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SMIN vs. VPL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SMIN vs. VPL

Last updated Jun 5, 2026

SMIN (iShares MSCI India Small-Cap ETF) and VPL (Vanguard FTSE Pacific ETF) are both Asia Pacific Equities funds - SMIN tracks the MSCI India Small Cap Index while VPL tracks the FTSE Developed Asia Pacific Index. Both are passively managed. Over the past 10 years, SMIN returned 9.63%/yr vs 10.60%/yr for VPL. At a 0.46 correlation, their price movements are largely independent. SMIN charges 0.76%/yr vs 0.08%/yr for VPL.

Performance

SMIN vs. VPL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI India Small-Cap ETF (SMIN) and Vanguard FTSE Pacific ETF (VPL). 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 -3.98% return, which is significantly lower than VPL's 29.00% return. Over the past 10 years, SMIN has underperformed VPL with an annualized return of 9.63%, while VPL has yielded a comparatively higher 10.60% annualized return.

SMIN

1D
2.05%
1M
0.58%
YTD
-3.98%
6M
-3.28%
1Y
-7.97%
3Y*
10.06%
5Y*
6.49%
10Y*
9.63%

VPL

1D
-0.98%
1M
7.00%
YTD
29.00%
6M
31.18%
1Y
51.22%
3Y*
22.78%
5Y*
10.14%
10Y*
10.60%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SMIN vs. VPL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SMIN
iShares MSCI India Small-Cap ETF		-3.98%-6.68%16.78%35.41%-14.23%44.43%19.59%-5.21%-25.55%62.36%
VPL
Vanguard FTSE Pacific ETF		29.00%32.66%1.68%15.58%-15.20%1.10%16.65%18.16%-14.40%28.85%

Correlation

The correlation between SMIN and VPL is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.46

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

0.40

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

0.46

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

0.48

Correlation (All Time)
Calculated using the full available price history since Feb 10, 2012

0.46

SMIN vs. VPL - Sectors Allocation Comparison

Sectors
SMIN
VPL

Industrials

21.1%
20.5%

Financial Services

18.9%
19.3%

Healthcare

13.7%
5.0%

Consumer Cyclical

13.5%
9.6%

Basic Materials

12.2%
7.3%

Technology

7.8%
22.6%

Consumer Defensive

4.0%
3.5%

Real Estate

3.6%
4.3%

Utilities

2.7%
1.6%

Communication Services

1.6%
4.8%

Energy

0.9%
1.6%

Industrials

SMIN
21.1%
VPL
20.5%

Financial Services

SMIN
18.9%
VPL
19.3%

Healthcare

SMIN
13.7%
VPL
5.0%

Consumer Cyclical

SMIN
13.5%
VPL
9.6%

Basic Materials

SMIN
12.2%
VPL
7.3%

Technology

SMIN
7.8%
VPL
22.6%

Consumer Defensive

SMIN
4.0%
VPL
3.5%

Real Estate

SMIN
3.6%
VPL
4.3%

Utilities

SMIN
2.7%
VPL
1.6%

Communication Services

SMIN
1.6%
VPL
4.8%

Energy

SMIN
0.9%
VPL
1.6%

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

Vanguard FTSE Pacific ETF

Often compared with SMIN:
SMIN vs. INDASMIN vs. EPISMIN vs. FLINSMIN vs. NFTYSMIN vs. INCOSMIN vs. EWSSMIN vs. VOO
Often compared with VPL:
VPL vs. AAXJVPL vs. VEAVPL vs. VWOVPL vs. IPACVPL vs. VXUSVPL vs. VGKVPL vs. VEU

Return for Risk

SMIN vs. VPL — 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
VPL
VPL Risk / Return Rank: 7979
Overall Rank
VPL Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
VPL Sortino Ratio Rank: 7878
Sortino Ratio Rank
VPL Omega Ratio Rank: 8080
Omega Ratio Rank
VPL Calmar Ratio Rank: 7777
Calmar Ratio Rank
VPL Martin Ratio Rank: 7979
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. VPL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India Small-Cap ETF (SMIN) and Vanguard FTSE Pacific ETF (VPL). 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.

