iShares MSCI India ETF
ALTAR
Score™		 4.3% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 21.4x P/Sales
ratio		 2.4x
P/BV
ratio		 3.2x Div.
yield		 1.6%


  • 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) $8,925
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 156
Wgt avg mkt cap (mns) $49,570
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 7.9 %
RELIANCE INDUSTRIES LTD 6.1 %
ICICI BANK LTD 5.3 %
INFOSYS TECHNOLOGIES LTD 5.1 %
BHARTI AIRTEL LIMITED 3.4 %
TATA CONSULTANCY SVS LTD 2.6 %
MAHINDRA & MAHINDRA LTD. 2.0 %
AXIS BANK LIMITED 1.9 %
BAJAJ FINANCE LIMITED 1.9 %
LARSEN & TOUBRO LIMITED 1.8 %
Total 38.0 %

TOP COUNTRY EXPOSURE
INDIA 93.5 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru February 28)
Year-to-date 1 year 5 years 10 years Since Incep.
-8.6% -6.0% 9.9% 4.9% 5.7%

Market Correlations
versus... Beta R-squared
S&P500 0.57 50%
MSCI EAFE 0.45 31%
MSCI Emg. Mkts. 0.40 25%

Technical Indicators
Recent close $51.56
30d moving avg. $49.63
Annualized volatility 13.9%
Short interest (ETF) 15.9%
Relative strength (RSI) 52

Liquidity measures
Avg. volume (thou.) 6,418
Turnover 3.7%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $1,033

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 137 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™: 4.3%


