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DGIN vs. SMIN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DGIN vs. SMIN

Last updated Aug 2, 2026
Documentation

DGIN (VanEck Digital India ETF) and SMIN (iShares MSCI India Small-Cap ETF) are both India Equities funds - DGIN tracks the MVIS Digital India while SMIN tracks the MSCI India Small Cap Index. Both are passively managed. Over the past 3 years, DGIN returned 5.12%/yr vs 7.81%/yr for SMIN. Their 0.77 correlation means they have sometimes moved together and sometimes differently. DGIN charges 0.76%/yr vs 0.74%/yr for SMIN.

Performance

DGIN vs. SMIN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Digital India ETF (DGIN) and iShares MSCI India Small-Cap ETF (SMIN). 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 SMIN's 0.14% 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%

SMIN

1D
0.36%
1M
-1.13%
6M
6.30%
YTD
0.14%
1Y
-2.16%
3Y*
7.81%
5Y*
6.28%
10Y*
9.04%
ALL TIME*
8.80%
*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

SMIN

iShares MSCI India Small-Cap ETF
$9.23M$9.44M$11.13M

DGIN vs. SMIN - Yearly Performance Comparison

2026 (YTD)2025202420232022
DGIN
VanEck Digital India ETF		-11.08%-6.00%22.56%30.30%-22.40%
SMIN
iShares MSCI India Small-Cap ETF		0.14%-6.68%16.78%35.41%-9.82%

Correlation

The correlation between DGIN and SMIN is 0.80, meaning they have usually moved in the same direction, including during past declines.

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

0.80

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

0.75

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

0.77

The correlation between DGIN and SMIN has been stable across timeframes, ranging from 0.75 to 0.80 - a consistent structural relationship.

DGIN vs. SMIN - Sectors Allocation Comparison

Sectors
DGIN
SMIN

Communication Services

28.1%
1.5%

Financial Services

22.3%
17.0%

Technology

20.6%
8.5%

Consumer Cyclical

20.0%
14.5%

Energy

8.1%
1.0%

Industrials

1.0%
21.7%

Healthcare

0.9%
15.0%

Basic Materials

-

11.0%

Consumer Defensive

-

4.0%

Real Estate

-

3.4%

Utilities

-

2.6%

Communication Services

DGIN
28.1%
SMIN
1.5%

Financial Services

DGIN
22.3%
SMIN
17.0%

Technology

DGIN
20.6%
SMIN
8.5%

Consumer Cyclical

DGIN
20.0%
SMIN
14.5%

Energy

DGIN
8.1%
SMIN
1.0%

Industrials

DGIN
1.0%
SMIN
21.7%

Healthcare

DGIN
0.9%
SMIN
15.0%

Basic Materials

DGIN

-

SMIN
11.0%

Consumer Defensive

DGIN

-

SMIN
4.0%

Real Estate

DGIN

-

SMIN
3.4%

Utilities

DGIN

-

SMIN
2.6%

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 India Small-Cap ETF

Often compared with DGIN:
DGIN vs. INQQDGIN vs. NDIADGIN vs. INCODGIN vs. GLINDGIN vs. FLINDGIN vs. NFTYDGIN vs. EPI
Often compared with SMIN:
SMIN vs. INDASMIN vs. EPISMIN vs. FLINSMIN vs. INCOSMIN vs. NFTYSMIN vs. EWSSMIN vs. INDF

Return for Risk

DGIN vs. SMIN — 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
SMIN
SMIN Risk / Return Rank: 99
Overall Rank
SMIN Sharpe Ratio Rank: 99
Sharpe Ratio Rank
SMIN Sortino Ratio Rank: 88
Sortino Ratio Rank
SMIN Omega Ratio Rank: 88
Omega Ratio Rank
SMIN Calmar Ratio Rank: 99
Calmar Ratio Rank
SMIN Martin Ratio Rank: 99
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. SMIN - Risk-Adjusted Trends Comparison

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

DGINSMINDifference
Sharpe ratioReturn per unit of total volatility
-0.52
-0.13

-0.39

Sortino ratioReturn per unit of downside risk
-0.64
-0.06

-0.59

Omega ratioGain probability vs. loss probability

0.93

0.99

-0.07

Calmar ratioReturn relative to maximum drawdown

-0.35

-0.11

-0.23

Martin ratioReturn relative to average drawdown

-0.72

-0.29

-0.43

DGIN vs. SMIN - Sharpe Ratio Comparison

The current DGIN Sharpe Ratio is -0.52, which is lower than the SMIN Sharpe Ratio of -0.13. The chart below compares the historical Sharpe Ratios of DGIN and SMIN, 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. SMIN - Drawdown Comparison

The maximum DGIN drawdown since its inception was -33.65%, smaller than the maximum SMIN drawdown of -60.50%. Use the drawdown chart below to compare losses from any high point for DGIN and SMIN.

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Drawdown Indicators

DGINSMINDifference

Max Drawdown

Largest peak-to-trough decline

-33.65%

-60.50%

+26.85%

Max Drawdown (1Y)

Largest decline over 1 year

-28.59%

-21.99%

-6.60%

Max Drawdown (3Y)

Largest decline over 3 years

-33.65%

-27.58%

-6.07%

Max Drawdown (5Y)

Largest decline over 5 years

—

-27.58%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-60.50%

—

Current Drawdown

Current decline from peak

-20.32%

-12.42%

-7.90%

Average Drawdown

Average peak-to-trough decline

-13.63%

-14.60%

+0.97%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.88%

8.75%

+5.13%

Volatility

DGIN vs. SMIN - Volatility Comparison

VanEck Digital India ETF (DGIN) has a higher volatility of 5.17% compared to iShares MSCI India Small-Cap ETF (SMIN) at 4.91%. This indicates that DGIN's price experiences larger fluctuations and is considered to be riskier than SMIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DGINSMINDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.17%

4.91%

+0.26%

Volatility (6M)

Calculated over the trailing 6-month period

16.00%

15.74%

+0.26%

Volatility (1Y)

Calculated over the trailing 1-year period

19.03%

19.05%

-0.02%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.88%

18.99%

-0.11%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.88%

22.84%

-3.96%

DGIN vs. SMIN - Expense Ratio Comparison

DGIN has a 0.76% expense ratio, which is higher than SMIN's 0.74% expense ratio.

Dividends

DGIN vs. SMIN - Dividend Comparison

DGIN's dividend yield for the trailing twelve months is around 2.14%, more than SMIN's 2.01% 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%
SMIN
iShares MSCI India Small-Cap ETF		2.01%2.01%6.84%0.41%0.01%1.27%1.06%1.75%1.68%0.89%2.30%0.93%

Frequently Asked Questions

DGIN and SMIN have a correlation of 0.80, 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 SMIN (4.91%). In terms of maximum drawdown, DGIN dropped -33.65% vs SMIN's -60.50%.

On 3-year performance, SMIN leads with 7.81% vs 5.12% for DGIN. On fees, SMIN is cheaper at 0.74% per year. On volatility, SMIN has been the lower-risk option at 4.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, SMIN has performed better with a 7.81% return vs 5.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SMIN is cheaper with a 0.74% expense ratio, compared with 0.76% for DGIN.

DGIN has the higher dividend yield at 2.14%, compared with 2.01% for SMIN.

DGIN tracks MVIS Digital India, while SMIN tracks MSCI India Small Cap Index. They also come from different issuers: VanEck and iShares. Their fees differ too: 0.76% for DGIN and 0.74% for SMIN.

SMIN currently has the higher Sharpe Ratio (-0.13 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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