INDY holdings and overlap
iShares India 50 ETF (INDY) holds 49 positions in its iShares file of 2026-10-27. Its three largest are HDFC Bank (HDFCBANK.IN) at 9.95%, ICICI Bank (ICICIBANK.IN) at 9.40% and Reliance Industries Ltd (RELIANCE.IN) at 7.63%, and its ten largest make up 53.3% of the fund.
In its iShares file of 2026-10-27, INDY holds none of the mega-cap tech companies and none of the ten largest US companies by market value. By country, 99.5% of INDY is in India.
What does INDY hold, as of its issuer file of 2026-10-27?
HDFC Bank is 9.95% of INDY on its own, against a median largest position of 5.7% across the 5 India funds with a page here. No fund with a page here holds more HDFCBANK.IN than INDY does, out of the 28 that hold it at all.
| Rank | Company | Weight | Weight bar |
|---|---|---|---|
| 1 | HDFCBANK.IN HDFC Bank | 9.95% | |
| 2 | ICICIBANK.IN ICICI Bank | 9.4% | |
| 3 | RELIANCE.IN Reliance Industries Ltd | 7.63% | |
| 4 | BHARTIARTL.IN Bharti Airtel Ltd | 5.75% | |
| 5 | LT.IN Larsen and Toubro Ltd | 4.1% | |
| 6 | INFY.IN Infosys | 3.91% | |
| 7 | SBIN.IN State Bank of India | 3.73% | |
| 8 | AXISBANK.IN Axis Bank | 3.35% | |
| 9 | KOTAKBANK.IN Kotak Mahindra Bank Ltd | 3.08% | |
| 10 | M&M.IN Mahindra and Mahindra Ltd | 2.44% | |
| 11 | TCS.IN Tata Consultancy Services Ltd | 2.43% | |
| 12 | ITC.IN Itc Ltd | 2.4% | |
| 13 | BAJFINANCE.IN Bajaj Finance Ltd | 2.37% | |
| 14 | ETERNAL.IN Eternal | 2.29% | |
| 15 | SUNPHARMA.IN Sun Pharmaceutical Industries | 1.77% | |
| 16 | TITAN.IN Titan Company Ltd | 1.73% | |
| 17 | HINDUNILVR.IN Hindustan Unilever Ltd | 1.54% | |
| 18 | HCLTECH.IN HCL Technologies Ltd | 1.49% | |
| 19 | MARUTI.IN Maruti Suzuki India Ltd | 1.43% | |
| 20 | NTPC.IN NTPC Ltd | 1.39% | |
| 21 | TATASTEEL.IN Tata Steel Ltd | 1.36% | |
| 22 | ADANIPORTS.IN Adani Ports and Special Economic Z | 1.3% | |
| 23 | BEL.IN Bharat Electronics Ltd | 1.29% | |
| 24 | ULTRACEMCO.IN Ultratech Cement Ltd | 1.28% | |
| 25 | HINDALCO.IN Hindalco Industries Ltd | 1.26% | |
| 26 | JSWSTEEL.IN JSW Steel | 1.15% | |
| 27 | SHFL.IN Shriram Finance Ltd | 1.13% | |
| 28 | TECHM.IN Tech Mahindra | 1.1% | |
| 29 | BAJAJ.AUTO.IN Bajaj Auto | 1.1% | |
| 30 | POWERGRID.IN Power Grid Corporation of India | 1.09% | |
| 31 | GRASIM.IN Grasim Industries | 1.05% | |
| 32 | INDIGO.IN Interglobe Aviation Ltd | 1.0% | |
| 33 | ASIANPAINT.IN Asian Paints | 0.99% | |
| 34 | EICHERMOT.IN Eicher Motors Ltd | 0.96% | |
| 35 | BAJAJFINSV.IN Bajaj Finserv Ltd | 0.94% | |
| 36 | COALINDIA.IN Coal India | 0.92% | |
| 37 | TRENT.IN Trent Ltd | 0.9% | |
| 38 | ONGC.IN Oil and Natural Gas Ltd | 0.86% | |
| 39 | NESTLEIND.IN Nestle India Ltd | 0.81% | |
| 40 | ADANIENT.IN Adani Enterprises | 0.8% | |
| 41 | APOLLOHOSP.IN Apollo Hospitals Enterprise | 0.78% | |
| 42 | DRREDDY.IN DR Reddys Laboratories | 0.78% | |
| 43 | CIPLA.IN Cipla Ltd | 0.73% | |
| 44 | SBILIFE.IN Sbi Life Insurance Company Ltd | 0.71% | |
| 45 | JIOFIN.IN Jio Financial Services | 0.66% | |
| 46 | TATACONSUM.IN Tata Consumer Products Ltd | 0.64% | |
| 47 | MAXHEALTH.IN Max Healthcare Institute | 0.62% | |
| 48 | HDFCLIFE.IN HDFC Life Insurance Company Ltd | 0.54% | |
| 49 | TMPV.IN Tata Motors Passenger Vehicles Ltd | 0.54% |
The most recent file iShares has published for INDY is dated 2026-10-27, 1 day before these prices, which is the median for the iShares ETFs covered here. Every one of the 49 positions INDY holds, with its weight, is in the fund's JSON file. See the other 27 ETFs with a page here that hold HDFCBANK.IN, and how their weights compare with the 9.95% INDY gives it.
