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IOPP vs SMIN

Simplify Tara India Opportunities ETF

IOPPBNYSE Arca

iShares MSCI India Small-Cap ETF

SMINACboe

Overlap

0.0%by weight

Expense ratio

IOPP −0.03pt a year

IOPP0.71%SMIN0.74%

Avg volume · 30D

SMIN 50.9×the volume

IOPP2.28KSMIN116K

IOPP vs SMIN Performance

Oct 31, 2025 – Oct 30, 2026

−7.8%IOPP−7.5%SMIN

Oct 31, 2025 to Oct 30, 2026. IOPP −7.8%. SMIN −7.5%. Use the arrow keys to read each point.−20%−15%−5%0%Oct 2025Apr 2026Oct 2026
Expense ratio
IOPP 0.71%, better
SMIN 0.74%
Fund size
IOPP $6M
SMIN $669M
1Y total return
IOPP −7.8%
SMIN −7.5%, better
Yield (12M)
IOPP 0.60%
SMIN 2.11%, better
Holdings
IOPP 29
SMIN 456
Avg volume (30D)
IOPP 2.28K sh
SMIN 116K sh, better
NAV per share
IOPP $25.07
SMIN $66.28
52W range

ETF.net Grade

IOPP: Cost 64, Risk 49, Mission 100, Tradability 24, Holdings 100, Durability 37. SMIN: Cost 56, Risk 32, Mission 95, Tradability 79, Holdings 89, Durability 87.
Pillar letters and Scores for IOPP, SMIN, with each pillar’s weight
PillarIOPPSMIN
Cost30% weightB64HigherB56
Mission25% weightA100HigherA95
Risk15% weightC49HigherD32
Tradability15% weightF24A79Higher
Holdings10% weightA100HigherA89
Durability5% weightD37A87Higher

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. IOPP 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 IOPP 5th 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 66
  6. Rank 6BGLINVanEck India Growth Leaders ETFScore 64

Our read on each fund

ETF.net Research

IOPPBSimplify Tara India Opportunities ETF

SMINAiShares MSCI India Small-Cap ETF

In short

IOPP Most India ETFs hand you the whole index. IOPP goes the other way: an actively managed, roughly 30-stock portfolio of Indian companies picked by bottom-up research, launched by Simplify in 2024.

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

IOPP The fund seeks long-term capital appreciation and invests in equity securities of Indian issuers. It is actively managed and uses bottom-up research to pursue India's long-term growth opportunities.

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

Why people hold it

  • IOPP Active by design: a concentrated book of Indian issuers chosen through bottom-up research, not a copy of the MSCI India Index it measures itself against.simplify.us
  • Plain packaging: a standard US-listed 1940 Act fund holding Indian equities. No swaps or offshore wrappers to decode.simplify.us
  • What is inside matches the label. The portfolio sits squarely in Indian equities, with no style drift into other markets.
  • 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

  • IOPP It charges 1.03% a year, more than broad India index trackers such as FLIN and INDA. Active stock picking is what that buys.
  • Small asset base and thin trading, so spreads can run wider than the big India funds. How you place the order matters more here.
  • Launched in 2024 with roughly 30 names, so the track record is short and individual stocks move it. Distributions come annually or semiannually.
  • 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 IOPP profile⁠

Full SMIN profile⁠

IOPP vs SMIN Holdings

How IOPP and SMIN differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of IOPP and 0.0% of SMIN.

Level by level

  • Holdings0 in both0.0%
  • Sector11 Sectors62.5%
  • Asset classEquity100%
  • Countryby domicile100%

Sector

Sector weights in IOPP and SMIN, widest gap first
SectorMore in IOPPMore in SMIN
Consumer DiscretionaryIOPP +24.1 points
IndustrialsSMIN +9.1 points
MaterialsSMIN +8.4 points
TechnologySMIN +7.5 points
Consumer StaplesIOPP +7.1 points
CommunicationIOPP +6.2 points
Health CareSMIN +5.1 points
Real EstateSMIN +3.6 points
UtilitiesSMIN +2.3 points
EnergySMIN +1.4 points
FinancialsSame weight

Country, concentration and asset class

Country by domicile

Country weights in IOPP and SMIN, widest gap first
CountryMore in IOPPMore in SMIN
IndiaSame weight

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

Concentration

Weight in the 10 largest Holdings

  • IOPP52.0%
  • SMIN11.0%

Securities held

  • IOPP28
  • SMIN453

Asset class

IOPP
Equity
SMIN
Equity

Holdings

  • Only in IOPP28
  • In both0
  • Only in SMIN453

Only in IOPP

28 securities, 98.6% of IOPP by weight

  • Eternal Ltd8.17%
  • Indian Hot INR1 (Post Subdivision)6.23%
  • Icici Bank Ltd Inr 2.05.54%

Only in SMIN

453 securities, 100% of SMIN by weight

  • Coforge2.09%
  • Sona Blw Precision Forgings Ltd1.24%
  • Embassy Office Parks Reit Units1.13%

Weight gaps

IOPP and SMIN share no securities.

All 28 IOPP 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.

IOPP vs SMIN Cost

Overpaying SMIN vs IOPP

$525

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

  • IOPP 0.71%

    $13,782

  • SMIN 0.74%

    $14,307

$10,000
30 years

Cost over time

  • IOPP 0.71%
  • 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$15K051015202530SMIN $14,307IOPP $13,782

Year by year

YearIOPPSMINOverpaying
10$1,267$1,319$52
20$4,824$5,015$191
30$13,782$14,307$525

Expense ratio

  • 0.71%IOPP, cheaper
  • 0.74%SMIN
  • Middle half of India funds
  • Median 0.75%

IOPP 7th cheapest of 19 funds

SMIN 9th cheapest of 19 funds

IOPP vs SMIN Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
IOPP 0.60%
SMIN 2.11%, better
Payout (12M)
IOPP $0.15
SMIN $1.41
Last payment
IOPP $0.05
SMIN $1.41
Ex-dividend
IOPP Sep 25, 2026
SMIN Dec 16, 2025
Paid on
IOPP Sep 30, 2026
SMIN Dec 19, 2025
Frequency
IOPP Quarterly
SMIN Annual

Distribution history

Per share, 2017 to 2026, same scale for both

IOPPQuarterly · 5 paymentsAll IOPP payments⁠
One bar per payment. 5 payments from 2017 to 2026 YTD. Dec 23, 2024 $1.86; Mar 26, 2025 $0.08; Mar 26, 2026 $0.05; Jun 25, 2026 $0.05; Sep 25, 2026 $0.05. 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

IOPP vs SMIN Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
IOPP 15.2%since Apr 2024SMIN 18.1%
Return per unit of riskSharpe ratio, 3 years
IOPP −0.01since Apr 2024SMIN 0.15
Worst fallMax drawdown, 5 years
IOPP −23.6%since Mar 2024SMIN −27.5%
Market sensitivityBeta, 5 years
IOPP 0.42SMIN 0.48

IOPP and SMIN in the news

All news⁠

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