SMIN vs. PIT
SMIN (iShares MSCI India Small-Cap ETF) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - SMIN is a Asia Pacific Equities fund tracking the MSCI India Small Cap Index, while PIT is a Commodities fund actively managed by VanEck. SMIN is passively managed, while PIT is actively managed. Over the past 3 years, SMIN returned 10.32%/yr vs 18.98%/yr for PIT. At a 0.02 correlation, their price movements are largely independent. SMIN charges 0.76%/yr vs 0.55%/yr for PIT.
Performance
SMIN vs. PIT - Performance Comparison
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Returns By Period
In the year-to-date period, SMIN achieves a -0.23% return, which is significantly lower than PIT's 25.62% return.
SMIN
- 1D
- -1.48%
- 1M
- 4.98%
- YTD
- -0.23%
- 6M
- -1.01%
- 1Y
- -4.08%
- 3Y*
- 10.32%
- 5Y*
- 7.50%
- 10Y*
- 10.28%
PIT
- 1D
- -1.32%
- 1M
- -11.78%
- YTD
- 25.62%
- 6M
- 23.58%
- 1Y
- 39.64%
- 3Y*
- 18.98%
- 5Y*
- —
- 10Y*
- —
SMIN vs. PIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SMIN iShares MSCI India Small-Cap ETF | -0.23% | -6.68% | 16.78% | 35.41% | -1.26% |
PIT VanEck Commodity Strategy ETF | 25.62% | 21.63% | 6.77% | -4.54% | 1.67% |
Correlation
The correlation between SMIN and PIT is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022 | 0.02 |
The correlation between SMIN and PIT shifts across timeframes, from -0.20 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SMIN vs. PIT — Risk / Return Rank
SMIN
PIT
SMIN vs. PIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India Small-Cap ETF (SMIN) and VanEck Commodity Strategy ETF (PIT). 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 | PIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.07 | ||
| Sortino ratioReturn per unit of downside risk | -2.59 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.33 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 2.62 | -2.79 |
| Martin ratioReturn relative to average drawdown | -0.37 | 10.88 | -11.25 |
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Drawdowns
SMIN vs. PIT - Drawdown Comparison
The maximum SMIN drawdown since its inception was -60.50%, which is greater than PIT's maximum drawdown of -15.19%. Use the drawdown chart below to compare losses from any high point for SMIN and PIT.
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Drawdown Indicators
| SMIN | PIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.50% | -15.19% | -45.31% |
Max Drawdown (1Y)Largest decline over 1 year | -24.54% | -15.19% | -9.35% |
Max Drawdown (3Y)Largest decline over 3 years | -27.58% | -15.19% | -12.39% |
Max Drawdown (5Y)Largest decline over 5 years | -27.58% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -60.50% | — | — |
Current DrawdownCurrent decline from peak | -12.74% | -15.19% | +2.45% |
Average DrawdownAverage peak-to-trough decline | -14.62% | -4.08% | -10.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.11% | 3.66% | +7.45% |
Volatility
SMIN vs. PIT - Volatility Comparison
iShares MSCI India Small-Cap ETF (SMIN) has a higher volatility of 5.74% compared to VanEck Commodity Strategy ETF (PIT) at 4.72%. This indicates that SMIN's price experiences larger fluctuations and is considered to be riskier than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMIN | PIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.74% | 4.72% | +1.02% |
Volatility (6M)Calculated over the trailing 6-month period | 15.96% | 19.40% | -3.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.89% | 21.66% | -2.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.93% | 17.50% | +1.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.85% | 17.50% | +5.35% |
SMIN vs. PIT - Expense Ratio Comparison
SMIN has a 0.76% expense ratio, which is higher than PIT's 0.55% expense ratio.
Dividends
SMIN vs. PIT - Dividend Comparison
SMIN's dividend yield for the trailing twelve months is around 2.02%, less than PIT's 7.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PIT VanEck Commodity Strategy ETF | 7.10% | 8.92% | 3.59% | 6.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SMIN iShares MSCI India Small-Cap ETF | 2.02% | 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 PIT have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMIN has higher volatility (5.74%) compared to PIT (4.72%). In terms of maximum drawdown, SMIN dropped -60.50% vs PIT's -15.19%.
On 3-year performance, PIT leads with 18.98% vs 10.32% for SMIN. On fees, PIT is cheaper at 0.55% per year. On volatility, PIT has been the lower-risk option at 4.72%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PIT has performed better with a 18.98% return vs 10.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PIT is cheaper with a 0.55% expense ratio, compared with 0.76% for SMIN.
PIT has the higher dividend yield at 7.10%, compared with 2.02% for SMIN.
SMIN is categorized as Asia Pacific Equities, while PIT is Commodities. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.76% for SMIN and 0.55% for PIT.
PIT currently has the higher Sharpe Ratio (1.85 vs -0.22), 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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