SMIN vs. INDY
Compare and contrast key facts about iShares MSCI India Small-Cap ETF (SMIN) and iShares India 50 ETF (INDY).
SMIN and INDY 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. INDY is a passively managed fund by iShares that tracks the performance of the S&P CNX Nifty Index. It was launched on Nov 18, 2009. Both SMIN and INDY 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. INDY - Performance Comparison
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SMIN vs. INDY - 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% |
INDY iShares India 50 ETF | -14.30% | 4.97% | 3.47% | 16.88% | -7.31% | 19.43% | 10.01% | 9.99% | -4.32% | 36.15% |
Returns By Period
The year-to-date returns for both stocks are quite close, with SMIN having a -14.23% return and INDY slightly lower at -14.30%. Over the past 10 years, SMIN has outperformed INDY with an annualized return of 8.88%, while INDY has yielded a comparatively lower 6.85% 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%
INDY
- 1D
- 3.10%
- 1M
- -10.49%
- YTD
- -14.30%
- 6M
- -10.15%
- 1Y
- -9.92%
- 3Y*
- 3.84%
- 5Y*
- 2.45%
- 10Y*
- 6.85%
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SMIN vs. INDY - Expense Ratio Comparison
SMIN has a 0.76% expense ratio, which is lower than INDY's 0.94% expense ratio.
Return for Risk
SMIN vs. INDY — Risk / Return Rank
SMIN
INDY
SMIN vs. INDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India Small-Cap ETF (SMIN) and iShares India 50 ETF (INDY). 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 | INDY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.52 | -0.67 | +0.15 |
Sortino ratioReturn per unit of downside risk | -0.62 | -0.90 | +0.28 |
Omega ratioGain probability vs. loss probability | 0.93 | 0.90 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | -0.41 | -0.51 | +0.10 |
Martin ratioReturn relative to average drawdown | -1.10 | -1.73 | +0.62 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SMIN | INDY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.52 | -0.67 | +0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | 0.16 | +0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 0.35 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.33 | 0.22 | +0.11 |
Correlation
The correlation between SMIN and INDY is 0.75, 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. INDY - Dividend Comparison
SMIN's dividend yield for the trailing twelve months is around 2.35%, less than INDY's 9.46% 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% |
INDY iShares India 50 ETF | 9.46% | 8.11% | 0.24% | 0.38% | 3.75% | 7.12% | 0.08% | 0.58% | 0.55% | 0.27% | 0.48% | 0.57% |
Drawdowns
SMIN vs. INDY - Drawdown Comparison
The maximum SMIN drawdown since its inception was -60.50%, which is greater than INDY's maximum drawdown of -44.74%. Use the drawdown chart below to compare losses from any high point for SMIN and INDY.
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Drawdown Indicators
| SMIN | INDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.50% | -44.74% | -15.76% |
Max Drawdown (1Y)Largest decline over 1 year | -24.54% | -18.95% | -5.59% |
Max Drawdown (5Y)Largest decline over 5 years | -27.58% | -22.40% | -5.18% |
Max Drawdown (10Y)Largest decline over 10 years | -60.50% | -43.50% | -17.00% |
Current DrawdownCurrent decline from peak | -24.99% | -19.99% | -5.00% |
Average DrawdownAverage peak-to-trough decline | -14.58% | -12.16% | -2.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.07% | 5.62% | +3.45% |
Volatility
SMIN vs. INDY - Volatility Comparison
iShares MSCI India Small-Cap ETF (SMIN) has a higher volatility of 7.92% compared to iShares India 50 ETF (INDY) at 7.32%. This indicates that SMIN's price experiences larger fluctuations and is considered to be riskier than INDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMIN | INDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.92% | 7.32% | +0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 13.73% | 10.91% | +2.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.61% | 14.85% | +4.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.88% | 15.05% | +3.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.77% | 19.62% | +3.15% |