SMIN vs. INCO
SMIN (iShares MSCI India Small-Cap ETF) and INCO (Columbia India Consumer ETF) are both India Equities funds - SMIN tracks the MSCI India Small Cap Index while INCO tracks the Indxx India Consumer Index. Both are passively managed. Over the past 10 years, SMIN returned 9.04%/yr vs 8.23%/yr for INCO. Their 0.73 correlation means they have sometimes moved together and sometimes differently. SMIN charges 0.74%/yr vs 0.75%/yr for INCO.
Performance
SMIN vs. INCO - Performance Comparison
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Returns By Period
In the year-to-date period, SMIN achieves a 0.14% return, which is significantly higher than INCO's -5.05% return. Over the past 10 years, SMIN has outperformed INCO with an annualized return of 9.04%, while INCO has yielded a comparatively lower 8.23% annualized return.
SMIN
- 1D
- 0.36%
- 1M
- -1.13%
- 6M
- 6.30%
- YTD
- 0.14%
- 1Y
- -2.16%
- 3Y*
- 7.81%
- 5Y*
- 6.28%
- 10Y*
- 9.04%
- ALL TIME*
- 8.80%
INCO
- 1D
- -0.53%
- 1M
- 1.94%
- 6M
- 0.46%
- YTD
- -5.05%
- 1Y
- -3.01%
- 3Y*
- 7.79%
- 5Y*
- 7.56%
- 10Y*
- 8.23%
- ALL TIME*
- 9.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.47M | $2.13M | $2.03M | |
| $9.23M | $9.44M | $11.13M |
SMIN vs. INCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SMIN iShares MSCI India Small-Cap ETF | 0.14% | -6.68% | 16.78% | 35.41% | -14.23% | 44.43% | 19.59% | -5.21% | -25.55% | 62.36% |
INCO Columbia India Consumer ETF | -5.05% | 0.59% | 12.70% | 34.63% | -7.01% | 19.28% | 14.55% | -4.22% | -10.81% | 53.28% |
Correlation
The correlation between SMIN and INCO is 0.83, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.83 |
Correlation (3Y) Balances recent behavior with more history. | 0.75 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.79 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.79 |
Correlation (All Time) Calculated using the full available price history since Feb 9, 2012 | 0.73 |
The correlation between SMIN and INCO shifts across timeframes, from 0.73 (all time) to 0.83 (1 year), reflecting how their relationship changes across market environments.
SMIN vs. INCO - Sectors Allocation Comparison
Sectors
SMIN
INCO
Industrials
Financial Services
-
Healthcare
Consumer Cyclical
Basic Materials
-
Technology
Consumer Defensive
Real Estate
-
Utilities
-
Communication Services
-
Energy
-
Industrials
SMIN
INCO
Financial Services
SMIN
INCO
-
Healthcare
SMIN
INCO
Consumer Cyclical
SMIN
INCO
Basic Materials
SMIN
INCO
-
Technology
SMIN
INCO
Consumer Defensive
SMIN
INCO
Real Estate
SMIN
INCO
-
Utilities
SMIN
INCO
-
Communication Services
SMIN
INCO
-
Energy
SMIN
INCO
-
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Return for Risk
SMIN vs. INCO — Risk / Return Rank
SMIN
INCO
SMIN vs. INCO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India Small-Cap ETF (SMIN) and Columbia India Consumer ETF (INCO). 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 | INCO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.00 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | -0.11 | -0.09 | -0.03 |
| Martin ratioReturn relative to average drawdown | -0.29 | -0.19 | -0.10 |
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Drawdowns
SMIN vs. INCO - Drawdown Comparison
The maximum SMIN drawdown since its inception was -60.50%, which is greater than INCO's maximum drawdown of -47.69%. Use the drawdown chart below to compare losses from any high point for SMIN and INCO.
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Drawdown Indicators
| SMIN | INCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.50% | -47.69% | -12.81% |
Max Drawdown (1Y)Largest decline over 1 year | -21.99% | -21.37% | -0.62% |
Max Drawdown (3Y)Largest decline over 3 years | -27.58% | -29.98% | +2.40% |
Max Drawdown (5Y)Largest decline over 5 years | -27.58% | -29.98% | +2.40% |
Max Drawdown (10Y)Largest decline over 10 years | -60.50% | -47.69% | -12.81% |
Current DrawdownCurrent decline from peak | -12.42% | -19.14% | +6.72% |
Average DrawdownAverage peak-to-trough decline | -14.60% | -10.69% | -3.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.75% | 9.66% | -0.91% |
Volatility
SMIN vs. INCO - Volatility Comparison
iShares MSCI India Small-Cap ETF (SMIN) has a higher volatility of 4.91% compared to Columbia India Consumer ETF (INCO) at 3.96%. This indicates that SMIN's price experiences larger fluctuations and is considered to be riskier than INCO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMIN | INCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.91% | 3.96% | +0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 15.74% | 14.48% | +1.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.05% | 17.24% | +1.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.99% | 17.02% | +1.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.84% | 20.30% | +2.54% |
SMIN vs. INCO - Expense Ratio Comparison
SMIN has a 0.74% expense ratio, which is lower than INCO's 0.75% expense ratio.
Dividends
SMIN vs. INCO - Dividend Comparison
SMIN's dividend yield for the trailing twelve months is around 2.01%, while INCO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
INCO Columbia India Consumer ETF | 0.00% | 0.00% | 2.88% | 3.81% | 10.57% | 6.25% | 0.34% | 0.28% | 0.12% | 0.05% | 0.09% | 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 INCO have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMIN has higher volatility (4.91%) compared to INCO (3.96%). In terms of maximum drawdown, SMIN dropped -60.50% vs INCO's -47.69%.
On 10-year performance, SMIN leads with 9.04% vs 8.23% for INCO. On fees, SMIN is cheaper at 0.74% per year. On volatility, INCO has been the lower-risk option at 3.96%. 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 9.04% return vs 8.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SMIN is cheaper with a 0.74% expense ratio, compared with 0.75% for INCO.
SMIN has the higher dividend yield at 2.01%, compared with 0.00% for INCO.
SMIN tracks MSCI India Small Cap Index, while INCO tracks Indxx India Consumer Index. They also come from different issuers: iShares and Ameriprise Financial. Their fees differ too: 0.74% for SMIN and 0.75% for INCO.
INCO currently has the higher Sharpe Ratio (-0.11 vs -0.13), 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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