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SMIN vs. EPP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SMIN vs. EPP

Last updated Jun 24, 2026

SMIN (iShares MSCI India Small-Cap ETF) and EPP (iShares MSCI Pacific ex Japan ETF) are both Asia Pacific Equities funds from iShares - SMIN tracks the MSCI India Small Cap Index while EPP tracks the MSCI Pacific ex-Japan Index. Both are passively managed. Over the past 10 years, SMIN returned 10.28%/yr vs 7.62%/yr for EPP. At a 0.45 correlation, their price movements are largely independent. SMIN charges 0.76%/yr vs 0.48%/yr for EPP.

Performance

SMIN vs. EPP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI India Small-Cap ETF (SMIN) and iShares MSCI Pacific ex Japan ETF (EPP). 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 -0.23% return, which is significantly lower than EPP's 6.84% return. Over the past 10 years, SMIN has outperformed EPP with an annualized return of 10.28%, while EPP has yielded a comparatively lower 7.62% annualized 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%

EPP

1D
-1.34%
1M
-1.93%
YTD
6.84%
6M
5.29%
1Y
13.95%
3Y*
12.66%
5Y*
4.60%
10Y*
7.62%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SMIN vs. EPP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SMIN
iShares MSCI India Small-Cap ETF		-0.23%-6.68%16.78%35.41%-14.23%44.43%19.59%-5.21%-25.55%62.36%
EPP
iShares MSCI Pacific ex Japan ETF		6.84%19.70%4.76%5.76%-6.59%4.26%6.04%18.30%-10.78%26.05%

Correlation

The correlation between SMIN and EPP is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.42

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

0.36

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

0.42

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

0.47

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

0.45

The correlation between SMIN and EPP shifts across timeframes, from 0.36 (3 years) to 0.47 (10 years), reflecting how their relationship changes across market environments.

SMIN vs. EPP - Sectors Allocation Comparison

Sectors
SMIN
EPP

Financial Services

21.3%
44.9%

Industrials

19.5%
8.5%

Healthcare

16.5%
3.3%

Consumer Cyclical

11.4%
6.2%

Technology

9.3%
1.0%

Basic Materials

8.4%
17.0%

Real Estate

4.3%
7.4%

Utilities

2.1%
3.5%

Consumer Defensive

1.4%
2.9%

Energy

1.3%
2.7%

Communication Services

0.9%
2.6%

Financial Services

SMIN
21.3%
EPP
44.9%

Industrials

SMIN
19.5%
EPP
8.5%

Healthcare

SMIN
16.5%
EPP
3.3%

Consumer Cyclical

SMIN
11.4%
EPP
6.2%

Technology

SMIN
9.3%
EPP
1.0%

Basic Materials

SMIN
8.4%
EPP
17.0%

Real Estate

SMIN
4.3%
EPP
7.4%

Utilities

SMIN
2.1%
EPP
3.5%

Consumer Defensive

SMIN
1.4%
EPP
2.9%

Energy

SMIN
1.3%
EPP
2.7%

Communication Services

SMIN
0.9%
EPP
2.6%

Compare stocks, funds, or ETFs

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iShares MSCI India Small-Cap ETF

iShares MSCI Pacific ex Japan ETF

Often compared with SMIN:
SMIN vs. INDASMIN vs. EPISMIN vs. FLINSMIN vs. INCOSMIN vs. NFTYSMIN vs. EWSSMIN vs. VOO
Often compared with EPP:
EPP vs. EWTEPP vs. AAXJEPP vs. BBAXEPP vs. EWHEPP vs. AIAEPP vs. EWYEPP vs. VPL

Return for Risk

SMIN vs. EPP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SMIN
SMIN Risk / Return Rank: 77
Overall Rank
SMIN Sharpe Ratio Rank: 77
Sharpe Ratio Rank
SMIN Sortino Ratio Rank: 66
Sortino Ratio Rank
SMIN Omega Ratio Rank: 66
Omega Ratio Rank
SMIN Calmar Ratio Rank: 77
Calmar Ratio Rank
SMIN Martin Ratio Rank: 77
Martin Ratio Rank
EPP
EPP Risk / Return Rank: 2929
Overall Rank
EPP Sharpe Ratio Rank: 2727
Sharpe Ratio Rank
EPP Sortino Ratio Rank: 2626
Sortino Ratio Rank
EPP Omega Ratio Rank: 2626
Omega Ratio Rank
EPP Calmar Ratio Rank: 3434
Calmar Ratio Rank
EPP Martin Ratio Rank: 3434
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. EPP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India Small-Cap ETF (SMIN) and iShares MSCI Pacific ex Japan ETF (EPP). 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.

