SMIN vs. MMYT
SMIN (iShares MSCI India Small-Cap ETF) is India Equities fund tracking the MSCI India Small Cap Index, while MMYT (MakeMyTrip Limited) is a stock. Over the past 10 years, SMIN returned 9.04%/yr vs 11.94%/yr for MMYT. Their 0.26 correlation means their historical movements had little consistent relationship.
Performance
SMIN vs. MMYT - 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 MMYT's -30.65% return. Over the past 10 years, SMIN has underperformed MMYT with an annualized return of 9.04%, while MMYT has yielded a comparatively higher 11.94% 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%
MMYT
- 1D
- -0.23%
- 1M
- -2.27%
- 6M
- -8.70%
- YTD
- -30.65%
- 1Y
- -37.94%
- 3Y*
- 21.69%
- 5Y*
- 14.88%
- 10Y*
- 11.94%
- ALL TIME*
- 6.14%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $43.22M | $47.90M | $51.14M | |
| $9.23M | $9.44M | $11.13M |
SMIN vs. MMYT - 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% |
MMYT MakeMyTrip Limited | -30.65% | -26.86% | 139.00% | 70.40% | -0.51% | -6.16% | 28.95% | -5.88% | -18.49% | 34.46% |
Correlation
The correlation between SMIN and MMYT is 0.32, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.32 |
Correlation (3Y) Balances recent behavior with more history. | 0.29 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.34 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.30 |
Correlation (All Time) Calculated using the full available price history since Feb 9, 2012 | 0.26 |
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Return for Risk
SMIN vs. MMYT — Risk / Return Rank
SMIN
MMYT
SMIN vs. MMYT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India Small-Cap ETF (SMIN) and MakeMyTrip Limited (MMYT). 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 | MMYT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +0.86 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 0.89 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.11 | -0.61 | +0.49 |
| Martin ratioReturn relative to average drawdown | -0.29 | -0.98 | +0.70 |
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Drawdowns
SMIN vs. MMYT - Drawdown Comparison
The maximum SMIN drawdown since its inception was -60.50%, smaller than the maximum MMYT drawdown of -73.45%. Use the drawdown chart below to compare losses from any high point for SMIN and MMYT.
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Drawdown Indicators
| SMIN | MMYT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.50% | -73.45% | +12.95% |
Max Drawdown (1Y)Largest decline over 1 year | -21.99% | -64.83% | +42.84% |
Max Drawdown (3Y)Largest decline over 3 years | -27.58% | -69.87% | +42.29% |
Max Drawdown (5Y)Largest decline over 5 years | -27.58% | -69.87% | +42.29% |
Max Drawdown (10Y)Largest decline over 10 years | -60.50% | -73.45% | +12.95% |
Current DrawdownCurrent decline from peak | -12.42% | -52.72% | +40.30% |
Average DrawdownAverage peak-to-trough decline | -14.60% | -36.54% | +21.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.75% | 39.84% | -31.09% |
Volatility
SMIN vs. MMYT - Volatility Comparison
The current volatility for iShares MSCI India Small-Cap ETF (SMIN) is 4.91%, while MakeMyTrip Limited (MMYT) has a volatility of 16.77%. This indicates that SMIN experiences smaller price fluctuations and is considered to be less risky than MMYT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMIN | MMYT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.91% | 16.77% | -11.86% |
Volatility (6M)Calculated over the trailing 6-month period | 15.74% | 44.68% | -28.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.05% | 53.01% | -33.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.99% | 49.77% | -30.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.84% | 53.75% | -30.91% |
Dividends
SMIN vs. MMYT - Dividend Comparison
SMIN's dividend yield for the trailing twelve months is around 2.01%, while MMYT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MMYT MakeMyTrip Limited | 0.00% | 0.00% | 0.00% | 0.00% | 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 MMYT have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MMYT has higher volatility (16.77%) compared to SMIN (4.91%). In terms of maximum drawdown, SMIN dropped -60.50% vs MMYT's -73.45%.
SMIN currently has the higher Sharpe Ratio (-0.13 vs -0.74), 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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