GLIN vs. ADIV

Last updated Jul 14, 2026

GLIN (VanEck Vectors India Growth Leaders ETF) and ADIV (SmartETFs Asia Pacific Dividend Builder ETF) are both exchange-traded funds - GLIN is a India Equities fund tracking the MarketGrader India All-Cap Growth Leaders Index, while ADIV is a Asia Pacific Equities fund actively managed by Guinness Atkinson Asset Management. GLIN is passively managed, while ADIV is actively managed. Over the past 5 years, GLIN returned 4.21%/yr vs 6.65%/yr for ADIV. At a 0.44 correlation, their price movements are largely independent. GLIN charges 0.82%/yr vs 0.78%/yr for ADIV.

Performance

GLIN vs. ADIV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors India Growth Leaders ETF (GLIN) and SmartETFs Asia Pacific Dividend Builder ETF (ADIV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GLIN achieves a -1.77% return, which is significantly lower than ADIV's 6.00% return.

GLIN

• 1D: -1.34%
• 1M: -0.18%
• 6M: -1.34%
• YTD: -1.77%
• 1Y: -3.09%
• 3Y*: 8.94%
• 5Y*: 4.21%
• 10Y*: 1.49%

ADIV

• 1D: -0.97%
• 1M: -1.15%
• 6M: 3.61%
• YTD: 6.00%
• 1Y: 9.56%
• 3Y*: 15.67%
• 5Y*: 6.65%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

GLIN vs. ADIV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GLIN VanEck Vectors India Growth Leaders ETF	-1.77%	-5.47%	15.64%	36.13%	-21.46%	25.93%
ADIV SmartETFs Asia Pacific Dividend Builder ETF	6.00%	21.86%	14.47%	12.28%	-18.00%	1.41%

Correlation

The correlation between GLIN and ADIV is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (All Time) Calculated using the full available price history since Mar 29, 2021	0.44

GLIN vs. ADIV - Sectors Allocation Comparison

Sectors	GLIN	ADIV
Financial Services	35.2%	31.8%
Industrials	21.1%	2.3%
Consumer Cyclical	14.6%	15.4%
Basic Materials	8.2%	-
Healthcare	7.9%	5.0%
Communication Services	5.1%	3.2%
Utilities	3.6%	2.4%
Energy	2.1%	-
Technology	2.0%	26.6%
Consumer Defensive	0.6%	5.1%
Real Estate	0.0%	8.3%

Return for Risk

GLIN vs. ADIV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GLIN

GLIN Risk / Return Rank: 7
GLIN Sharpe Ratio Rank: 8
GLIN Sortino Ratio Rank: 7
GLIN Omega Ratio Rank: 7
GLIN Calmar Ratio Rank: 7
GLIN Martin Ratio Rank: 6

ADIV

ADIV Risk / Return Rank: 24
ADIV Sharpe Ratio Rank: 24
ADIV Sortino Ratio Rank: 22
ADIV Omega Ratio Rank: 22
ADIV Calmar Ratio Rank: 25
ADIV Martin Ratio Rank: 27

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GLIN vs. ADIV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors India Growth Leaders ETF (GLIN) and SmartETFs Asia Pacific Dividend Builder ETF (ADIV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	GLIN	ADIV	Difference
Sharpe ratio: Return per unit of total volatility	-0.17	0.68	-0.85
Sortino ratio: Return per unit of downside risk	-0.12	1.04	-1.15
Omega ratio: Gain probability vs. loss probability	0.99	1.13	-0.14
Calmar ratio: Return relative to maximum drawdown	-0.18	0.95	-1.12
Martin ratio: Return relative to average drawdown	-0.59	2.94	-3.53

GLIN vs. ADIV - Sharpe Ratio Comparison

The current GLIN Sharpe Ratio is -0.17, which is lower than the ADIV Sharpe Ratio of 0.68. The chart below compares the historical Sharpe Ratios of GLIN and ADIV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GLIN vs. ADIV - Drawdown Comparison

The maximum GLIN drawdown since its inception was -79.36%, which is greater than ADIV's maximum drawdown of -31.55%. Use the drawdown chart below to compare losses from any high point for GLIN and ADIV.

Drawdown Indicators

	GLIN	ADIV	Difference
Max Drawdown Largest peak-to-trough decline	-79.36%	-31.55%	-47.81%
Max Drawdown (1Y) Largest decline over 1 year	-17.26%	-10.15%	-7.11%
Max Drawdown (3Y) Largest decline over 3 years	-26.77%	-18.53%	-8.24%
Max Drawdown (5Y) Largest decline over 5 years	-30.97%	-31.55%	+0.58%
Max Drawdown (10Y) Largest decline over 10 years	-74.80%	—	—
Current Drawdown Current decline from peak	-44.16%	-3.04%	-41.12%
Average Drawdown Average peak-to-trough decline	-50.91%	-8.34%	-42.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.23%	3.26%	+1.97%

Volatility

GLIN vs. ADIV - Volatility Comparison

VanEck Vectors India Growth Leaders ETF (GLIN) has a higher volatility of 5.79% compared to SmartETFs Asia Pacific Dividend Builder ETF (ADIV) at 4.91%. This indicates that GLIN's price experiences larger fluctuations and is considered to be riskier than ADIV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GLIN	ADIV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.79%	4.91%	+0.88%
Volatility (6M) Calculated over the trailing 6-month period	15.78%	11.59%	+4.19%
Volatility (1Y) Calculated over the trailing 1-year period	18.25%	14.09%	+4.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.36%	16.62%	+1.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.65%	16.40%	+7.25%

GLIN vs. ADIV - Expense Ratio Comparison

GLIN has a 0.82% expense ratio, which is higher than ADIV's 0.78% expense ratio.

Dividends

GLIN vs. ADIV - Dividend Comparison

GLIN's dividend yield for the trailing twelve months is around 0.86%, less than ADIV's 2.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADIV SmartETFs Asia Pacific Dividend Builder ETF	2.97%	2.77%	4.83%	4.55%	2.98%	13.85%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GLIN VanEck Vectors India Growth Leaders ETF	0.86%	0.84%	3.58%	0.96%	1.70%	0.00%	0.24%	1.42%	0.12%	0.10%	1.39%	3.11%

Frequently Asked Questions

Can I hold both GLIN and ADIV in my portfolio?

GLIN and ADIV have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GLIN or ADIV?

GLIN has higher volatility (5.79%) compared to ADIV (4.91%). In terms of maximum drawdown, GLIN dropped -79.36% vs ADIV's -31.55%.

Which ETF is better, GLIN or ADIV?

On 5-year performance, ADIV leads with 6.65% vs 4.21% for GLIN. On fees, ADIV is cheaper at 0.78% per year. On volatility, ADIV has been the lower-risk option at 4.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GLIN or ADIV?

Over the 5-year period, ADIV has performed better with a 6.65% return vs 4.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GLIN or ADIV?

ADIV is cheaper with a 0.78% expense ratio, compared with 0.82% for GLIN.

Which ETF pays a higher dividend yield, GLIN or ADIV?

ADIV has the higher dividend yield at 2.97%, compared with 0.86% for GLIN.

What is the main difference between GLIN and ADIV?

GLIN is categorized as India Equities, while ADIV is Asia Pacific Equities. They also come from different issuers: VanEck and Guinness Atkinson Asset Management. Their fees differ too: 0.82% for GLIN and 0.78% for ADIV.

Which has better risk-adjusted returns?

ADIV currently has the higher Sharpe Ratio (0.68 vs -0.17), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.