Zacks Investment ResearchT3·32mo ago
INDE Matthews India Active ETF
ETFETF quote, holdings, sector allocation, technicals, and options analytics. Fibonacci levels
Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.
INDE
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Key stats
About
Matthews India Active ETF (INDE) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2023-09-21
- Has Options
- No
Fund profile
holdings as of Jun 30, 2026SEC filingthrough Jun 2026flows, SEC filings
International Equity
Single Country#136 of 163 by assets
Matthews Asia
India
Emerging Markets
Actively managed
- Expense ratio
- 0.79% prospectus, filed Apr 30, 2026
- Assets
- $14M SEC filing, Jun 30, 2026
- Trailing yield
- 1.84% paid annual
- Average daily volume
- $49K 30 sessions
- Holdings
- 69 top 10 are 47.3%
- Listed
- Sep 21, 2023 NYSE Arca
Cost12
Liquidity0
Scale6
Diversification62
Moves with. US large-cap stocks (38% of its variance, beta 0.91); Emerging markets over US (5% of its variance, beta 0.13); Developed markets ex-US over US (4% of its variance, beta 0.33). These factors explain 43% of its daily moves over the last year.
Stated objective. Long-term capital appreciation. (from the fund's prospectus)
All 69 holdingsFlow historySimilar fundsOverlap toolAll Single Country ETFs
Fund flows
through Jun 2026SEC filings- Jun 2026
- $0 latest reported month
- Latest 3 months
- $0 0.0% of assets
- Latest 12 months
- −$74K −0.5% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | $0 |
| May 2026 | $0 |
| Apr 2026 | $0 |
| Mar 2026 | +$519K |
| Feb 2026 | +$4.1M |
| Jan 2026 | $0 |
| Dec 2025 | $0 |
| Nov 2025 | $0 |
| Oct 2025 | $0 |
| Sep 2025 | $0 |
| Aug 2025 | $0 |
| Jul 2025 | −$4.7M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 36 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| INDAiShares MSCI India ETF | 43% | 0.61% | $5.8B | −13.7% | compare |
| INDYiShares S&P India Nifty 50 Index Fund | 41% | 0.65% | $509M | −21.8% | compare |
| INDHWisdomTree India Hedged Equity Fund | 40% | 0.64% | $5.8M | −15.6% | compare |
| FLINFranklin FTSE India ETF | 39% | 0.19% | $2.5B | −13.9% | compare |
| INDXtrackers Nifty 500 India ETF | 37% | 0.19% | $4.5M | — | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Jun 30, 2026SEC filing- Insider buying
- 0% of weight had net insider buying, 90 days; 0% net selling
- Reporting earnings
- 0.0% of weight in 7 days; 0.0% in 14
Each figure is the fund's holdings weighted by position size, using our data on those stocks, and covers only the share of the stock holdings stated. Positive fair value means the holdings trade below our estimate.
