INDEvsINDZETF Comparison
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Matthews India Active ETF (INDE) and VanEck India Select ETF (INDZ) belong to the same industry segment: Uncategorized Equities. INDE's top 3 sector exposures are Finance, Consumer Cyclicals and Consumer Services. In contrast, INDZ's top sector exposures are Finance, Industrials and Non-Energy Materials. INDE is more expensive with a Total Expense Ratio (TER) of 0.79%, versus 0.75% for INDZ. Run a side-by-side ETF comparison of INDE and INDZ 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 INDZ performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/19/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | INDE INDZ | -2.77%-5.18% | -0.86%-4.89% | -4.45%n/a | -5.91%n/a | +17.11%n/a | n/an/a |
| Flows | INDE INDZ | -- | -+$3M | +$8M- | +$8M- | +$16M- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | INDE INDZ | +14.63%+13.95% | +18.75%n/a | +16.99%n/a | n/an/a |
| Max drawdown | INDE INDZ | -6.80%-10.15% | -19.70%n/a | -23.34%n/a | n/an/a |
| Max drawdown duration | INDE INDZ | 49d46d | 341dn/a | 756dn/a | n/an/a |
Trading data
INDE | INDZ | |
Last sale 10/20/2026 at 1:30 PM | $29.06 | $23.64 |
| Previous close 10/19/2026 | $28.85 | $23.64 |
| Consolidated volume 10/19/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/20/2026 at 1:30 PM
Live
Closed
INDE | INDZ | |
|---|---|---|
| Last price | $29.06 | $23.64 |
| 1D performance | +0.75% | -0.01% |
| AuM | $17.25 M | $5.18 M |
| E/R | 0.79% | 0.75% |
Characteristics
INDE | INDZ | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Matthews Asia | VanEck |
| Benchmark | - | - |
| N° of holdings | 72 | 70 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 22, 2023 | February 19, 2026 |
| ESG | No | No |
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Exposure
Countries
INDE
India
99.13%
Other
0.87%
INDZ
India
98.41%
Other
1.59%
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%
INDZ
Finance
25.71%
Industrials
20.52%
Non-Energy Materi.
12.29%
Healthcare
11.56%
Technology
8.45%
Other
21.47%
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Diversification
INDE
Total weight of top 15 holdings out of 15
52.86%
INDZ
Total weight of top 15 holdings out of 15
37.24%
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%
INDZ
Reliance Industries Ltd.
3.21%
Multi Commodity Exchange of India Ltd.
3.15%
Maruti Suzuki India Ltd.
2.88%
State Bank of India
2.81%
Cholamandalam Investment & Finance Co. Ltd.
2.76%
HDFC Bank Ltd.
2.74%
The Phoenix Mills Ltd.
2.70%
Larsen & Toubro Ltd.
2.31%
Tata Consumer Products Ltd.
2.22%
Bharat Heavy Electricals Ltd.
2.17%
Neuland Laboratories Ltd.
2.16%
ICICI Bank Ltd.
2.13%
Netweb Technologies India Ltd.
2.05%
Bharat Electronics Ltd.
2.05%
Delhivery Ltd.
1.93%
Frequently asked questions about INDE and INDZ
Which ETF is bigger: INDE or INDZ?
As of October 19, 2026, INDE holds $17.25 M in assets under management (AUM), while INDZ manages $5.18 M.
What sectors do the INDE and INDZ ETFs invest in?
INDE leans toward sectors like Finance, Consumer Cyclicals and Consumer Services. Meanwhile, INDZ focuses on Finance, Industrials and Non-Energy Materials.
What are the top holdings of the INDE ETF and INDZ ETF?
INDE top holdings include Eternal Ltd., ICICI Bank Ltd. and HDFC Bank Ltd.. INDZ holds in its top three: Reliance Industries Ltd., Multi Commodity Exchange of India Ltd. and Maruti Suzuki India Ltd..
Which ETF is more diversified: INDE or INDZ?
INDE holds 72 securities with 52.86% of its assets in the top 15. INDZ has 70 securities and a top 15 weight of 37.24%.
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