iShares MSCI India ETF
ALTAR
Score™		 4.5% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 23.5x P/Sales
ratio		 2.5x
P/BV
ratio		 3.2x Div.
yield		 1.5%


  • Description
  • Performance
  • Comps
  • premium Fundamentals
  • premium Valuation
  • premium Rating
iShares MSCI India Index Fund is an exchange-traded fund incorporated in the USA. The Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI India Index.

FUND BASICS
Category Emerging Market Equities
Fund Sponsor BlackRock Funds/USA
Website www.ishares.com
Inception date Feb 02, 2012
Assets (mns) $9,618
Currency USD
Expense ratio 65 bp
Distributions Semi-Annually

FUND STRUCTURE
Regulation Open-Ended Fund
Custodian State Street Bank & Trust
Weighting Market Cap
Index replication Optimized
Uses derivatives No
Options available Yes

SECTOR BREAKDOWN

 


CONSTITUENT BREAKDOWN
No. of constituents 161
Wgt avg mkt cap (mns) $51,223
Large cap (>$10bn) 85.8%
Mid cap ($2-10bn) 13.4%
Small cap (<$2bn) 0.0%
Developed mkts 0.0%
Emerging mkts 100.0%

TOP TEN HOLDINGS
HDFC BANK LIMITED 8.2 %
RELIANCE INDUSTRIES LTD 6.7 %
ICICI BANK LTD 5.3 %
BHARTI AIRTEL LIMITED 4.0 %
INFOSYS TECHNOLOGIES LTD 3.6 %
MAHINDRA & MAHINDRA LTD. 2.5 %
AXIS BANK LIMITED 2.1 %
BAJAJ FINANCE LTD 2.1 %
TATA CONSULTANCY SVS LTD 2.1 %
LARSEN & TOUBRO LIMITED 2.0 %
Total 38.6 %

TOP COUNTRY EXPOSURE
INDIA 89.9 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru November 28)
Year-to-date 1 year 5 years 10 years Since Incep.
3.9% -0.1% 9.9% 8.4% 6.4%

Market Correlations
versus... Beta R-squared
S&P500 0.35 23%
MSCI EAFE 0.44 26%
MSCI Emg. Mkts. 0.46 32%

Technical Indicators
Recent close $54.71
30d moving avg. $54.45
Annualized volatility 13.0%
Short interest (ETF) 10.9%
Relative strength (RSI) 55

Liquidity measures
Avg. volume (thou.) 5,303
Turnover 3.0%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $1,033

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 140 potential alternatives to the iShares MSCI India ETF ETF based on the alternatives' overlap in portfolio holdings with INDA. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.

