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INQQ vs SMIN

The India Internet ETF

INQQFNYSE Arca

iShares MSCI India Small-Cap ETF

SMINACboe

Overlap

2.3%by weight

Expense ratio

SMIN −0.12pt a year

INQQ0.86%SMIN0.74%

Avg volume · 30D

SMIN 6.6×the volume

INQQ13.9KSMIN91.9K

3Y return · a year

SMIN +1.8pt

INQQ+4.8%SMIN+6.6%

INQQ vs SMIN Performance

Nov 7, 2025 – Nov 9, 2026

−9.5%INQQ−1.0%SMIN

Nov 7, 2025 to Nov 9, 2026. INQQ −9.5%. SMIN −1.0%. Use the arrow keys to read each point.−25%−20%−15%−5%Nov 2025May 2026Nov 2026
Expense ratio
INQQ 0.86%
SMIN 0.74%, better
Fund size
INQQ $39M
SMIN $707M
1Y total return
INQQ −9.5%
SMIN −1.0%, better
Yield (12M)
INQQ 2.37%, better
SMIN 1.99%
Holdings
INQQ 26
SMIN 456
Avg volume (30D)
INQQ 13.9K sh
SMIN 91.9K sh, better
NAV per share
INQQ $13.81
SMIN $69.31
52W range

ETF.net Grade

INQQ: Cost 6, Risk 21, Mission not scored, Tradability 37, Holdings 13, Durability 44. SMIN: Cost 56, Risk 29, Mission 95, Tradability 81, Holdings 89, Durability 88.
Pillar letters and Scores for INQQ, SMIN, with each pillar’s weight
PillarINQQSMIN
Cost30% weightF6B56Higher
Mission25% weightNot scoredA95
Risk15% weightF21D29Higher
Tradability15% weightD37A81Higher
Holdings10% weightF13A89Higher
Durability5% weightC44A88Higher

Rank among India funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. INQQ and SMIN are both graded against the same 19 India funds, so their Grades compare head to head.

India⁠

Category · 19 funds
See all 19 ›

SMIN ranks 4th and INQQ 19th of 19 funds in the India Category.

  1. Rank 1AFLINFranklin FTSE India ETFScore 86
  2. Rank 1AINDAiShares MSCI India ETFScore 86
  3. Rank 3AINDYiShares India 50 ETFScore 75
  4. Rank 4ASMINiShares MSCI India Small-Cap ETFScore 70
  5. Rank 5BIOPPSimplify Tara India Opportunities ETFScore 67
  6. Rank 18DINDQPacer ActiveAlpha India Quality ETFScore 30
  7. Rank 19FINQQThe India Internet ETFScore 18

Our read on each fund

ETF.net Research

INQQFThe India Internet ETF

SMINAiShares MSCI India Small-Cap ETF

In short

INQQ Most e-commerce ETFs are Amazon-and-friends with a sprinkle of the world. INQQ goes the other way: a concentrated basket of Indian internet and online-commerce companies, and nothing else.

SMIN Most US-listed India funds stop at the blue chips. SMIN keeps going down-cap, tracking an MSCI index of roughly 500 smaller Indian companies, and it has been doing that job since 2012.

Stated mandate

INQQ The fund seeks to track an index representing an investable universe of publicly traded Indian internet and ecommerce companies.

SMIN The fund seeks to track the investment results of an index representing small-capitalization equity securities in India.

Why people hold it

  • INQQ Single-country focus. The index covers publicly traded Indian internet and ecommerce companies, a mandate its peers in the e-commerce cohort (EBIZ, IBUY, ONLN) don't offer.
  • Plain plumbing: an index-tracking 1940 Act equity fund that owns the stocks. No swaps, no leverage, no derivatives overlay to unpack.
  • Deliberately tight. A couple dozen names means the leading Indian internet businesses drive returns instead of being diluted by a 200-stock tail.
  • From EMQQ Global, a boutique issuer built around emerging-market internet indexing, which launched INQQ in 2022 to isolate India.
  • SMIN Owns the slice of India the headline funds skip: roughly 500 small caps, versus the 50-name blue-chip lineup at INDY.ishares.com
  • At 0.74%, the fee lands right around the middle of the US India-fund pack, which is unusual for a specialist small-cap sleeve.
  • One of the stronger implementations among US-listed India funds: tight tracking of its stated index, iShares plumbing, and a live record back to 2012.

Worth knowing

  • INQQ The specialty carries a specialty price: 0.86% a year, above broader e-commerce options like OGIG (0.48%) and EBIZ (0.50%).
  • Small and thinly traded, so bid-ask spreads can run wider than in the large global e-commerce funds.
  • One country, one theme, a couple dozen stocks. Indian market swings, currency moves and local regulation land here undiluted.
  • SMIN Small caps inside one emerging market swing hard in both directions, and rupee moves stack on top of the stock moves.
  • Reasonable for the niche, pricey next to broad India trackers: FLIN charges 0.19% for the large-cap version of the trade.
  • Moderately traded rather than a top-of-book giant, so size your orders with care. Cash comes back once or twice a year, not monthly.

