SMIN vs. TSM
SMIN (iShares MSCI India Small-Cap ETF) is Asia Pacific Equities fund tracking the MSCI India Small Cap Index, while TSM (Taiwan Semiconductor Manufacturing Company Limited) is a stock. Over the past 10 years, SMIN returned 9.73%/yr vs 35.80%/yr for TSM. At a 0.33 correlation, their price movements are largely independent.
Performance
SMIN vs. TSM - Performance Comparison
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Returns By Period
In the year-to-date period, SMIN achieves a -4.03% return, which is significantly lower than TSM's 40.22% return. Over the past 10 years, SMIN has underperformed TSM with an annualized return of 9.73%, while TSM has yielded a comparatively higher 35.80% 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%
TSM
- 1D
- 0.68%
- 1M
- 1.72%
- YTD
- 40.22%
- 6M
- 45.91%
- 1Y
- 103.01%
- 3Y*
- 60.80%
- 5Y*
- 31.30%
- 10Y*
- 35.80%
SMIN vs. TSM - 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% |
TSM Taiwan Semiconductor Manufacturing Company Limited | 40.22% | 55.91% | 92.58% | 42.33% | -36.75% | 12.09% | 92.67% | 64.85% | -3.50% | 41.46% |
Correlation
The correlation between SMIN and TSM is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.30 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.34 |
Correlation (All Time) Calculated using the full available price history since Feb 9, 2012 | 0.33 |
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Return for Risk
SMIN vs. TSM — Risk / Return Rank
SMIN
TSM
SMIN vs. TSM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India Small-Cap ETF (SMIN) and Taiwan Semiconductor Manufacturing Company Limited (TSM). 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 | TSM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.22 | ||
| Sortino ratioReturn per unit of downside risk | -3.95 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.40 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | 5.48 | -5.87 |
| Martin ratioReturn relative to average drawdown | -0.87 | 19.42 | -20.29 |
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Drawdowns
SMIN vs. TSM - Drawdown Comparison
The maximum SMIN drawdown since its inception was -60.50%, smaller than the maximum TSM drawdown of -89.08%. Use the drawdown chart below to compare losses from any high point for SMIN and TSM.
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Drawdown Indicators
| SMIN | TSM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.50% | -89.08% | +28.58% |
Max Drawdown (1Y)Largest decline over 1 year | -24.54% | -18.14% | -6.40% |
Max Drawdown (3Y)Largest decline over 3 years | -27.58% | -36.82% | +9.24% |
Max Drawdown (5Y)Largest decline over 5 years | -27.58% | -56.47% | +28.89% |
Max Drawdown (10Y)Largest decline over 10 years | -60.50% | -56.47% | -4.03% |
Current DrawdownCurrent decline from peak | -16.07% | -4.87% | -11.20% |
Average DrawdownAverage peak-to-trough decline | -14.62% | -42.85% | +28.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.01% | 5.11% | +5.90% |
Volatility
SMIN vs. TSM - Volatility Comparison
The current volatility for iShares MSCI India Small-Cap ETF (SMIN) is 4.86%, while Taiwan Semiconductor Manufacturing Company Limited (TSM) has a volatility of 13.42%. This indicates that SMIN experiences smaller price fluctuations and is considered to be less risky than TSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMIN | TSM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.86% | 13.42% | -8.56% |
Volatility (6M)Calculated over the trailing 6-month period | 15.58% | 28.65% | -13.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.67% | 36.69% | -18.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.88% | 37.46% | -18.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.83% | 34.23% | -11.40% |
Dividends
SMIN vs. TSM - Dividend Comparison
SMIN's dividend yield for the trailing twelve months is around 2.10%, more than TSM's 0.83% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
TSM Taiwan Semiconductor Manufacturing Company Limited | 0.83% | 1.00% | 1.18% | 1.78% | 2.49% | 1.57% | 1.56% | 3.46% | 3.64% | 2.32% | 2.61% | 2.54% |
Frequently Asked Questions
SMIN and TSM have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSM has higher volatility (13.42%) compared to SMIN (4.86%). In terms of maximum drawdown, SMIN dropped -60.50% vs TSM's -89.08%.
TSM currently has the higher Sharpe Ratio (2.71 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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