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Matthews India Active ETF (INDE)

Rating:59Neutral

Price Target:

$33.00

The Matthews India Active ETF (INDE) has a balanced overall rating, reflecting a mix of strong and weaker holdings. Leading contributors include HDFC Bank, which benefits from robust financial performance and strategic initiatives, and ICICI Bank, supported by solid profitability and capital position despite some challenges in loan growth. However, weaker holdings like Swiggy, with significant profitability and cash flow issues, and Thangamayil Jewellery, facing high leverage and bearish momentum, may have held back the fund’s rating. A key risk factor is the ETF's exposure to companies with cash flow challenges, which could impact overall stability.

Positive Factors

Strong Top Holdings

Several key holdings, such as Bajaj Finance and Bharti Airtel, have delivered strong year-to-date performance, supporting the fund’s overall returns.

Sector Diversification

The ETF is spread across multiple sectors, including financials, consumer cyclical, and technology, reducing reliance on any single industry.

Focused Geographic Exposure

The fund’s heavy focus on India allows investors to tap into the growth potential of one of the world’s fastest-growing economies.

Negative Factors

High Expense Ratio

The ETF charges a relatively high expense ratio compared to passive funds, which can eat into investor returns over time.

Underperforming Holding

Swiggy Limited, one of the top holdings, has shown negative year-to-date performance, which may drag on the fund’s overall results.

Geographic Concentration Risk

With nearly all assets invested in India, the fund is highly exposed to risks specific to the Indian market, such as political or economic instability.

INDE vs. SPDR S&P 500 ETF (SPY)

AUM9.92M

RegionAsia-Pacific

Expense Ratio0.79%

Beta0.40

IssuerMatthews

Inception DateSep 22, 2023

Dividend YieldN/A

Asset ClassEquity

Index TrackedNo Underlying Index

Share Statistics

EPS (TTM)N/A

Shares OutstandingN/A

10 Day Avg. Volume1,140

30 Day Avg. Volume669

Financial Highlights & Ratios

PEG RatioN/A

Price to Book (P/B)N/A

Price to Sales (P/S)N/A

P/FCF RatioN/A

Enterprise Value/Market CapN/A

Enterprise Value/RevenueN/A

Enterprise Value/Gross ProfitN/A

Enterprise Value/EbitdaN/A

Forecast

1Y Price Target

33.69

Price Target Upside― Downside

Rating ConsensusModerate Buy

Number of Analyst Covering61

INDE Summary

The Matthews India Active ETF (Ticker: INDE) is an investment fund that focuses on companies in India, offering exposure to one of the fastest-growing economies in the world. It includes a mix of businesses across different sectors, such as financials, technology, and consumer goods. Some well-known companies in this ETF are HDFC Bank and Zomato. Investors might consider INDE to diversify their portfolio and tap into the potential growth of emerging markets like India. However, it’s important to know that the ETF’s performance is closely tied to the Indian economy, which can be volatile and influenced by local and global factors.

How much will it cost me?The Matthews India Active ETF (Ticker: INDE) has an expense ratio of 0.79%, meaning you’ll pay $7.90 per year for every $1,000 invested. This is higher than average because it is actively managed, which involves more research and decision-making compared to passively managed ETFs that track an index.

What would affect this ETF?The Matthews India Active ETF could benefit from India's strong economic growth, rising consumer demand, and advancements in technology, particularly given its exposure to financial and consumer sectors. However, potential risks include regulatory changes, geopolitical tensions, or global economic slowdowns that could impact India's market performance. Additionally, fluctuations in interest rates or inflation could affect key holdings like HDFC Bank and ICICI Bank.

INDE Top 10 Holdings

The Matthews India Active ETF is leaning heavily on financials, with HDFC Bank and Bajaj Finance leading the charge thanks to steady growth and resilience in India's banking sector. Consumer-focused names like Zomato are rising, buoyed by strong year-to-date performance, while Swiggy is dragging the fund with profitability struggles. Reliance Industries adds stability with its robust cash flow management, but ICICI Bank’s mixed results and Swiggy’s challenges weigh on overall momentum. With a clear focus on India’s dynamic economy, the fund showcases a blend of financial strength and consumer-driven innovation.

Name	Company Name	Weight %	Market Value	Market Cap	Yearly Gain	Overall Rating
HDFCBANK	HDFC Bank Limited	7.88%	$795.92K	₹15.42T	14.62%	79 Outperform
ZOMATO	Zomato Ltd.	7.29%	$736.30K	₹3.23T	32.67%	―
ICICIBANK	ICICI Bank Limited	5.26%	$531.04K	₹9.74T	2.31%	74 Outperform
SWIGGY	Swiggy Limited	5.16%	$521.40K	₹1.05T	―	50 Neutral
BAJFINANCE	Bajaj Finance Limited	4.69%	$473.52K	₹6.69T	53.13%	65 Neutral
SHRIRAMFIN	Shriram Finance Limited	3.58%	$362.13K	₹1.36T	10.83%	74 Outperform
RELIANCE	Reliance Industries Limited	3.47%	$350.95K	₹20.12T	11.07%	73 Outperform
BHARTIARTL	Bharti Airtel Limited	3.31%	$334.43K	₹11.91T	27.71%	68 Neutral
THANGAMAYL	Thangamayil Jewellery Ltd.	3.30%	$333.45K	₹64.70B	-1.92%	56 Neutral
INFY	Infosys Limited	2.96%	$298.72K	₹6.23T	-18.39%	75 Outperform

INDE Technical Analysis

Technical Analysis Sentiment

Positive

Last Price―

Price Trends

50DMA

30.18

Positive

100DMA

29.92

Positive

200DMA

28.88

Positive

Market Momentum

MACD

0.28

Negative

RSI

57.69

Neutral

STOCH

20.09

Neutral

Evaluating momentum and price trends is crucial in ETF analysis to make informed investment decisions. For INDE, the sentiment is Positive. The current price of undefined is equal to the 20-day moving average (MA) of 30.53, equal to the 50-day MA of 30.18, and equal to the 200-day MA of 28.88, indicating a bullish trend. The MACD of 0.28 indicates Negative momentum. The RSI at 57.69 is Neutral, neither overbought nor oversold. The STOCH value of 20.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for INDE.

INDE Peer Comparison

Comparison Results

Name	Price	Price Target	AUM	Expense Ratio	Overall Rating
INDE	―	―	$9.92M	0.79%	59 Neutral
GIND	―	―	$65.11M	0.75%	57 Neutral
JPY	―	―	$60.42M	0.60%	70 Outperform
NDIA	―	―	$53.01M	0.76%	59 Neutral
JAPN	―	―	$26.85M	0.85%	61 Neutral
RAYJ	―	―	$16.05M	0.72%	71 Outperform

Performance Comparison

INDE

Matthews India Active ETF

30.88

0.55

1.81%

GIND

Goldman Sachs India Equity ETF

―

JPY

Lazard Japanese Equity ETF

―

NDIA

Global X India Active ETF

―

JAPN

Horizon Kinetics Japan Owner Operator ETF

―

RAYJ

Rayliant SMDAM Japan Equity ETF

―

Glossary

BuyAn ETF rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the ETF is likely to deliver higher returns compared to other ETFs in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldAn ETF rated as a "Hold" s expected to perform in line with the overall market or a specific benchmark. This rating indicates that the ETF is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellAn ETF rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the ETF may deliver lower returns compared to other ETFs in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst ETF Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in ETFs carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: ―

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