INDY
iShares India 50 ETF
iShares S&P India Nifty 50 Index Fund investment results that correspond to the price and yield performance of the S&P CNX Nifty Index.
Emerging Market
EQUITY
Passive
MANAGEMENT STYLE
688.0 M
ASSETS UNDER MGMT
89 bp
EXPENSES
Fund Basics
| Fund sponsor | BlackRock Fund Advisors |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Nov 18, 2009 |
| Assets (mns) | $688 |
| Expense ratio | 89 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Semi-Annually |
| Taxation | 1099 |
| Stock selection | Market Cap |
| Weighting | Market Cap |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | Yes |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| HDFC BANK LIMITED | 13.0 % |
| RELIANCE INDUSTRIES LTD | 8.8 % |
| ICICI BANK LTD | 8.2 % |
| BHARTI AIRTEL LIMITED | 4.8 % |
| INFOSYS TECHNOLOGIES LTD | 4.7 % |
| LARSEN & TOUBRO LIMITED | 4.0 % |
| STATE BANK OF INDIA | 3.4 % |
| ITC LTD | 3.3 % |
| AXIS BANK LIMITED | 3.1 % |
| MAHINDRA & MAHINDRA LTD. | 2.7 % |
Constituent Breakdown
| Number of holdings | 50 |
| Herfindahl-Hirschman Index | 472 |
| Wgt avg mkt cap (mns) | $73,084 |
| Large cap (>$10bn) | 87.6% |
| Mid cap ($2-10bn) | 0.0% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 93.7% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
INDIA | 94.5 % |
Historical Performance
Standardized Performance (as of 11/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 5.8% | 1.6% | 7.7% | 5.0% | 6.6% | 7.0% | -- | 4.9% |
| Dividend Yield | 0.0% | 0.0% | 0.2% | 1.4% | 2.4% | 1.4% | -- | 1.1% |
| Total Returns | 5.8% | 1.6% | 7.9% | 6.5% | 9.0% | 8.4% | -- | 6.0% | Ann. Volatility | 13.1% | 12.9% | 13.3% | 12.4% | 15.4% | 19.8% | -- | 22.4% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.31 | 22% |
| MSCI EAFE | 0.40 | 26% |
| MSCI Emg Mkts | 0.40 | 30% |
Liquidity Measures
| Avg. volume (000) | 70 |
| ADV traded (mns) | $4 |
| Turnover | 0.5% |
| Avg. Bid/Ask (% of price) | 0.17% |
Technical Indicators
| 30d moving avg. (EMA) | $53.19 |
| Relative strength (RSI) | 56 |
| MACD/Signal | 0.24/0.23 |
| Bollinger Bands (Upper/Lower) | $54.04/$52.51 |
| Short interest (% of AUM) | 0.6% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. INDY |
Expenses vs. INDY |
ALTAR Score™ vs. INDY |
|---|---|---|---|---|
| INDA | iShares MSCI India ETF | 64.3% | -24 bp | +4.5% |
| PIN | Invesco India ETF | 61.4% | -11 bp | +4.6% |
| NFTY | First Trust India NIFTY 50 Equal Weight ETF | 58.0% | -9 bp | +4.8% |
| FLIN | Franklin FTSE India ETF | 54.4% | -70 bp | +3.9% |
| EPI | WisdomTree India Earnings Fund | 47.5% | -4 bp | +4.8% |
| NDIA | Global X India Active ETF | 35.0% | -14 bp | +5.3% |
| INDF | Nifty India Financials ETF | 29.8% | -14 bp | +6.6% |
| RNEM | First Trust Emerging Markets Equity Select ETF | 22.9% | -14 bp | +8.4% |
| STXE | Strive Emerging Markets Ex-China ETF | 21.7% | -57 bp | +7.4% |
| BKF | iShares MSCI BIC ETF | 19.9% | -20 bp | +13.1% |
Risk and Returns: INDY vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2024 | 2025 | 2026 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 12/7/2025
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
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 be less relevant.
ALTAR Score™
INDY
4.9%
Cat. Avg
7.7%
ALTAR Score™ Calculation
Category Overview
There are 126 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.7% and a standard deviation of
2.7%. INDY's ALTAR Score™ is approximately
1.1 standard deviations
below
the category average. This places INDY in the 15th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
INDYSELL
U/W
HOLD
O/W
BUY