Benchmark ticker: INDA Expense: 65 bp ALTAR Score™: 4.5%


ALTERNATIVE ETFs BASED ON OVERLAP WITH INDA
Ticker Fund
Name		 Overlap1
vs INDA
(%)		 Expense
ratio
(bp)		 Savings
vs INDA
(bp)		 ALTAR
Score™
(%)		 ALTAR
vs INDA
(%)
PIN Invesco India ETF 78.5 78 -13 4.6 +0.1
FLIN Franklin FTSE India ETF 73.0 19 46 3.9 -0.6
INDY iShares India 50 ETF 65.2 89 -24 4.9 +0.4
EPI WisdomTree India Earnings Fund 53.5 85 -20 4.8 +0.3
NFTY First Trust India NIFTY 50 Equal Weight ETF 44.6 80 -15 4.6 +0.1
BKF iShares MSCI BIC ETF 28.3 69 -4 12.9 +8.4
NDIA Global X India Active ETF 28.2 75 -10 5.2 +0.7
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 24.5 32 33 6.3 +1.8
STXE Strive Emerging Markets Ex-China ETF 24.3 32 33 7.3 +2.8
INDF Nifty India Financials ETF 23.2 75 -10 6.7 +2.2
RNEM First Trust Emerging Markets Equity Select ETF 21.4 75 -10 8.4 +3.8
XC WisdomTree Emerging Markets Ex-China Fund 21.3 32 33 5.4 +0.8
XCNY SPDR S&P Emerging Markets ex-China ETF 20.8 15 50 7.2 +2.7
EMXC iShares MSCI Emerging Markets ex China ETF 20.0 25 40 6.9 +2.4
GLIN VanEck India Growth Leaders ETF 18.9 77 -12 5.7 +1.2
EMMF WisdomTree Emerging Markets Multifactor Fund 18.8 48 17 7.0 +2.5
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 18.2 25 40 6.4 +1.9
JHEM John Hancock Multifactor Emerging Markets ETF 18.2 49 16 9.3 +4.8
EEMA iShares MSCI Emerging Markets Asia ETF 18.0 49 16 9.0 +4.5
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 17.5 24 41 7.2 +2.7
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 16.9 40 25 6.7 +2.1
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 16.3 30 35 9.0 +4.5
AAXJ iShares MSCI All Country Asia ex Japan ETF 16.3 70 -5 8.4 +3.9
LDEM iShares ESG MSCI EM Leaders ETF 16.0 17 48 13.8 +9.3
FLAX Franklin FTSE Asia Ex Japan ETF 15.9 19 46 8.4 +3.8
INCO Columbia India Consumer ETF 15.8 75 -10 1.7 -2.8
ECON Columbia Emerging Markets Consumer ETF 15.5 49 16 11.6 +7.1
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 15.2 32 33 8.4 +3.8
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 15.0 15 50 9.5 +5.0
GMF SPDR S&P Emerging Asia Pacific ETF 14.6 49 16 9.3 +4.8
BKEM BNY Mellon Emerging Markets Equity ETF 14.6 11 54 9.2 +4.7
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 14.5 36 29 9.0 +4.4
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 14.3 66 -1 8.8 +4.3
NUEM Nuveen ESG Emerging Markets Equity ETF 14.1 36 29 7.3 +2.7
EEM iShares MSCI Emerging Markets ETF 14.1 69 -4 9.4 +4.9
VWO Vanguard FTSE Emerging Markets ETF 14.1 7 58 10.1 +5.6
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 14.1 15 50 7.4 +2.9
EMDM First Trust Bloomberg Emerging Market Democracies ETF 14.0 75 -10 9.6 +5.0
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 13.7 45 20 9.5 +5.0
ESGE iShares ESG Aware MSCI EM ETF 13.3 25 40 9.3 +4.7
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 13.3 20 45 9.7 +5.2
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 13.2 30 35 9.8 +5.2
SCHE Schwab Emerging Markets Equity ETF 13.1 11 54 10.4 +5.9
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 12.9 95 -30 10.8 +6.3
DEHP Dimensional Emerging Markets High Profitability ETF 12.8 41 24 6.3 +1.8
EMXF iShares ESG Advanced MSCI EM ETF 12.8 16 49 7.9 +3.4
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 12.8 50 15 10.2 +5.7
EVLU iShares MSCI Emerging Markets Value Factor ETF 12.3 35 30 16.1 +11.6
AVES Avantis Emerging Markets Value ETF 12.1 36 29 10.7 +6.1
IEMG iShares Core MSCI Emerging Markets ETF 12.1 9 56 9.7 +5.2
EMGF iShares Emerging Markets Equity Factor ETF 11.9 25 40 10.7 +6.2
ROAM Hartford Multifactor Emerging Markets ETF 11.4 44 21 11.0 +6.5
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 11.0 33 32 9.2 +4.7
SPEM SPDR Portfolio Emerging Markets ETF 10.8 7 58 10.3 +5.8
FDEM Fidelity Emerging Markets Multifactor ETF 10.7 25 40 12.0 +7.5
DGIN VanEck Digital India ETF 10.6 71 -6 1.8 -2.7
DFEV Dimensional Emerging Markets Value ETF 10.6 43 22 11.8 +7.3
DEXC Dimensional Emerging Markets ex China Core EquityETF 10.5 53 12 7.2 +2.7
DFAE Dimensional Emerging Core Equity Market ETF 10.5 35 30 8.5 +4.0
UEVM VictoryShares Emerging Markets Value Momentum ETF 9.7 45 20 10.1 +5.5
AVXC Avantis Emerging Markets Ex-China Equity ETF 9.7 33 32 8.0 +3.5
PXH Invesco FTSE RAFI Emerging Markets ETF 9.5 49 16 14.7 +10.2
AVEM Avantis Emerging Markets Equity ETF 9.4 33 32 8.1 +3.6
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 9.3 44 21 10.4 +5.9
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 9.0 88 -23 7.9 +3.4
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 8.9 39 26 15.3 +10.8
XCEM Columbia EM Core ex-China ETF 8.6 16 49 7.6 +3.1
MINV Matthews Asia Innovators Active ETF 8.3 79 -14 7.0 +2.5
