What Is INDA? iShares MSCI India ETF

INDA is the iShares MSCI India ETF, launched by iShares in February 2012. It tracks the MSCI India Index, which covers large- and mid-cap Indian companies, giving US investors single-ticker access to India's stock market without needing a local brokerage account or navigating foreign-investor rules directly.

INDA, listed on Nasdaq and issued by iShares, part of BlackRock. The full name is the iShares MSCI India ETF. It is the largest and most widely traded US-listed India equity ETF.

Large- and mid-cap Indian companies weighted by market capitalization. Top holdings have included HDFC Bank, Reliance Industries, ICICI Bank, Bharti Airtel, Infosys, Axis Bank, Larsen & Toubro, Mahindra & Mahindra, and Bajaj Finance, along with a small cash position. See the top-10 table above for current weights. Financials are the single largest sector.

0.61% per year, or $61 annually on a $10,000 position. That is well above US broad-market index funds and reflects the higher cost of emerging-market access, including local trading and custody. There are lower-cost India ETFs, so cost-conscious investors sometimes compare alternatives.

INDA's listed yield is 0.00% in this data, though single-country emerging-market funds can make periodic distributions. Indian companies generally pay lower dividends than income-focused US funds, and most of the expected return from INDA comes from price appreciation rather than income.

INDA trades like a stock during US market hours through any major broker, including Robinhood, Fidelity, Schwab, Public, and Webull. Fractional shares are supported at many brokers. If you want India exposure as a satellite alongside US holdings, you can connect your broker to Walnut to track it in one place.

Approximately $6.87 billion as of mid-2026. INDA is the largest US-listed India ETF by assets, reflecting steady investor interest in India as one of the fastest-growing large emerging-market economies.

INDA gives concentrated exposure to India's growth story, but it carries single-country risk, currency risk, a higher fee, and heavy weighting in financials and a few mega-caps. Whether it fits depends on your view of India and how it complements a diversified portfolio. Walnut is not an investment adviser; this is not a recommendation.

February 2, 2012. iShares launched INDA to give US investors accessible exposure to Indian equities, which had historically been difficult to reach directly due to foreign-investment restrictions and local market complexity.

No. INDA tracks the MSCI India Index, which covers large- and mid-cap companies and captures roughly the top portion of India's investable market. For small-cap India exposure, investors look to dedicated small-cap India funds, which behave quite differently and tend to be more volatile.

Key risks include single-country concentration, currency fluctuations between the rupee and the dollar, heavy weighting in financials and a few large companies, and the general volatility of emerging markets. Regulatory and political developments in India can also move the fund. These risks are why INDA is usually a satellite position, not a core.

INDA holds Indian stocks priced in rupees but trades in US dollars, so its return reflects both the performance of Indian equities and changes in the rupee-to-dollar exchange rate. A weakening rupee can reduce dollar-denominated returns even if Indian stocks rise, and a strengthening rupee can add to them.

Both are US-listed India ETFs. INDA tracks the broader MSCI India Index of large- and mid-caps, while INDY tracks the Nifty 50, India's 50 largest companies. INDA holds more names and reaches further into mid-caps; INDY is more concentrated in the very largest firms. Fees and exact holdings differ between the two.

India is one of the largest and fastest-growing emerging economies, with a large population, expanding middle class, and a substantial technology-services sector. Many investors add India exposure through funds like INDA to diversify beyond developed markets. That growth potential comes with the emerging-market risks noted above.

Put a few fields side by side: the expense ratio (fees compound over decades), the index or strategy it tracks, the top holdings and how much they overlap with what you already own, the dividend yield, and the AUM, liquidity, and bid-ask spread that affect trading costs. For index funds, tracking error (how closely it follows its index) and tax efficiency matter too. INDA's figures are above; the full method is in Walnut's guide on how to compare ETFs.