DAPP vs. BRF

Last updated Jun 5, 2026

DAPP (VanEck Digital Transformation ETF) and BRF (VanEck Vectors Brazil Small-Cap ETF) are both exchange-traded funds - DAPP is a Technology Equities fund tracking the MVIS Global Digital Assets Equity Index, while BRF is a Latin America Equities fund tracking the MVIS Brazil Small-Cap Index. Both are passively managed. Over the past 5 years, DAPP returned -0.41%/yr vs -3.31%/yr for BRF. At a 0.32 correlation, their price movements are largely independent. DAPP charges 0.50%/yr vs 0.60%/yr for BRF.

Performance

DAPP vs. BRF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Digital Transformation ETF (DAPP) and VanEck Vectors Brazil Small-Cap ETF (BRF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DAPP achieves a 31.34% return, which is significantly higher than BRF's 5.52% return.

DAPP

• 1D: -1.27%
• 1M: 4.58%
• YTD: 31.34%
• 6M: 10.15%
• 1Y: 50.76%
• 3Y*: 59.16%
• 5Y*: -0.41%
• 10Y*: —

BRF

• 1D: 0.41%
• 1M: -11.58%
• YTD: 5.52%
• 6M: -1.66%
• 1Y: 21.03%
• 3Y*: 5.36%
• 5Y*: -3.31%
• 10Y*: 6.50%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DAPP vs. BRF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DAPP VanEck Digital Transformation ETF	31.34%	15.03%	44.87%	285.02%	-85.60%	-38.65%
BRF VanEck Vectors Brazil Small-Cap ETF	5.52%	54.17%	-35.02%	37.21%	-14.38%	-15.81%

Correlation

The correlation between DAPP and BRF is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.32
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (All Time) Calculated using the full available price history since Apr 15, 2021	0.32

DAPP vs. BRF - Sectors Allocation Comparison

Sectors	DAPP	BRF
Financial Services	68.5%	8.9%
Technology	28.8%	4.0%
Consumer Cyclical	2.7%	14.2%
Basic Materials	-	12.9%
Communication Services	-	-
Consumer Defensive	-	10.3%
Energy	-	5.7%
Healthcare	-	6.0%
Industrials	-	13.5%
Real Estate	-	14.1%
Utilities	-	9.4%

Return for Risk

DAPP vs. BRF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DAPP

DAPP Risk / Return Rank: 24
DAPP Sharpe Ratio Rank: 24
DAPP Sortino Ratio Rank: 27
DAPP Omega Ratio Rank: 26
DAPP Calmar Ratio Rank: 24
DAPP Martin Ratio Rank: 19

BRF

BRF Risk / Return Rank: 24
BRF Sharpe Ratio Rank: 22
BRF Sortino Ratio Rank: 22
BRF Omega Ratio Rank: 23
BRF Calmar Ratio Rank: 27
BRF Martin Ratio Rank: 27

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DAPP vs. BRF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Digital Transformation ETF (DAPP) and VanEck Vectors Brazil Small-Cap ETF (BRF). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	DAPP	BRF	Difference
Sharpe ratio: Return per unit of total volatility	0.83	0.74	+0.09
Sortino ratio: Return per unit of downside risk	1.45	1.16	+0.29
Omega ratio: Gain probability vs. loss probability	1.17	1.15	+0.02
Calmar ratio: Return relative to maximum drawdown	1.06	1.31	-0.25
Martin ratio: Return relative to average drawdown	2.07	3.63	-1.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DAPP vs. BRF - Sharpe Ratio Comparison

The current DAPP Sharpe Ratio is 0.83, which is comparable to the BRF Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of DAPP and BRF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DAPP	BRF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.83	0.74	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.01	-0.11	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.19	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.08	0.06	-0.13

Drawdowns

DAPP vs. BRF - Drawdown Comparison

The maximum DAPP drawdown since its inception was -91.90%, which is greater than BRF's maximum drawdown of -82.26%. Use the drawdown chart below to compare losses from any high point for DAPP and BRF.

Drawdown Indicators

	DAPP	BRF	Difference
Max Drawdown Largest peak-to-trough decline	-91.90%	-82.26%	-9.64%
Max Drawdown (1Y) Largest decline over 1 year	-48.21%	-16.11%	-32.10%
Max Drawdown (3Y) Largest decline over 3 years	-58.88%	-37.81%	-21.07%
Max Drawdown (5Y) Largest decline over 5 years	-91.90%	-50.49%	-41.41%
Max Drawdown (10Y) Largest decline over 10 years	—	-60.43%	—
Current Drawdown Current decline from peak	-27.99%	-48.56%	+20.57%
Average Drawdown Average peak-to-trough decline	-57.40%	-45.74%	-11.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	24.58%	5.80%	+18.78%

Volatility

DAPP vs. BRF - Volatility Comparison

VanEck Digital Transformation ETF (DAPP) has a higher volatility of 15.08% compared to VanEck Vectors Brazil Small-Cap ETF (BRF) at 10.09%. This indicates that DAPP's price experiences larger fluctuations and is considered to be riskier than BRF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DAPP	BRF	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.08%	10.09%	+4.99%
Volatility (6M) Calculated over the trailing 6-month period	46.27%	24.34%	+21.93%
Volatility (1Y) Calculated over the trailing 1-year period	61.53%	28.38%	+33.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.90%	31.64%	+41.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.62%	33.93%	+38.69%

DAPP vs. BRF - Expense Ratio Comparison

DAPP has a 0.50% expense ratio, which is lower than BRF's 0.60% expense ratio.

Dividends

DAPP vs. BRF - Dividend Comparison

DAPP has not paid dividends to shareholders, while BRF's dividend yield for the trailing twelve months is around 5.25%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRF VanEck Vectors Brazil Small-Cap ETF	5.25%	5.54%	4.08%	5.02%	4.13%	2.96%	1.66%	2.54%	2.89%	4.53%	4.25%	3.84%
DAPP VanEck Digital Transformation ETF	0.00%	0.00%	4.04%	0.00%	0.00%	10.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DAPP and BRF in my portfolio?

DAPP and BRF have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DAPP or BRF?

DAPP has higher volatility (15.08%) compared to BRF (10.09%). In terms of maximum drawdown, DAPP dropped -91.90% vs BRF's -82.26%.

Which ETF is better, DAPP or BRF?

On 5-year performance, DAPP leads with -0.41% vs -3.31% for BRF. On fees, DAPP is cheaper at 0.50% per year. On volatility, BRF has been the lower-risk option at 10.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DAPP or BRF?

Over the 5-year period, DAPP has performed better with a -0.41% return vs -3.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DAPP or BRF?

DAPP is cheaper with a 0.50% expense ratio, compared with 0.60% for BRF.

Which ETF pays a higher dividend yield, DAPP or BRF?

BRF has the higher dividend yield at 5.25%, compared with 0.00% for DAPP.

What is the main difference between DAPP and BRF?

DAPP is categorized as Technology Equities, while BRF is Latin America Equities. DAPP tracks MVIS Global Digital Assets Equity Index, while BRF tracks MVIS Brazil Small-Cap Index. Their fees differ too: 0.50% for DAPP and 0.60% for BRF.

Which has better risk-adjusted returns?

DAPP currently has the higher Sharpe Ratio (0.83 vs 0.74), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.