Full INQQ profile⁠

Full SMIN profile⁠

INQQ vs SMIN Holdings

How INQQ and SMIN differ

Overlap by weight

2.3%

Shared holdings make up 20.2% of INQQ and 2.3% of SMIN.

Level by level

  • Holdings10 in both2.3%
  • Sector11 Sectors59.2%
  • Asset classStocks100%
  • Countryby domicile100%

Sector

Sector weights in INQQ and SMIN, widest gap first
SectorMore in INQQMore in SMINGap
IndustrialsSMIN +15.0 points
CommunicationINQQ +12.4 points
MaterialsSMIN +11.4 points
TechnologyINQQ +9.2 points
EnergyINQQ +7.9 points
Consumer DiscretionaryINQQ +7.8 points
Health CareSMIN +6.5 points
FinancialsINQQ +3.7 points
Real EstateSMIN +3.5 points
UtilitiesSMIN +2.3 points
Consumer StaplesSMIN +2.1 points

Country, concentration and asset class

Country by domicile

Country weights in INQQ and SMIN, widest gap first
CountryMore in INQQMore in SMINGap
IndiaSame weight

Outside the US: INQQ 0% developed, 100% emerging. SMIN 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

  • INQQ62.4%
  • SMIN11.0%

Securities held

  • INQQ26
  • SMIN453

Asset class

INQQ
Stocks
SMIN
Stocks

Holdings

  • Only in INQQ16
  • In both10
  • Only in SMIN443

Only in INQQ

16 securities, 80.0% of INQQ by weight

  • Eternal Ltd9.07%
  • Bajaj Finance Ltd8.07%
  • Reliance Industries Ltd Ord7.15%

Only in SMIN

443 securities, 98.1% of SMIN by weight

  • Coforge2.05%
  • Sona Blw Precision Forgings Ltd1.21%
  • Glenmark Pharmaceuticals1.12%

Weight gaps

All 10 Holdings in both funds, largest gap first.

Holding weights in INQQ and SMIN, widest gap first
HoldingMore in INQQMore in SMINGap
Angel One LtdINQQ +3.17 points
Cartrade Tech LtdINQQ +2.46 points
Urban Company OrdINQQ +2.41 points
Nazara Technologies LtdINQQ +2.17 points
Pine Labs OrdINQQ +2.08 points
Affle India LtdINQQ +1.85 points
Honasa Consumer LtdINQQ +1.29 points
Go Digit General Insurance OrdINQQ +1.23 points

All 26 INQQ holdings⁠All 453 SMIN holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

INQQ vs SMIN Cost

Overpaying INQQ vs SMIN

$2,061

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • INQQ 0.86%

    $16,368

  • SMIN 0.74%

    $14,307

$10,000
30 years

Cost over time

  • INQQ 0.86%
  • SMIN 0.74%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530INQQ $16,368SMIN $14,307

Year by year

YearINQQSMINOverpaying
10$1,525$1,319$206
20$5,768$5,015$753
30$16,368$14,307$2,061

Expense ratio

  • 0.86%INQQ
  • 0.74%SMIN, cheaper
  • Middle half of India funds
  • Median 0.75%

SMIN 9th cheapest of 19 funds

INQQ 18th cheapest of 19 funds

INQQ vs SMIN Dividends

Last 12 months to Nov 9, 2026
Yield (12M)
INQQ 2.37%, better
SMIN 1.99%
Payout (12M)
INQQ $0.33
SMIN $1.41
Last payment
INQQ $0.33
SMIN $1.41
Ex-dividend
INQQ Dec 30, 2025
SMIN Dec 16, 2025
Paid on
INQQ Dec 31, 2025
SMIN Dec 19, 2025
Frequency
INQQ Annual
SMIN Annual

Distribution history

Per share, 2017 to 2026, same scale for both

INQQAnnual · 3 paymentsAll INQQ payments⁠
One bar per payment. 3 payments from 2017 to 2026 YTD. Dec 26, 2023 $0.006; Dec 30, 2024 $0.19; Dec 30, 2025 $0.33. Use the arrow keys to read each point.$0$52017202020232026YTD
SMINAnnual · 12 paymentsAll SMIN payments⁠
One bar per payment. 12 payments from 2017 to 2026 YTD. Dec 19, 2017 $0.47; Jun 19, 2018 $0.65; Jun 17, 2019 $0.21; Dec 16, 2019 $0.42; Jun 15, 2020 $0.40; Dec 14, 2020 $0.05; Dec 13, 2021 $0.77; Dec 13, 2022 $0.0038; Jun 7, 2023 $0.04; Dec 20, 2023 $0.24; Dec 17, 2024 $5.23; Dec 16, 2025 $1.41. Use the arrow keys to read each point.$0$52017202020232026YTD

INQQ vs SMIN Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
INQQ 17.7%, betterSMIN 18.1%
Return per unit of riskSharpe ratio, 3 years
INQQ −0.01SMIN 0.15, better
Worst fallMax drawdown, 5 years
INQQ −40.5%since Apr 2022SMIN −27.5%
Market sensitivityBeta, 5 years
INQQ 0.51SMIN 0.50

INQQ and SMIN in the news

All news⁠

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