SMIN vs. IBIC
SMIN (iShares MSCI India Small-Cap ETF) and IBIC (iShares iBonds Oct 2026 Term TIPS ETF) are both exchange-traded funds - SMIN is a India Equities fund tracking the MSCI India Small Cap Index, while IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury Index. Both are passively managed. Over the past year, SMIN returned -6.48% vs 4.34% for IBIC. At a correlation of -0.04, they often move in opposite directions. SMIN charges 0.74%/yr vs 0.10%/yr for IBIC.
Performance
SMIN vs. IBIC - Performance Comparison
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Returns By Period
In the year-to-date period, SMIN achieves a 0.30% return, which is significantly lower than IBIC's 2.61% return.
SMIN
- 1D
- -1.21%
- 1M
- 4.52%
- 6M
- 3.12%
- YTD
- 0.30%
- 1Y
- -6.48%
- 3Y*
- 8.99%
- 5Y*
- 6.72%
- 10Y*
- 9.48%
IBIC
- 1D
- 0.06%
- 1M
- 0.25%
- 6M
- 2.51%
- YTD
- 2.61%
- 1Y
- 4.34%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMIN vs. IBIC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SMIN iShares MSCI India Small-Cap ETF | 0.30% | -6.68% | 16.78% | 9.55% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 2.61% | 4.96% | 5.25% | 2.17% |
Correlation
The correlation between SMIN and IBIC is -0.28, 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 | -0.28 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023 | -0.04 |
Over the past year, the inverse relationship between SMIN and IBIC has strengthened: their correlation has moved from -0.04 to -0.28, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
SMIN vs. IBIC — Risk / Return Rank
SMIN
IBIC
SMIN vs. IBIC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India Small-Cap ETF (SMIN) and iShares iBonds Oct 2026 Term TIPS ETF (IBIC). 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 | IBIC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.18 | ||
| Sortino ratioReturn per unit of downside risk | -9.07 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 2.18 | -1.22 |
| Calmar ratioReturn relative to maximum drawdown | -0.27 | 16.27 | -16.53 |
| Martin ratioReturn relative to average drawdown | -0.58 | 55.67 | -56.25 |
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Drawdowns
SMIN vs. IBIC - Drawdown Comparison
The maximum SMIN drawdown since its inception was -60.50%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for SMIN and IBIC.
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Drawdown Indicators
| SMIN | IBIC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.50% | -0.90% | -59.60% |
Max Drawdown (1Y)Largest decline over 1 year | -24.54% | -0.27% | -24.27% |
Max Drawdown (3Y)Largest decline over 3 years | -27.58% | — | — |
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 | -12.28% | -0.02% | -12.26% |
Average DrawdownAverage peak-to-trough decline | -14.61% | -0.10% | -14.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.27% | 0.08% | +11.19% |
Volatility
SMIN vs. IBIC - Volatility Comparison
iShares MSCI India Small-Cap ETF (SMIN) has a higher volatility of 5.69% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.29%. This indicates that SMIN's price experiences larger fluctuations and is considered to be riskier than IBIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMIN | IBIC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.69% | 0.29% | +5.40% |
Volatility (6M)Calculated over the trailing 6-month period | 15.96% | 0.68% | +15.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.09% | 0.90% | +18.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.96% | 1.56% | +17.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.84% | 1.56% | +21.28% |
SMIN vs. IBIC - Expense Ratio Comparison
SMIN has a 0.74% expense ratio, which is higher than IBIC's 0.10% expense ratio.
Dividends
SMIN vs. IBIC - Dividend Comparison
SMIN's dividend yield for the trailing twelve months is around 2.01%, less than IBIC's 4.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 4.62% | 4.43% | 4.65% | 0.83% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMIN iShares MSCI India Small-Cap ETF | 2.01% | 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 IBIC have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMIN has higher volatility (5.69%) compared to IBIC (0.29%). In terms of maximum drawdown, SMIN dropped -60.50% vs IBIC's -0.90%.
On 1-year performance, IBIC leads with 4.34% vs -6.48% for SMIN. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.29%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBIC has performed better with a 4.34% return vs -6.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIC is cheaper with a 0.10% expense ratio, compared with 0.74% for SMIN.
IBIC has the higher dividend yield at 4.62%, compared with 2.01% for SMIN.
SMIN is categorized as India Equities, while IBIC is Inflation-Protected Bonds. SMIN tracks MSCI India Small Cap Index, while IBIC tracks ICE 2026 Maturity US Inflation-Linked Treasury Index. Their fees differ too: 0.74% for SMIN and 0.10% for IBIC.
IBIC currently has the higher Sharpe Ratio (4.83 vs -0.34), 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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