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 8.2 41 24 8.1 +3.6
DFEM Dimensional Emerging Markets Core Equity 2 ETF 8.1 38 27 8.5 +4.0
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 8.1 59 6 8.5 +4.0
EMC Global X Emerging Markets Great Consumer ETF 8.0 75 -10 7.4 +2.9
EEMO Invesco S&P Emerging Markets Momentum ETF 6.8 29 36 7.5 +3.0
AVSE Avantis Responsible Emerging Markets Equity ETF 6.5 33 32 7.8 +3.3
IPAV Global X Infrastructure Development ex-U.S. ETF 5.9 55 10 6.7 +2.2
JADE JPMorgan Active Developing Markets Equity ETF 5.4 65 0 7.6 +3.1
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 5.2 60 5 7.8 +3.3
ACWV iShares MSCI Global Min Vol Factor ETF 4.9 20 45 5.9 +1.4
VIGI Vanguard International Dividend Appreciation ETF 4.7 10 55 6.3 +1.8
MEM Matthews Emerging Markets Equity Active ETF 4.7 79 -14 7.3 +2.8
ACWX iShares MSCI ACWI ex U.S. ETF 4.4 34 31 7.3 +2.7
GXUS Goldman Sachs MarketBeta Total International Equity ETF 4.3 18 47 7.2 +2.7
VEU Vanguard FTSE All-World ex-US Index Fund 4.2 4 61 7.6 +3.1
CGXU Capital Group International Focus Equity ETF 4.1 54 11 5.4 +0.9
VXUS Vanguard Total International Stock ETF 4.0 5 60 7.6 +3.0
IXUS iShares Core MSCI Total International Stock ETF 3.9 7 58 7.5 +2.9
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 3.7 41 24 7.1 +2.5
PICK iShares MSCI Global Metals & Mining Producers ETF 3.6 39 26 10.7 +6.1
CWI SPDR MSCI ACWI ex-US ETF 3.5 30 35 7.5 +2.9
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 3.5 42 23 6.3 +1.8
VSGX Vanguard ESG International Stock ETF 3.4 10 55 7.4 +2.9
NXTG First Trust Indxx NextG ETF 3.2 70 -5 5.0 +0.4
FTAG First Trust Indxx Global Agriculture ETF 3.1 70 -5 8.3 +3.8
IGRO iShares International Dividend Growth ETF 3.1 15 50 7.0 +2.4
LEGR First Trust Indxx Innovative Transaction & Process ETF 3.0 65 0 8.1 +3.5
DFAX Dimensional World ex U.S. Core Equity 2 ETF 2.8 30 35 7.4 +2.9
SCHY Schwab International Dividend Equity ETF 2.6 14 51 9.2 +4.7
DEM WisdomTree Emerging Markets High Dividend Fund 2.6 63 2 12.7 +8.2
FEM First Trust Emerging Markets AlphaDEX Fund 2.2 80 -15 11.3 +6.8
IQDF FlexShares International Quality Dividend Index Fund 2.0 47 18 8.4 +3.9
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.8 47 18 7.8 +3.3
EYLD Cambria Emerging Shareholder Yield ETF 1.8 66 -1 11.6 +7.1
ACWI iShares MSCI ACWI ETF 1.6 32 33 5.3 +0.8
CRBN iShares MSCI ACWI Low Carbon Target ETF 1.5 20 45 5.5 +1.0
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 1.4 46 19 9.4 +4.9
VT Vanguard Total World Stock ETF 1.4 6 59 5.7 +1.2
JIVE JPMorgan International Value ETF 1.4 55 10 10.7 +6.2
DGT State Street SPDR Global Dow ETF 1.3 50 15 6.5 +2.0
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 1.3 12 53 5.1 +0.6
JIG JPMorgan International Growth ETF 1.2 55 10 4.7 +0.2
VNQI Vanguard Global ex-U.S. Real Estate ETF 1.2 12 53 8.2 +3.7
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 1.2 86 -21 14.2 +9.7
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 1.2 86 -21 0.5 -4.1
INQQ India Internet & Ecommerce ETF 1.2 86 -21 1.3 -3.2
KNCT Invesco Next Gen Connectivity ETF 1.2 40 25 4.5 -0.0
KLMT Invesco MSCI Global Climate 500 ETF 1.1 10 55 5.6 +1.0
VEGI iShares MSCI Agriculture Producers ETF 1.1 39 26 9.1 +4.6
VYMI Vanguard International High Dividend Yield ETF 1.1 17 48 9.0 +4.5
DVYE iShares Emerging Markets Dividend ETF 1.0 49 16 17.8 +13.2
SDEM Global X MSCI SuperDividend Emerging Markets ETF 1.0 67 -2 14.7 +10.1
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 1.0 60 5 10.3 +5.8
EDIV SPDR S&P Emerging Markets Dividend ETF 0.9 49 16 9.3 +4.8
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.8 47 18 5.6 +1.1
GLOF iShares Global Equity Factor ETF 0.7 20 45 6.6 +2.1
DWX SPDR S&P International Dividend ETF 0.7 45 20 7.2 +2.6
XT iShares Exponential Technologies ETF 0.6 46 19 4.6 +0.1
DEW WisdomTree Global High Dividend Fund 0.6 58 7 8.2 +3.6
ICLN iShares Global Clean Energy ETF 0.6 41 24 3.2 -1.4
ADIV SmartETFs Asia Pacific Dividend Builder ETF 0.6 78 -13 8.9 +4.4
SDG iShares MSCI Global Sustainable Development Goals ETF 0.6 49 16 4.9 +0.4
GTEK Goldman Sachs Future Tech Leaders Equity ETF 0.5 75 -10 2.9 -1.7
FTRI First Trust Indxx Global Natural Resources Income ETF 0.5 70 -5 7.6 +3.1
CGGO Capital Group Global Growth Equity ETF 0.4 47 18 4.2 -0.4
OBOR KraneShares MSCI One Belt One Road Index ETF 0.4 79 -14 7.8 +3.3
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.4 10 55 6.6 +2.1
SAGP Strategas Global Policy Opportunities ETF 0.3 65 0 5.5 +0.9
CGW Invesco S&P Global Water Index ETF 0.3 57 8 4.7 +0.2
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.3 9 56 5.6 +1.0
ANEW ProShares MSCI Transformational Changes ETF 0.2 45 20 5.2 +0.7
PIO Invesco Global Water ETF 0.1 75 -10 4.4 -0.1

