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DGIN vs. INDY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DGIN vs. INDY

Last updated Jun 4, 2026

DGIN (VanEck Digital India ETF) and INDY (iShares India 50 ETF) are both Asia Pacific Equities funds - DGIN tracks the MVIS Digital India while INDY tracks the S&P CNX Nifty Index. Both are passively managed. Over the past 3 years, DGIN returned 4.25%/yr vs 1.39%/yr for INDY. Their correlation of 0.81 suggests significant overlap in exposure. DGIN charges 0.76%/yr vs 0.94%/yr for INDY.

Performance

DGIN vs. INDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Digital India ETF (DGIN) and iShares India 50 ETF (INDY). 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 -17.44% return, which is significantly lower than INDY's -15.38% return.

DGIN

1D
-1.49%
1M
1.15%
YTD
-17.44%
6M
-17.76%
1Y
-17.63%
3Y*
4.25%
5Y*
—
10Y*
—

INDY

1D
-1.35%
1M
-3.23%
YTD
-15.38%
6M
-14.03%
1Y
-14.69%
3Y*
1.39%
5Y*
1.15%
10Y*
6.14%
*Multi-year figures are annualized to reflect compound growth (CAGR)

DGIN vs. INDY - Yearly Performance Comparison

2026 (YTD)2025202420232022
DGIN
VanEck Digital India ETF		-17.44%-6.00%22.56%30.30%-21.84%
INDY
iShares India 50 ETF		-15.38%4.97%3.47%16.88%-5.51%

Correlation

The correlation between DGIN and INDY is 0.83, 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

0.83

Correlation (3Y)
Calculated over the trailing 3-year period

0.80

Correlation (All Time)
Calculated using the full available price history since Feb 18, 2022

0.81

The correlation between DGIN and INDY has been stable across timeframes, ranging from 0.80 to 0.83 - a consistent structural relationship.

DGIN vs. INDY - Sectors Allocation Comparison

Sectors
DGIN
INDY

Communication Services

29.9%
5.3%

Technology

23.0%
8.6%

Financial Services

21.1%
35.3%

Consumer Cyclical

16.8%
10.7%

Energy

7.9%
11.4%

Industrials

1.4%
7.7%

Healthcare

0.9%
4.5%

Basic Materials

-

7.3%

Consumer Defensive

-

6.2%

Real Estate

-

-

Utilities

-

3.0%

Communication Services

DGIN
29.9%
INDY
5.3%

Technology

DGIN
23.0%
INDY
8.6%

Financial Services

DGIN
21.1%
INDY
35.3%

Consumer Cyclical

DGIN
16.8%
INDY
10.7%

Energy

DGIN
7.9%
INDY
11.4%

Industrials

DGIN
1.4%
INDY
7.7%

Healthcare

DGIN
0.9%
INDY
4.5%

Basic Materials

DGIN

-

INDY
7.3%

Consumer Defensive

DGIN

-

INDY
6.2%

Real Estate

DGIN

-

INDY

-

Utilities

DGIN

-

INDY
3.0%

Compare stocks, funds, or ETFs

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VanEck Digital India ETF

iShares India 50 ETF

Often compared with DGIN:
DGIN vs. INQQDGIN vs. NDIADGIN vs. INCODGIN vs. GLINDGIN vs. FLINDGIN vs. EPIDGIN vs. NFTY
Often compared with INDY:
INDY vs. INDAINDY vs. NFTYINDY vs. EPIINDY vs. FLININDY vs. VOOINDY vs. XNIF.LINDY vs. GLIN

Return for Risk

DGIN vs. INDY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DGIN
DGIN Risk / Return Rank: 22
Overall Rank
DGIN Sharpe Ratio Rank: 22
Sharpe Ratio Rank
DGIN Sortino Ratio Rank: 22
Sortino Ratio Rank
DGIN Omega Ratio Rank: 22
Omega Ratio Rank
DGIN Calmar Ratio Rank: 44
Calmar Ratio Rank
DGIN Martin Ratio Rank: 33
Martin Ratio Rank
INDY
INDY Risk / Return Rank: 11
Overall Rank
INDY Sharpe Ratio Rank: 11
Sharpe Ratio Rank
INDY Sortino Ratio Rank: 11
Sortino Ratio Rank
INDY Omega Ratio Rank: 22
Omega Ratio Rank
INDY Calmar Ratio Rank: 22
Calmar Ratio Rank
INDY Martin Ratio Rank: 00
Martin Ratio Rank
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. INDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Digital India ETF (DGIN) and iShares India 50 ETF (INDY). 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.

