DAPP vs. FDIG

Last updated Aug 2, 2026

DAPP (VanEck Digital Transformation ETF) and FDIG (Fidelity Crypto Industry and Digital Payments ETF) are both Blockchain funds - DAPP tracks the MVIS Global Digital Assets Equity Index while FDIG tracks the Fidelity Crypto Industry and Digital Payments Index. Both are passively managed. Over the past 3 years, DAPP returned 30.75%/yr vs 21.94%/yr for FDIG. Their 0.96 correlation means they have historically moved very closely together. DAPP charges 0.52%/yr vs 0.39%/yr for FDIG.

Performance

DAPP vs. FDIG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Digital Transformation ETF (DAPP) and Fidelity Crypto Industry and Digital Payments ETF (FDIG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with DAPP having a 6.65% return and FDIG slightly higher at 6.72%.

DAPP

• 1D: -3.40%
• 1M: -4.60%
• 6M: -2.22%
• YTD: 6.65%
• 1Y: 9.98%
• 3Y*: 30.75%
• 5Y*: -3.48%
• 10Y*: —
• ALL TIME*: -11.19%

FDIG

• 1D: -2.34%
• 1M: -1.73%
• 6M: 4.01%
• YTD: 6.72%
• 1Y: 18.46%
• 3Y*: 21.94%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.23%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DAPP VanEck Digital Transformation ETF	$5.30M	$5.85M	$16.14M
FDIG Fidelity Crypto Industry and Digital Payments ETF	$1.07M	$1.09M	$1.90M

DAPP vs. FDIG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DAPP VanEck Digital Transformation ETF	6.65%	15.03%	44.87%	285.02%	-78.15%
FDIG Fidelity Crypto Industry and Digital Payments ETF	6.72%	19.92%	18.41%	166.00%	-59.37%

Correlation

The correlation between DAPP and FDIG is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.98
Correlation (3Y) Balances recent behavior with more history.	0.96
Correlation (All Time) Calculated using the full available price history since Apr 21, 2022	0.96

The correlation between DAPP and FDIG has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

DAPP vs. FDIG - Sectors Allocation Comparison

Sectors	DAPP	FDIG
Financial Services	61.8%	47.4%
Technology	35.4%	34.1%
Consumer Cyclical	2.8%	1.7%
Basic Materials	-	-
Communication Services	-	0.8%
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	1.7%
Real Estate	-	-
Utilities	-	0.7%

Return for Risk

DAPP vs. FDIG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DAPP

DAPP Risk / Return Rank: 13
DAPP Sharpe Ratio Rank: 11
DAPP Sortino Ratio Rank: 16
DAPP Omega Ratio Rank: 15
DAPP Calmar Ratio Rank: 11
DAPP Martin Ratio Rank: 11

FDIG

FDIG Risk / Return Rank: 16
FDIG Sharpe Ratio Rank: 15
FDIG Sortino Ratio Rank: 19
FDIG Omega Ratio Rank: 18
FDIG Calmar Ratio Rank: 15
FDIG Martin Ratio Rank: 14

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DAPP vs. FDIG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Digital Transformation ETF (DAPP) and Fidelity Crypto Industry and Digital Payments ETF (FDIG). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DAPP	FDIG	Difference
Sharpe ratio: Return per unit of total volatility	0.01	0.21	-0.20
Sortino ratio: Return per unit of downside risk	0.48	0.66	-0.17
Omega ratio: Gain probability vs. loss probability	1.05	1.07	-0.02
Calmar ratio: Return relative to maximum drawdown	0.02	0.23	-0.22
Martin ratio: Return relative to average drawdown	0.03	0.41	-0.38

DAPP vs. FDIG - Sharpe Ratio Comparison

The current DAPP Sharpe Ratio is 0.01, which is lower than the FDIG Sharpe Ratio of 0.21. The chart below compares the historical Sharpe Ratios of DAPP and FDIG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DAPP vs. FDIG - Drawdown Comparison

The maximum DAPP drawdown since its inception was -92.61%, which is greater than FDIG's maximum drawdown of -61.35%. Use the drawdown chart below to compare losses from any high point for DAPP and FDIG.

Drawdown Indicators

	DAPP	FDIG	Difference
Max Drawdown Largest peak-to-trough decline	-92.61%	-61.35%	-31.26%
Max Drawdown (1Y) Largest decline over 1 year	-48.21%	-46.69%	-1.52%
Max Drawdown (3Y) Largest decline over 3 years	-58.88%	-49.66%	-9.22%
Max Drawdown (5Y) Largest decline over 5 years	-91.90%	—	—
Current Drawdown Current decline from peak	-46.67%	-29.32%	-17.35%
Average Drawdown Average peak-to-trough decline	-60.79%	-27.49%	-33.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.69%	26.23%	+0.46%

Volatility

DAPP vs. FDIG - Volatility Comparison

VanEck Digital Transformation ETF (DAPP) has a higher volatility of 21.95% compared to Fidelity Crypto Industry and Digital Payments ETF (FDIG) at 14.26%. This indicates that DAPP's price experiences larger fluctuations and is considered to be riskier than FDIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DAPP	FDIG	Difference
Volatility (1M) Calculated over the trailing 1-month period	21.95%	14.26%	+7.69%
Volatility (6M) Calculated over the trailing 6-month period	47.95%	37.43%	+10.52%
Volatility (1Y) Calculated over the trailing 1-year period	64.80%	51.34%	+13.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	73.12%	60.59%	+12.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.72%	60.59%	+12.13%

DAPP vs. FDIG - Expense Ratio Comparison

DAPP has a 0.52% expense ratio, which is higher than FDIG's 0.39% expense ratio.

Dividends

DAPP vs. FDIG - Dividend Comparison

DAPP has not paid dividends to shareholders, while FDIG's dividend yield for the trailing twelve months is around 1.53%.

Position	TTM	2025	2024	2023	2022	2021
DAPP VanEck Digital Transformation ETF	0.00%	0.00%	4.04%	0.00%	0.00%	10.13%
FDIG Fidelity Crypto Industry and Digital Payments ETF	1.53%	1.14%	1.17%	0.18%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DAPP and FDIG in my portfolio?

With a correlation of 0.98, DAPP and FDIG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DAPP or FDIG?

DAPP has higher volatility (21.95%) compared to FDIG (14.26%). In terms of maximum drawdown, DAPP dropped -92.61% vs FDIG's -61.35%.

Which ETF is better, DAPP or FDIG?

On 3-year performance, DAPP leads with 30.75% vs 21.94% for FDIG. On fees, FDIG is cheaper at 0.39% per year. On volatility, FDIG has been the lower-risk option at 14.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DAPP or FDIG?

Over the 3-year period, DAPP has performed better with a 30.75% return vs 21.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DAPP or FDIG?

FDIG is cheaper with a 0.39% expense ratio, compared with 0.52% for DAPP.

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

FDIG has the higher dividend yield at 1.53%, compared with 0.00% for DAPP.

What is the main difference between DAPP and FDIG?

DAPP tracks MVIS Global Digital Assets Equity Index, while FDIG tracks Fidelity Crypto Industry and Digital Payments Index. They also come from different issuers: VanEck and Fidelity. Their fees differ too: 0.52% for DAPP and 0.39% for FDIG.

Which has better risk-adjusted returns?

FDIG currently has the higher Sharpe Ratio (0.21 vs 0.01), 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.