A side-by-side comparison of Goldman Sachs India Equity ETF (GIND) and iShares India 50 ETF (INDY) to help Canadian investors make an informed decision.
1-Year Performance
Normalised to 100 at the start — shows relative return over the trailing 12 months.
Head-to-Head Comparison
| Metric | GIND | INDY |
|---|---|---|
| YTD Return | -2.78%✓ | -5.47% |
| 1-Day Change | -0.53% | -0.39%✓ |
| 1-Week Change | -2.24% | -2.16%✓ |
| 1-Month Change | -6.88% | -6.44%✓ |
| Current Price | $23.31 | $40.79 |
| AUM | $159M | $500M✓ |
| MER (Expense Ratio) | 0.75%✓ | 0.89% |
| Dividend Yield | — | 0.85% |
| Distribution Frequency | — | NA |
| Inception Date | 2025-04-01 | 2009-11-18 |
| Holdings Count | 39 | 49 |
| MorningStar Rating | — | ★★ |
| Category | India Equity | India Equity |
| Beta | 0.00 | 0.51 |
| 52-Week High | $27.40 | $50.12 |
| 52-Week Low | $21.28 | $40.66 |
| 50-Day MA | $24.63 | $43.11 |
| 200-Day MA | $24.42 | $44.59 |
✓ marks the better value for return/yield/AUM metrics. Lower ✓ for MER.
Annualised Returns
| Period | GIND | INDY |
|---|---|---|
| YTD | -2.78%✓ | -5.47% |
| 1 Year | -8.49%✓ | -12.47% |
| 3 Year | — | -0.22% |
| 5 Year | — | -0.70% |
| 10 Year | — | +5.25% |
| 1Y Volatility | 20.61% | 15.49% |
| Sharpe Ratio (3Y) | — | -0.12 |
Past performance is not a guarantee of future results.
Top 10 Holdings
| 1 | ICICIBANK | ICICI Bank Limited | 5.21% |
| 2 | HDFCBANK | HDFC Bank Limited | 3.43% |
| 3 | RELIANCE | Reliance Industries Limited | 2.81% |
| 4 | AXISBANK | Axis Bank Limited | 2.49% |
| 5 | M&M | Mahindra & Mahindra Limited | 2.43% |
| 6 | ZOMATO | Zomato Limited | 2.00% |
| 7 | SUNPHARMA | Sun Pharmaceutical Industries Limited | 1.92% |
| 8 | DIVISLAB | Divi's Laboratories Limited | 1.80% |
| 9 | SBIN | State Bank of India | 1.68% |
| 10 | BHARTIARTL | Bharti Airtel Limited | 1.61% |
| 1 | HDFCBANK | HDFC Bank Limited | 10.59% |
| 2 | ICICIBANK | ICICI Bank Limited | 8.86% |
| 3 | RELIANCE | Reliance Industries Limited | 7.59% |
| 4 | BHARTIARTL | Bharti Airtel Limited | 5.15% |
| 5 | LT | Larsen & Toubro Limited | 4.20% |
| 6 | SBIN | State Bank of India | 3.82% |
| 7 | INFY | Infosys Limited | 3.41% |
| 8 | AXISBANK | Axis Bank Limited | 3.33% |
| 9 | KOTAKBANK | Kotak Mahindra Bank Limited | 2.92% |
| 10 | M&M | Mahindra & Mahindra Limited | 2.52% |
Sector Weights
| Sector | GIND | INDY |
|---|---|---|
| Basic Materials | 8.57% | 7.34% |
| Communication Services | 2.08% | 5.20% |
| Consumer Cyclicals | 16.35% | 11.78% |
| Consumer Defensive | 5.17% | 5.57% |
| Energy | 3.54% | 10.47% |
| Financial Services | 29.55% | 36.40% |
| Healthcare | 10.48% | 4.86% |
| Industrials | 11.35% | 7.91% |
| Real Estate | 2.15% | 0.00% |
| Technology | 8.38% | 7.90% |
| Utilities | 2.37% | 2.58% |
About GIND
The fund invests, under normal circumstances, at least 80% of its net assets plus any borrowings for investment purposes (measured at the time of purchase) in a portfolio of equity investments in issuers economically tied to India. Equity investments include common stocks, preferred stocks, American depositary receipts ("ADRs") and global depositary receipts ("GDRs") of all market capitalizations. The fund is non-diversified.
About INDY
The underlying index measures the equity performance of the top 50 companies by free float market capitalization whose equity securities trade in the Indian securities markets. The fund generally will invest at least 80% of its assets in the component securities of its underlying index and in investments that have economic characteristics that are substantially identical to the component securities of its underlying index. The fund is non-diversified.
Which ETF is Right for You?
Both GIND and INDY are listed on Canadian exchanges and accessible through most Canadian brokerages including Questrade, Wealthsimple Trade, TD Direct, and Interactive Brokers.
GIND and INDY are closely matched on the metrics we track. The right choice depends on your individual investment goals, tax situation, and time horizon.
- Consider your account type (TFSA, RRSP, non-registered) as it can affect dividend taxation.
- Compare management expense ratios (MER) directly on each provider's website.
- Look at average daily trading volume to assess liquidity.
- Review the fund's underlying index and holdings to ensure the exposure matches your goals.
This is not financial advice. Always do your own research or consult a licensed financial advisor before investing.
Frequently Asked Questions
What is the difference between GIND and INDY?
GIND (Goldman Sachs India Equity ETF) and INDY (iShares India 50 ETF) are both Canadian-listed ETFs. Key differences include their AUM ($159M vs $500M), dividend yield (N/A vs 0.85%), and year-to-date performance (-2.78% vs -5.47%).
Is GIND better than INDY?
There is no single "better" ETF — it depends on your investment goals. If you prioritise recent performance, GIND has outperformed year-to-date. Always review the fund's prospectus and consider your tax situation.
Can I buy GIND and INDY on Wealthsimple?
Most Canadian-listed ETFs are available on Wealthsimple Trade commission-free. Both GIND and INDY should be accessible. Check Wealthsimple's supported tickers list to confirm availability.
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