Category: India, set by TickerInside from the ETF's own latest file. In its file of 2026-10-27, 100% of its stocks with a known country are in India. How categories are set.
https://tickerinside.com/api/v1/fund/indy.jsonhttps://tickerinside.com/api/v1/fund/indy.csv=IMPORTDATA("https://tickerinside.com/api/v1/fund/indy.csv")If your sheet uses a decimal comma: =IMPORTDATA("https://tickerinside.com/api/v1/fund/indy.csv"; ","; "en_US")curl -s https://tickerinside.com/api/v1/fund/indy.jsonHow much money went into or out of INDY?
INDY's flow on the close of Friday, October 23, 2026 is not measured: the two measures of it, from its holdings, disagreed, as they do on a rebalance or a corporate action. Over its last 5 closes, a net inflow of $0, 3 of them measured.
From INDY's own holdings files. Every ETF's latest flows.
How is INDY split by sector and country?
A sector is found for 18.5% of INDY's stock weight, under the 50% from which this page states sector weights; the weights found are in the fund's JSON file.
| Country | Weight | Weight bar |
|---|---|---|
| India | 99.5% |
From its iShares file of 2026-10-27. How these are measured.
What did INDY hold in its SEC reports since 2019?
INDY's largest position in its SEC filings has been HDFC Bank (HDFCBANK.IN) since 2019-09-30: 9.67% then and 11.11% in its report for 2026-06-30, across 28 quarterly reports.
| Report | Positions | Largest | Top 10 |
|---|---|---|---|
| 2019-09-30 | 52 | HDFCBANK.IN 9.67% | 59.7% |
| 2019-12-31 | 50 | HDFCBANK.IN 10.97% | 61.0% |
| 2020-12-31 | 51 | RELIANCE.IN 10.67% | 61.5% |
| 2021-12-31 | 51 | RELIANCE.IN 10.75% | 58.2% |
| 2022-12-31 | 51 | RELIANCE.IN 10.99% | 58.1% |
| 2023-12-31 | 50 | HDFCBANK.IN 13.49% | 57.5% |
| 2024-12-31 | 50 | HDFCBANK.IN 12.61% | 56.8% |
| 2025-12-31 | 51 | HDFCBANK.IN 12.68% | 55.7% |
| 2026-06-30 | 50 | HDFCBANK.IN 11.11% | 53.4% |
The first report, then the last of each year, of the 28 reports INDY filed on SEC Form N-PORT from 2019-09-30 to 2026-06-30, each company under its ticker today. Every position of every report is in its quarterly file, and at any date at /api/v1/history/indy/{date}.json. How these are read.
What does INDY duplicate?