What changed in the portfolio
Mar 31, 2026 → Jun 30, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| Decrease | STATE BANK OF INDIA | 3.61% | 1.42% | −55.9% |
| Increase | HFCL LTD | 0.51% | 2.55% | +89.2% |
| Increase | NEULAND LABORATORIES LTD | 2.33% | 3.85% | +26.2% |
| Decrease | INFOSYS LTD | 2.06% | 0.71% | −49.0% |
| Increase | ATHER ENERGY LTD | 0.35% | 1.64% | +264.8% |
| Increase | STERLITE TECHNOLOGIES LTD | 0.49% | 1.64% | +13.4% |
| Increase | BHARAT HEAVY ELECTRICALS LTD | 0.52% | 1.50% | +100.7% |
| New position | PRAJ INDUSTRIES LTD | — | 0.94% | — |
| Exit | Automotive Axles | 0.76% | — | — |
| Decrease | MARUTI SUZUKI INDIA LTD | 1.01% | 0.26% | −73.7% |
9 new, 8 exited, 14 increased and 21 decreased between the fund's two latest holdings reports; turnover 17.9%. Full holdings and history
Under the hood
fiscal year to Dec 31, 2025SEC census- Authorized participants
- 2 active of 7 with agreements; top 3 did 100%
- Created · redeemed
- $0 · $4.7M over the fiscal year
- Redemptions in kind
- 0% creations 0% in kind
- Creation unit
- 20,000 shares
- Securities lending
- not authorized
- Diversification status
- Non-diversified may concentrate in fewer issuers
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
ETF Profile
holdings as of 2026-06-30
Holdings
69
AUM
$14.3M
Provider
Nport
Inception
2023-09-21
Exchange
ARCX
Data As Of
2026-06-30
Expense Ratio
0.79%
Dividend Yield
1.84%
Distribution
Annual
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2025-12-17 | 2025-12-22 | $0.5265 | CD |
| 2024-12-18 | 2024-12-23 | $0.1678 | CD |
Asset Allocation
Top Holdings
top 50 of 69 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| — | THANGAMAYIL JEWELLERY LTD | 7.46% | Equity (common) | IN |
| — | HDFC BANK LTD | 7.04% | Equity (common) | IN |
| — | ETERNAL LTD | 6.55% | Equity (common) | IN |
| — | ICICI BANK LTD | 5.75% | Equity (common) | IN |
| — | NEULAND LABORATORIES LTD | 3.85% | Equity (common) | IN |
| — | BAJAJ FINANCE LTD | 3.74% | Equity (common) | IN |
| — | SHRIRAM FINANCE LTD | 3.58% | Equity (common) | IN |
| — | BHARTI AIRTEL LTD | 3.17% | Equity (common) | IN |
| — | AXIS BANK LTD | 3.11% | Equity (common) | IN |
| — | RELIANCE INDUSTRIES LTD | 3.04% | Equity (common) | IN |
| — | HFCL LTD | 2.55% | Equity (common) | IN |
| — | MARICO LTD | 2.25% | Equity (common) | IN |
| — | KOTAK MAHINDRA BANK LTD | 2.07% | Equity (common) | IN |
| — | MAHINDRA & MAHINDRA LTD | 1.87% | Equity (common) | IN |
| — | STAR HEALTH AND ALLIED INSURANCE CO LTD | 1.84% | Equity (common) | IN |
| — | AVALON TECHNOLOGIES LTD | 1.82% | Equity (common) | IN |
| — | THERMAX LTD | 1.74% | Equity (common) | IN |
| — | HINDUSTAN UNILEVER LTD | 1.67% | Equity (common) | IN |
| — | ATHER ENERGY LTD | 1.64% | Equity (common) | IN |
| — | STERLITE TECHNOLOGIES LTD | 1.64% | Equity (common) | IN |
| — | SWIGGY LTD | 1.60% | Equity (common) | IN |
| — | BHARAT HEAVY ELECTRICALS LTD | 1.50% | Equity (common) | IN |
| — | TATA CONSUMER PRODUCTS LTD | 1.47% | Equity (common) | IN |
| — | STATE BANK OF INDIA | 1.42% | Equity (common) | IN |
| — | MAX FINANCIAL SERVICES LTD | 1.40% | Equity (common) | IN |
| — | VARUN BEVERAGES LTD | 1.34% | Equity (common) | IN |
| — | CHOLAMANDALAM INVESTMENT & FINANCE COMPANY LTD | 1.32% | Equity (common) | IN |
| — | TVS MOTOR CO LTD | 1.19% | Equity (common) | IN |