SMINEPPDifference
Sharpe ratioReturn per unit of total volatility
-0.22
0.92

-1.14

Sortino ratioReturn per unit of downside risk
-0.19
1.36

-1.55

Omega ratioGain probability vs. loss probability

0.98

1.17

-0.19

Calmar ratioReturn relative to maximum drawdown

-0.17

1.59

-1.76

Martin ratioReturn relative to average drawdown

-0.37

4.68

-5.05

SMIN vs. EPP - Sharpe Ratio Comparison

The current SMIN Sharpe Ratio is -0.22, which is lower than the EPP Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of SMIN and EPP, 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. EPP - Drawdown Comparison

The maximum SMIN drawdown since its inception was -60.50%, smaller than the maximum EPP drawdown of -66.01%. Use the drawdown chart below to compare losses from any high point for SMIN and EPP.

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Drawdown Indicators

SMINEPPDifference

Max Drawdown

Largest peak-to-trough decline

-60.50%

-66.01%

+5.51%

Max Drawdown (1Y)

Largest decline over 1 year

-24.54%

-8.79%

-15.75%

Max Drawdown (3Y)

Largest decline over 3 years

-27.58%

-19.29%

-8.29%

Max Drawdown (5Y)

Largest decline over 5 years

-27.58%

-24.79%

-2.79%

Max Drawdown (10Y)

Largest decline over 10 years

-60.50%

-39.30%

-21.20%

Current Drawdown

Current decline from peak

-12.74%

-5.22%

-7.52%

Average Drawdown

Average peak-to-trough decline

-14.62%

-10.61%

-4.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

11.11%

2.99%

+8.12%

Volatility

SMIN vs. EPP - Volatility Comparison

iShares MSCI India Small-Cap ETF (SMIN) has a higher volatility of 5.74% compared to iShares MSCI Pacific ex Japan ETF (EPP) at 5.38%. This indicates that SMIN's price experiences larger fluctuations and is considered to be riskier than EPP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SMINEPPDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.74%

5.38%

+0.36%

Volatility (6M)

Calculated over the trailing 6-month period

15.96%

12.79%

+3.17%

Volatility (1Y)

Calculated over the trailing 1-year period

18.89%

15.18%

+3.71%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.93%

17.52%

+1.41%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.85%

19.06%

+3.79%

SMIN vs. EPP - Expense Ratio Comparison

SMIN has a 0.76% expense ratio, which is higher than EPP's 0.48% expense ratio.

Dividends

SMIN vs. EPP - Dividend Comparison

SMIN's dividend yield for the trailing twelve months is around 2.02%, less than EPP's 3.52% yield.

PositionTTM20252024202320222021202020192018201720162015
EPP
iShares MSCI Pacific ex Japan ETF		3.52%3.77%3.81%4.10%4.37%4.58%2.28%3.89%5.00%4.15%3.96%4.90%
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 EPP have a correlation of 0.42, 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 EPP (5.38%). In terms of maximum drawdown, SMIN dropped -60.50% vs EPP's -66.01%.

On 10-year performance, SMIN leads with 10.28% vs 7.62% for EPP. On fees, EPP is cheaper at 0.48% per year. On volatility, EPP has been the lower-risk option at 5.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SMIN has performed better with a 10.28% return vs 7.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

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

EPP has the higher dividend yield at 3.52%, compared with 2.02% for SMIN.

SMIN tracks MSCI India Small Cap Index, while EPP tracks MSCI Pacific ex-Japan Index. Their fees differ too: 0.76% for SMIN and 0.48% for EPP.

EPP currently has the higher Sharpe Ratio (0.92 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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