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 84.5 78 -13 4.3 -0.1
FLIN Franklin FTSE India ETF 80.0 19 46 3.9 -0.4
INDY iShares India 50 ETF 66.7 89 -24 4.6 +0.3
EPI WisdomTree India Earnings Fund 58.2 85 -20 4.7 +0.4
NFTY First Trust India NIFTY 50 Equal Weight ETF 47.8 80 -15 4.8 +0.5
EEMO Invesco S&P Emerging Markets Momentum ETF 39.6 29 36 6.2 +1.9
BKF iShares MSCI BIC ETF 30.1 69 -4 13.0 +8.7
STXE Strive Emerging Markets Ex-China ETF 28.1 32 33 8.2 +3.8
NDIA Global X India Active ETF 27.6 75 -10 4.7 +0.4
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 25.9 32 33 7.0 +2.7
EMXC iShares MSCI Emerging Markets ex China ETF 24.2 25 40 8.0 +3.7
INDF Nifty India Financials ETF 24.0 75 -10 6.6 +2.3
XCNY SPDR S&P Emerging Markets ex-China ETF 23.4 15 50 0.0 -4.3
RNEM First Trust Emerging Markets Equity Select ETF 23.1 75 -10 1.0 -3.3
XC WisdomTree Emerging Markets Ex-China Fund 21.9 32 33 5.5 +1.2
EEMA iShares MSCI Emerging Markets Asia ETF 20.6 49 16 10.7 +6.4
AAXJ iShares MSCI All Country Asia ex Japan ETF 18.8 70 -5 9.8 +5.5
EMMF WisdomTree Emerging Markets Multifactor Fund 18.8 48 17 7.8 +3.5
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 18.7 25 40 6.5 +2.2
JHEM John Hancock Multifactor Emerging Markets ETF 18.6 49 16 10.5 +6.2
LDEM iShares ESG MSCI EM Leaders ETF 18.4 17 48 12.9 +8.5
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 17.7 24 41 8.3 +4.0
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 17.4 40 25 5.6 +1.2
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 17.0 30 35 9.3 +5.0
INCO Columbia India Consumer ETF 16.5 75 -10 1.8 -2.6
FLAX Franklin FTSE Asia Ex Japan ETF 16.4 19 46 10.8 +6.5
EEM iShares MSCI Emerging Markets ETF 16.3 69 -4 10.7 +6.4
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 15.8 32 33 9.6 +5.3
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 15.7 15 50 10.8 +6.4
GMF SPDR S&P Emerging Asia Pacific ETF 15.7 49 16 10.0 +5.7
ESGE iShares ESG Aware MSCI EM ETF 15.7 25 40 10.7 +6.4
NUEM Nuveen ESG Emerging Markets Equity ETF 15.6 36 29 8.1 +3.8
GLIN VanEck India Growth Leaders ETF 15.5 77 -12 6.4 +2.0
VWO Vanguard FTSE Emerging Markets ETF 15.4 8 57 10.9 +6.6
EEMX SPDR MSCI Emerging Markets Fossil Fuel Free ETF 15.4 30 35 10.6 +6.2
ECON Columbia Emerging Markets Consumer ETF 15.3 49 16 12.9 +8.6
BKEM BNY Mellon Emerging Markets Equity ETF 15.2 11 54 11.8 +7.5
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 15.0 36 29 11.2 +6.9
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 14.9 95 -30 13.1 +8.8
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 14.9 66 -1 10.2 +5.8
EMXF iShares ESG Advanced MSCI EM ETF 14.9 16 49 8.4 +4.1
DEHP Dimensional Emerging Markets High Profitability ETF 14.8 41 24 6.5 +2.2
EVLU iShares MSCI Emerging Markets Value Factor ETF 14.5 35 30 21.6 +17.2
EMGF iShares Emerging Markets Equity Factor ETF 14.5 25 40 12.4 +8.1
SCHE Schwab Emerging Markets Equity ETF 14.4 11 54 11.6 +7.2
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 14.4 15 50 8.6 +4.3
IEMG iShares Core MSCI Emerging Markets ETF 14.2 9 56 10.9 +6.6
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 14.1 45 20 11.0 +6.7
EMSG Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF 13.8 20 45 11.3 +7.0
EMDM First Trust Bloomberg Emerging Market Democracies ETF 13.0 75 -10 10.3 +6.0
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 12.7 50 15 11.6 +7.3
SPEM SPDR Portfolio Emerging Markets ETF 12.0 7 58 10.9 +6.6
DGIN VanEck Digital India ETF 11.9 71 -6 2.0 -2.4
AVES Avantis Emerging Markets Value ETF 11.9 36 29 12.2 +7.9
DFAE Dimensional Emerging Core Equity Market ETF 11.7 35 30 10.2 +5.9
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 11.7 33 32 10.6 +6.3
EMM Global X Emerging Markets ex-China ETF 11.4 75 -10 5.0 +0.7
DFEV Dimensional Emerging Markets Value ETF 11.4 43 22 14.5 +10.1
FDEM Fidelity Emerging Markets Multifactor ETF 11.2 25 40 13.5 +9.2
ROAM Hartford Multifactor Emerging Markets ETF 10.9 44 21 11.3 +7.0
MINV Matthews Asia Innovators Active ETF 10.8 79 -14 7.7 +3.4
PXH Invesco FTSE RAFI Emerging Markets ETF 9.9 49 16 16.7 +12.3
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 9.8 44 21 11.0 +6.7
AVEM Avantis Emerging Markets Equity ETF 9.6 33 32 9.7 +5.3
DFEM Dimensional Emerging Markets Core Equity 2 ETF 9.5 38 27 9.9 +5.6
UEVM VictoryShares Emerging Markets Value Momentum ETF 9.4 45 20 11.1 +6.7
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 9.3 88 -23 10.3 +6.0
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 9.2 41 24 9.4 +5.0
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 8.6 39 26 16.9 +12.6
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 8.4 59 6 13.7 +9.4
