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NDIA vs SMIN

Global X India Active ETF

NDIABNYSE Arca

iShares MSCI India Small-Cap ETF

SMINACboe

Overlap

Expense ratio

SMIN −0.01pt a year

NDIA0.75%SMIN0.74%

Avg volume · 30D

SMIN 27.1×the volume

NDIA4.27KSMIN116K

3Y return · a year

SMIN +2.0pt

NDIA+3.7%SMIN+5.7%

NDIA vs SMIN Performance

Oct 31, 2025 – Nov 2, 2026

−8.4%NDIA−6.0%SMIN

Oct 31, 2025 to Nov 2, 2026. NDIA −8.4%. SMIN −6.0%. Use the arrow keys to read each point.−15%0%Oct 2025May 2026Nov 2026
Expense ratio
NDIA 0.75%
SMIN 0.74%, better
Fund size
NDIA $51M
SMIN $669M
1Y total return
NDIA −8.4%
SMIN −6.0%, better
Yield (12M)
NDIA 1.21%
SMIN 2.07%, better
Holdings
NDIA 32
SMIN 456
Avg volume (30D)
NDIA 4.27K sh
SMIN 116K sh, better
NAV per share
NDIA $26.45
SMIN $66.28
52W range

ETF.net Grade

NDIA: Cost 42, Risk 67, Mission 97, Tradability 35, Holdings not scored, Durability 43. SMIN: Cost 56, Risk 32, Mission 95, Tradability 79, Holdings 89, Durability 87.
Pillar letters and Scores for NDIA, SMIN, with each pillar’s weight
PillarNDIASMIN
Cost30% weightC42B56Higher
Mission25% weightA97HigherA95
Risk15% weightB67HigherD32
Tradability15% weightD35A79Higher
Holdings10% weightNot scoredA89
Durability5% weightC43A87Higher

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. NDIA 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 NDIA 9th 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 68
  6. Rank 8BNFTYFirst Trust India NIFTY 50 Equal Weight ETFScore 61
  7. Rank 9BNDIAGlobal X India Active ETFScore 60
  8. Rank 10BEPIWisdomTree India Earnings FundScore 59

Our read on each fund

ETF.net Research

NDIABGlobal X India Active ETF

SMINAiShares MSCI India Small-Cap ETF

In short

NDIA Most India ETFs hand you an index and a few hundred names. NDIA is a stockpicker: about 30 companies chosen for business quality and domestic-driven growth, held on a four- to five-year view.

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

NDIA The fund seeks long-term capital growth through active exposure to India, emphasizing companies with quality business models and management teams and domestic-driven growth over a four- to five-year horizon.

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

Why people hold it

  • NDIA Actively run, not index-shadowing. A concentrated book of roughly 30 Indian companies, selected for quality business models and management teams, with long-term capital growth as the stated goal.globalxetfs.com
  • Costs 0.75% a year, level with the typical India ETF fee. Active stock selection at passive-median pricing is a rarer combination than it sounds.
  • Does what the label says. Pure India equity, quality screen, domestic-growth tilt, with very little drift from the advertised brief compared with its single-country peers.globalxetfs.com
  • 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

  • NDIA Cheaper index routes to the same country exist: FLIN charges 0.19% and INDA 0.61%. The extra fee here buys a manager's judgment, not broader coverage.
  • About 30 holdings means individual names carry real weight, and the whole portfolio rides one emerging market's economy and currency.
  • Trades lightly next to the giant India index funds and launched in 2023, so spreads can be wider and the live track record is still short.
  • 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 NDIA profile⁠

Full SMIN profile⁠

NDIA vs 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.

NDIA vs SMIN Cost

Overpaying NDIA vs SMIN

$175

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

  • NDIA 0.75%

    $14,482

  • SMIN 0.74%

    $14,307

$10,000
30 years

Cost over time

  • NDIA 0.75%
  • 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$15K051015202530NDIA $14,482SMIN $14,307

Year by year

YearNDIASMINOverpaying
10$1,336$1,319$17
20$5,078$5,015$63
30$14,482$14,307$175

Expense ratio

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

SMIN 9th cheapest of 19 funds

NDIA 10th cheapest of 19 funds

NDIA vs SMIN Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
NDIA 1.21%
SMIN 2.07%, better
Payout (12M)
NDIA $0.33
SMIN $1.41
Last payment
NDIA $0.33
SMIN $1.41
Ex-dividend
NDIA Dec 30, 2025
SMIN Dec 16, 2025
Paid on
NDIA Jan 7, 2026
SMIN Dec 19, 2025
Frequency
NDIA Annual
SMIN Annual

Distribution history

Per share, 2017 to 2026, same scale for both

NDIAAnnual · 3 paymentsAll NDIA payments⁠
One bar per payment. 3 payments from 2017 to 2026 YTD. Dec 28, 2023 $0.08; Dec 30, 2024 $1.05; 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

NDIA vs SMIN Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
NDIA 14.4%, betterSMIN 18.1%
Return per unit of riskSharpe ratio, 3 years
NDIA 0.01SMIN 0.15, better
Worst fallMax drawdown, 5 years
NDIA −22.0%since Aug 2023SMIN −27.5%
Market sensitivityBeta, 5 years
NDIA 0.38SMIN 0.48

NDIA and SMIN in the news

All news⁠

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