OUSM vs. SMIN

Last updated Jun 23, 2026

OUSM (OShares U.S. Small-Cap Quality Dividend ETF) and SMIN (iShares MSCI India Small-Cap ETF) are both exchange-traded funds - OUSM is a Small Cap Blend Equities fund tracking the O'Shares US Small-Cap Quality Dividend Index, while SMIN is a Asia Pacific Equities fund tracking the MSCI India Small Cap Index. Both are passively managed. Over the past 5 years, OUSM returned 8.27%/yr vs 7.85%/yr for SMIN. At a 0.38 correlation, their price movements are largely independent. OUSM charges 0.48%/yr vs 0.76%/yr for SMIN.

Performance

OUSM vs. SMIN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in OShares U.S. Small-Cap Quality Dividend ETF (OUSM) and iShares MSCI India Small-Cap ETF (SMIN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OUSM achieves a 8.33% return, which is significantly higher than SMIN's 1.27% return.

OUSM

• 1D: 0.02%
• 1M: 1.06%
• YTD: 8.33%
• 6M: 6.41%
• 1Y: 13.79%
• 3Y*: 12.00%
• 5Y*: 8.27%
• 10Y*: —

SMIN

• 1D: 1.97%
• 1M: 6.56%
• YTD: 1.27%
• 6M: 1.49%
• 1Y: -1.36%
• 3Y*: 10.88%
• 5Y*: 7.85%
• 10Y*: 10.44%

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

OUSM vs. SMIN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OUSM OShares U.S. Small-Cap Quality Dividend ETF	8.33%	2.17%	13.45%	18.82%	-7.89%	21.45%	7.64%	28.04%	-10.60%	10.85%
SMIN iShares MSCI India Small-Cap ETF	1.27%	-6.68%	16.78%	35.41%	-14.23%	44.43%	19.59%	-5.21%	-25.55%	62.36%

Correlation

The correlation between OUSM and SMIN is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (All Time) Calculated using the full available price history since Dec 30, 2016	0.38

The correlation between OUSM and SMIN shifts across timeframes, from 0.27 (1 year) to 0.38 (5 years), reflecting how their relationship changes across market environments.

OUSM vs. SMIN - Sectors Allocation Comparison

Sectors	OUSM	SMIN
Industrials	22.2%	19.5%
Financial Services	20.4%	21.3%
Consumer Cyclical	19.5%	11.4%
Technology	14.5%	9.3%
Healthcare	9.9%	16.5%
Consumer Defensive	4.6%	1.4%
Utilities	3.8%	2.1%
Communication Services	3.5%	0.9%
Basic Materials	1.3%	8.4%
Energy	0.3%	1.3%
Real Estate	-	4.3%

Return for Risk

OUSM vs. SMIN — Risk / Return Rank

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

OUSM

OUSM Risk / Return Rank: 30
OUSM Sharpe Ratio Rank: 30
OUSM Sortino Ratio Rank: 32
OUSM Omega Ratio Rank: 28
OUSM Calmar Ratio Rank: 31
OUSM Martin Ratio Rank: 31

SMIN

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

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.

OUSM vs. SMIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for OShares U.S. Small-Cap Quality Dividend ETF (OUSM) 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.

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.

	OUSM	SMIN	Difference
Sharpe ratio: Return per unit of total volatility	1.05	-0.07	+1.12
Sortino ratio: Return per unit of downside risk	1.65	0.03	+1.62
Omega ratio: Gain probability vs. loss probability	1.19	1.00	+0.18
Calmar ratio: Return relative to maximum drawdown	1.50	-0.06	+1.56
Martin ratio: Return relative to average drawdown	4.39	-0.12	+4.51

OUSM vs. SMIN - Sharpe Ratio Comparison

The current OUSM Sharpe Ratio is 1.05, which is higher than the SMIN Sharpe Ratio of -0.07. The chart below compares the historical Sharpe Ratios of OUSM and SMIN, 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

OUSM vs. SMIN - Drawdown Comparison

The maximum OUSM drawdown since its inception was -39.84%, smaller than the maximum SMIN drawdown of -60.50%. Use the drawdown chart below to compare losses from any high point for OUSM and SMIN.

Drawdown Indicators

	OUSM	SMIN	Difference
Max Drawdown Largest peak-to-trough decline	-39.84%	-60.50%	+20.66%
Max Drawdown (1Y) Largest decline over 1 year	-9.21%	-24.54%	+15.33%
Max Drawdown (3Y) Largest decline over 3 years	-19.44%	-27.58%	+8.14%
Max Drawdown (5Y) Largest decline over 5 years	-19.44%	-27.58%	+8.14%
Max Drawdown (10Y) Largest decline over 10 years	—	-60.50%	—
Current Drawdown Current decline from peak	-0.35%	-11.43%	+11.08%
Average Drawdown Average peak-to-trough decline	-5.19%	-14.62%	+9.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	11.09%	-7.94%

Volatility

OUSM vs. SMIN - Volatility Comparison

The current volatility for OShares U.S. Small-Cap Quality Dividend ETF (OUSM) is 3.30%, while iShares MSCI India Small-Cap ETF (SMIN) has a volatility of 5.45%. This indicates that OUSM experiences smaller price fluctuations and is considered to be less risky than SMIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OUSM	SMIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.30%	5.45%	-2.15%
Volatility (6M) Calculated over the trailing 6-month period	9.33%	15.91%	-6.58%
Volatility (1Y) Calculated over the trailing 1-year period	13.19%	18.87%	-5.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.29%	18.92%	-2.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.91%	22.85%	-3.94%

OUSM vs. SMIN - Expense Ratio Comparison

OUSM has a 0.48% expense ratio, which is lower than SMIN's 0.76% expense ratio.

Dividends

OUSM vs. SMIN - Dividend Comparison

OUSM's dividend yield for the trailing twelve months is around 2.03%, more than SMIN's 1.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OUSM OShares U.S. Small-Cap Quality Dividend ETF	2.03%	2.09%	1.62%	1.64%	1.98%	1.55%	2.02%	1.99%	2.63%	2.17%	0.00%	0.00%
SMIN iShares MSCI India Small-Cap ETF	1.99%	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

Can I hold both OUSM and SMIN in my portfolio?

OUSM and SMIN have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OUSM or SMIN?

SMIN has higher volatility (5.45%) compared to OUSM (3.30%). In terms of maximum drawdown, OUSM dropped -39.84% vs SMIN's -60.50%.

Which ETF is better, OUSM or SMIN?

On 5-year performance, OUSM leads with 8.27% vs 7.85% for SMIN. On fees, OUSM is cheaper at 0.48% per year. On volatility, OUSM has been the lower-risk option at 3.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OUSM or SMIN?

Over the 5-year period, OUSM has performed better with a 8.27% return vs 7.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OUSM or SMIN?

OUSM is cheaper with a 0.48% expense ratio, compared with 0.76% for SMIN.

Which ETF pays a higher dividend yield, OUSM or SMIN?

OUSM has the higher dividend yield at 2.03%, compared with 1.99% for SMIN.

What is the main difference between OUSM and SMIN?

OUSM is categorized as Small Cap Blend Equities, while SMIN is Asia Pacific Equities. OUSM tracks O'Shares US Small-Cap Quality Dividend Index, while SMIN tracks MSCI India Small Cap Index. They also come from different issuers: O'Shares Investments and iShares. Their fees differ too: 0.48% for OUSM and 0.76% for SMIN.

Which has better risk-adjusted returns?

OUSM currently has the higher Sharpe Ratio (1.05 vs -0.07), 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.