NDIA
Global X India Active ETF
NDIA is an actively managed ETF offering exposure to the Indian Economy. NDIA screens for companies with quality business models and management teams across India, focusing on domestic-driven growth over a 4-5 year investing horizon.
Emerging Market
EQUITY
Active
MANAGEMENT STYLE
$ 54.1 M
ASSETS UNDER MGMT
75 bp
EXPENSES
Fund Basics
| Inception date | Aug 17, 2023 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| HDFC BANK LIMITED | 8.0 % |
| RELIANCE INDS-SPONS GDR 144A | 7.8 % |
| ICICI BANK LTD-SPON ADR | 7.4 % |
| AXIS BANK LIMITED | 5.5 % |
| BHARTI AIRTEL LIMITED | 5.4 % |
| LARSEN & TOUBRO LIMITED | 4.4 % |
| APOLLO HOSPITALS ENTERPRISE | 4.3 % |
| ULTRATECH CEMENT LTD | 4.2 % |
| INFOSYS TECHNOLOGIES-SP ADR | 3.9 % |
| TITAN INDUSTRIES LIMITED | 3.6 % |
Constituent Breakdown
| Number of holdings | 30 |
| Herfindahl-Hirschman Index | 434 |
| Wgt avg mkt cap (mns) | $45,142 |
| Large cap (>$10bn) | 73.1% |
| Mid cap ($2-10bn) | 15.2% |
| Small cap (<$2bn) | 0.0% |
| Developed mkts. | 2.0% |
| Emerging mkts. | 98.1% |
Sector Breakdown
Country Exposure
 |
INDIA | 100.0 % |
Historical Performance
Standardized Performance (as of 04/30/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -8.2% | -7.0% | -3.1% | -- | -- | -- | -- | 3.4% |
| Dividend Yield | 0.0% | 1.0% | 2.3% | -- | -- | -- | -- | 1.9% |
| Total Returns | -8.2% | -6.0% | -0.8% | -- | -- | -- | -- | 5.3% | Ann. Volatility | 20.9% | 16.0% | 16.5% | -- | -- | -- | -- | 15.5% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.62 | 23% |
| MSCI EAFE | 0.62 | 31% |
| MSCI Emg Mkts | 0.52 | 36% |
Liquidity Measures
| Avg. volume (000) | 4 |
| ADV traded (mns) | $0 |
| Turnover | 0.2% |
| Avg. Bid/Ask (% of price) | 0.71% |
Technical Indicators
| 30d moving avg. (EMA) | $27.36 |
| Relative strength (RSI) | 49 |
| MACD/Signal | 0.01/0.01 |
| Bollinger Bands (Upper/Lower) | $28.34/$26.75 |
| Short interest (% of AUM) | 0.2% |
Distributions
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. NDIA |
Expenses vs. NDIA |
ALTAR Score™ vs. NDIA |
|---|---|---|---|---|
| INDY | iShares India 50 ETF | 36.4% | +14 bp | +0.0% |
| NFTY | First Trust India NIFTY 50 Equal Weight ETF | 30.4% | +5 bp | -0.1% |
| INDA | iShares MSCI India ETF | 27.1% | -10 bp | -0.6% |
| PIN | Invesco India ETF | 26.4% | +3 bp | -0.5% |
| FLIN | Franklin FTSE India ETF | 25.0% | -56 bp | -1.2% |
| EPI | WisdomTree India Earnings Fund | 17.7% | +10 bp | -0.3% |
| INCO | Columbia India Consumer ETF | 16.1% | 0 bp | -2.8% |
| DGIN | VanEck Digital India ETF | 15.1% | -4 bp | -3.2% |
| RNEM | First Trust Emerging Markets Equity Select ETF | 13.9% | 0 bp | +2.8% |
| EMC | Global X Emerging Markets Great Consumer ETF | 12.6% | 0 bp | +2.3% |
Risk and Returns: NDIA 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 (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| 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 | 2025 | 2026 | 2027 | |
| 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 5/14/2026
Peer Group Comparison
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Historical Valuation Trends Sample data. Subscribe for access.
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
5.7%
ALTAR SCORE™
22nd
PERCENTILE
UNDERWEIGHT
ETFRC RATING
There are 203 funds in the Emerging Equity category with an average
ALTAR Score™ of 7.5% and a standard deviation
of 2.2%. NDIA's ALTAR Score™ is approximately -0.8 standard
deviations above the category average. This places NDIA in the 22nd percentile
among funds in the category.
Sell-Side Consensus
$35.11
PRICE TARGET
+33.7%
UPSIDE
Bid/Ask Spreads
71 bp
AVG SPREAD
29 —
173 bp
RANGE