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DGIN vs. EWH
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DGIN vs. EWH

Last updated Aug 2, 2026
Documentation

DGIN (VanEck Digital India ETF) and EWH (iShares MSCI Hong Kong ETF) are both exchange-traded funds - DGIN is a India Equities fund tracking the MVIS Digital India, while EWH is a Asia Pacific Equities fund tracking the MSCI Hong Kong 25-50 Index (USD) (Net). Both are passively managed. Over the past 3 years, DGIN returned 5.12%/yr vs 10.31%/yr for EWH. Their 0.30 correlation means their historical movements had little consistent relationship. DGIN charges 0.76%/yr vs 0.50%/yr for EWH.

Performance

DGIN vs. EWH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Digital India ETF (DGIN) and iShares MSCI Hong Kong ETF (EWH). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DGIN achieves a -11.08% return, which is significantly lower than EWH's 10.37% return.

DGIN

1D
0.08%
1M
2.25%
6M
-4.98%
YTD
-11.08%
1Y
-9.60%
3Y*
5.12%
5Y*
—
10Y*
—
ALL TIME*
0.79%

EWH

1D
-0.94%
1M
10.27%
6M
0.31%
YTD
10.37%
1Y
19.07%
3Y*
10.31%
5Y*
1.39%
10Y*
4.58%
ALL TIME*
4.96%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

DGIN

VanEck Digital India ETF
$46.35K$61.06K$105.41K

EWH

iShares MSCI Hong Kong ETF
$69.57M$66.33M$66.62M

DGIN vs. EWH - Yearly Performance Comparison

2026 (YTD)2025202420232022
DGIN
VanEck Digital India ETF		-11.08%-6.00%22.56%30.30%-22.40%
EWH
iShares MSCI Hong Kong ETF		10.37%34.50%0.00%-13.87%-12.33%

Correlation

The correlation between DGIN and EWH is 0.30, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.30

Correlation (3Y)
Balances recent behavior with more history.

0.25

Correlation (All Time)
Calculated using the full available price history since Feb 17, 2022

0.30

DGIN vs. EWH - Sectors Allocation Comparison

Sectors
DGIN
EWH

Communication Services

28.1%
1.8%

Financial Services

22.3%
42.5%

Technology

20.6%

-

Consumer Cyclical

20.0%
3.8%

Energy

8.1%

-

Industrials

1.0%
19.8%

Healthcare

0.9%

-

Basic Materials

-

-

Consumer Defensive

-

2.6%

Real Estate

-

17.5%

Utilities

-

12.1%

Communication Services

DGIN
28.1%
EWH
1.8%

Financial Services

DGIN
22.3%
EWH
42.5%

Technology

DGIN
20.6%
EWH

-

Consumer Cyclical

DGIN
20.0%
EWH
3.8%

Energy

DGIN
8.1%
EWH

-

Industrials

DGIN
1.0%
EWH
19.8%

Healthcare

DGIN
0.9%
EWH

-

Basic Materials

DGIN

-

EWH

-

Consumer Defensive

DGIN

-

EWH
2.6%

Real Estate

DGIN

-

EWH
17.5%

Utilities

DGIN

-

EWH
12.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

VanEck Digital India ETF

iShares MSCI Hong Kong ETF

Often compared with DGIN:
DGIN vs. INQQDGIN vs. NDIADGIN vs. INCODGIN vs. GLINDGIN vs. FLINDGIN vs. NFTYDGIN vs. EPI
Often compared with EWH:
EWH vs. MCHIEWH vs. FXIEWH vs. EWYEWH vs. EWSEWH vs. EWTEWH vs. EWJEWH vs. EPP

Return for Risk

DGIN vs. EWH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
DGIN
DGIN Risk / Return Rank: 55
Overall Rank
DGIN Sharpe Ratio Rank: 55
Sharpe Ratio Rank
DGIN Sortino Ratio Rank: 55
Sortino Ratio Rank
DGIN Omega Ratio Rank: 55
Omega Ratio Rank
DGIN Calmar Ratio Rank: 77
Calmar Ratio Rank
DGIN Martin Ratio Rank: 66
Martin Ratio Rank
EWH
EWH Risk / Return Rank: 3838
Overall Rank
EWH Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
EWH Sortino Ratio Rank: 4141
Sortino Ratio Rank
EWH Omega Ratio Rank: 3838
Omega Ratio Rank
EWH Calmar Ratio Rank: 3737
Calmar Ratio Rank
EWH Martin Ratio Rank: 3434
Martin Ratio Rank
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.

