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SMIN vs. CRM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SMIN vs. CRM

Last updated Jun 14, 2026

SMIN (iShares MSCI India Small-Cap ETF) is Asia Pacific Equities fund tracking the MSCI India Small Cap Index, while CRM (Salesforce, Inc.) is a stock. Over the past 10 years, SMIN returned 9.73%/yr vs 7.60%/yr for CRM. At a 0.25 correlation, their price movements are largely independent.

Performance

SMIN vs. CRM - Performance Comparison

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

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Returns By Period

In the year-to-date period, SMIN achieves a -4.03% return, which is significantly higher than CRM's -37.06% return. Over the past 10 years, SMIN has outperformed CRM with an annualized return of 9.73%, while CRM has yielded a comparatively lower 7.60% annualized return.

SMIN

1D
1.44%
1M
0.72%
YTD
-4.03%
6M
-1.54%
1Y
-8.33%
3Y*
8.94%
5Y*
6.19%
10Y*
9.73%

CRM

1D
-0.34%
1M
-0.75%
YTD
-37.06%
6M
-36.31%
1Y
-35.16%
3Y*
-6.88%
5Y*
-6.82%
10Y*
7.60%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SMIN vs. CRM - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SMIN
iShares MSCI India Small-Cap ETF		-4.03%-6.68%16.78%35.41%-14.23%44.43%19.59%-5.21%-25.55%62.36%
CRM
Salesforce, Inc.		-37.06%-20.25%27.76%98.46%-47.83%14.20%36.82%18.74%33.98%49.33%

Correlation

The correlation between SMIN and CRM is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.03

Correlation (3Y)
Calculated over the trailing 3-year period

0.12

Correlation (5Y)
Calculated over the trailing 5-year period

0.23

Correlation (10Y)
Calculated over the trailing 10-year period

0.27

Correlation (All Time)
Calculated using the full available price history since Feb 9, 2012

0.25

Over the past year, the correlation between SMIN and CRM has dropped to 0.03 - well below their long-term average of 0.25, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI India Small-Cap ETF

Salesforce, Inc.

Often compared with SMIN:
SMIN vs. INDASMIN vs. EPISMIN vs. FLINSMIN vs. NFTYSMIN vs. INCOSMIN vs. EWSSMIN vs. VOO
Often compared with CRM:
CRM vs. NOWCRM vs. SPYCRM vs. WDAYCRM vs. UNHCRM vs. ANETCRM vs. QQQCRM vs. SHOP

Return for Risk

SMIN vs. CRM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SMIN
SMIN Risk / Return Rank: 55
Overall Rank
SMIN Sharpe Ratio Rank: 55
Sharpe Ratio Rank
SMIN Sortino Ratio Rank: 55
Sortino Ratio Rank
SMIN Omega Ratio Rank: 55
Omega Ratio Rank
SMIN Calmar Ratio Rank: 66
Calmar Ratio Rank
SMIN Martin Ratio Rank: 66
Martin Ratio Rank
CRM
CRM Risk / Return Rank: 66
Overall Rank
CRM Sharpe Ratio Rank: 66
Sharpe Ratio Rank
CRM Sortino Ratio Rank: 88
Sortino Ratio Rank
CRM Omega Ratio Rank: 99
Omega Ratio Rank
CRM Calmar Ratio Rank: 44
Calmar Ratio Rank
CRM Martin Ratio Rank: 22
Martin Ratio Rank
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.

SMIN vs. CRM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India Small-Cap ETF (SMIN) and Salesforce, Inc. (CRM). 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.

SMINCRMDifference
Sharpe ratioReturn per unit of total volatility
-0.51
-0.98

+0.47

Sortino ratioReturn per unit of downside risk
-0.64
-1.38

+0.73

Omega ratioGain probability vs. loss probability

0.93

0.84

+0.09

Calmar ratioReturn relative to maximum drawdown

-0.39

-0.95

+0.56

Martin ratioReturn relative to average drawdown

-0.87

-1.78

+0.92

SMIN vs. CRM - Sharpe Ratio Comparison

The current SMIN Sharpe Ratio is -0.51, which is higher than the CRM Sharpe Ratio of -0.98. The chart below compares the historical Sharpe Ratios of SMIN and CRM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SMIN vs. CRM - Drawdown Comparison

The maximum SMIN drawdown since its inception was -60.50%, smaller than the maximum CRM drawdown of -70.50%. Use the drawdown chart below to compare losses from any high point for SMIN and CRM.

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Drawdown Indicators

SMINCRMDifference

Max Drawdown

Largest peak-to-trough decline

-60.50%

-70.50%

+10.00%

Max Drawdown (1Y)

Largest decline over 1 year

-24.54%

-39.36%

+14.82%

Max Drawdown (3Y)

Largest decline over 3 years

-27.58%

-54.70%

+27.12%

Max Drawdown (5Y)

Largest decline over 5 years

-27.58%

-58.62%

+31.04%

Max Drawdown (10Y)

Largest decline over 10 years

-60.50%

-58.62%

-1.88%

Current Drawdown

Current decline from peak

-16.07%

-54.33%

+38.26%

Average Drawdown

Average peak-to-trough decline

-14.62%

-16.15%

+1.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

11.01%

20.92%

-9.91%

Volatility

SMIN vs. CRM - Volatility Comparison

The current volatility for iShares MSCI India Small-Cap ETF (SMIN) is 4.86%, while Salesforce, Inc. (CRM) has a volatility of 16.76%. This indicates that SMIN experiences smaller price fluctuations and is considered to be less risky than CRM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SMINCRMDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.86%

16.76%

-11.90%

Volatility (6M)

Calculated over the trailing 6-month period

15.58%

31.59%

-16.01%

Volatility (1Y)

Calculated over the trailing 1-year period

18.67%

38.09%

-19.42%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.88%

37.07%

-18.19%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.83%

35.38%

-12.55%

Dividends

SMIN vs. CRM - Dividend Comparison

SMIN's dividend yield for the trailing twelve months is around 2.10%, more than CRM's 1.28% yield.

PositionTTM20252024202320222021202020192018201720162015
CRM
Salesforce, Inc.		1.28%0.63%0.48%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
SMIN
iShares MSCI India Small-Cap ETF		2.10%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 CRM have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

CRM has higher volatility (16.76%) compared to SMIN (4.86%). In terms of maximum drawdown, SMIN dropped -60.50% vs CRM's -70.50%.

SMIN currently has the higher Sharpe Ratio (-0.51 vs -0.98), 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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