DGIN vs. INDA

Last updated Jun 5, 2026

DGIN (VanEck Digital India ETF) and INDA (iShares MSCI India ETF) are both Asia Pacific Equities funds - DGIN tracks the MVIS Digital India while INDA tracks the MSCI India Index. Both are passively managed. Over the past 3 years, DGIN returned 5.31%/yr vs 4.75%/yr for INDA. Their correlation of 0.84 suggests significant overlap in exposure. DGIN charges 0.76%/yr vs 0.69%/yr for INDA.

Performance

DGIN vs. INDA - Performance Comparison

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

Returns By Period

In the year-to-date period, DGIN achieves a -16.15% return, which is significantly lower than INDA's -11.16% return.

DGIN

• 1D: 1.56%
• 1M: 1.37%
• YTD: -16.15%
• 6M: -17.49%
• 1Y: -17.11%
• 3Y*: 5.31%
• 5Y*: —
• 10Y*: —

INDA

• 1D: 1.39%
• 1M: -2.32%
• YTD: -11.16%
• 6M: -10.68%
• 1Y: -10.94%
• 3Y*: 4.75%
• 5Y*: 2.60%
• 10Y*: 6.72%

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

DGIN vs. INDA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DGIN VanEck Digital India ETF	-16.15%	-6.00%	22.56%	30.30%	-21.84%
INDA iShares MSCI India ETF	-11.16%	2.68%	8.63%	17.16%	-6.41%

Correlation

The correlation between DGIN and INDA is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (All Time) Calculated using the full available price history since Feb 18, 2022	0.84

The correlation between DGIN and INDA has been stable across timeframes, ranging from 0.83 to 0.85 - a consistent structural relationship.

DGIN vs. INDA - Sectors Allocation Comparison

Sectors	DGIN	INDA
Communication Services	29.9%	4.7%
Technology	23.0%	8.3%
Financial Services	21.1%	28.4%
Consumer Cyclical	16.8%	12.5%
Energy	7.9%	9.5%
Industrials	1.4%	10.3%
Healthcare	0.9%	6.2%
Basic Materials	-	8.0%
Consumer Defensive	-	6.2%
Real Estate	-	1.4%
Utilities	-	4.6%

Return for Risk

DGIN vs. INDA — Risk / Return Rank

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

DGIN

DGIN Risk / Return Rank: 3
DGIN Sharpe Ratio Rank: 2
DGIN Sortino Ratio Rank: 2
DGIN Omega Ratio Rank: 2
DGIN Calmar Ratio Rank: 4
DGIN Martin Ratio Rank: 3

INDA

INDA Risk / Return Rank: 3
INDA Sharpe Ratio Rank: 3
INDA Sortino Ratio Rank: 3
INDA Omega Ratio Rank: 3
INDA Calmar Ratio Rank: 4
INDA Martin Ratio Rank: 2

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.

DGIN vs. INDA - Risk-Adjusted Trends Comparison

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

	DGIN	INDA	Difference
Sharpe ratio: Return per unit of total volatility	-0.94	-0.75	-0.19
Sortino ratio: Return per unit of downside risk	-1.29	-1.01	-0.28
Omega ratio: Gain probability vs. loss probability	0.86	0.89	-0.03
Calmar ratio: Return relative to maximum drawdown	-0.56	-0.59	+0.02
Martin ratio: Return relative to average drawdown	-1.22	-1.41	+0.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DGIN vs. INDA - Sharpe Ratio Comparison

The current DGIN Sharpe Ratio is -0.94, which is comparable to the INDA Sharpe Ratio of -0.75. The chart below compares the historical Sharpe Ratios of DGIN and INDA, 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

	DGIN	INDA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.94	-0.75	-0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.17	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.32	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.02	0.24	-0.26

Drawdowns

DGIN vs. INDA - Drawdown Comparison

The maximum DGIN drawdown since its inception was -33.65%, smaller than the maximum INDA drawdown of -45.07%. Use the drawdown chart below to compare losses from any high point for DGIN and INDA.

Drawdown Indicators

	DGIN	INDA	Difference
Max Drawdown Largest peak-to-trough decline	-33.65%	-45.07%	+11.42%
Max Drawdown (1Y) Largest decline over 1 year	-30.49%	-18.69%	-11.80%
Max Drawdown (3Y) Largest decline over 3 years	-33.65%	-22.72%	-10.93%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.72%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-45.07%	—
Current Drawdown Current decline from peak	-24.87%	-18.30%	-6.57%
Average Drawdown Average peak-to-trough decline	-13.30%	-9.57%	-3.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.01%	7.76%	+6.25%

Volatility

DGIN vs. INDA - Volatility Comparison

VanEck Digital India ETF (DGIN) has a higher volatility of 6.26% compared to iShares MSCI India ETF (INDA) at 5.34%. This indicates that DGIN's price experiences larger fluctuations and is considered to be riskier than INDA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DGIN	INDA	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.26%	5.34%	+0.92%
Volatility (6M) Calculated over the trailing 6-month period	15.63%	12.72%	+2.91%
Volatility (1Y) Calculated over the trailing 1-year period	18.38%	14.71%	+3.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.90%	15.38%	+3.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.90%	21.12%	-2.22%

DGIN vs. INDA - Expense Ratio Comparison

DGIN has a 0.76% expense ratio, which is higher than INDA's 0.69% expense ratio.

Dividends

DGIN vs. INDA - Dividend Comparison

DGIN's dividend yield for the trailing twelve months is around 2.27%, while INDA has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGIN VanEck Digital India ETF	2.27%	1.90%	0.00%	0.24%	0.97%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
INDA iShares MSCI India ETF	0.00%	0.00%	0.76%	0.16%	0.00%	6.44%	0.27%	0.99%	0.94%	1.09%	0.90%	1.19%

Frequently Asked Questions

Can I hold both DGIN and INDA in my portfolio?

DGIN and INDA have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DGIN or INDA?

DGIN has higher volatility (6.26%) compared to INDA (5.34%). In terms of maximum drawdown, DGIN dropped -33.65% vs INDA's -45.07%.

Which ETF is better, DGIN or INDA?

On 3-year performance, DGIN leads with 5.31% vs 4.75% for INDA. On fees, INDA is cheaper at 0.69% per year. On volatility, INDA has been the lower-risk option at 5.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DGIN or INDA?

Over the 3-year period, DGIN has performed better with a 5.31% return vs 4.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DGIN or INDA?

INDA is cheaper with a 0.69% expense ratio, compared with 0.76% for DGIN.

Which ETF pays a higher dividend yield, DGIN or INDA?

DGIN has the higher dividend yield at 2.27%, compared with 0.00% for INDA.

What is the main difference between DGIN and INDA?

DGIN tracks MVIS Digital India, while INDA tracks MSCI India Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.76% for DGIN and 0.69% for INDA.

Which has better risk-adjusted returns?

INDA currently has the higher Sharpe Ratio (-0.75 vs -0.94), 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.