XCEM Columbia EM Core ex-China ETF 8.3 16 49 8.5 +4.2
EMC Global X Emerging Markets Great Consumer ETF 7.6 75 -10 8.5 +4.1
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 5.7 60 5 8.0 +3.6
IPAV Global X Infrastructure Development ex-U.S. ETF 5.6 55 10 4.5 +0.1
VIGI Vanguard International Dividend Appreciation ETF 5.5 15 50 6.2 +1.9
MEM Matthews Emerging Markets Equity Active ETF 5.3 79 -14 8.5 +4.2
ACWX iShares MSCI ACWI ex U.S. ETF 4.8 34 31 8.1 +3.8
ACWV iShares MSCI Global Min Vol Factor ETF 4.8 20 45 7.6 +3.3
GXUS Goldman Sachs MarketBeta Total International Equity ETF 4.5 18 47 8.1 +3.8
VEU Vanguard FTSE All-World ex-US Index Fund 4.5 8 57 8.5 +4.2
IXUS iShares Core MSCI Total International Stock ETF 4.4 7 58 8.3 +4.0
VXUS Vanguard Total International Stock ETF 4.2 7 58 8.3 +4.0
FILL iShares MSCI Global Energy Producers ETF 4.1 39 26 11.4 +7.1
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 3.9 86 -21 13.7 +9.4
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 3.9 86 -21 0.4 -4.0
INQQ India Internet & Ecommerce ETF 3.9 86 -21 1.1 -3.2
FEM First Trust Emerging Markets AlphaDEX Fund 3.9 80 -15 13.8 +9.5
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 3.9 41 24 7.1 +2.8
CWI SPDR MSCI ACWI ex-US ETF 3.8 30 35 8.2 +3.9
VSGX Vanguard ESG International Stock ETF 3.8 12 53 8.2 +3.9
CGXU Capital Group International Focus Equity ETF 3.6 54 11 5.9 +1.5
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 3.6 42 23 6.8 +2.5
SCHY Schwab International Dividend Equity ETF 3.5 14 51 9.8 +5.5
PICK iShares MSCI Global Metals & Mining Producers ETF 3.4 39 26 14.1 +9.8
NXTG First Trust Indxx NextG ETF 3.3 70 -5 5.8 +1.5
DFAX Dimensional World ex U.S. Core Equity 2 ETF 3.2 30 35 8.6 +4.3
IGRO iShares International Dividend Growth ETF 2.9 15 50 7.3 +3.0
DEM WisdomTree Emerging Markets High Dividend Fund 2.5 63 2 13.6 +9.3
FTAG First Trust Indxx Global Agriculture ETF 2.5 70 -5 8.1 +3.8
IQDF FlexShares International Quality Dividend Index Fund 2.2 47 18 9.5 +5.2
LEGR First Trust Indxx Innovative Transaction & Process ETF 2.2 65 0 8.6 +4.2
EYLD Cambria Emerging Shareholder Yield ETF 2.0 66 -1 13.1 +8.8
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.9 47 18 9.0 +4.6
ACWI iShares MSCI ACWI ETF 1.7 32 33 6.1 +1.8
CRBN iShares MSCI ACWI Low Carbon Target ETF 1.7 20 45 6.3 +2.0
JIG JPMorgan International Growth ETF 1.7 55 10 4.8 +0.5
VNQI Vanguard Global ex-U.S. Real Estate ETF 1.6 12 53 7.7 +3.4
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 1.6 60 5 13.3 +8.9
KNCT Invesco Next Gen Connectivity ETF 1.5 40 25 5.1 +0.7
VT Vanguard Total World Stock ETF 1.5 7 58 6.4 +2.0
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 1.4 46 19 10.4 +6.1
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 1.4 12 53 5.2 +0.8
XT iShares Exponential Technologies ETF 1.4 46 19 5.5 +1.2
KLMT Invesco MSCI Global Climate 500 ETF 1.4 10 55 6.1 +1.8
DVYE iShares Emerging Markets Dividend ETF 1.3 49 16 18.9 +14.6
GTEK Goldman Sachs Future Tech Leaders Equity ETF 1.2 75 -10 3.5 -0.8
SDEM Global X MSCI SuperDividend Emerging Markets ETF 1.2 67 -2 13.3 +9.0
VYMI Vanguard International High Dividend Yield ETF 1.2 22 43 10.0 +5.7
EDIV SPDR S&P Emerging Markets Dividend ETF 1.0 49 16 11.6 +7.3
GLOF iShares Global Equity Factor ETF 1.0 20 45 7.0 +2.7
VEGI iShares MSCI Agriculture Producers ETF 1.0 39 26 8.8 +4.4
DGT SPDR Global Dow ETF 0.9 50 15 8.1 +3.8
SDG iShares MSCI Global Sustainable Development Goals ETF 0.7 49 16 6.0 +1.7
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 0.7 47 18 5.7 +1.3
ADIV SmartETFs Asia Pacific Dividend Builder ETF 0.6 78 -13 9.6 +5.3
CGW Invesco S&P Global Water Index ETF 0.6 57 8 4.8 +0.5
ICLN iShares Global Clean Energy ETF 0.6 41 24 6.4 +2.0
FTRI First Trust Indxx Global Natural Resources Income ETF 0.6 70 -5 8.6 +4.3
DEW WisdomTree Global High Dividend Fund 0.5 58 7 7.7 +3.4
OBOR KraneShares MSCI One Belt One Road Index ETF 0.5 79 -14 7.7 +3.4
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.4 10 55 7.5 +3.2
SAGP Strategas Global Policy Opportunities ETF 0.4 65 0 5.3 +0.9
CGGO Capital Group Global Growth Equity ETF 0.4 47 18 5.0 +0.7
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.3 9 56 6.0 +1.7
IWTR iShares MSCI Water Management Multisector ETF 0.3 47 18 6.5 +2.1
ANEW ProShares MSCI Transformational Changes ETF 0.2 45 20 7.0 +2.7
SMIN iShares MSCI India Small Cap ETF 0.0 79 -14 3.3 -1.0

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 15.7 %
Divided by: Fwd. P/BV 3.2 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 4.3 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.49 CATEGORY
AVERAGE		 1.50
 
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.