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 Asia Pacific 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 -4.08% vs 4.42% for IBIC. At a correlation of -0.02, they often move in opposite directions. SMIN charges 0.76%/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 -0.23% return, which is significantly lower than IBIC's 2.43% 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%
IBIC
- 1D
- 0.04%
- 1M
- 0.12%
- YTD
- 2.43%
- 6M
- 2.57%
- 1Y
- 4.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMIN vs. IBIC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SMIN iShares MSCI India Small-Cap ETF | -0.23% | -6.68% | 16.78% | 9.55% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 2.43% | 4.96% | 5.25% | 2.17% |
Correlation
The correlation between SMIN and IBIC is -0.22, 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 | -0.22 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023 | -0.02 |
The correlation between SMIN and IBIC shifts across timeframes, from -0.22 (1 year) to -0.02 (all time), reflecting how their relationship changes across market environments.
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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 | -5.20 | ||
| Sortino ratioReturn per unit of downside risk | -9.16 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 2.22 | -1.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 16.56 | -16.73 |
| Martin ratioReturn relative to average drawdown | -0.37 | 58.67 | -59.04 |
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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 | -12.74% | -0.08% | -12.66% |
Average DrawdownAverage peak-to-trough decline | -14.62% | -0.10% | -14.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.11% | 0.08% | +11.03% |
Volatility
SMIN vs. IBIC - Volatility Comparison
iShares MSCI India Small-Cap ETF (SMIN) has a higher volatility of 5.74% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.17%. 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 | 5.74% | 0.17% | +5.57% |
Volatility (6M)Calculated over the trailing 6-month period | 15.96% | 0.67% | +15.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.89% | 0.89% | +18.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.93% | 1.56% | +17.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.85% | 1.56% | +21.29% |
SMIN vs. IBIC - Expense Ratio Comparison
SMIN has a 0.76% 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 2.02%, less than IBIC's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 3.58% | 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 | 2.02% | 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 IBIC have a correlation of -0.22, 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 IBIC (0.17%). In terms of maximum drawdown, SMIN dropped -60.50% vs IBIC's -0.90%.
On 1-year performance, IBIC leads with 4.42% vs -4.08% for SMIN. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.17%. 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 4.42% return vs -4.08%. 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 0.76% for SMIN.
IBIC has the higher dividend yield at 3.58%, compared with 2.02% for SMIN.
SMIN is categorized as Asia Pacific 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: 0.76% for SMIN and 0.10% for IBIC.
IBIC currently has the higher Sharpe Ratio (4.99 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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