INDA vs. EPI: Which India ETF Best Captures the World's Fastest-Growing Big Economy?

The debate over India-exposure ETFs centers on two popular vehicles: the iShares MSCI India ETF (INDA) and the WisdomTree India Earnings Fund (EPI). The article frames India as the world’s fastest-growing large economy and notes that both funds are unhedged rupee plays, but they allocate capital differently. INDA tracks the MSCI India Index and weights large- and mid-cap stocks by float-adjusted market capitalization, with holdings led by companies such as Reliance Industries, HDFC Bank, Infosys, ICICI Bank and TCS. EPI follows a profitability-focused approach, weighting companies by net income and limiting the portfolio to firms that are profitable. Over three years, EPI has risen 20.28% versus INDA’s 12.24%, and the gap widens further over five and ten years. In 2026, both are down year to date, with INDA down 9.99% and EPI down 9.01%, amid tariff worries and foreign outflows.