DGININDYDifference
Sharpe ratioReturn per unit of total volatility
-0.97
-1.04

+0.08

Sortino ratioReturn per unit of downside risk
-1.34
-1.49

+0.15

Omega ratioGain probability vs. loss probability

0.85

0.83

+0.02

Calmar ratioReturn relative to maximum drawdown

-0.58

-0.78

+0.20

Martin ratioReturn relative to average drawdown

-1.27

-1.78

+0.52

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. INDY - Sharpe Ratio Comparison

The current DGIN Sharpe Ratio is -0.97, which is comparable to the INDY Sharpe Ratio of -1.04. The chart below compares the historical Sharpe Ratios of DGIN and INDY, 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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Sharpe Ratios by Period

DGININDYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-0.97

-1.04

+0.08

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.08

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.31

—

Sharpe Ratio (All Time)

Calculated using the full available price history

-0.04

0.21

-0.25

Drawdowns

DGIN vs. INDY - Drawdown Comparison

The maximum DGIN drawdown since its inception was -33.65%, smaller than the maximum INDY drawdown of -44.74%. Use the drawdown chart below to compare losses from any high point for DGIN and INDY.

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Drawdown Indicators

DGININDYDifference

Max Drawdown

Largest peak-to-trough decline

-33.65%

-44.74%

+11.09%

Max Drawdown (1Y)

Largest decline over 1 year

-30.49%

-18.95%

-11.54%

Max Drawdown (3Y)

Largest decline over 3 years

-33.65%

-22.40%

-11.25%

Max Drawdown (5Y)

Largest decline over 5 years

—

-22.40%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-43.50%

—

Current Drawdown

Current decline from peak

-26.03%

-21.00%

-5.03%

Average Drawdown

Average peak-to-trough decline

-13.28%

-12.22%

-1.06%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.94%

8.25%

+5.69%

Volatility

DGIN vs. INDY - Volatility Comparison

VanEck Digital India ETF (DGIN) has a higher volatility of 6.21% compared to iShares India 50 ETF (INDY) at 4.79%. This indicates that DGIN's price experiences larger fluctuations and is considered to be riskier than INDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DGININDYDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.21%

4.79%

+1.42%

Volatility (6M)

Calculated over the trailing 6-month period

15.54%

12.25%

+3.29%

Volatility (1Y)

Calculated over the trailing 1-year period

18.33%

14.18%

+4.15%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.89%

14.94%

+3.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.89%

19.58%

-0.69%

DGIN vs. INDY - Expense Ratio Comparison

DGIN has a 0.76% expense ratio, which is lower than INDY's 0.94% expense ratio.

Dividends

DGIN vs. INDY - Dividend Comparison

DGIN's dividend yield for the trailing twelve months is around 2.30%, less than INDY's 9.58% yield.

PositionTTM20252024202320222021202020192018201720162015
DGIN
VanEck Digital India ETF		2.30%1.90%0.00%0.24%0.97%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
INDY
iShares India 50 ETF		9.58%8.11%0.24%0.38%3.75%7.12%0.08%0.58%0.55%0.27%0.48%0.57%

Frequently Asked Questions

DGIN and INDY have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DGIN has higher volatility (6.21%) compared to INDY (4.79%). In terms of maximum drawdown, DGIN dropped -33.65% vs INDY's -44.74%.

On 3-year performance, DGIN leads with 4.25% vs 1.39% for INDY. On fees, DGIN is cheaper at 0.76% per year. On volatility, INDY has been the lower-risk option at 4.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, DGIN has performed better with a 4.25% return vs 1.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

DGIN is cheaper with a 0.76% expense ratio, compared with 0.94% for INDY.

INDY has the higher dividend yield at 9.58%, compared with 2.30% for DGIN.

DGIN tracks MVIS Digital India, while INDY tracks S&P CNX Nifty Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.76% for DGIN and 0.94% for INDY.

DGIN currently has the higher Sharpe Ratio (-0.97 vs -1.04), 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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