ACWI vs IFN: Correlation
iShares MSCI ACWI ETF (ACWI) and Aberdeen India Fund, Inc. (IFN) show a strong relationship: their 3-year correlation of weekly returns is 0.60.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACWI and IFN?
On 3 years of weekly data the ACWI/IFN correlation comes out at 0.60, strong. Recent behaviour matches the longer record: 0.69 over 1 year against 0.60 over 3. The 5-year figure is 0.64, and annualized covariance runs at 169.0 %².
Within ACWI's tracked universe of 119 assets, IFN comes in at #73 by 3-year correlation. The last year tells two different stories: ACWI led by 36.7 percentage points, +22.7% for ACWI against -14.0% for IFN.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
ACWI vs IFN: side by side
| ACWI (iShares MSCI ACWI ETF) | IFN (Aberdeen India Fund, Inc.) | |
|---|---|---|
| 1-year return | +22.7% | -14.0% |
| 5-year return | +69.0% | +1.4% |
| Volatility (ann.) | 13.8% | 20.3% |
| Beta vs S&P 500 | 0.92 | 0.74 |
| Max drawdown (3Y) | -16.5% | -33.9% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 1.44% | 19.23% |
| Expense ratio | 0.32% | – |
| Assets under management | $32.5B | – |
| Sector / category | ETF · Global | US Listed |
On the fund side, ACWI sits in the Global Large-Stock Blend category at iShares, with $32.5B under management, 1590 holdings, a 0.32% expense ratio, a 1.44% trailing dividend yield.
Year-by-year returns
| Year | ACWI | IFN |
|---|---|---|
| 2022 | -18.4% | -15.8% |
| 2023 | +22.3% | +36.5% |
| 2024 | +17.4% | -2.3% |
| 2025 | +22.4% | -3.0% |
| 2026 | +14.9% | -7.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACWI and IFN good diversifiers for each other?
Only partially. A correlation of 0.60 means ACWI and IFN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ACWI and IFN?
As of 2026-08-27, the correlation of weekly returns between ACWI and IFN is 0.60 over 3 years, 0.69 over 1 year and 0.64 over 5 years.
Is IFN a good diversifier for ACWI?
Only partially. A correlation of 0.60 means ACWI and IFN share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.60 mean?
A reading of 0.60 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/acwi-vs-ifn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/acwi-vs-ifn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ACWI correlations · IFN correlations
