iShares MSCI India Small-Cap ETF (SMIN) Performance
SMIN total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −6.7% since Dec 31, 2025
- 1 year
- −10.7% total return
- 5 years
- +3.5% a year
- 10 years
- +7.4% a year
- Since first price
- +8.1% a year since 2012
SMIN trailing returns vs SPY, QQQ, AGG
| Period | SMIN total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −7.3% | −7.3% | −1.0% | −5.0% | +0.9% |
| 3 months | −2.9% | −2.9% | +3.2% | +1.9% | −0.4% |
| 6 months | −2.1% | −2.1% | +7.8% | +8.4% | −1.5% |
| YTD | −6.7% | −6.7% | +12.3% | +15.1% | −1.0% |
| 1 year | −10.7% | −12.5% | +14.4% | +15.9% | −1.1% |
| 3 years | +15.6%+5.0%/yr | +5.9% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +18.8%+3.5%/yr | +7.3% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +103.6%+7.4%/yr | +71.8% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| Since inceptionFeb 9, 2012 | +215.9%+8.1%/yr | +155.3% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: SMIN vs SPY
From Feb 9, 2012: SMIN grew to $31,595, SPY to $72,445.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
SMIN returns by calendar year
7 of 13 full years positive. Best 2017 (+62.4%), worst 2018 (−25.5%). 2026 is year to date.
SMIN annual returns table
| Year | SMIN | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −6.7% | −18.0% | +12.3% | +15.1% | −1.0% |
| 2025 | −6.7% | −20.2% | +17.7% | +20.8% | +7.2% |
| 2024 | +16.8% | −10.6% | +24.9% | +25.6% | +1.3% |
| 2023 | +35.4% | −9.3% | +26.2% | +54.9% | +5.7% |
| 2022 | −14.2% | −24.8% | −18.2% | −32.6% | −13.0% |
| 2021 | +44.4% | −10.4% | +28.7% | +27.4% | −1.8% |
| 2020 | +19.6% | −45.4% | +18.3% | +48.6% | +7.5% |
| 2019 | −5.2% | −21.0% | +31.2% | +39.0% | +8.5% |
| 2018 | −25.5% | −38.5% | −4.6% | −0.1% | +0.1% |
| 2017 | +62.4% | −8.9% | +21.7% | +32.7% | +3.6% |
| 2016 | +0.5% | −23.2% | +12.0% | +7.1% | +2.4% |
| 2015 | −0.1% | −21.3% | +1.2% | +9.4% | +0.5% |
| 2014 | +52.4% | −11.9% | +13.5% | +19.2% | +6.0% |
| 2013 | −12.8% | −43.1% | +32.3% | +36.6% | −2.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
SMIN largest drawdowns
Now 18.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 12, 2018 | −60.5% | Mar 23, 2020 | May 27, 2021 | 2.2 years | 3.4 years |
| Feb 21, 2012 | −44.2% | Sep 3, 2013 | May 16, 2014 | 1.5 years | 2.2 years |
| Apr 10, 2015 | −30.9% | Feb 26, 2016 | Sep 22, 2016 | 11 months | 1.5 years |
| Sep 23, 2024 | −27.6% | Mar 30, 2026 | not yet | 1.5 years | 2.1 years so far |
| Jan 12, 2022 | −24.8% | Jun 22, 2022 | Aug 31, 2023 | 5 months | 1.6 years |
| Oct 24, 2016 | −16.8% | Nov 21, 2016 | Feb 8, 2017 | 28 days | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
SMIN risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2012 |
|---|---|---|---|---|
| Annualized return | +6.0% | +4.8% | +8.3% | +8.4% |
| Volatility (annualized) | 18.0% | 16.7% | 22.3% | 24.0% |
| Sharpe ratio | 0.17 | 0.15 | 0.37 | 0.40 |
| Sortino ratio | 0.25 | 0.22 | 0.51 | 0.57 |
| Best month | +11.6% | +11.6% | +12.4% | +20.1% |
| Worst month | −10.1% | −10.1% | −34.6% | −34.6% |
| Best 12 months | +36.7% | +45.9% | +115.3% | +115.3% |
| Worst 12 months | −11.1% | −14.2% | −41.9% | −41.9% |
| Positive months | 56% | 55% | 59% | 59% |
| Beta vs S&P 500 | 0.52 | 0.46 | 0.64 | — |
| Correlation with S&P 500 | 0.36 | 0.43 | 0.44 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
SMIN rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 165 | −41.9% | +3.5% | +115.3% | 57% |
| 3-year (a year) | 141 | −16.9% | +12.9% | +34.4% | 89% |
| 5-year (a year) | 117 | −7.1% | +12.0% | +26.5% | 96% |
| 10-year (a year) | 57 | +7.2% | +10.0% | +16.6% | 100% |
Every holding period starting at a month-end since 2012. Returns for 3 years and longer are annualized.
SMIN performance overview
iShares MSCI India Small-Cap ETF (SMIN) returned −10.7% over the past year and +7.4% a year over ten years, with distributions reinvested. Since its first recorded price in 2012 it has returned +8.1% a year, turning $10,000 into about $31,595. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −60.5%, from Jan 12, 2018 to Mar 23, 2020, and it took 1.2 years to get back to the old high. SMIN finished 7 of its 13 full calendar years with a gain; the best year was 2017 (+62.4%) and the worst 2018 (−25.5%). Volatility has been 24.0% a year.
Related: SMIN chart, SMIN holdings, SMIN dividends. See the SMIN overview for the latest quote and fund facts.
SMIN performance FAQ
What is the SMIN return over the past year?
SMIN returned −10.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 12.5%.
What is the average annual return of SMIN?
SMIN has returned +3.5% a year over 5 years, +7.4% a year over 10 years, +8.1% a year since February 9, 2012 (total return, distributions reinvested).
How much would $10,000 invested in SMIN be worth?
$10,000 invested in SMIN at its first recorded close on February 9, 2012 would be worth about $31,595 on October 23, 2026 with distributions reinvested.
What was the worst year for SMIN?
The worst calendar year was 2018, with a total return of −25.5%. The best was 2017 at +62.4%.
What is the biggest drawdown of SMIN?
The largest peak-to-trough decline was −60.5% between January 12, 2018 and March 23, 2020. It recovered to the old high on May 27, 2021, 1.2 years after the bottom.
How volatile is SMIN?
Over the past 3 years SMIN had an annualized volatility of 18.0% and a Sharpe ratio of 0.17 (excess return over 1–3 month T-bills per unit of risk).