Nifty India Financials ETF
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- Description
- Performance
- Comps
- Fundamentals
- Valuation
- Rating
INDF is passively managed to select the top 20 Indian financial services companies by market capitalization. |
Category | Emerging Market Equities |
Fund Sponsor | Exchange Traded Concepts |
Website | www.indiafinancials.com |
Inception date | Oct 20, 2020 |
Assets (mns) | $10 |
Currency | USD |
Expense ratio | 75 bp |
Distributions | Annually |
Regulation | Open-Ended Fund |
Custodian | |
Weighting | Market Cap |
Index replication | |
Uses derivatives | No |
Options available | No |
No. of constituents | 23 |
Wgt avg mkt cap (mns) | $59,554 |
Large cap (>$10bn) | 95.0% |
Mid cap ($2-10bn) | 5.0% |
Small cap (<$2bn) | 0.0% |
Developed mkts | 0.0% |
Emerging mkts | 100.0% |
ICICI BANK LTD | 18.8 % |
HDFC BANK LIMITED | 17.6 % |
AXIS BANK LIMITED | 8.3 % |
SBI LIFE INSURANCE CO. LTD. | 5.2 % |
POWER FINANCE CORPORATION | 5.1 % |
RURAL ELECTRIFICATION CORP | 5.1 % |
HDFC LIFE INSURANCE CO. LTD. | 4.8 % |
STATE BANK OF INDIA | 4.7 % |
KOTAK MAHINDRA BANK LTD | 4.7 % |
BAJAJ FINSERV LTD | 4.5 % | Total | 78.8 % |
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INDIA | 99.7 % |
HISTORICAL PERFORMANCE
Custom date range | Compare to | ||
thru |
Year-to-date | 1 year | 5 years | 10 years | Since Incep. |
9.0% | 21.2% | -- | -- | 10.7% |
versus... | Beta | R-squared |
S&P500 | 0.54 | 38% |
MSCI EAFE | 0.45 | 28% |
MSCI Emg. Mkts. | 0.45 | 27% |
Recent close | $38.05 |
30d moving avg. | $39.73 |
Annualized volatility | 15.1% |
Short interest (ETF) | 0.0% |
Relative strength (RSI) | 47 |
Avg. volume (thou.) | 1 |
Turnover | 0.4% |
Bid/Ask (% of price) | 0.75% |
ADV underlying (mns) | $308 |
FINDING ALTERNATIVE FUNDS
Below is a list of 101 potential alternatives to the Nifty India Financials ETF ETF based on the alternatives' overlap in portfolio holdings with INDF. Consider funds with lower expense ratios and/or higher ALTAR Score™ ratings as possible alternatives.
Benchmark ticker: | INDF | Expense: | 75 bp | ALTAR Score™: | 5.3% |
Ticker | Fund Name |
Overlap1 vs INDF (%) |
Expense ratio (bp) |
Savings vs INDF (bp) |
ALTAR Score™ (%) |
ALTAR vs INDF (%) |
INDY | iShares India 50 ETF | 29.3 | 89 | -14 | 4.6 | -0.7 |
INDA | iShares MSCI India ETF | 20.4 | 65 | 10 | 4.4 | -0.9 |
PIN | Invesco India ETF | 19.4 | 78 | -3 | 4.5 | -0.8 |
NFTY | First Trust India NIFTY 50 Equal Weight ETF | 17.7 | 80 | -5 | 6.3 | +1.0 |
FLIN | Franklin FTSE India ETF | 17.4 | 19 | 56 | 4.7 | -0.6 |
EPI | WisdomTree India Earnings Fund | 16.1 | 85 | -10 | 6.1 | +0.8 |
NDIA | Global X India Active ETF | 14.2 | 75 | 0 | 7.2 | +2.0 |
GLIN | VanEck India Growth Leaders ETF | 9.5 | 77 | -2 | 5.7 | +0.4 |
STXE | Strive Emerging Markets Ex-China ETF | 9.3 | 32 | 43 | 7.0 | +1.8 |
RNEM | First Trust Emerging Markets Equity Select ETF | 9.3 | 75 | 0 | 7.6 | +2.3 |
BKF | iShares MSCI BIC ETF | 8.0 | 69 | 6 | 6.9 | +1.7 |
