iShares MSCI India ETF (INDA)

INDA is sitting roughly 6% below where it traded on average over the past year.

What is going on right now?

The price has drifted lower in 2024, down about 13.5% so far this year, and it sits below its recent and longer-term averages.

How is the business itself doing?

This is a basket of large Indian companies. Almost a third of the money sits in banks and financial firms, with HDFC Bank, ICICI Bank, and Reliance Industries together making up about 17% of the whole thing.

What stands out?

Its running cost is 0.61% per year, noticeably less than the 0.98% typical for similar funds. Over five years, though, it has barely broken even, returning just 0.2% a year.

What comes next?

India's monsoon season and the Reserve Bank of India's next rate decision directly affect the banks that make up nearly a third of this fund.