| — | ULTRATECH CEMENT LTD | 1.06% | Equity (common) | IN |
| — | CUMMINS INDIA LTD | 1.02% | Equity (common) | IN |
| — | LE TRAVENUES TECHNOLOGY LTD | 1.02% | Equity (common) | IN |
| — | CAMPUS ACTIVEWEAR LTD | 0.98% | Equity (common) | IN |
| — | SONA BLW PRECISION FORGINGS LTD | 0.98% | Equity (common) | IN |
| — | METROPOLIS HEALTHCARE LTD | 0.96% | Equity (common) | IN |
| — | LENSKART SOLUTIONS LTD | 0.95% | Equity (common) | IN |
| — | PRAJ INDUSTRIES LTD | 0.94% | Equity (common) | IN |
| — | INTERGLOBE AVIATION LTD | 0.84% | Equity (common) | IN |
| — | FEDERAL BANK LTD (THE) | 0.82% | Equity (common) | IN |
| — | AMRUTANJAN HEALTH CARE LTD | 0.79% | Equity (common) | IN |
| — | DELHIVERY LTD | 0.78% | Equity (common) | IN |
| — | SYRMA SGS TECHNOLOGY LTD | 0.75% | Equity (common) | IN |
| — | INFOSYS LTD | 0.71% | Equity (common) | IN |
| — | EICHER MOTORS LTD | 0.69% | Equity (common) | IN |
| — | CANARA HSBC LIFE INSURANCE CO LTD | 0.66% | Equity (common) | IN |
| — | GODREJ CONSUMER PRODUCTS LTD | 0.65% | Equity (common) | IN |
| — | AETHER INDUSTRIES LTD | 0.54% | Equity (common) | IN |
| — | MISHRA DHATU NIGAM LTD | 0.52% | Equity (common) | IN |
| — | NIPPON LIFE INDIA ASSET MANAGEMENT LTD | 0.52% | Equity (common) | IN |
| — | CG POWER AND INDUSTRIAL SOLUTIONS LTD | 0.52% | Equity (common) | IN |
| — | TITAN COMPANY LTD | 0.51% | Equity (common) | IN |
Geographic Breakdown
Chart
Seasonality
| Month | '23 | '24 | '25 | '26 | Avg |
|---|---|---|---|---|---|
| Jan | -- | 3.47% | -8.71% | -6.03% | -3.76% |
| Feb | -- | 0.97% | -6.63% | -1.38% | -2.35% |
| Mar | -- | -2.24% | 7.42% | -8.02% | -0.95% |
| Apr | -- | 2.36% | 5.40% | 5.85% | 4.54% |
| May | -- | -0.80% | 2.15% | 2.20% | 1.18% |
| Jun | -- | 3.66% | 2.24% | 8.35% | 4.75% |
| Jul | -- | 0.99% | -3.50% | 0.21% | -0.77% |
| Aug | -- | 3.31% | -0.92% | 1.10% | 1.16% |
| Sep | -1.09% | 1.29% | 0.05% | -4.27% | -1.00% |
| Oct | 2.62% | -5.47% | 2.66% | 0.25%* | 0.02% |
| Nov | 6.66% | -0.02% | 1.10% | -- | 2.58% |
| Dec | 2.23% | -2.56% | -2.94% | -- | -1.09% |
| Total | 10.68% | 4.62% | -2.87% | -2.86% | 2.39% |
* Only 4 year(s) of data available.
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $28.86
SMA 50: $29.44
SMA 200: $28.52
Current: $28.67
EMA 12: $28.90
EMA 26: $29.04
MACD: -0.1413 | Signal: 0.0403
BEARISH
ADX (14): 19.99
RANGE
+DI: 30.83
−DI: 48.99
Momentum Oscillators
RSI (14): 43.47
NEUTRAL
Stoch %K: 69.37
Stoch %D: 78.18
Williams %R: -47.91
Volume & Volatility
BB Upper: $29.38
BB Lower: $28.34
NEUTRAL
OBV: -857,957
Vol SMA 20: 1,822
Vol ROC: 9.37%
ATR: $0.27
True Range: $0.40
HV 20: 13.9%
HV 30: 16.3%
HV 60: 13.7%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-22T00:00:00 – 2026-10-21T00:00:00
AI Analysis
LLM Stock Analysis Report
Executive Summary
Overall Assessment: NEUTRAL (Confidence Level: 6/10)
Key Drivers and Primary Risks:
- Strong technical momentum signals, including a bullish MACD crossover
- Neutral RSI reading suggests no strong buy or sell pressure
- Low volatility reduces the risk of significant price movements
Investment Thesis: The stock is trading within a relatively tight range, with technical indicators suggesting a potential uptrend. However, the lack of recent news and low volatility may limit the stock's potential for significant price movements.
