SMIN vs. GLIN

Last updated Apr 1, 2026

Compare and contrast key facts about iShares MSCI India Small-Cap ETF (SMIN) and VanEck Vectors India Growth Leaders ETF (GLIN).

SMIN and GLIN are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. GLIN is a passively managed fund by VanEck that tracks the performance of the MarketGrader India All-Cap Growth Leaders Index. It was launched on Aug 24, 2010. Both SMIN and GLIN are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

SMIN vs. GLIN - Performance Comparison

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

SMIN vs. GLIN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMIN iShares MSCI India Small-Cap ETF	-14.23%	-6.68%	16.78%	35.41%	-14.23%	44.43%	19.59%	-5.21%	-25.55%	62.36%
GLIN VanEck Vectors India Growth Leaders ETF	-12.04%	-5.47%	15.64%	36.13%	-21.46%	29.57%	-0.29%	-21.49%	-37.41%	66.53%

Returns By Period

In the year-to-date period, SMIN achieves a -14.23% return, which is significantly lower than GLIN's -12.04% return. Over the past 10 years, SMIN has outperformed GLIN with an annualized return of 8.88%, while GLIN has yielded a comparatively lower 1.38% annualized return.

SMIN

• 1D: 3.58%
• 1M: -9.81%
• YTD: -14.23%
• 6M: -14.68%
• 1Y: -10.13%
• 3Y*: 9.62%
• 5Y*: 5.94%
• 10Y*: 8.88%

GLIN

• 1D: 3.97%
• 1M: -12.80%
• YTD: -12.04%
• 6M: -8.42%
• 1Y: -4.60%
• 3Y*: 10.37%
• 5Y*: 4.95%
• 10Y*: 1.38%

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

SMIN vs. GLIN - Expense Ratio Comparison

SMIN has a 0.76% expense ratio, which is lower than GLIN's 0.82% expense ratio.

GLIN

VanEck Vectors India Growth Leaders ETF

SMIN

iShares MSCI India Small-Cap ETF

Return for Risk

SMIN vs. GLIN — Risk / Return Rank

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

SMIN

SMIN Risk / Return Rank: 4
SMIN Sharpe Ratio Rank: 4
SMIN Sortino Ratio Rank: 3
SMIN Omega Ratio Rank: 4
SMIN Calmar Ratio Rank: 6
SMIN Martin Ratio Rank: 4

GLIN

GLIN Risk / Return Rank: 7
GLIN Sharpe Ratio Rank: 7
GLIN Sortino Ratio Rank: 7
GLIN Omega Ratio Rank: 7
GLIN Calmar Ratio Rank: 8
GLIN Martin Ratio Rank: 6

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. GLIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India Small-Cap ETF (SMIN) and VanEck Vectors India Growth Leaders ETF (GLIN). 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.

	SMIN	GLIN	Difference
Sharpe ratio Return per unit of total volatility	-0.52	-0.25	-0.27
Sortino ratio Return per unit of downside risk	-0.62	-0.23	-0.39
Omega ratio Gain probability vs. loss probability	0.93	0.97	-0.04
Calmar ratio Return relative to maximum drawdown	-0.41	-0.24	-0.17
Martin ratio Return relative to average drawdown	-1.10	-0.78	-0.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMIN vs. GLIN - Sharpe Ratio Comparison

The current SMIN Sharpe Ratio is -0.52, which is lower than the GLIN Sharpe Ratio of -0.25. The chart below compares the historical Sharpe Ratios of SMIN and GLIN, 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

	SMIN	GLIN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.52	-0.25	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.28	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	0.06	+0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	-0.12	+0.44

Correlation

The correlation between SMIN and GLIN is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

SMIN vs. GLIN - Dividend Comparison

SMIN's dividend yield for the trailing twelve months is around 2.35%, more than GLIN's 0.96% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SMIN iShares MSCI India Small-Cap ETF	2.35%	2.01%	6.84%	0.41%	0.01%	1.27%	1.06%	1.75%	1.68%	0.89%	2.30%	0.93%
GLIN VanEck Vectors India Growth Leaders ETF	0.96%	0.84%	3.58%	0.96%	1.70%	0.00%	0.24%	1.42%	0.12%	0.10%	1.39%	3.11%

Drawdowns

SMIN vs. GLIN - Drawdown Comparison

The maximum SMIN drawdown since its inception was -60.50%, smaller than the maximum GLIN drawdown of -79.36%. Use the drawdown chart below to compare losses from any high point for SMIN and GLIN.

Drawdown Indicators

	SMIN	GLIN	Difference
Max Drawdown Largest peak-to-trough decline	-60.50%	-79.36%	+18.86%
Max Drawdown (1Y) Largest decline over 1 year	-24.54%	-18.56%	-5.98%
Max Drawdown (5Y) Largest decline over 5 years	-27.58%	-30.97%	+3.39%
Max Drawdown (10Y) Largest decline over 10 years	-60.50%	-74.80%	+14.30%
Current Drawdown Current decline from peak	-24.99%	-50.00%	+25.01%
Average Drawdown Average peak-to-trough decline	-14.58%	-51.04%	+36.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.07%	5.66%	+3.41%

Volatility

SMIN vs. GLIN - Volatility Comparison

iShares MSCI India Small-Cap ETF (SMIN) and VanEck Vectors India Growth Leaders ETF (GLIN) have volatilities of 7.92% and 7.95%, 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

	SMIN	GLIN	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.92%	7.95%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	13.73%	12.71%	+1.02%
Volatility (1Y) Calculated over the trailing 1-year period	19.61%	18.49%	+1.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.88%	17.94%	+0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.77%	23.62%	-0.85%