Start here if you're new
what it is
IFN is a closed-end fund that lets you buy a basket of Indian stocks through one NYSE-listed share.
how it gets paid
Last year India Fund made n/a in revenue. other sector holdings was the main engine at 36.3% net assets, or 36% of sales.
what just happened
Latest quarterly revenue was $1.53M, and the rest of the earnings picture is unusually thin.
At a glance
14.2% dividend yield — cash in your pocket every quarter
$0.02 fy2029 eps est
0.9 beta
~$575M market cap
Small Cap
xvary composite: 53/100 — below average
What they do
IFN is a closed-end fund that lets you buy a basket of Indian stocks through one NYSE-listed share.
IFN sells access, not magic. You buy one U.S.-listed share and get exposure to Indian equities, with financials alone at 30.6% of net assets. That convenience matters if you want India exposure without opening a foreign brokerage account.
How they make money
n/a
annual revenue
financials holdings
30.6% net assets
consumer discretionary holdings
15.2% net assets
communication services holdings
9.0% net assets
technology holdings
8.9% net assets
other sector holdings
36.3% net assets
The products that matter
portfolio exposure
Communication Services
~9% disclosed weight
This is one of the largest disclosed sleeves at roughly 9% of the portfolio mix shown here. In a non-diversified fund, even a single-digit weight can move the ride.
largest sleeve
portfolio exposure
Technology
~9% disclosed weight
Technology sits at about 8.9% of the disclosed mix. Close enough to communication services that this fund does not have one obvious sector hero from the data shown.
near-top weight
portfolio exposure
Materials
~8% disclosed weight
Materials accounts for about 7.6% of the disclosed allocation. That is meaningful, but still below the level where one holding bucket explains the whole thesis.
cyclical sleeve
Key numbers
14.2%
dividend yield
A 14.2% yield means most of your expected return is cash in your account, not a huge move in the share price.
7.1%
2025 return
The fund lost 7.1% over 12 months even with a solid fourth quarter for Indian equities, which tells you owning India was not enough by itself.
$16
18-month target
$16 is about 14.0% above the $14.04 share price, so your upside case is modest unless the payout keeps attracting buyers.
0.9
beta
Beta → a volatility score versus the market → so what: at 0.9, IFN has moved a bit less than the market overall.
Financial health
n/a
strength
- balance sheet grade n/a — not on this snapshot
- risk rank n/a
- price stability n/a
health data not available.
Total return vs. market
You invested $10,000 in IFN 3 years ago → it's now worth $12,420.
The index would have given you $13,880.
source: institutional data · total return
What just happened
missed estimates
Latest quarterly revenue was $1.53M, and the rest of the earnings picture is unusually thin.
Web data shows revenue for the quarter ended June 30, 2025 rose 17.28% vs. prior year to $1.53M. EPS and gross margin were not provided in the source set, which tells you this is a sparse-data story.
$1.53M
revenue
n/a
n/a
n/a
n/a
the number that mattered
$1.53M matters because it is the only hard quarterly operating figure in the source set, which leaves you leaning more on portfolio performance and payout policy.
-
the india fund struggled in 2025.
-
this occurred despite a solid performance for india-based equities in the fourth quarter.
-
for the 12-month period, the closed-end fund produced a total return of negative 7.1%, even when factoring in the impact of long-term distributions.there were a number of factors that weighed on the performance of india’s stock market and this country fund. the broad-based market was slowed by the rupee’s weakness against a basket of foreign currencies, disappointing corporate earnings growth earlier in the year, muted government spending and domestic consumption, and the stock market’s lack of exposure to the artificial intelligence (ai) trade. in addition, the increased u.s. tariffs on india’s exports to the united states after the countries failed to reach a new trade deal last year weighed some on the performance of india’s economy and stock market. not surprisingly, the india fund underperformed a number of its closed-end world equity fund peers in 2025.
-
india remains one of the fastest growing economies in the world.
-
the government predicts that india’s gross domestic product (gdp) will expand by 6.8%–7.2% in fiscal 2027. (fiscal years end march 31st.) that would follow a projected advance of 7.4% in current fiscal year.
source: web revenue data, quarter ended June 30, 2025
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What could go wrong
the #1 risk is single-country, non-diversified India exposure.
high
single-country concentration
The biggest disclosed sector sleeves range from about 7.0% to 9.0%, but they all sit inside one-country exposure. If Indian equities rerate lower, the whole wrapper feels it.
all disclosed buckets are linked to the same market backdrop
med
distribution sustainability
A 14.2% yield next to a $0.02 fy2029 EPS estimate is the quiet part loud. The payout may matter more than earnings, but it still needs scrutiny.
if the payout weakens, the main attraction weakens with it
med
closed-end fund discount risk
IFN can trade away from the value of its underlying holdings. This snapshot does not include NAV discount or premium data, which means one of the most important valuation levers is missing.
you can be right on India and still have the wrapper work against you
med
continued relative underperformance
IFN turned $10,000 into $12,420 over three years. The index reached $13,880. If that gap keeps widening, the case for this specific wrapper gets weaker.
same market window, worse outcome
The disclosed sector mix adds up to at least 53.8% across six buckets, and all of it still sits inside one-country exposure. Add a 14.2% yield and missing NAV discount data, and the risk here is structure as much as market.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
next portfolio or distribution update
Because IFN is a fund, the next meaningful read is any change in holdings, NAV context, or payout policy — not a product launch or an earnings beat.
metric
payout math
A 14.2% yield versus a $0.02 fy2029 EPS estimate is a clue. Treat the yield as something to investigate, not just admire.
trend
relative return gap
IFN reached $12,420 on a $10,000 starting point. The index got to $13,880. If that gap narrows, the story improves. If it widens, the wrapper is losing its argument.
risk
NAV discount or premium
This snapshot does not show it. You still need it. For a closed-end fund, that number can be the whole trade.
Analyst rankings
xvary composite
53 / 100
in human-speak, this screens below average.
3–5 year midpoint
$16
in human-speak, analysts see some upside, but not enough to rescue a weak thesis by itself.
beta
0.9
in human-speak, this should move a bit less than the market, not dramatically more.
source: institutional data
Institutional activity
institutions have been net buying for 2 consecutive quarters — 43 buyers vs. 26 sellers in 3q2025. total institutional holdings: 6.2M shares. net buying for 2 quarters.
source: institutional data
Price targets
3-5 year target range
$12
$19
$14
current price
$16
target midpoint · +10% from current · 3-5yr high: $19 (+35% · 19% ann'l return)
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