INDF vs SPY
Range India Financials ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | INDF | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.09% | |
| AUM | $9M | $789.1B | |
| Dividend Yield | 5.62% | 1.01% | |
| Holdings | 21 | 505 | |
| YTD Return | -12.12% | +13.79% | |
| 1Y Return | -20.35% | +23.66% | |
| 3Y Return (annualized) | +2.45% | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 20.3% | 15.3% | |
| Max Drawdown | -25.6% | -56.5% | |
| Fund Family | NextFins LLC | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Oct 20, 2020 | Jan 22, 1993 |
INDF vs SPY Performance
Range India Financials ETF (INDF) is a ETF from NextFins LLC and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year INDF returned -20.35% while SPY returned +23.66%. Year to date, INDF is down 12.12% versus a gain of 13.79% for SPY.
Over three years, INDF compounded at +2.45% per year against +21.40% for SPY. Across the full 5-year window we track, SPY has the edge at +8.85% annualized vs +7.30%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
INDF has been the more volatile fund, with annualized monthly volatility of 20.3% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -25.6% for INDF and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.42. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
INDF charges 0.75% per year while SPY charges 0.09%. On a $10,000 position that is $75 vs $9 annually, a gap of $66 per year that compounds over a long holding period. On income, INDF currently yields 5.62% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, INDF or SPY?
INDF has an expense ratio of 0.75% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $66 per year of difference.
Which performed better, INDF or SPY?
Over the past year INDF returned -20.35% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (5 years), INDF annualized +7.30% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, INDF or SPY?
INDF has been the more volatile fund at 20.3% annualized versus 15.3% for SPY. Worst drawdown: INDF -25.6% vs SPY -56.5%.
Should I hold both INDF and SPY?
INDF and SPY have a monthly-return correlation of 0.42, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, INDF or SPY?
INDF yields 5.62% while SPY yields 1.01%, so INDF currently pays the higher dividend yield.
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