WAINX vs. SMIN
WAINX (Wasatch Emerging India Fund) and SMIN (iShares MSCI India Small-Cap ETF) are both India Equities funds. Over the past 10 years, WAINX returned 9.07%/yr vs 9.04%/yr for SMIN. Their 0.65 correlation means they have sometimes moved together and sometimes differently. WAINX charges 1.51%/yr vs 0.74%/yr for SMIN.
Performance
WAINX vs. SMIN - Performance Comparison
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Returns By Period
In the year-to-date period, WAINX achieves a 0.48% return, which is significantly higher than SMIN's 0.14% return. Both investments have delivered pretty close results over the past 10 years, with WAINX having a 9.07% annualized return and SMIN not far behind at 9.04%.
WAINX
- 1D
- 0.00%
- 1M
- 0.24%
- 6M
- 10.29%
- YTD
- 0.48%
- 1Y
- -2.65%
- 3Y*
- 5.04%
- 5Y*
- 2.72%
- 10Y*
- 9.07%
- ALL TIME*
- 9.58%
SMIN
- 1D
- 0.36%
- 1M
- -1.13%
- 6M
- 6.30%
- YTD
- 0.14%
- 1Y
- -2.16%
- 3Y*
- 7.81%
- 5Y*
- 6.28%
- 10Y*
- 9.04%
- ALL TIME*
- 8.80%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $9.23M | $9.44M | $11.13M | |
| $0.00 | $0.00 | $0.00 |
WAINX vs. SMIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WAINX Wasatch Emerging India Fund | 0.48% | -5.33% | 9.23% | 20.90% | -21.77% | 37.56% | 17.63% | 13.78% | -5.45% | 53.39% |
SMIN iShares MSCI India Small-Cap ETF | 0.14% | -6.68% | 16.78% | 35.41% | -14.23% | 44.43% | 19.59% | -5.21% | -25.55% | 62.36% |
Correlation
The correlation between WAINX and SMIN is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.68 |
Correlation (3Y) Balances recent behavior with more history. | 0.69 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.68 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.67 |
Correlation (All Time) Calculated using the full available price history since Feb 9, 2012 | 0.65 |
The correlation between WAINX and SMIN has been stable across timeframes, ranging from 0.65 to 0.69 - a consistent structural relationship.
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Return for Risk
WAINX vs. SMIN — Risk / Return Rank
WAINX
SMIN
WAINX vs. SMIN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Wasatch Emerging India Fund (WAINX) and iShares MSCI India Small-Cap ETF (SMIN). 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.
| WAINX | SMIN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 0.99 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | -0.15 | -0.11 | -0.04 |
| Martin ratioReturn relative to average drawdown | -0.36 | -0.29 | -0.08 |
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Drawdowns
WAINX vs. SMIN - Drawdown Comparison
The maximum WAINX drawdown since its inception was -41.34%, smaller than the maximum SMIN drawdown of -60.50%. Use the drawdown chart below to compare losses from any high point for WAINX and SMIN.
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Drawdown Indicators
| WAINX | SMIN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.34% | -60.50% | +19.16% |
Max Drawdown (1Y)Largest decline over 1 year | -25.11% | -21.99% | -3.12% |
Max Drawdown (3Y)Largest decline over 3 years | -31.01% | -27.58% | -3.43% |
Max Drawdown (5Y)Largest decline over 5 years | -31.01% | -27.58% | -3.43% |
Max Drawdown (10Y)Largest decline over 10 years | -41.34% | -60.50% | +19.16% |
Current DrawdownCurrent decline from peak | -13.14% | -12.42% | -0.72% |
Average DrawdownAverage peak-to-trough decline | -9.37% | -14.60% | +5.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.66% | 8.75% | +1.91% |
Volatility
WAINX vs. SMIN - Volatility Comparison
Wasatch Emerging India Fund (WAINX) has a higher volatility of 5.72% compared to iShares MSCI India Small-Cap ETF (SMIN) at 4.91%. This indicates that WAINX's price experiences larger fluctuations and is considered to be riskier than SMIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WAINX | SMIN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.72% | 4.91% | +0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 14.49% | 15.74% | -1.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.41% | 19.05% | -1.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.43% | 18.99% | -1.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.09% | 22.84% | -3.75% |
WAINX vs. SMIN - Expense Ratio Comparison
WAINX has a 1.51% expense ratio, which is higher than SMIN's 0.74% expense ratio.
Dividends
WAINX vs. SMIN - Dividend Comparison
WAINX's dividend yield for the trailing twelve months is around 29.03%, more than SMIN's 2.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMIN iShares MSCI India Small-Cap ETF | 2.01% | 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 | 29.03% | 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
WAINX and SMIN 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.
WAINX has higher volatility (5.72%) compared to SMIN (4.91%). In terms of maximum drawdown, WAINX dropped -41.34% vs SMIN's -60.50%.
SMIN currently has the higher Sharpe Ratio (-0.13 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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