IBN vs. SMIN

Last updated Apr 2, 2026

Compare and contrast key facts about ICICI Bank Limited (IBN) and iShares MSCI India Small-Cap ETF (SMIN).

SMIN is a passively managed fund by iShares that tracks the performance of the MSCI India Small Cap Index. It was launched on Feb 8, 2012.

Performance

IBN vs. SMIN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ICICI Bank Limited (IBN) and iShares MSCI India Small-Cap ETF (SMIN). The values are adjusted to include any dividend payments, if applicable.

IBN vs. SMIN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IBN ICICI Bank Limited	-13.69%	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	-13.16%	-6.68%	16.78%	35.41%	-14.23%	44.43%	19.59%	-5.21%	-25.55%	62.36%

Returns By Period

The year-to-date returns for both investments are quite close, with IBN having a -13.69% return and SMIN slightly higher at -13.16%. Over the past 10 years, IBN has outperformed SMIN with an annualized return of 15.52%, while SMIN has yielded a comparatively lower 9.02% annualized return.

IBN

• 1D: -0.69%
• 1M: -14.89%
• YTD: -13.69%
• 6M: -15.78%
• 1Y: -16.74%
• 3Y*: 6.89%
• 5Y*: 10.40%
• 10Y*: 15.52%

SMIN

• 1D: 1.25%
• 1M: -6.17%
• YTD: -13.16%
• 6M: -14.76%
• 1Y: -9.28%
• 3Y*: 10.07%
• 5Y*: 6.21%
• 10Y*: 9.02%

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

Return for Risk

IBN vs. SMIN — Risk / Return Rank

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

IBN

IBN Risk / Return Rank: 10
IBN Sharpe Ratio Rank: 8
IBN Sortino Ratio Rank: 10
IBN Omega Ratio Rank: 11
IBN Calmar Ratio Rank: 17
IBN Martin Ratio Rank: 3

SMIN

SMIN Risk / Return Rank: 4
SMIN Sharpe Ratio Rank: 4
SMIN Sortino Ratio Rank: 4
SMIN Omega Ratio Rank: 4
SMIN Calmar Ratio Rank: 6
SMIN Martin Ratio Rank: 4

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.

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 ratio Return per unit of total volatility	-0.81	-0.47	-0.34
Sortino ratio Return per unit of downside risk	-1.07	-0.55	-0.52
Omega ratio Gain probability vs. loss probability	0.87	0.94	-0.07
Calmar ratio Return relative to maximum drawdown	-0.68	-0.37	-0.31
Martin ratio Return relative to average drawdown	-1.83	-0.98	-0.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBN vs. SMIN - Sharpe Ratio Comparison

The current IBN Sharpe Ratio is -0.81, which is lower than the SMIN Sharpe Ratio of -0.47. The chart below compares the historical Sharpe Ratios of IBN and SMIN, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IBN	SMIN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.81	-0.47	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.33	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.40	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.33	-0.10

Correlation

The correlation between IBN and SMIN is 0.54, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

IBN vs. SMIN - Dividend Comparison

IBN's dividend yield for the trailing twelve months is around 0.97%, less than SMIN's 2.32% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBN ICICI Bank Limited	0.97%	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	2.32%	2.01%	6.84%	0.41%	0.01%	1.27%	1.06%	1.75%	1.68%	0.89%	2.30%	0.93%

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.

Drawdown Indicators

	IBN	SMIN	Difference
Max Drawdown Largest 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 (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 Drawdown Current decline from peak	-24.68%	-24.05%	-0.63%
Average Drawdown Average peak-to-trough decline	-28.05%	-14.59%	-13.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.69%	9.16%	+0.53%

Volatility

IBN vs. SMIN - Volatility Comparison

ICICI Bank Limited (IBN) and iShares MSCI India Small-Cap ETF (SMIN) have volatilities of 8.23% and 7.91%, 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.

Volatility by Period

	IBN	SMIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.23%	7.91%	+0.32%
Volatility (6M) Calculated over the trailing 6-month period	16.16%	13.79%	+2.37%
Volatility (1Y) Calculated over the trailing 1-year period	20.76%	19.65%	+1.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.07%	18.87%	+5.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.96%	22.77%	+9.19%