iShares MSCI India ETF
ALTAR
Score™		 4.4% info Recommen-
dation		 AVOID
2025E    2026E
P/E
ratio		 23.1x P/Sales
ratio		 2.4x
P/BV
ratio		 3.1x 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) $6,655
Currency USD
Expense ratio 65 bp
Distributions Semi-annual

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 168
Wgt avg mkt cap (mns) $52,507
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 6.6 %
RELIANCE INDUSTRIES LTD 6.3 %
ICICI BANK LTD 5.7 %
BHARTI AIRTEL LIMITED 4.0 %
INFOSYS TECHNOLOGIES LTD 2.5 %
AXIS BANK LIMITED 2.1 %
MAHINDRA & MAHINDRA LTD. 2.1 %
BAJAJ FINANCE LTD 2.0 %
LARSEN & TOUBRO LIMITED 2.0 %
KOTAK MAHINDRA BANK LTD 1.6 %
Total 34.8 %

TOP COUNTRY EXPOSURE
INDIA 87.6 %










HISTORICAL PERFORMANCE info

  Custom date range Compare to  
  thru


Standardized Annual Returns (thru July 31)
Year-to-date 1 year 5 years 10 years Since Incep.
-7.9% -5.4% 3.5% 6.4% 5.4%

Market Correlations
versus... Beta R-squared
S&P500 0.61 27%
MSCI EAFE 0.58 36%
MSCI Emg. Mkts. 0.35 31%

Technical Indicators
Recent close $50.53
30d moving avg. $49.09
Annualized volatility 13.0%
Short interest (ETF) 12.4%
Relative strength (RSI) 54

Liquidity measures
Avg. volume (thou.) 6,000
Turnover 4.6%
Bid/Ask (% of price) 0.02%
ADV underlying (mns) $1,033

Distributions


FINDING ALTERNATIVE FUNDS

Below is a list of 140 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™: 4.4%