DGIN vs. EWH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Digital India ETF (DGIN) and iShares MSCI Hong Kong ETF (EWH). 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.

DGINEWHDifference
Sharpe ratioReturn per unit of total volatility
-0.52
1.02

-1.54

Sortino ratioReturn per unit of downside risk
-0.64
1.51

-2.16

Omega ratioGain probability vs. loss probability

0.93

1.18

-0.25

Calmar ratioReturn relative to maximum drawdown

-0.35

1.27

-1.62

Martin ratioReturn relative to average drawdown

-0.72

3.29

-4.00

DGIN vs. EWH - Sharpe Ratio Comparison

The current DGIN Sharpe Ratio is -0.52, which is lower than the EWH Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of DGIN and EWH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

DGIN vs. EWH - Drawdown Comparison

The maximum DGIN drawdown since its inception was -33.65%, smaller than the maximum EWH drawdown of -66.44%. Use the drawdown chart below to compare losses from any high point for DGIN and EWH.

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Drawdown Indicators

DGINEWHDifference

Max Drawdown

Largest peak-to-trough decline

-33.65%

-66.44%

+32.79%

Max Drawdown (1Y)

Largest decline over 1 year

-28.59%

-13.41%

-15.18%

Max Drawdown (3Y)

Largest decline over 3 years

-33.65%

-23.77%

-9.88%

Max Drawdown (5Y)

Largest decline over 5 years

—

-39.32%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-42.71%

—

Current Drawdown

Current decline from peak

-20.32%

-4.47%

-15.85%

Average Drawdown

Average peak-to-trough decline

-13.63%

-19.43%

+5.80%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.88%

5.17%

+8.71%

Volatility

DGIN vs. EWH - Volatility Comparison

VanEck Digital India ETF (DGIN) has a higher volatility of 5.17% compared to iShares MSCI Hong Kong ETF (EWH) at 4.14%. This indicates that DGIN's price experiences larger fluctuations and is considered to be riskier than EWH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DGINEWHDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.17%

4.14%

+1.03%

Volatility (6M)

Calculated over the trailing 6-month period

16.00%

12.01%

+3.99%

Volatility (1Y)

Calculated over the trailing 1-year period

19.03%

16.70%

+2.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.88%

20.09%

-1.21%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.88%

19.52%

-0.64%

DGIN vs. EWH - Expense Ratio Comparison

DGIN has a 0.76% expense ratio, which is higher than EWH's 0.50% expense ratio.

Dividends

DGIN vs. EWH - Dividend Comparison

DGIN's dividend yield for the trailing twelve months is around 2.14%, less than EWH's 4.49% yield.

PositionTTM20252024202320222021202020192018201720162015
DGIN
VanEck Digital India ETF		2.14%1.90%0.00%0.24%0.97%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
EWH
iShares MSCI Hong Kong ETF		4.49%5.20%4.17%4.28%2.91%2.78%2.56%2.71%2.93%4.35%3.08%2.63%

Frequently Asked Questions

DGIN and EWH have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DGIN has higher volatility (5.17%) compared to EWH (4.14%). In terms of maximum drawdown, DGIN dropped -33.65% vs EWH's -66.44%.

On 3-year performance, EWH leads with 10.31% vs 5.12% for DGIN. On fees, EWH is cheaper at 0.50% per year. On volatility, EWH has been the lower-risk option at 4.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, EWH has performed better with a 10.31% return vs 5.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EWH is cheaper with a 0.50% expense ratio, compared with 0.76% for DGIN.

EWH has the higher dividend yield at 4.49%, compared with 2.14% for DGIN.

DGIN is categorized as India Equities, while EWH is Asia Pacific Equities. DGIN tracks MVIS Digital India, while EWH tracks MSCI Hong Kong 25-50 Index (USD) (Net). They also come from different issuers: VanEck and iShares. Their fees differ too: 0.76% for DGIN and 0.50% for EWH.

EWH currently has the higher Sharpe Ratio (1.02 vs -0.52), 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.

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