Yahoo Finance ETFs in Focus on India's Historic Walk on Moon
India's Chandrayaan-3 spacecraft successfully landed on the moon, marking a significant milestone in the country's space endeavors. This makes India the fourth country to land on the moon, and the first to land on one of the moon’s lunar poles. Previously, Russia (the erstwhile Soviet Union), the United States and China landed spacecraft successfully on the moon.
India's recent victory with Chandrayaan-3 underscores the nation's growing expertise and resilience in space exploration. Investors seeking to capitalize on the country’s growth could consider ETFs like iShares MSCI India ETF INDA, iShares India 50 ETF INDY, Invesco India ETF PIN, VanEck India Growth Leaders ETF GLIN and VanEck Digital India ETF DGIN.
A Historic Feat
India's Chandrayaan-3 mission stands out for its cost-effective approach. Moreover, India has solidified its position as a formidable player in space exploration. The mission's success is expected to pave the way for more ambitious projects, furthering the country’s contributions to global space research and exploration (read: India ETFs Riding the Wave of Economic Transformation).
Companies integral to India's space ambitions have seen their valuations skyrocket, with their contributions spanning from intricate electronic components to essential metal gears crucial to rocketry and satellite operations. In fact, the market capitalization of 13 pivotal space companies has soared by more than $2.5 billion in just one week, highlighting the profound influence of Chandrayaan-3 on both technological and economic fronts.
A slew of companies, including Zen Technologies, PTC, Genus Power Infrastructures, PG Electroplast, Apollo Micro Systems, MIC Electronics, Larsen & Toubro (L&T), Mishra Dhatu Nigam, Bharat Heavy Electricals Ltd (BHEL), Hindustan Aeronautics, Walchandnagar Industries, and MTAR Technologies, have been instrumental in the Chandrayaan-3 mission.
ETFs in Focus
iShares MSCI India ETF (INDA)
iShares MSCI India ETF offers exposure to large and mid-cap companies in India by tracking the MSCI India Index and charging 64 bps in fees per year from investors. Holding 115 stocks in its basket, the fund is highly concentrated on the top firms with near double-digit allocation. Other firms hold no more than 6% share. Financials dominates the fund’s portfolio with one-fourth share, closely followed by a 13.3% allocation to information technology.
iShares MSCI India ETF is the largest and the most popular ETF in this space, with AUM of $6 billion and an average trading volume of 2.4 million shares a day. It has a Zacks ETF Rank #3 (Hold).
iShares India 50 ETF (INDY)
iShares India 50 ETF provides exposure to the largest 51 Indian stocks by tracking the Nifty 50 Index. It has a concentration issue in the top three holdings that collectively make up for a 31.3% share, while others account for no more than 5.8% of the assets. With respect to sectors, financials takes the top spot at 36.5%, closely followed by information technology (13.4%) and energy (11.7%).
iShares India 50 ETF manages assets worth $650.8 million and trades in a good volume of nearly 79,000 million shares a day. It is a high-cost choice in the space, charging 89 bps in annual fees and has a Zacks ETF Rank #3 (read: ETFs to Benefit & Lose From Higher Oil Price).
Invesco India ETF (PIN)
Invesco India ETF tracks the FTSE India Quality And Yield Select Index, holding 170 stocks in its basket and having a higher concentration on the top firm. Other firms hold no more than 6% of the assets. The fund is widely diversified across sectors, with information technology, financials, energy and materials taking a double-digit allocation each.
Invesco India ETF has accumulated $139.4 million in its asset base while trading in an average daily volume of 48,000 shares. It charges 78 bps in annual fees and has a Zacks ETF Rank #3.
VanEck India Growth Leaders ETF (GLIN)
VanEck India Growth Leaders ETF offers exposure to fundamentally sound Indian companies that exhibit attractive growth potential at a reasonable price. It follows the MarketGrader India All-Cap Growth Leaders Index and holds 85 stocks in its basket, with each accounting for less than 5% of assets. From a sector look, information technology and financials take the largest share at 22.5% and 20.7%, respectively (read: India ETF Investing: The Rising Star of Global Growth).
VanEck India Growth Leaders ETF has amassed $$62.2 million in its asset base and charges 77 bps in annual fees. It trades in an average daily volume of 13,000 shares and has a Zacks ETF Rank #3.
VanEck Digital India ETF (DGIN)
VanEck Digital India ETF targets the companies involved in supporting the digitization of India. It tracks the MVIS Digital India Index, holding 37 stocks in its basket, with none making up for more than 8.2% of assets. About 54.2% of the funds is dominated by information technology, followed by 15.1% in communication services.
VanEck Digital India ETF has accumulated $3.2 million in its asset base and charges 71 bps in annual fees. It trades in a volume of 2,000 shares per day on average and has a Zacks ETF Rank #3.
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iShares MSCI India ETF (INDA): ETF Research Reports
Invesco India ETF (PIN): ETF Research Reports
iShares India 50 ETF (INDY): ETF Research Reports
VanEck India Growth Leaders ETF (GLIN): ETF Research Reports
VanEck Digital India ETF (DGIN): ETF Research Reports
