Financial and healthcare stocks led India stocks lower for the third consecutive day.
After notching some of the biggest gains in the Asia region year-to-date, India stocks for the third consecutive day. The S&P BSE Sensex Index fell 0.68% to 31797.84 on Wednesday with financial and health care stocks leading the way down.
Some Indian stock-tracking exchange-traded funds did better than others. Those that skew small were among the worst performing. The iShares MSCI India Small Cap ETF (SMIN) declined more than 2.6%, while the VanEck Vectors India Small-Cap Index ETF (SCIF) tumbled 2.2%. Meanwhile the iShares MSCI India ETF (INDA), which holds large- and mega-cap stocks, fell just 1.7%.
The iShares ETF took a bigger hit, because it has a bigger helping of financial services stocks than the VanEck ETF. While the VanEck ETF is outpacing the iShares ETF by one percentage point so far this year, the iShares ETF has a better three-year track record. It returned 16.8% compared to the VanEck ETF’s 10.9%, according to Morningstar. Oddly enough, the one with the better long-term record charges 2 basis points or 0.02% more than the other.