Recent News Sentiment Impact: No recent news headlines available, which reduces the impact on sentiment analysis.
Technical Analysis
Trend Direction:
- Short-term (1-4 weeks): Uptrend
- Medium-term (1-3 months): Neutral
- Long-term (3-12 months): Uptrend
Support/Resistance Levels:
- Upper Bollinger Band: $31.62
- Middle Bollinger Band: $30.38
- Lower Bollinger Band: $29.14
Momentum Signals:
- RSI (14): 58.18 (neutral)
- MACD: Bullish crossover with a signal line reading of 0.06 and a histogram value of 0.26
- Bollinger Bands: Neutral signal, with the price trading within the middle band
Volume Analysis: Volume trends suggest reduced interest from institutional investors, with an OBV reading of -555399.00.
News & Sentiment Analysis
Recent Headlines Summary: No recent news headlines available
Sentiment Assessment: Neutral sentiment due to lack of recent news
Catalyst Identification: No imminent catalysts identified
Market Narrative: The stock's technical momentum signals are not strongly influenced by recent news, suggesting a focus on internal market dynamics.
Risk & Volatility Assessment
Beta Interpretation: Low risk relative to the market, with a beta value of 0.28.
Volatility Regime: Low volatility, with an ATR reading of $0.22 and True Range of $0.02.
Options Market Signals: No options data available for analysis.
Downside Protection: Support levels are provided by the lower Bollinger Band at $29.14, which reduces the risk of significant price movements.
Market Context & Positioning
Sector Performance: The stock is trading in line with its sector's performance.
Institutional Activity: Reduced interest from institutional investors, as indicated by the OBV reading.
Correlation Analysis: Low correlation with the market, suggesting a relatively independent movement.
Relative Valuation: The stock trades within its historical range, suggesting no strong overvaluation or undervaluation.
Key Levels & Action Items
Critical Price Levels:
- Upper Bollinger Band: $31.62
- Middle Bollinger Band: $30.38
- Lower Bollinger Band: $29.14
Breakout/Breakdown Levels: No immediate levels identified, as the stock is trading within a relatively tight range.
Time-Sensitive Catalysts: No imminent catalysts identified
Risk Management: A stop-loss level at the lower Bollinger Band ($29.14) and position sizing considerations based on the stock's volatility profile.
By analyzing the provided data, this report concludes that the stock is trading within a relatively tight range, with technical indicators suggesting a potential uptrend. However, the lack of recent news and low volatility may limit the stock's potential for significant price movements.
Generated
News
All INDE news →
INDE Options Activity & IV Rank
Loading options activity...
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
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pts
EXTREME
ATM — / Wing —
30 DTE / 10d
—
—
pts
EXTREME
ATM — / Wing —
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)
IV Rank (30 DTE)
Straddle Price (30 DTE)
Beta Analysis
Risk Metrics
Beta: 0.8237
Alpha: -20.61%
Correlation: 0.5870
R-Squared: 34.5%
Stock Volatility: 17.9%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 249
Period: 252 trading days
Data Points: 249
Period: 252 trading days
Interpretation:
Moderate volatility - stock generally follows market
Moderate volatility - stock generally follows market
Beta & Alpha Over Time
INDE Institutional Ownership (13F)
Latest filings — 2026-06-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
| # | Filer | Notional Value | % of Total | Period |
|---|
| # | Filer | Notional Value | % of Total | Period |
|---|
INDE Constituent Performance
Click any bar to view the full quote for that stock.
INDE Constituents (1 of 1)
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|---|---|---|---|---|---|
| HDB | HDFC BANK LTD | 0.24% | $22.57 | -0.42% | -4.06% | -1.12% |