SMINVPLDifference
Sharpe ratioReturn per unit of total volatility
-0.43
2.63

-3.06

Sortino ratioReturn per unit of downside risk
-0.52
3.46

-3.98

Omega ratioGain probability vs. loss probability

0.94

1.47

-0.53

Calmar ratioReturn relative to maximum drawdown

-0.33

3.86

-4.19

Martin ratioReturn relative to average drawdown

-0.74

15.24

-15.97

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMIN vs. VPL - Sharpe Ratio Comparison

The current SMIN Sharpe Ratio is -0.43, which is lower than the VPL Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of SMIN and VPL, 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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Sharpe Ratios by Period

SMINVPLDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.43

2.63

-3.06

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.35

0.59

-0.24

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.42

0.61

-0.19

Sharpe Ratio (All Time)

Calculated using the full available price history

0.36

0.34

+0.02

Drawdowns

SMIN vs. VPL - Drawdown Comparison

The maximum SMIN drawdown since its inception was -60.50%, which is greater than VPL's maximum drawdown of -55.49%. Use the drawdown chart below to compare losses from any high point for SMIN and VPL.

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Drawdown Indicators

SMINVPLDifference

Max Drawdown

Largest peak-to-trough decline

-60.50%

-55.49%

-5.01%

Max Drawdown (1Y)

Largest decline over 1 year

-24.54%

-13.33%

-11.21%

Max Drawdown (3Y)

Largest decline over 3 years

-27.58%

-16.35%

-11.23%

Max Drawdown (5Y)

Largest decline over 5 years

-27.58%

-31.09%

+3.51%

Max Drawdown (10Y)

Largest decline over 10 years

-60.50%

-33.90%

-26.60%

Current Drawdown

Current decline from peak

-16.02%

-1.26%

-14.76%

Average Drawdown

Average peak-to-trough decline

-14.62%

-11.63%

-2.99%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.82%

3.37%

+7.45%

Volatility

SMIN vs. VPL - Volatility Comparison

The current volatility for iShares MSCI India Small-Cap ETF (SMIN) is 6.11%, while Vanguard FTSE Pacific ETF (VPL) has a volatility of 7.23%. This indicates that SMIN experiences smaller price fluctuations and is considered to be less risky than VPL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SMINVPLDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.11%

7.23%

-1.12%

Volatility (6M)

Calculated over the trailing 6-month period

15.65%

16.75%

-1.10%

Volatility (1Y)

Calculated over the trailing 1-year period

18.54%

19.57%

-1.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.86%

17.29%

+1.57%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.83%

17.29%

+5.54%

SMIN vs. VPL - Expense Ratio Comparison

SMIN has a 0.76% expense ratio, which is higher than VPL's 0.08% expense ratio.

Dividends

SMIN vs. VPL - Dividend Comparison

SMIN's dividend yield for the trailing twelve months is around 2.10%, less than VPL's 2.75% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VPL
Vanguard FTSE Pacific ETF		2.75%4.01%3.15%3.12%2.75%3.19%1.81%2.84%3.06%2.57%2.65%2.43%

Frequently Asked Questions

SMIN and VPL have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VPL has higher volatility (7.23%) compared to SMIN (6.11%). In terms of maximum drawdown, SMIN dropped -60.50% vs VPL's -55.49%.

On 10-year performance, VPL leads with 10.60% vs 9.63% for SMIN. On fees, VPL is cheaper at 0.08% per year. On volatility, SMIN has been the lower-risk option at 6.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VPL has performed better with a 10.60% return vs 9.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VPL is cheaper with a 0.08% expense ratio, compared with 0.76% for SMIN.

VPL has the higher dividend yield at 2.75%, compared with 2.10% for SMIN.

SMIN tracks MSCI India Small Cap Index, while VPL tracks FTSE Developed Asia Pacific Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.76% for SMIN and 0.08% for VPL.

VPL currently has the higher Sharpe Ratio (2.63 vs -0.43), 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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