The ETF nearest to INDY is INDA: the two hold 65.2% of their weight in common, in the 49 companies both own, and 100.0% of INDY itself is also held there. Owning INDY alongside the ETFs at the top of this table means about half of the weight is held twice. INDY is close to contained in INDA.
| ETF | Overlap by weight | Of INDY held there | Of that ETF in INDY | Companies in both | Overlap bar |
|---|---|---|---|---|---|
| INDA | 65.2% | 100.0% | 65.5% | 49 | |
| FLIN | 58.2% | 99.2% | 58.3% | 48 | |
| BKF | 20.9% | 100.0% | 21.0% | 49 | |
| EQLT | 12.2% | 50.3% | 13.2% | 25 | |
| IMVP | 11.8% | 12.2% | 21.4% | 6 | |
| EEMA | 9.6% | 100.0% | 9.6% | 49 | |
| EMXC | 9.4% | 100.0% | 9.4% | 49 | |
| SCHE | 9.0% | 99.2% | 9.1% | 48 | |
| VWO | 8.6% | 99.2% | 8.7% | 48 | |
| AAXJ | 8.4% | 100.0% | 8.4% | 49 | |
| LDEM | 7.8% | 37.8% | 7.8% | 21 | |
| EEM | 7.5% | 100.0% | 7.5% | 49 |
FLIN's holdings are from its SEC Form N-PORT for the period ended 2026-06-30, filed 2026-08-27. SCHE's holdings are from its SEC Form N-PORT for the period ended 2026-08-31, filed 2026-10-27. VWO's holdings are from its SEC Form N-PORT for the period ended 2026-07-31, filed 2026-09-28. The other ETFs' holdings are from their issuers' latest files. Check INDY against any ETF in the ETF overlap calculator · how overlap is measured.
What adds something different to INDY?
SOXX shares 0% of weight with INDY and its weekly returns correlate with it at 0.33 over three years. The table lists the covered ETFs with the least in common with INDY, least shared weight first and, among equals, lowest correlation.
| ETF | Name | Overlap by weight | Correlation, 3y | Companies in both |
|---|---|---|---|---|
| SOXX | iShares Semiconductor ETF | 0.0% | 0.33 | 0 |
| VLUE | iShares MSCI USA Value Factor ETF | 0.0% | 0.36 | 0 |
| USMV | iShares MSCI USA Min Vol Factor ETF | 0.0% | 0.38 | 0 |
| USRT | iShares Core U.S. REIT ETF | 0.0% | 0.38 | 0 |
| IYR | iShares U.S. Real Estate ETF | 0.0% | 0.39 | 0 |
| IJR | iShares Core S&P Small-Cap ETF | 0.0% | 0.44 | 0 |
| THRO | iShares U.S. Thematic Rotation Active ETF | 0.0% | 0.44 | 0 |
| REET | iShares Global REIT ETF | 0.0% | 0.45 | 0 |
Cost, returns and risk
| Expense ratio | 0.65% |
|---|---|
| Dividend yield | 0.89% |
| Total return, 1 year | -15.1% |
| Total return, 3 years cumulative | 0.9% |
| Total return, 5 years cumulative | -4.9% |
| Volatility, annualised | 13.3% |
| Worst fall, 3 years | -22.7% |
| Beta against SPY, 3 years of weekly returns | 0.45 |
| Weight in the ten largest positions | 53.3% |
| Largest single position | 10.0% |
| Assets under management | $0.5B |
Expense ratio, yield and assets are reference data (the expense ratio from INDY's SEC filing of 2026-07-27); the weight in the ten largest positions and the largest single position are from the issuer file of 2026-10-27; every other figure is computed here from weekly closes.
How it moves with the market
| Against | Correlation, 3 years | Covariance, annualised, in percent squared |
|---|---|---|
| SPY | 0.47loosely linked | 86 |
| QQQ | 0.39barely linked | 101 |
Weekly total returns. What the bands mean · why the covariance is printed.
Year by year
| Year | Total return |
|---|---|
| 2026 | -15.7% |
| 2025 | 5.0% |
| 2024 | 3.5% |
| 2023 | 16.9% |
| 2022 | -7.3% |
One year
Where to go next
- SMIN, iShares MSCI India Small-Cap ETF
- FLIN, Franklin FTSE India ETF
- IMVP, Invesco India ETF
- INDA, iShares MSCI India ETF
- Run a portfolio x-ray to see what INDY carries once you look through it
- Compare INDY against any other ETF in the builder
Holdings from the most recent file iShares has published, dated 2026-10-27. Prices through 2026-10-28. How every figure here is produced. Measurements, not investment advice.
Cite this page
TickerInside, iShares India 50 ETF (INDY), holdings from the issuer's file of 2026-10-27, https://tickerinside.com/etf/indy/, CC BY 4.0
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