Columbia India Consumer ETF

Columbia India Consumer ETF (INCO) tracks the Indxx India Consumer Index. It holds about 30 Indian companies that make cars and motorcycles, packaged food, drinks and household goods, or run shops and consumer services. It is built around Indian consumer spending rather than the whole Indian market. The focus has a price: its 0.75% expense ratio is above the 0.68% average for similar India funds and well above Franklin FTSE India ETF's 0.19%.

• Over the year to Oct 27, 2026, INCO returned -14.0%, 3rd of 7 among similar funds.
• Its 5-year annualized return was +4.2% and its 10-year +7.4%.
• In the 2020 COVID crash it fell 37.5% and regained its old high 5.1 months after the low.
• Its worst full calendar year was 2018 (-10.8%); its best was 2017 (+53.3%).
• The deepest fall in its price history was 47.7% (Jan 5, 2018 to Mar 23, 2020), recovered by Jan 12, 2021.

As of Jun 30, 2026, the fund held 30 securities; the ten largest made up 49.02% of assets.

• Over the three months to Jun 30, 2026, investors withdrew a net $11.6M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +10.41%, -0.37%, +1.38%.

INCO is an index fund from Columbia, part of Ameriprise Financial. It tries to match the price and yield performance of the Indxx India Consumer Index, before fees. It does this by holding the index's stocks as closely as it can. Under normal conditions at least 80% of net assets, and usually at least 95%, go into Indian consumer companies in the index. The prospectus defines these as businesses in autos and parts, beverages, food, household and personal goods, leisure goods, food and drug retail, general retail, media, travel and leisure, and tobacco.

The fund can own large, mid-size and small companies. It buys shares on Indian exchanges or depositary receipts, which are certificates traded abroad that stand for the local shares. As of March 31, 2026, the index was concentrated in consumer discretionary and consumer staples stocks. The fund can also be non-diversified, which means it may put more of its money into fewer companies than a diversified fund would. As of June 30, 2026, it held 30 stocks, and the 10 largest made up about 49% of assets.

Most of the fund's assets are priced in Indian rupees, so a weaker rupee against the dollar lowers returns for US holders, and a stronger rupee raises them. The fund held no derivatives as of June 30, 2026. Portfolio turnover was 20%, which is fairly low trading.

• INCO charges 0.75% a year, versus an average of 0.68% for the similar funds below (3rd of 7, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $77 in the first year and $930 over 10 years (assuming a 5% annual return).

It is a narrow, single-country bet on Indian consumer stocks, with deep past drops and no income, so it fits best as a small add-on to a broader portfolio.

INCO could add exposure to Indian household spending through companies such as Nestle India, Titan and Maruti Suzuki. The ride has been rough at times. The fund launched in 2011, so it has no record from the 2008 crisis. It fell 37.5% in the 2020 COVID crash and got back to its earlier peak by August 2020. In 2022 it dropped 20.1% between January and March and took about 15 months to recover. Its worst calendar year was 2018, when it lost 11.56%. Its deepest drop was 47.7%, from January 2018 to March 2020, and it did not fully recover until January 2021. Anyone who had to sell during a slump like that would have locked in large losses. It made no distributions in the 12 months to October 27, 2026, so it does not provide income. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.

Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).