RFEM | First Trust Riverfront Dynamic Emerging Markets ETF | 6.9 | 95 | -20 | 10.5 | +5.3 |
ECON | Columbia Emerging Markets Consumer ETF | 6.6 | 49 | 26 | 7.3 | +2.1 |
EMXF | iShares ESG Advanced MSCI EM ETF | 6.2 | 16 | 59 | 6.8 | +1.6 |
EQLT | iShares MSCI Emerging Markets Quality Factor ETF | 5.8 | 35 | 40 | 7.4 | +2.1 |
EMXC | iShares MSCI Emerging Markets ex China ETF | 5.7 | 25 | 50 | 6.7 | +1.4 |
KEMX | KraneShares MSCI Emerging Markets EX China Index ETF | 5.7 | 24 | 51 | 9.2 | +4.0 |
XCNY | SPDR S&P Emerging Markets ex-China ETF | 5.6 | 15 | 60 | 6.3 | +1.0 |
MINV | Matthews Asia Innovators Active ETF | 5.5 | 79 | -4 | 3.0 | -2.3 |
EEMA | iShares MSCI Emerging Markets Asia ETF | 5.2 | 49 | 26 | 6.5 | +1.3 |
XC | WisdomTree Emerging Markets Ex-China Fund | 5.1 | 32 | 43 | 6.0 | +0.7 |
EMDM | First Trust Bloomberg Emerging Market Democracies ETF | 5.0 | 75 | 0 | 8.2 | +3.0 |
ESGE | iShares ESG Aware MSCI EM ETF | 4.9 | 25 | 50 | 7.1 | +1.9 |
AAXJ | iShares MSCI All Country Asia ex Japan ETF | 4.8 | 70 | 5 | 6.2 | +0.9 |
JHEM | John Hancock Multifactor Emerging Markets ETF | 4.8 | 49 | 26 | 8.2 | +2.9 |
EEMX | SPDR MSCI Emerging Markets Fossil Fuel Free ETF | 4.7 | 30 | 45 | 7.3 | +2.0 |
JEMA | JPMorgan ActiveBuilders Emerging Markets Equity ETF | 4.5 | 33 | 42 | 8.2 | +3.0 |
FMQQ | FMQQ The Next Frontier Internet & Ecommerce ETF | 4.4 | 86 | -11 | 1.2 | -4.0 |
INQQ | India Internet & Ecommerce ETF | 4.4 | 86 | -11 | 2.6 | -2.7 |
BBEM | JPMorgan BetaBuilders Emerging Markets Equity ETF | 4.4 | 15 | 60 | 7.2 | +2.0 |
GSEE | Goldman Sachs MarketBeta Emerging Markets Equity ETF | 4.3 | 36 | 39 | 7.8 | +2.6 |
FLAX | Franklin FTSE Asia Ex Japan ETF | 4.3 | 19 | 56 | 6.9 | +1.6 |
BKEM | BNY Mellon Emerging Markets Equity ETF | 4.2 | 11 | 64 | 8.4 | +3.1 |
EEM | iShares MSCI Emerging Markets ETF | 4.2 | 69 | 6 | 6.9 | +1.6 |
GMF | SPDR S&P Emerging Asia Pacific ETF | 4.1 | 49 | 26 | 6.1 | +0.9 |
RAYE | Rayliant Quantamental Emerging Market ex-China Equity ETF | 4.0 | 88 | -13 | 7.4 | +2.2 |
LDEM | iShares ESG MSCI EM Leaders ETF | 3.9 | 17 | 58 | 7.6 | +2.4 |
DBEM | Xtrackers MSCI Emerging Markets Hedged Equity ETF | 3.8 | 66 | 9 | 10.0 | +4.7 |
VWO | Vanguard FTSE Emerging Markets ETF | 3.7 | 8 | 67 | 6.9 | +1.7 |
IEMG | iShares Core MSCI Emerging Markets ETF | 3.7 | 9 | 66 | 7.5 | +2.2 |
EMGF | iShares Emerging Markets Equity Factor ETF | 3.6 | 25 | 50 | 8.5 | +3.2 |
MEM | Matthews Emerging Markets Equity Active ETF | 3.6 | 79 | -4 | 5.4 | +0.2 |
EMCR | Xtrackers Emerging Markets Carbon Reduction and Climate Impr | 3.4 | 15 | 60 | 10.2 | +5.0 |
EMQQ | EMQQ The Emerging Markets Internet & Ecommerce ETF | 3.2 | 86 | -11 | 1.6 | -3.6 |
XSOE | WisdomTree Emerging Markets ex-State-Owned Enterprises Fund | 3.0 | 32 | 43 | 6.2 | +1.0 |
NUEM | Nuveen ESG Emerging Markets Equity ETF | 3.0 | 36 | 39 | 6.5 | +1.2 |
SPEM | SPDR Portfolio Emerging Markets ETF | 2.9 | 7 | 68 | 7.3 | +2.1 |
