SMIN vs SPY
iShares MSCI India Small-Cap ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SMIN | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.74% | 0.09% | |
| AUM | $750M | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 467 | 505 | |
| YTD Return | +1.91% | +13.68% | |
| 1Y Return | +0.68% | +21.53% | |
| 3Y Return (annualized) | +8.84% | +21.44% | |
| 5Y Return (annualized) | +6.95% | +13.18% | |
| Volatility (annualized) | 26.4% | 15.3% | |
| Max Drawdown | -60.5% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Feb 8, 2012 | Jan 22, 1993 |
SMIN vs SPY Performance
iShares MSCI India Small-Cap ETF (SMIN) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SMIN returned +0.68% while SPY returned +21.53%. Year to date, SMIN is up 1.91% versus a gain of 13.68% for SPY.
Over three years, SMIN compounded at +8.84% per year against +21.44% for SPY; over five years the annualized figures are +6.95% and +13.18% respectively. Across the full 15-year window we track, SMIN has the edge at +8.92% annualized vs +8.85%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SMIN has been the more volatile fund, with annualized monthly volatility of 26.4% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -60.5% for SMIN and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.41. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SMIN charges 0.74% per year while SPY charges 0.09%. On a $10,000 position that is $74 vs $9 annually, a gap of $65 per year that compounds over a long holding period. On income, SMIN currently yields 0.00% against 1.01% for SPY.
Holdings Overlap
SMIN and SPY share 0 holdings out of 961 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, SMIN or SPY?
SMIN has an expense ratio of 0.74% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $65 per year of difference.
Which performed better, SMIN or SPY?
Over the past year SMIN returned +0.68% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (15 years), SMIN annualized +8.92% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, SMIN or SPY?
SMIN has been the more volatile fund at 26.4% annualized versus 15.3% for SPY. Worst drawdown: SMIN -60.5% vs SPY -56.5%.
Should I hold both SMIN and SPY?
SMIN and SPY have a monthly-return correlation of 0.41, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between SMIN and SPY?
SMIN and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 961 unique securities.
Which pays a higher dividend, SMIN or SPY?
SMIN yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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