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
(%)
FLIN Franklin FTSE India ETF 59.2 19 46 4.0 -0.4
EPI WisdomTree India Earnings Fund 44.3 85 -20 5.0 +0.6
NFTY First Trust India NIFTY 50 Equal Weight ETF 43.0 80 -15 4.8 +0.3
NDIA Global X India Active ETF 28.3 75 -10 4.9 +0.5
BKF iShares MSCI BIC ETF 27.5 69 -4 14.4 +9.9
XC WisdomTree Emerging Markets Ex-China Fund 23.9 32 33 6.3 +1.9
RNEM First Trust Emerging Markets Equity Select ETF 18.5 75 -10 7.7 +3.3
PIN Invesco India ETF 18.4 78 -13 5.4 +1.0
VEXC Vanguard Emerging Markets Ex-China ETF 17.2 7 58 5.6 +1.2
XCNY SPDR S&P Emerging Markets ex-China ETF 15.6 15 50 5.6 +1.2
INCO Columbia India Consumer ETF 14.8 75 -10 2.0 -2.4
EEMA iShares MSCI Emerging Markets Asia ETF 14.0 49 16 7.5 +3.0
RFEM First Trust Riverfront Dynamic Emerging Markets ETF 13.5 95 -30 9.7 +5.2
EEMV iShares MSCI Emerging Markets Min Vol Factor ETF 13.5 25 40 6.0 +1.6
DGRE WisdomTree Emerging Markets Quality Dividend Growth Fund 13.4 32 33 4.7 +0.3
QLVE FlexShares Emerging Markets Quality Low Volatility Index Fun 12.9 40 25 6.2 +1.7
EMXC iShares MSCI Emerging Markets ex China ETF 12.6 25 40 5.1 +0.7
EMDM First Trust Bloomberg Emerging Market Democracies ETF 12.3 75 -10 6.3 +1.9
JHEM John Hancock Multifactor Emerging Markets ETF 12.2 49 16 7.5 +3.1
GLIN VanEck India Growth Leaders ETF 12.0 77 -12 5.3 +0.9
EVLU iShares MSCI Emerging Markets Value Factor ETF 11.9 35 30 9.9 +5.5
EMMF WisdomTree Emerging Markets Multifactor Fund 11.8 48 17 8.6 +4.1
STXE Strive Emerging Markets Ex-China ETF 11.7 32 33 5.2 +0.8
GMF SPDR S&P Emerging Asia Pacific ETF 11.5 49 16 8.5 +4.1
KEMX KraneShares MSCI Emerging Markets EX China Index ETF 11.3 24 41 5.2 +0.8
VWO Vanguard FTSE Emerging Markets ETF 11.3 7 58 9.0 +4.6
QEMM SPDR MSCI Emerging Markets StrategicFactors ETF 11.2 30 35 7.5 +3.0
AAXJ iShares MSCI All Country Asia ex Japan ETF 11.1 70 -5 6.9 +2.5
SCHE Schwab Emerging Markets Equity ETF 10.3 11 54 9.3 +4.8
HEEM iShares Currency Hedged MSCI Emerging Markets ETF 10.0 69 -4 7.6 +3.1
EEM iShares MSCI Emerging Markets ETF 10.0 69 -4 7.8 +3.4
FLAX Franklin FTSE Asia Ex Japan ETF 9.9 19 46 7.1 +2.7
NUEM Nuveen ESG Emerging Markets Equity ETF 9.9 36 29 5.9 +1.5
BBEM JPMorgan BetaBuilders Emerging Markets Equity ETF 9.7 15 50 8.0 +3.5
XSOE WisdomTree Emerging Markets ex-State-Owned Enterprises Fund 9.5 32 33 7.5 +3.0
EEMX SPDR MSCI Emerging Markets Fossil Fuel Reserves Free ETF 9.3 30 35 7.9 +3.5
ECON Columbia Emerging Markets Consumer ETF 9.2 49 16 6.6 +2.2
LDEM iShares ESG MSCI EM Leaders ETF 9.1 17 48 12.5 +8.1
DEHP Dimensional Emerging Markets High Profitability ETF 9.0 41 24 4.8 +0.4
EMGF iShares Emerging Markets Equity Factor ETF 8.8 25 40 8.9 +4.5
SPEM SPDR Portfolio Emerging Markets ETF 8.8 7 58 9.4 +4.9
GSEE Goldman Sachs MarketBeta Emerging Markets Equity ETF 8.8 36 29 7.5 +3.1
IEMG iShares Core MSCI Emerging Markets ETF 8.8 9 56 8.2 +3.8
BKEM BNY Mellon Emerging Markets Equity ETF 8.7 11 54 24.0 +19.6
AVXC Avantis Emerging Markets Ex-China Equity ETF 8.5 33 32 6.1 +1.7
XCEM Columbia EM Core ex-China ETF 8.5 16 49 5.0 +0.5
GEM Goldman Sachs ActiveBeta Emerging Markets Equity ETF 8.5 45 20 8.0 +3.6
DBEM Xtrackers MSCI Emerging Markets Hedged Equity ETF 8.5 66 -1 7.3 +2.9
