SMIN vs. WAINX
SMIN (iShares MSCI India Small-Cap ETF) and WAINX (Wasatch Emerging India Fund) are both Asia Pacific Equities funds. Over the past 10 years, SMIN returned 9.63%/yr vs 9.01%/yr for WAINX. A 0.65 correlation means they provide meaningful diversification when combined. SMIN charges 0.76%/yr vs 1.51%/yr for WAINX.
Performance
SMIN vs. WAINX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SMIN achieves a -3.98% return, which is significantly higher than WAINX's -10.58% return. Over the past 10 years, SMIN has outperformed WAINX with an annualized return of 9.63%, while WAINX has yielded a comparatively lower 9.01% 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%
WAINX
- 1D
- 0.00%
- 1M
- -2.11%
- YTD
- -10.58%
- 6M
- -11.46%
- 1Y
- -16.81%
- 3Y*
- 1.92%
- 5Y*
- 1.55%
- 10Y*
- 9.01%
SMIN vs. WAINX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
WAINX Wasatch Emerging India Fund | -10.58% | -5.33% | 9.23% | 20.90% | -21.77% | 37.56% | 17.63% | 13.78% | -5.45% | 53.39% |
Correlation
The correlation between SMIN and WAINX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.67 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2012 | 0.65 |
The correlation between SMIN and WAINX has been stable across timeframes, ranging from 0.65 to 0.68 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SMIN vs. WAINX — Risk / Return Rank
SMIN
WAINX
SMIN vs. WAINX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI India Small-Cap ETF (SMIN) and Wasatch Emerging India Fund (WAINX). 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 | WAINX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.97 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 0.84 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | -0.33 | -0.60 | +0.27 |
| Martin ratioReturn relative to average drawdown | -0.74 | -1.25 | +0.51 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| SMIN | WAINX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.43 | -1.03 | +0.60 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.35 | 0.09 | +0.26 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.48 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.48 | -0.12 |
Drawdowns
SMIN vs. WAINX - Drawdown Comparison
The maximum SMIN drawdown since its inception was -60.50%, which is greater than WAINX's maximum drawdown of -41.34%. Use the drawdown chart below to compare losses from any high point for SMIN and WAINX.
Loading charts...
Drawdown Indicators
| SMIN | WAINX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.50% | -41.34% | -19.16% |
Max Drawdown (1Y)Largest decline over 1 year | -24.54% | -28.83% | +4.29% |
Max Drawdown (3Y)Largest decline over 3 years | -27.58% | -31.01% | +3.43% |
Max Drawdown (5Y)Largest decline over 5 years | -27.58% | -31.01% | +3.43% |
Max Drawdown (10Y)Largest decline over 10 years | -60.50% | -41.34% | -19.16% |
Current DrawdownCurrent decline from peak | -16.02% | -22.69% | +6.67% |
Average DrawdownAverage peak-to-trough decline | -14.62% | -9.31% | -5.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.82% | 13.70% | -2.88% |
Volatility
SMIN vs. WAINX - Volatility Comparison
iShares MSCI India Small-Cap ETF (SMIN) has a higher volatility of 6.11% compared to Wasatch Emerging India Fund (WAINX) at 4.10%. This indicates that SMIN's price experiences larger fluctuations and is considered to be riskier than WAINX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SMIN | WAINX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.11% | 4.10% | +2.01% |
Volatility (6M)Calculated over the trailing 6-month period | 15.65% | 13.78% | +1.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.54% | 16.69% | +1.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.86% | 17.24% | +1.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.83% | 19.01% | +3.82% |
SMIN vs. WAINX - Expense Ratio Comparison
SMIN has a 0.76% expense ratio, which is lower than WAINX's 1.51% expense ratio.
Dividends
SMIN vs. WAINX - Dividend Comparison
SMIN's dividend yield for the trailing twelve months is around 2.10%, less than WAINX's 32.63% 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% |
WAINX Wasatch Emerging India Fund | 32.63% | 29.17% | 20.19% | 4.23% | 1.15% | 4.29% | 0.00% | 0.32% | 6.95% | 2.91% | 1.06% | 1.40% |
Frequently Asked Questions
SMIN and WAINX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SMIN has higher volatility (6.11%) compared to WAINX (4.10%). In terms of maximum drawdown, SMIN dropped -60.50% vs WAINX's -41.34%.
SMIN currently has the higher Sharpe Ratio (-0.43 vs -1.03), 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.
Find the right allocation for SMIN and WAINX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer