SMIN vs. USOY
SMIN (iShares MSCI India Small-Cap ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - SMIN is a Asia Pacific Equities fund tracking the MSCI India Small Cap Index, while USOY is a Derivative Income fund actively managed by Defiance. SMIN is passively managed, while USOY is actively managed. Over the past year, SMIN returned -9.92% vs 57.29% for USOY. At a correlation of -0.13, they often move in opposite directions. SMIN charges 0.76%/yr vs 1.22%/yr for USOY.
Performance
SMIN vs. USOY - Performance Comparison
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Returns By Period
In the year-to-date period, SMIN achieves a -5.91% return, which is significantly lower than USOY's 62.18% return.
SMIN
- 1D
- -1.53%
- 1M
- -0.14%
- YTD
- -5.91%
- 6M
- -4.92%
- 1Y
- -9.92%
- 3Y*
- 9.23%
- 5Y*
- 6.06%
- 10Y*
- 9.55%
USOY
- 1D
- 1.45%
- 1M
- -3.43%
- YTD
- 62.18%
- 6M
- 59.35%
- 1Y
- 57.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SMIN vs. USOY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SMIN iShares MSCI India Small-Cap ETF | -5.91% | -6.68% | 12.67% |
USOY Defiance Oil Enhanced Options Income ETF | 62.18% | -7.93% | 7.27% |
Correlation
The correlation between SMIN and USOY is -0.32, 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 | -0.32 |
Correlation (All Time) Calculated using the full available price history since May 13, 2024 | -0.13 |
The correlation between SMIN and USOY shifts across timeframes, from -0.32 (1 year) to -0.13 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SMIN vs. USOY — Risk / Return Rank
SMIN
USOY
SMIN vs. USOY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India Small-Cap ETF (SMIN) and Defiance Oil Enhanced Options Income ETF (USOY). 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.
| SMIN | USOY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.43 | ||
| Sortino ratioReturn per unit of downside risk | -2.98 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.35 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.41 | 4.03 | -4.43 |
| Martin ratioReturn relative to average drawdown | -0.92 | 7.74 | -8.66 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SMIN | USOY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.54 | 1.89 | -2.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.99 | -0.64 |
Drawdowns
SMIN vs. USOY - Drawdown Comparison
The maximum SMIN drawdown since its inception was -60.50%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for SMIN and USOY.
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Drawdown Indicators
| SMIN | USOY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.50% | -17.46% | -43.04% |
Max Drawdown (1Y)Largest decline over 1 year | -24.54% | -14.29% | -10.25% |
Max Drawdown (3Y)Largest decline over 3 years | -27.58% | — | — |
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 | -17.71% | -5.11% | -12.60% |
Average DrawdownAverage peak-to-trough decline | -14.62% | -6.47% | -8.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.79% | 7.42% | +3.37% |
Volatility
SMIN vs. USOY - Volatility Comparison
The current volatility for iShares MSCI India Small-Cap ETF (SMIN) is 5.90%, while Defiance Oil Enhanced Options Income ETF (USOY) has a volatility of 11.62%. This indicates that SMIN experiences smaller price fluctuations and is considered to be less risky than USOY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SMIN | USOY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.90% | 11.62% | -5.72% |
Volatility (6M)Calculated over the trailing 6-month period | 15.54% | 27.18% | -11.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.44% | 30.44% | -12.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.84% | 26.13% | -7.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.82% | 26.13% | -3.31% |
SMIN vs. USOY - Expense Ratio Comparison
SMIN has a 0.76% expense ratio, which is lower than USOY's 1.22% expense ratio.
Dividends
SMIN vs. USOY - Dividend Comparison
SMIN's dividend yield for the trailing twelve months is around 2.14%, less than USOY's 54.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMIN iShares MSCI India Small-Cap ETF | 2.14% | 2.01% | 6.84% | 0.41% | 0.01% | 1.27% | 1.06% | 1.75% | 1.68% | 0.89% | 2.30% | 0.93% |
USOY Defiance Oil Enhanced Options Income ETF | 54.16% | 104.32% | 48.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SMIN and USOY 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.
USOY has higher volatility (11.62%) compared to SMIN (5.90%). In terms of maximum drawdown, SMIN dropped -60.50% vs USOY's -17.46%.
On 1-year performance, USOY leads with 57.29% vs -9.92% for SMIN. On fees, SMIN is cheaper at 0.76% per year. On volatility, SMIN has been the lower-risk option at 5.90%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USOY has performed better with a 57.29% return vs -9.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SMIN is cheaper with a 0.76% expense ratio, compared with 1.22% for USOY.
USOY has the higher dividend yield at 54.16%, compared with 2.14% for SMIN.
SMIN is categorized as Asia Pacific Equities, while USOY is Derivative Income. They also come from different issuers: iShares and Defiance. Their fees differ too: 0.76% for SMIN and 1.22% for USOY.
USOY currently has the higher Sharpe Ratio (1.89 vs -0.54), 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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