EMXF iShares ESG Advanced MSCI EM ETF 8.3 16 49 6.6 +2.1
FNDE Schwab Fundamental Emerging Markets Large Co. Index ETF 8.2 39 26 13.3 +8.9
ESGE iShares ESG Aware MSCI EM ETF 8.2 25 40 8.2 +3.8
RAYE Rayliant Quantamental Emerging Market ex-China Equity ETF 8.2 88 -23 8.4 +4.0
ROAM Hartford Multifactor Emerging Markets ETF 8.0 44 21 7.5 +3.1
DFAE Dimensional Emerging Core Equity Market ETF 7.8 35 30 7.0 +2.5
IPAV Global X Infrastructure Development ex-U.S. ETF 7.6 55 10 5.8 +1.4
DFEV Dimensional Emerging Markets Value ETF 7.4 43 22 9.4 +5.0
PXH Invesco FTSE RAFI Emerging Markets ETF 7.2 49 16 13.1 +8.7
DEXC Dimensional Emerging Markets ex China Core EquityETF 7.0 53 12 5.1 +0.7
AVES Avantis Emerging Markets Value ETF 6.9 36 29 9.0 +4.6
AVEM Avantis Emerging Markets Equity ETF 6.9 33 32 7.0 +2.6
EMCR Xtrackers Emerging Markets Carbon Reduction and Climate Impr 6.8 15 50 8.8 +4.4
EMC Global X Emerging Markets Great Consumer ETF 6.8 75 -10 7.1 +2.7
DGIN VanEck Digital India ETF 6.6 71 -6 1.3 -3.1
DFSE Dimensional Emerging Markets Sustainability Core 1 ETF 6.2 41 24 6.9 +2.4
DFEM Dimensional Emerging Markets Core Equity 2 ETF 6.2 38 27 7.0 +2.6
FDEM Fidelity Emerging Markets Multifactor ETF 6.0 25 40 10.4 +5.9
JPEM JPMorgan Diversified Return Emerging Markets Equity ETF 6.0 44 21 9.3 +4.8
AVSE Avantis Responsible Emerging Markets Equity ETF 5.9 33 32 6.6 +2.2
JADE JPMorgan Active Developing Markets Equity ETF 5.3 65 0 5.9 +1.5
TLTE FlexShares Morningstar Emerging Markets Factor Tilt Index 5.2 59 6 8.5 +4.1
JEMA JPMorgan ActiveBuilders Emerging Markets Equity ETF 5.2 33 32 6.7 +2.3
SCHY Schwab International Dividend Equity ETF 4.2 14 51 8.1 +3.7
MFEM PIMCO RAFI Dynamic Multi-Factor Emerging Markets Equity ETF 4.2 50 15 8.2 +3.8
UEVM VictoryShares Emerging Markets Value Momentum ETF 4.1 45 20 9.4 +5.0
PICK iShares MSCI Global Metals & Mining Producers ETF 3.9 39 26 8.1 +3.6
ACWV iShares MSCI Global Min Vol Factor ETF 3.6 20 45 5.6 +1.2
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund 3.6 47 18 5.0 +0.5
EMDV ProShares MSCI Emerging Markets Dividend Growers ETF 3.5 60 5 6.4 +2.0
NXTG First Trust Indxx NextG ETF 3.4 70 -5 3.5 -0.9
ACWX iShares MSCI ACWI ex U.S. ETF 3.3 34 31 6.2 +1.8
FEM First Trust Emerging Markets AlphaDEX Fund 3.3 80 -15 8.8 +4.4
VEU Vanguard FTSE All-World ex-US Index Fund 3.2 4 61 6.5 +2.1
VXUS Vanguard Total International Stock ETF 3.0 5 60 6.5 +2.1
VIGI Vanguard International Dividend Appreciation ETF 3.0 10 55 5.8 +1.4
IXUS iShares Core MSCI Total International Stock ETF 2.9 7 58 6.4 +2.0
GXUS Goldman Sachs MarketBeta Total International Equity ETF 2.9 18 47 6.2 +1.8
DEM WisdomTree Emerging Markets High Dividend Fund 2.8 63 2 10.2 +5.7
FTAG First Trust Indxx Global Agriculture ETF 2.7 70 -5 7.0 +2.6
VSGX Vanguard ESG International Stock ETF 2.6 10 55 6.4 +2.0
DBAW Xtrackers MSCI All World ex US Hedged Equity ETF 2.4 41 24 5.8 +1.4
CWI SPDR MSCI ACWI ex-US ETF 2.4 30 35 6.3 +1.9
DFAX Dimensional World ex U.S. Core Equity 2 ETF 2.3 30 35 6.3 +1.9
JIVE JPMorgan International Value ETF 2.2 55 10 7.9 +3.5
EYLD Cambria Emerging Shareholder Yield ETF 2.1 66 -1 9.0 +4.6
CGXU Capital Group International Focus Equity ETF 1.8 54 11 3.7 -0.7
LEGR First Trust Indxx Innovative Transaction & Process ETF 1.8 65 0 7.1 +2.7
