IBN vs. SMIN
IBN (ICICI Bank Limited) is a stock, while SMIN (iShares MSCI India Small-Cap ETF) is Asia Pacific Equities fund tracking the MSCI India Small Cap Index. Over the past 10 years, IBN returned 15.33%/yr vs 9.55%/yr for SMIN. A 0.54 correlation means they provide meaningful diversification when combined.
Performance
IBN vs. SMIN - Performance Comparison
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Returns By Period
In the year-to-date period, IBN achieves a -14.43% return, which is significantly lower than SMIN's -5.91% return. Over the past 10 years, IBN has outperformed SMIN with an annualized return of 15.33%, while SMIN has yielded a comparatively lower 9.55% annualized return.
IBN
- 1D
- 0.87%
- 1M
- -2.45%
- YTD
- -14.43%
- 6M
- -16.97%
- 1Y
- -23.64%
- 3Y*
- 4.21%
- 5Y*
- 8.01%
- 10Y*
- 15.33%
SMIN
- 1D
- -1.53%
- 1M
- -0.14%
- YTD
- -5.91%
- 6M
- -4.92%
- 1Y
- -9.92%
- 3Y*
- 9.23%
- 5Y*
- 6.06%
- 10Y*
- 9.55%
IBN vs. SMIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IBN ICICI Bank Limited | -14.43% | 0.57% | 26.32% | 9.80% | 11.27% | 33.57% | -1.52% | 47.01% | 6.25% | 44.03% |
SMIN iShares MSCI India Small-Cap ETF | -5.91% | -6.68% | 16.78% | 35.41% | -14.23% | 44.43% | 19.59% | -5.21% | -25.55% | 62.36% |
Correlation
The correlation between IBN and SMIN is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.49 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.41 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2012 | 0.54 |
The correlation between IBN and SMIN shifts across timeframes, from 0.41 (3 years) to 0.54 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IBN vs. SMIN — Risk / Return Rank
IBN
SMIN
IBN vs. SMIN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ICICI Bank Limited (IBN) and iShares MSCI India Small-Cap ETF (SMIN). 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.
| IBN | SMIN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -1.00 | ||
| Omega ratioGain probability vs. loss probability | 0.80 | 0.93 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | -0.91 | -0.41 | -0.50 |
| Martin ratioReturn relative to average drawdown | -1.79 | -0.92 | -0.87 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IBN | SMIN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.17 | -0.54 | -0.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | 0.32 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | 0.42 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.35 | -0.13 |
Drawdowns
IBN vs. SMIN - Drawdown Comparison
The maximum IBN drawdown since its inception was -86.09%, which is greater than SMIN's maximum drawdown of -60.50%. Use the drawdown chart below to compare losses from any high point for IBN and SMIN.
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Drawdown Indicators
| IBN | SMIN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.09% | -60.50% | -25.59% |
Max Drawdown (1Y)Largest decline over 1 year | -26.20% | -24.54% | -1.66% |
Max Drawdown (3Y)Largest decline over 3 years | -26.20% | -27.58% | +1.38% |
Max Drawdown (5Y)Largest decline over 5 years | -26.24% | -27.58% | +1.34% |
Max Drawdown (10Y)Largest decline over 10 years | -55.05% | -60.50% | +5.45% |
Current DrawdownCurrent decline from peak | -25.32% | -17.71% | -7.61% |
Average DrawdownAverage peak-to-trough decline | -28.01% | -14.62% | -13.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.22% | 10.79% | +2.43% |
Volatility
IBN vs. SMIN - Volatility Comparison
ICICI Bank Limited (IBN) and iShares MSCI India Small-Cap ETF (SMIN) have volatilities of 6.04% and 5.90%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBN | SMIN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.04% | 5.90% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 16.32% | 15.54% | +0.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.29% | 18.44% | +1.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.59% | 18.84% | +4.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.68% | 22.82% | +8.86% |
Dividends
IBN vs. SMIN - Dividend Comparison
IBN's dividend yield for the trailing twelve months is around 0.98%, less than SMIN's 2.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBN ICICI Bank Limited | 0.98% | 0.84% | 0.80% | 0.81% | 0.57% | 0.27% | 0.00% | 0.19% | 0.43% | 0.79% | 1.98% | 4.01% |
SMIN iShares MSCI India Small-Cap ETF | 2.14% | 2.01% | 6.84% | 0.41% | 0.01% | 1.27% | 1.06% | 1.75% | 1.68% | 0.89% | 2.30% | 0.93% |
Frequently Asked Questions
IBN and SMIN have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBN has higher volatility (6.04%) compared to SMIN (5.90%). In terms of maximum drawdown, IBN dropped -86.09% vs SMIN's -60.50%.
SMIN currently has the higher Sharpe Ratio (-0.54 vs -1.17), 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.
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