Uncategorized Equities segment. iShares MSCI India ETF (INDA) is part of the EM Large & Mid Cap segment. INDE's top 3 sector exposures are Finance, Consumer Cyclicals and Consumer Services. In contrast, INDA's top sector exposures are Finance, Industrials and Consumer Cyclicals. INDE is more expensive with a Total Expense Ratio (TER) of 0.79%, versus 0.61% for INDA. INDE is down -3.1% year-to-date (YTD) with +$8M in YTD flows. INDA performs worse with -11.72% YTD performance, and -$2.59B in YTD flows. Run a side-by-side ETF comparison of INDE and INDA below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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INDE vs INDA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | INDE INDA | +0.42%+0.32% | +0.35%-1.95% | -3.10%-11.72% | -4.56%-11.71% | +19.14%+7.88% | n/a+1.75% |
| Flows | INDE INDA | --$604M | --$799M | +$8M-$2.59B | +$8M-$2.52B | +$16M-$560M | --$154M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | INDE INDA | +14.37%+13.29% | +18.66%+14.68% | +16.96%+14.91% | n/a+15.38% |
| Max drawdown | INDE INDA | -6.80%-9.87% | -19.70%-17.75% | -23.34%-23.22% | n/a-23.22% |
| Max drawdown duration | INDE INDA | 46d74d | 338d359d | 753d750d | n/a750d |
Trading data
INDE | INDA | |
Last sale 10/19/2026 at 1:30 PM | $28.85 | $47.40 |
| Previous close 10/16/2026 | $29.11 | $47.66 |
| Consolidated volume 10/16/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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INDE
is actively managed and doesn’t replicate an indexINDE | INDA | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
Main metrics
Last update 10/19/2026 at 1:30 PM
Live
Closed
INDE | INDA | |
|---|---|---|
| Last price | $28.85 | $47.40 |
| 1D performance | -0.89% | -0.55% |
| AuM | $17.49 M | $5.88 B |
| E/R | 0.79% | 0.61% |
Characteristics
INDE | INDA | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Matthews Asia | iShares |
| Benchmark | - | MSCI Emerging Markets India Index |
| N° of holdings | 72 | 169 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 22, 2023 | February 2, 2012 |
| ESG | No | No |
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Exposure
Countries
INDE
India
99.13%
Other
0.87%
INDA
India
99.62%
Other
0.38%
Sectors
INDE
Finance
32.67%
Consumer Cyclical.
12.71%
Consumer Services
11.97%
Industrials
9.36%
Technology
8.46%
Healthcare
8.27%
Other
16.56%
INDA
Finance
31.12%
Industrials
11.13%
Consumer Cyclical.
9.81%
Non-Energy Materi.
9.18%
Energy
7.94%
Technology
7.93%
Other
22.89%
Diversification
INDE
Total weight of top 15 holdings out of 15
52.86%
INDA
Total weight of top 15 holdings out of 15
42.02%
Top 15 holdings
Data as of August 31, 2026
INDE
Eternal Ltd.
8.73%
ICICI Bank Ltd.
6.01%
HDFC Bank Ltd.
5.89%
Neuland Laboratories Ltd.
4.49%
Bajaj Finance Ltd.
3.70%
Shriram Finance Ltd.
2.99%
Bharti Airtel Ltd.
2.91%
Ather Energy Ltd.
2.82%
Axis Bank Ltd.
2.48%
Reliance Industries Ltd.
2.42%
Swiggy Ltd.
2.27%
Mahindra & Mahindra Ltd.
2.09%
Kotak Mahindra Bank Ltd.
2.08%
Marico Ltd.
2.08%
Star Health & Allied Insurance Co. Ltd.
1.90%
INDA
HDFC Bank Ltd.
5.95%
ICICI Bank Ltd.
5.67%
Reliance Industries Ltd.
5.45%
Bharti Airtel Ltd.
3.78%
BlackRock Cash Funds - Treasury
3.05%
Infosys Ltd.
2.56%
Axis Bank Ltd.
2.18%
Mahindra & Mahindra Ltd.
2.12%
Larsen & Toubro Ltd.
2.02%
Bajaj Finance Ltd.
1.95%
Kotak Mahindra Bank Ltd.
1.70%
State Bank of India
1.45%
Tata Consultancy Services Ltd.
1.45%
Titan Co. Ltd.
1.35%
Sun Pharmaceutical Industries Ltd.
1.33%
Frequently asked questions about INDE and INDA
How have the INDE and INDA ETFs performed in 2026?
As of October 16, 2026, INDE is down -3.1% year-to-date (YTD), while INDA has lost -11.72%. That puts INDE better performer ahead so far this year.
Which ETF is attracting more investor money: INDE or INDA?
Year-to-date, the INDE ETF saw +$8M in flows, compared to -$2.59B for INDA.
Which ETF is more volatile: INDE or INDA?
Over the past year, INDE had a volatility of 18.66%, while INDA experienced 14.68%.
Which ETF is bigger: INDE or INDA?
As of October 16, 2026, INDE holds $17.49 M in assets under management (AUM), while INDA manages $5.88 B.
What sectors do the INDE and INDA ETFs invest in?
INDE leans toward sectors like Finance, Consumer Cyclicals and Consumer Services. Meanwhile, INDA focuses on Finance, Industrials and Consumer Cyclicals.
What are the top holdings of the INDE ETF and INDA ETF?
INDE top holdings include Eternal Ltd., ICICI Bank Ltd. and HDFC Bank Ltd.. INDA holds in its top three: HDFC Bank Ltd., ICICI Bank Ltd. and Reliance Industries Ltd..
Which ETF is more diversified: INDE or INDA?
INDE holds 72 securities with 52.86% of its assets in the top 15. INDA has 169 securities and a top 15 weight of 42.02%.
Latest news about INDE & INDA
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