1Overlap is the percentage of holdings by weight that are identical. For example, if Fund A has a 2% position in Apple, Inc. (AAPL) and Fund B has a 5% position, their overlapping position in AAPL is 2%.

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RESULTS & ESTIMATES

  2020 2021 2022 2023 2024 2025E 2026E
Sales per share ** ** ** ** ** ** **
Earnings per share ** ** ** ** ** ** **
Dividends per share info ** ** ** ** ** ** **
Book value per share ** ** ** ** ** ** **

 

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

Sales per share growth   **% **% **% **% **% **%
EPS growth   **% **% **% **% **% **%

OTHER FUNDAMENTAL METRICS

Long term EPS growth est. **%   Debt-to-equity **x
Asset turnover **%   Assets-to-equity **x

Return on equity

Revision activity*
*Six months ago = 100

Net margins

Compound annual growth rates

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VALUATION METRICS
  2024 2025E 2026E
Price-to-sales ** ** **
Price-to-earnings ** ** **
Price-to-cash flow ** ** **
Price-to-growth ** ** **
Price-to-book value ** ** **
Yield ** ** **

Historical valuation trends

Forward
multiple:		 iShares MSCI India ETF
Relative
to:		 S&P500 MSCI EAFE MSCI Emg. Mkts. Other ETF:

AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may not be relevant.

ALTAR Score™


Calculation of ALTAR Score™
Avg. Return on Equity 15.0 %
Divided by: Fwd. P/BV 2.9 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 4.5 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.54 CATEGORY
AVERAGE		 1.54
 
The composite rating is a weighted average of analysts' consensus recommendations for individual ETF constituents, based on the following scale:

BUY = 1; OVERWEIGHT = 1.5, HOLD = 2; UNDERWEIGHT = 2.5; and SELL = 3.

Readers are cautioned that because analyst ratings tend to be inflated, the composite score may be more useful as a relative measure of sentiment between funds rather than as a stand-alone recommendation.
 

 

See RATING tab for calculation of ALTAR Score™
Risk & reward. Uses std. dev. as proxy for risk, ALTAR Score™ for return forecast.
Dividends paid by constituents to the fund. May differ from actual distributions to shareholders due to constituent changes, timing issues or other factors.
Monthly returns based on changes in price plus dividends. May differ from daily returns reported by funds. See below for standardized returns.