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SMIN vs. HWM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SMIN vs. HWM

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 HWM (Howmet Aerospace Inc.) is a stock. Over the past 10 years, SMIN returned 9.73%/yr vs 33.28%/yr for HWM. At a 0.30 correlation, their price movements are largely independent.

Performance

SMIN vs. HWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI India Small-Cap ETF (SMIN) and Howmet Aerospace Inc. (HWM). 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 lower than HWM's 29.23% return. Over the past 10 years, SMIN has underperformed HWM with an annualized return of 9.73%, while HWM has yielded a comparatively higher 33.28% 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%

HWM

1D
0.03%
1M
-3.09%
YTD
29.23%
6M
33.60%
1Y
54.66%
3Y*
79.69%
5Y*
50.00%
10Y*
33.28%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SMIN vs. HWM - 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%
HWM
Howmet Aerospace Inc.		29.23%87.95%102.71%37.84%24.16%11.67%21.03%83.54%-37.43%48.40%

Correlation

The correlation between SMIN and HWM is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.17

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

0.22

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

0.31

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

0.31

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

0.30

The correlation between SMIN and HWM shifts across timeframes, from 0.17 (1 year) to 0.31 (5 years), reflecting how their relationship changes across market environments.

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iShares MSCI India Small-Cap ETF

Howmet Aerospace Inc.

Often compared with SMIN:
SMIN vs. INDASMIN vs. EPISMIN vs. FLINSMIN vs. NFTYSMIN vs. INCOSMIN vs. EWSSMIN vs. VOO
Often compared with HWM:
HWM vs. TDGHWM vs. HEI-AHWM vs. CBZHWM vs. TXTHWM vs. CAHHWM vs. AWIHWM vs. HLIO

Return for Risk

SMIN vs. HWM — 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
HWM
HWM Risk / Return Rank: 8585
Overall Rank
HWM Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
HWM Sortino Ratio Rank: 8585
Sortino Ratio Rank
HWM Omega Ratio Rank: 8181
Omega Ratio Rank
HWM Calmar Ratio Rank: 8787
Calmar Ratio Rank
HWM Martin Ratio Rank: 8888
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. HWM - Risk-Adjusted Trends Comparison

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

SMINHWMDifference
Sharpe ratioReturn per unit of total volatility
-0.51
1.75

-2.26

Sortino ratioReturn per unit of downside risk
-0.64
2.51

-3.15

Omega ratioGain probability vs. loss probability

0.93

1.30

-0.36

Calmar ratioReturn relative to maximum drawdown

-0.39

3.46

-3.85

Martin ratioReturn relative to average drawdown

-0.87

9.77

-10.64

SMIN vs. HWM - Sharpe Ratio Comparison

The current SMIN Sharpe Ratio is -0.51, which is lower than the HWM Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of SMIN and HWM, 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. HWM - Drawdown Comparison

The maximum SMIN drawdown since its inception was -60.50%, smaller than the maximum HWM drawdown of -88.30%. Use the drawdown chart below to compare losses from any high point for SMIN and HWM.

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Drawdown Indicators

SMINHWMDifference

Max Drawdown

Largest peak-to-trough decline

-60.50%

-88.30%

+27.80%

Max Drawdown (1Y)

Largest decline over 1 year

-24.54%

-15.89%

-8.65%

Max Drawdown (3Y)

Largest decline over 3 years

-27.58%

-19.41%

-8.17%

Max Drawdown (5Y)

Largest decline over 5 years

-27.58%

-21.61%

-5.97%

Max Drawdown (10Y)

Largest decline over 10 years

-60.50%

-64.81%

+4.31%

Current Drawdown

Current decline from peak

-16.07%

-3.26%

-12.81%

Average Drawdown

Average peak-to-trough decline

-14.62%

-31.00%

+16.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

11.01%

5.61%

+5.40%

Volatility

SMIN vs. HWM - Volatility Comparison

The current volatility for iShares MSCI India Small-Cap ETF (SMIN) is 4.86%, while Howmet Aerospace Inc. (HWM) has a volatility of 11.03%. This indicates that SMIN experiences smaller price fluctuations and is considered to be less risky than HWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SMINHWMDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.86%

11.03%

-6.17%

Volatility (6M)

Calculated over the trailing 6-month period

15.58%

25.03%

-9.45%

Volatility (1Y)

Calculated over the trailing 1-year period

18.67%

31.46%

-12.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.88%

32.20%

-13.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.83%

39.82%

-16.99%

Dividends

SMIN vs. HWM - Dividend Comparison

SMIN's dividend yield for the trailing twelve months is around 2.10%, more than HWM's 0.18% yield.

PositionTTM20252024202320222021202020192018201720162015
HWM
Howmet Aerospace Inc.		0.18%0.21%0.24%0.31%0.25%0.13%0.05%0.39%1.42%0.88%40.49%1.22%
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 HWM have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HWM has higher volatility (11.03%) compared to SMIN (4.86%). In terms of maximum drawdown, SMIN dropped -60.50% vs HWM's -88.30%.

HWM currently has the higher Sharpe Ratio (1.75 vs -0.51), 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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