GEM | Goldman Sachs ActiveBeta Emerging Markets Equity ETF | 2.8 | 45 | 30 | 11.0 | +5.7 |
TLTE | FlexShares Morningstar Emerging Markets Factor Tilt Index | 2.7 | 59 | 16 | 11.3 | +6.0 |
EMSG | Xtrackers MSCI Emerging Markets ESG Leaders Equity ETF | 2.7 | 20 | 55 | 6.8 | +1.5 |
AVES | Avantis Emerging Markets Value ETF | 2.6 | 36 | 39 | 11.6 | +6.3 |
SCHE | Schwab Emerging Markets Equity ETF | 2.6 | 11 | 64 | 7.1 | +1.9 |
FDEM | Fidelity Emerging Markets Multifactor ETF | 2.6 | 25 | 50 | 12.3 | +7.1 |
DFEV | Dimensional Emerging Markets Value ETF | 2.3 | 43 | 32 | 11.1 | +5.8 |
PXH | Invesco FTSE RAFI Emerging Markets ETF | 2.3 | 49 | 26 | 12.2 | +7.0 |
EEMO | Invesco S&P Emerging Markets Momentum ETF | 2.2 | 29 | 46 | 5.5 | +0.3 |
UEVM | VictoryShares Emerging Markets Value Momentum ETF | 2.2 | 45 | 30 | 12.3 | +7.1 |
AVEM | Avantis Emerging Markets Equity ETF | 2.1 | 33 | 42 | 8.9 | +3.6 |
CGXU | Capital Group International Focus Equity ETF | 1.9 | 54 | 21 | 4.9 | -0.4 |
DFAE | Dimensional Emerging Core Equity Market ETF | 1.9 | 35 | 40 | 7.3 | +2.1 |
IQDE | FlexShares International Quality Dividend Defensive Index ET | 1.8 | 47 | 28 | 14.8 | +9.6 |
EVLU | iShares MSCI Emerging Markets Value Factor ETF | 1.5 | 35 | 40 | 12.4 | +7.2 |
QLVE | FlexShares Emerging Markets Quality Low Volatility Index Fun | 1.5 | 40 | 35 | 8.3 | +3.0 |
LEGR | First Trust Indxx Innovative Transaction & Process ETF | 1.4 | 65 | 10 | 8.2 | +2.9 |
VSGX | Vanguard ESG International Stock ETF | 1.4 | 12 | 63 | 6.8 | +1.5 |
MFEM | PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF | 1.4 | 50 | 25 | 13.0 | +7.7 |
XCEM | Columbia EM Core ex-China ETF | 1.3 | 16 | 59 | 7.7 | +2.5 |
DFEM | Dimensional Emerging Markets Core Equity 2 ETF | 1.3 | 38 | 37 | 7.8 | +2.6 |
GXUS | Goldman Sachs MarketBeta Total International Equity ETF | 1.3 | 18 | 57 | 7.0 | +1.8 |
ACWX | iShares MSCI ACWI ex U.S. ETF | 1.3 | 34 | 41 | 7.0 | +1.7 |
QEMM | SPDR MSCI Emerging Markets StrategicFactors ETF | 1.2 | 30 | 45 | 8.1 | +2.9 |
EEMV | iShares MSCI Emerging Markets Min Vol Factor ETF | 1.2 | 25 | 50 | 6.6 | +1.4 |
FNDE | Schwab Fundamental Emerging Markets Large Co. Index ETF | 1.2 | 39 | 36 | 12.5 | +7.2 |
VEU | Vanguard FTSE All-World ex-US Index Fund | 1.2 | 8 | 67 | 7.3 | +2.0 |
IXUS | iShares Core MSCI Total International Stock ETF | 1.1 | 7 | 68 | 7.2 | +1.9 |
DBAW | Xtrackers MSCI All World ex US Hedged Equity ETF | 1.1 | 41 | 34 | 7.4 | +2.2 |
CGGO | Capital Group Global Growth Equity ETF | 1.1 | 47 | 28 | 4.6 | -0.7 |
VXUS | Vanguard Total International Stock ETF | 1.1 | 7 | 68 | 7.2 | +1.9 |
IQDF | FlexShares International Quality Dividend Index Fund | 1.0 | 47 | 28 | 12.9 | +7.6 |
IQDY | FlexShares International Quality Dividend Dynamic Index Fund | 1.0 | 47 | 28 | 9.4 | +4.1 |
ROAM | Hartford Multifactor Emerging Markets ETF | 1.0 | 44 | 31 | 15.8 | +10.5 |
CWI | SPDR MSCI ACWI ex-US ETF | 0.9 | 30 | 45 | 6.9 | +1.7 |
DFSE | Dimensional Emerging Markets Sustainability Core 1 ETF | 0.9 | 41 | 34 | 7.4 | +2.2 |