EEMO Invesco S&P Emerging Markets Momentum ETF 1.7 29 36 6.8 +2.3
IGRO iShares International Dividend Growth ETF 1.4 15 50 6.5 +2.1
EMQQ EMQQ The Emerging Markets Internet & Ecommerce ETF 1.3 86 -21 12.3 +7.9
INQQ India Internet & Ecommerce ETF 1.3 86 -21 0.5 -3.9
FMQQ FMQQ The Next Frontier Internet & Ecommerce ETF 1.3 86 -21 0.2 -4.2
SDEM Global X MSCI SuperDividend Emerging Markets ETF 1.2 67 -2 12.2 +7.8
ACWI iShares MSCI ACWI ETF 1.2 32 33 4.5 +0.1
VYMI Vanguard International High Dividend Yield ETF 1.2 17 48 7.7 +3.2
IQDY FlexShares International Quality Dividend Dynamic Index Fund 1.1 47 18 7.0 +2.6
VNQI Vanguard Global ex-U.S. Real Estate ETF 1.1 12 53 8.4 +4.0
VT Vanguard Total World Stock ETF 1.1 6 59 4.9 +0.5
CRBN iShares MSCI ACWI Low Carbon Target ETF 1.1 20 45 4.6 +0.2
VEGI iShares MSCI Agriculture Producers ETF 1.1 39 26 7.6 +3.2
JIG JPMorgan International Growth ETF 1.1 55 10 3.6 -0.8
IQDF FlexShares International Quality Dividend Index Fund 1.1 47 18 7.3 +2.9
AQLT iShares MSCI Global Quality Factor ETF 1.0 18 47 0.0 -4.4
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF 1.0 60 5 8.7 +4.3
DNL WisdomTree Global ex-US Quality Dividend Growth Fund 1.0 42 23 4.0 -0.5
SDG iShares MSCI Global Sustainable Development Goals ETF 0.9 49 16 4.5 +0.0
NZAC SPDR MSCI ACWI Climate Paris Aligned ETF 0.9 12 53 4.3 -0.1
DGT State Street SPDR Global Dow ETF 0.8 50 15 5.5 +1.1
GLOF iShares Global Equity Factor ETF 0.8 20 45 5.4 +1.0
GUNR FlexShares Morningstar Global Upstream Natural Resources Ind 0.7 46 19 7.9 +3.4
KNCT Invesco Next Gen Connectivity ETF 0.7 40 25 2.9 -1.5
ICLN iShares Global Clean Energy ETF 0.7 41 24 2.0 -2.4
DWX SPDR S&P International Dividend ETF 0.7 45 20 6.6 +2.2
EDIV SPDR S&P Emerging Markets Dividend ETF 0.7 49 16 8.8 +4.4
ADIV SmartETFs Asia Pacific Dividend Builder ETF 0.6 78 -13 9.2 +4.8
CGGO Capital Group Global Growth Equity ETF 0.6 47 18 3.9 -0.5
KLMT Invesco MSCI Global Climate 500 ETF 0.6 10 55 4.8 +0.4
MINV Matthews Asia Innovators Active ETF 0.6 79 -14 5.5 +1.1
GTEK Goldman Sachs Future Tech Leaders Equity ETF 0.5 75 -10 1.8 -2.6
DVYE iShares Emerging Markets Dividend ETF 0.5 49 16 17.6 +13.2
HAUZ DBX ETF Trust - Xtrackers International Real Estate ETF 0.5 10 55 8.4 +4.0
MEM Matthews Emerging Markets Equity Active ETF 0.5 79 -14 8.4 +4.0
ERTH Invesco MSCI Sustainable Future ETF 0.5 62 3 3.2 -1.3
OBOR KraneShares MSCI One Belt One Road Index ETF 0.4 79 -14 7.3 +2.9
JGLO JPMorgan Global Select Equity ETF 0.3 33 32 4.1 -0.3
CGW Invesco S&P Global Water Index ETF 0.3 57 8 4.4 -0.1
DGS WisdomTree Emerging Markets SmallCap Dividend Fund 0.2 58 7 8.5 +4.1
SPGM SPDR Portfolio MSCI Global Stock Market ETF 0.2 9 56 4.7 +0.3
PIO Invesco Global Water ETF 0.1 75 -10 4.3 -0.2
AVEE Avantis Emerging Markets Small Cap Equity ETF 0.1 42 23 7.8 +3.4
DEW WisdomTree Global High Dividend Fund 0.1 58 7 6.9 +2.5

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 14.7 %
Divided by: Fwd. P/BV 2.9 x
Less: Expense ratio 65 bp
Equals: ALTAR Score 4.4 %
info More information on ALTAR Score™
MODERN PORTFOLIO THEORY info

CONSENSUS RECOMMENDATIONS: FUND CONSTITUENTS
COMPOSITE
RATING		 1.52 CATEGORY
AVERAGE		 1.52
 
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.