SMIN vs. CMDT
SMIN (iShares MSCI India Small-Cap ETF) and CMDT (PIMCO Commodity Strategy Active Exchange-Traded Fund) are both exchange-traded funds - SMIN is a Asia Pacific Equities fund tracking the MSCI India Small Cap Index, while CMDT is a Commodities fund tracking the Bloomberg Roll Select Commodity Total Return Index. Both are passively managed. Over the past 3 years, SMIN returned 10.32%/yr vs 12.77%/yr for CMDT. At a 0.01 correlation, their price movements are largely independent. SMIN charges 0.76%/yr vs 0.65%/yr for CMDT.
Performance
SMIN vs. CMDT - Performance Comparison
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Returns By Period
In the year-to-date period, SMIN achieves a -0.23% return, which is significantly lower than CMDT's 13.43% return.
SMIN
- 1D
- -1.48%
- 1M
- 4.98%
- YTD
- -0.23%
- 6M
- -1.01%
- 1Y
- -4.08%
- 3Y*
- 10.32%
- 5Y*
- 7.50%
- 10Y*
- 10.28%
CMDT
- 1D
- -1.14%
- 1M
- -8.86%
- YTD
- 13.43%
- 6M
- 13.42%
- 1Y
- 21.34%
- 3Y*
- 12.77%
- 5Y*
- —
- 10Y*
- —
SMIN vs. CMDT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SMIN iShares MSCI India Small-Cap ETF | -0.23% | -6.68% | 16.78% | 31.80% |
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund | 13.43% | 12.78% | 6.93% | 5.37% |
Correlation
The correlation between SMIN and CMDT is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since May 10, 2023 | 0.01 |
The correlation between SMIN and CMDT shifts across timeframes, from -0.16 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SMIN vs. CMDT — Risk / Return Rank
SMIN
CMDT
SMIN vs. CMDT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India Small-Cap ETF (SMIN) and PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT). 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.
| SMIN | CMDT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.93 | ||
| Sortino ratioReturn per unit of downside risk | -2.58 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.29 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 1.93 | -2.10 |
| Martin ratioReturn relative to average drawdown | -0.37 | 9.62 | -9.99 |
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Drawdowns
SMIN vs. CMDT - Drawdown Comparison
The maximum SMIN drawdown since its inception was -60.50%, which is greater than CMDT's maximum drawdown of -11.11%. Use the drawdown chart below to compare losses from any high point for SMIN and CMDT.
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Drawdown Indicators
| SMIN | CMDT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.50% | -11.11% | -49.39% |
Max Drawdown (1Y)Largest decline over 1 year | -24.54% | -11.11% | -13.43% |
Max Drawdown (3Y)Largest decline over 3 years | -27.58% | -11.11% | -16.47% |
Max Drawdown (5Y)Largest decline over 5 years | -27.58% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -60.50% | — | — |
Current DrawdownCurrent decline from peak | -12.74% | -11.11% | -1.63% |
Average DrawdownAverage peak-to-trough decline | -14.62% | -2.77% | -11.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.11% | 2.25% | +8.86% |
Volatility
SMIN vs. CMDT - Volatility Comparison
iShares MSCI India Small-Cap ETF (SMIN) has a higher volatility of 5.74% compared to PIMCO Commodity Strategy Active Exchange-Traded Fund (CMDT) at 3.26%. This indicates that SMIN's price experiences larger fluctuations and is considered to be riskier than CMDT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMIN | CMDT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.74% | 3.26% | +2.48% |
Volatility (6M)Calculated over the trailing 6-month period | 15.96% | 10.60% | +5.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.89% | 12.65% | +6.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.93% | 12.24% | +6.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.85% | 12.24% | +10.61% |
SMIN vs. CMDT - Expense Ratio Comparison
SMIN has a 0.76% expense ratio, which is higher than CMDT's 0.65% expense ratio.
Dividends
SMIN vs. CMDT - Dividend Comparison
SMIN's dividend yield for the trailing twelve months is around 2.02%, less than CMDT's 2.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMDT PIMCO Commodity Strategy Active Exchange-Traded Fund | 2.67% | 3.04% | 8.80% | 2.71% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMIN iShares MSCI India Small-Cap ETF | 2.02% | 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
SMIN and CMDT have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMIN has higher volatility (5.74%) compared to CMDT (3.26%). In terms of maximum drawdown, SMIN dropped -60.50% vs CMDT's -11.11%.
On 3-year performance, CMDT leads with 12.77% vs 10.32% for SMIN. On fees, CMDT is cheaper at 0.65% per year. On volatility, CMDT has been the lower-risk option at 3.26%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CMDT has performed better with a 12.77% return vs 10.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CMDT is cheaper with a 0.65% expense ratio, compared with 0.76% for SMIN.
CMDT has the higher dividend yield at 2.67%, compared with 2.02% for SMIN.
SMIN is categorized as Asia Pacific Equities, while CMDT is Commodities. SMIN tracks MSCI India Small Cap Index, while CMDT tracks Bloomberg Roll Select Commodity Total Return Index. They also come from different issuers: iShares and PIMCO. Their fees differ too: 0.76% for SMIN and 0.65% for CMDT.
CMDT currently has the higher Sharpe Ratio (1.71 vs -0.22), 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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