India ETFs Show Resilience in Face of Covid-19 Resurgence May 28, 2021 India exchange traded funds have been rallying as investors look past the short-term Covid-19 crisis and consider long-term growth potential. Over the past month, the The MSCI India index has gained 10.6% so far this year, outperforming the broader emerging markets gauge, which is up 4.9%, the Wall Street Journal reports. “There is a huge cognitive dissonance between what markets are doing and what the far-more-dire reality is on the ground,” Vishnu Varathan, head of economics and strategy at Mizuho Bank, told the WSJ, adding that India’s stock indices reflected the performance of very large, well-connected, and usually financially strong companies.