SMIN vs. NOW

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 NOW (ServiceNow, Inc) is a stock. Over the past 10 years, SMIN returned 9.73%/yr vs 21.48%/yr for NOW. At a 0.24 correlation, their price movements are largely independent.

Performance

SMIN vs. NOW - Performance Comparison

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

Returns By Period

In the year-to-date period, SMIN achieves a -4.03% return, which is significantly higher than NOW's -33.32% return. Over the past 10 years, SMIN has underperformed NOW with an annualized return of 9.73%, while NOW has yielded a comparatively higher 21.48% 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%

NOW

• 1D: -0.90%
• 1M: 12.87%
• YTD: -33.32%
• 6M: -40.96%
• 1Y: -48.34%
• 3Y*: -2.72%
• 5Y*: 0.51%
• 10Y*: 21.48%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SMIN vs. NOW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
NOW ServiceNow, Inc	-33.32%	-27.75%	50.05%	81.96%	-40.18%	17.93%	94.97%	58.56%	36.55%	75.40%

Correlation

The correlation between SMIN and NOW is 0.07, 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	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jun 29, 2012	0.24

The correlation between SMIN and NOW shifts across timeframes, from 0.07 (1 year) to 0.27 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

SMIN vs. NOW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SMIN

SMIN Risk / Return Rank: 5
SMIN Sharpe Ratio Rank: 5
SMIN Sortino Ratio Rank: 5
SMIN Omega Ratio Rank: 5
SMIN Calmar Ratio Rank: 6
SMIN Martin Ratio Rank: 6

NOW

NOW Risk / Return Rank: 8
NOW Sharpe Ratio Rank: 5
NOW Sortino Ratio Rank: 7
NOW Omega Ratio Rank: 7
NOW Calmar Ratio Rank: 11
NOW Martin Ratio Rank: 8

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. NOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India Small-Cap ETF (SMIN) and ServiceNow, Inc (NOW). 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	NOW	Difference
Sharpe ratio: Return per unit of total volatility	-0.51	-0.99	+0.47
Sortino ratio: Return per unit of downside risk	-0.64	-1.44	+0.80
Omega ratio: Gain probability vs. loss probability	0.93	0.82	+0.11
Calmar ratio: Return relative to maximum drawdown	-0.39	-0.82	+0.43
Martin ratio: Return relative to average drawdown	-0.87	-1.45	+0.59

SMIN vs. NOW - Sharpe Ratio Comparison

The current SMIN Sharpe Ratio is -0.51, which is higher than the NOW Sharpe Ratio of -0.99. The chart below compares the historical Sharpe Ratios of SMIN and NOW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SMIN vs. NOW - Drawdown Comparison

The maximum SMIN drawdown since its inception was -60.50%, smaller than the maximum NOW drawdown of -64.54%. Use the drawdown chart below to compare losses from any high point for SMIN and NOW.

Drawdown Indicators

	SMIN	NOW	Difference
Max Drawdown Largest peak-to-trough decline	-60.50%	-64.54%	+4.04%
Max Drawdown (1Y) Largest decline over 1 year	-24.54%	-60.28%	+35.74%
Max Drawdown (3Y) Largest decline over 3 years	-27.58%	-64.54%	+36.96%
Max Drawdown (5Y) Largest decline over 5 years	-27.58%	-64.54%	+36.96%
Max Drawdown (10Y) Largest decline over 10 years	-60.50%	-64.54%	+4.04%
Current Drawdown Current decline from peak	-16.07%	-56.36%	+40.29%
Average Drawdown Average peak-to-trough decline	-14.62%	-13.78%	-0.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.01%	34.02%	-23.01%

Volatility

SMIN vs. NOW - Volatility Comparison

The current volatility for iShares MSCI India Small-Cap ETF (SMIN) is 4.86%, while ServiceNow, Inc (NOW) has a volatility of 25.56%. This indicates that SMIN experiences smaller price fluctuations and is considered to be less risky than NOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMIN	NOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.86%	25.56%	-20.70%
Volatility (6M) Calculated over the trailing 6-month period	15.58%	47.01%	-31.43%
Volatility (1Y) Calculated over the trailing 1-year period	18.67%	50.12%	-31.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.88%	43.44%	-24.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.83%	40.86%	-18.03%

Dividends

SMIN vs. NOW - Dividend Comparison

SMIN's dividend yield for the trailing twelve months is around 2.10%, while NOW has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NOW ServiceNow, Inc	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	2.10%	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

Can I hold both SMIN and NOW in my portfolio?

SMIN and NOW have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMIN or NOW?

NOW has higher volatility (25.56%) compared to SMIN (4.86%). In terms of maximum drawdown, SMIN dropped -60.50% vs NOW's -64.54%.

Which has better risk-adjusted returns?

SMIN currently has the higher Sharpe Ratio (-0.51 vs -0.99), 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.