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SMIN vs. MRK
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SMIN vs. MRK

Last updated Jun 14, 2026

SMIN (iShares MSCI India Small-Cap ETF) is Asia Pacific Equities fund tracking the MSCI India Small Cap Index, while MRK (Merck & Co., Inc.) is a stock. Over the past 10 years, SMIN returned 9.73%/yr vs 11.59%/yr for MRK. At a 0.20 correlation, their price movements are largely independent.

Performance

SMIN vs. MRK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI India Small-Cap ETF (SMIN) and Merck & Co., Inc. (MRK). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SMIN achieves a -4.03% return, which is significantly lower than MRK's 13.94% return. Over the past 10 years, SMIN has underperformed MRK with an annualized return of 9.73%, while MRK has yielded a comparatively higher 11.59% annualized return.

SMIN

1D
1.44%
1M
0.72%
YTD
-4.03%
6M
-1.54%
1Y
-8.33%
3Y*
8.94%
5Y*
6.19%
10Y*
9.73%

MRK

1D
-1.42%
1M
4.97%
YTD
13.94%
6M
20.60%
1Y
50.99%
3Y*
5.87%
5Y*
12.81%
10Y*
11.59%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SMIN vs. MRK - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SMIN
iShares MSCI India Small-Cap ETF		-4.03%-6.68%16.78%35.41%-14.23%44.43%19.59%-5.21%-25.55%62.36%
MRK
Merck & Co., Inc.		13.94%9.79%-6.26%1.01%49.42%1.75%-7.20%22.27%39.95%-1.49%

Correlation

The correlation between SMIN and MRK is 0.10, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.10

Correlation (3Y)
Calculated over the trailing 3-year period

0.11

Correlation (5Y)
Calculated over the trailing 5-year period

0.13

Correlation (10Y)
Calculated over the trailing 10-year period

0.16

Correlation (All Time)
Calculated using the full available price history since Feb 9, 2012

0.20

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares MSCI India Small-Cap ETF

Merck & Co., Inc.

Often compared with SMIN:
SMIN vs. INDASMIN vs. EPISMIN vs. FLINSMIN vs. NFTYSMIN vs. INCOSMIN vs. EWSSMIN vs. VOO
Often compared with MRK:
MRK vs. PFEMRK vs. NVOMRK vs. BMYMRK vs. ABBVMRK vs. AMGNMRK vs. VOOMRK vs. REGN

Return for Risk

SMIN vs. MRK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SMIN
SMIN Risk / Return Rank: 55
Overall Rank
SMIN Sharpe Ratio Rank: 55
Sharpe Ratio Rank
SMIN Sortino Ratio Rank: 55
Sortino Ratio Rank
SMIN Omega Ratio Rank: 55
Omega Ratio Rank
SMIN Calmar Ratio Rank: 66
Calmar Ratio Rank
SMIN Martin Ratio Rank: 66
Martin Ratio Rank
MRK
MRK Risk / Return Rank: 8888
Overall Rank
MRK Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
MRK Sortino Ratio Rank: 8888
Sortino Ratio Rank
MRK Omega Ratio Rank: 8585
Omega Ratio Rank
MRK Calmar Ratio Rank: 9191
Calmar Ratio Rank
MRK Martin Ratio Rank: 9090
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SMIN vs. MRK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India Small-Cap ETF (SMIN) and Merck & Co., Inc. (MRK). 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.

SMINMRKDifference
Sharpe ratioReturn per unit of total volatility
-0.51
1.88

-2.39

Sortino ratioReturn per unit of downside risk
-0.64
2.80

-3.44

Omega ratioGain probability vs. loss probability

0.93

1.33

-0.40

Calmar ratioReturn relative to maximum drawdown

-0.39

4.49

-4.88

Martin ratioReturn relative to average drawdown

-0.87

11.22

-12.08

SMIN vs. MRK - Sharpe Ratio Comparison

The current SMIN Sharpe Ratio is -0.51, which is lower than the MRK Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of SMIN and MRK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SMIN vs. MRK - Drawdown Comparison

The maximum SMIN drawdown since its inception was -60.50%, smaller than the maximum MRK drawdown of -68.61%. Use the drawdown chart below to compare losses from any high point for SMIN and MRK.

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Drawdown Indicators

SMINMRKDifference

Max Drawdown

Largest peak-to-trough decline

-60.50%

-68.61%

+8.11%

Max Drawdown (1Y)

Largest decline over 1 year

-24.54%

-11.37%

-13.17%

Max Drawdown (3Y)

Largest decline over 3 years

-27.58%

-43.44%

+15.86%

Max Drawdown (5Y)

Largest decline over 5 years

-27.58%

-43.44%

+15.86%

Max Drawdown (10Y)

Largest decline over 10 years

-60.50%

-43.44%

-17.06%

Current Drawdown

Current decline from peak

-16.07%

-5.03%

-11.04%

Average Drawdown

Average peak-to-trough decline

-14.62%

-18.83%

+4.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

11.01%

4.54%

+6.47%

Volatility

SMIN vs. MRK - Volatility Comparison

The current volatility for iShares MSCI India Small-Cap ETF (SMIN) is 4.86%, while Merck & Co., Inc. (MRK) has a volatility of 9.57%. This indicates that SMIN experiences smaller price fluctuations and is considered to be less risky than MRK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SMINMRKDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.86%

9.57%

-4.71%

Volatility (6M)

Calculated over the trailing 6-month period

15.58%

18.04%

-2.46%

Volatility (1Y)

Calculated over the trailing 1-year period

18.67%

27.18%

-8.51%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.88%

23.66%

-4.78%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.83%

22.96%

-0.13%

Dividends

SMIN vs. MRK - Dividend Comparison

SMIN's dividend yield for the trailing twelve months is around 2.10%, less than MRK's 2.79% yield.

PositionTTM20252024202320222021202020192018201720162015
MRK
Merck & Co., Inc.		2.79%3.12%3.14%2.72%2.52%3.41%3.03%2.48%2.60%3.36%3.14%3.43%
SMIN
iShares MSCI India Small-Cap ETF		2.10%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 MRK have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MRK has higher volatility (9.57%) compared to SMIN (4.86%). In terms of maximum drawdown, SMIN dropped -60.50% vs MRK's -68.61%.

MRK currently has the higher Sharpe Ratio (1.88 vs -0.51), 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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