SMIN | iShares MSCI India Small Cap ETF | 0.8 | 79 | -4 | 3.5 | -1.8 |
DGRE | WisdomTree Emerging Markets Quality Dividend Growth Fund | 0.5 | 32 | 43 | 6.9 | +1.6 |
DEHP | Dimensional Emerging Markets High Profitability ETF | 0.5 | 41 | 34 | 5.0 | -0.3 |
KLMT | Invesco MSCI Global Climate 500 ETF | 0.5 | 10 | 65 | 5.4 | +0.2 |
FEM | First Trust Emerging Markets AlphaDEX Fund | 0.5 | 80 | -5 | 13.0 | +7.8 |
EMMF | WisdomTree Emerging Markets Multifactor Fund | 0.5 | 48 | 27 | 8.8 | +3.5 |
ACWI | iShares MSCI ACWI ETF | 0.4 | 32 | 43 | 5.3 | +0.0 |
GLOF | iShares Global Equity Factor ETF | 0.4 | 20 | 55 | 7.0 | +1.8 |
JPEM | JPMorgan Diversified Return Emerging Markets Equity ETF | 0.4 | 44 | 31 | 10.6 | +5.4 |
VT | Vanguard Total World Stock ETF | 0.4 | 7 | 68 | 5.5 | +0.3 |
DFAX | Dimensional World ex U.S. Core Equity 2 ETF | 0.4 | 30 | 45 | 8.0 | +2.7 |
NZAC | SPDR MSCI ACWI Climate Paris Aligned ETF | 0.3 | 12 | 63 | 4.8 | -0.5 |
EEMS | iShares MSCI Emerging Markets Small Cap ETF | 0.2 | 70 | 5 | 7.7 | +2.5 |
FEEM | FlexShares ESG & Climate Emerging Markets Core Index ETF | 0.2 | 18 | 57 | 6.8 | +1.6 |
CRBN | iShares MSCI ACWI Low Carbon Target ETF | 0.2 | 20 | 55 | 5.2 | -0.1 |
DNL | WisdomTree Global ex-US Quality Dividend Growth Fund | 0.1 | 42 | 33 | 8.1 | +2.8 |
VYMI | Vanguard International High Dividend Yield ETF | 0.1 | 22 | 53 | 9.8 | +4.6 |
SPGM | SPDR Portfolio MSCI Global Stock Market ETF | 0.1 | 9 | 66 | 5.4 | +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
2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | |
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Sales per share | ** | ** | ** | ** | ** | ** | ** |
Earnings per share | ** | ** | ** | ** | ** | ** | ** |
Dividends per share | ** | ** | ** | ** | ** | ** | ** |
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 |
*Six months ago = 100 |
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VALUATION METRICS
2023 | 2024E | 2025E | |
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Price-to-sales | ** | ** | ** |
Price-to-earnings | ** | ** | ** |
Price-to-cash flow | ** | ** | ** |
Price-to-growth | ** | ** | ** |
Price-to-book value | ** | ** | ** |
Yield | ** | ** | ** |
Historical valuation trends
Forward multiple: |
Nifty India Financials ETF | |||
Relative to: |
S&P500 | MSCI EAFE | MSCI Emg. Mkts. | Other ETF: |
UNDERWEIGHT |
Below average appreciation potential. A rating of UNDERWEIGHT is assigned to ETFs with ALTAR Scores in the 2nd quintile (ranking higher than only 20%-40%) of their category. Typically, funds in this category consist of stocks trading at relatively expensive valuations and/or having below-average fundamentals. |
ALTAR Score™
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MODERN PORTFOLIO THEORY
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CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
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