AGIX vs. DRGN

Last updated Aug 6, 2026

AGIX (KraneShares Artificial Intelligence & Technology ETF) and DRGN (Themes China Generative Artificial Intelligence ETF) are both Artificial Intelligence funds - AGIX tracks the Solactive Etna Artificial General Intelligence Index while DRGN tracks the BITA China Generative AI Select Index. Both are passively managed. Over the past year, AGIX returned 41.17% vs 37.40% for DRGN. Their 0.48 correlation means their historical movements had little consistent relationship. AGIX charges 1.00%/yr vs 0.39%/yr for DRGN.

Performance

AGIX vs. DRGN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares Artificial Intelligence & Technology ETF (AGIX) and Themes China Generative Artificial Intelligence ETF (DRGN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AGIX achieves a 22.77% return, which is significantly higher than DRGN's 14.26% return.

AGIX

• 1D: -1.61%
• 1M: -2.11%
• 6M: 33.77%
• YTD: 22.77%
• 1Y: 41.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 32.94%

DRGN

• 1D: 0.49%
• 1M: 3.14%
• 6M: 10.08%
• YTD: 14.26%
• 1Y: 37.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 42.19%

*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)
AGIX KraneShares Artificial Intelligence & Technology ETF	$6.66M	$6.82M	$17.79M
DRGN Themes China Generative Artificial Intelligence ETF	$472.74K	$436.99K	$543.93K

AGIX vs. DRGN - Yearly Performance Comparison

	2026 (YTD)	2025
AGIX KraneShares Artificial Intelligence & Technology ETF	22.77%	16.46%
DRGN Themes China Generative Artificial Intelligence ETF	14.26%	26.96%

Correlation

The correlation between AGIX and DRGN is 0.48, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.48
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	0.48

Return for Risk

AGIX vs. DRGN — Risk / Return Rank

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

AGIX

AGIX Risk / Return Rank: 47
AGIX Sharpe Ratio Rank: 50
AGIX Sortino Ratio Rank: 48
AGIX Omega Ratio Rank: 45
AGIX Calmar Ratio Rank: 51
AGIX Martin Ratio Rank: 42

DRGN

DRGN Risk / Return Rank: 37
DRGN Sharpe Ratio Rank: 36
DRGN Sortino Ratio Rank: 37
DRGN Omega Ratio Rank: 35
DRGN Calmar Ratio Rank: 43
DRGN Martin Ratio Rank: 33

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.

AGIX vs. DRGN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares Artificial Intelligence & Technology ETF (AGIX) and Themes China Generative Artificial Intelligence ETF (DRGN). 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.

	AGIX	DRGN	Difference
Sharpe ratio: Return per unit of total volatility	1.43	1.02	+0.40
Sortino ratio: Return per unit of downside risk	1.98	1.60	+0.38
Omega ratio: Gain probability vs. loss probability	1.24	1.19	+0.05
Calmar ratio: Return relative to maximum drawdown	2.08	1.80	+0.28
Martin ratio: Return relative to average drawdown	5.16	3.57	+1.59

AGIX vs. DRGN - Sharpe Ratio Comparison

The current AGIX Sharpe Ratio is 1.43, which is higher than the DRGN Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of AGIX and DRGN, 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

AGIX vs. DRGN - Drawdown Comparison

The maximum AGIX drawdown since its inception was -31.48%, which is greater than DRGN's maximum drawdown of -20.86%. Use the drawdown chart below to compare losses from any high point for AGIX and DRGN.

Drawdown Indicators

	AGIX	DRGN	Difference
Max Drawdown Largest peak-to-trough decline	-31.48%	-20.86%	-10.62%
Max Drawdown (1Y) Largest decline over 1 year	-19.85%	-20.86%	+1.01%
Current Drawdown Current decline from peak	-9.78%	-8.88%	-0.90%
Average Drawdown Average peak-to-trough decline	-6.19%	-8.41%	+2.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.99%	10.49%	-2.50%

Volatility

AGIX vs. DRGN - Volatility Comparison

The current volatility for KraneShares Artificial Intelligence & Technology ETF (AGIX) is 10.35%, while Themes China Generative Artificial Intelligence ETF (DRGN) has a volatility of 12.61%. This indicates that AGIX experiences smaller price fluctuations and is considered to be less risky than DRGN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGIX	DRGN	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.35%	12.61%	-2.26%
Volatility (6M) Calculated over the trailing 6-month period	24.26%	26.10%	-1.84%
Volatility (1Y) Calculated over the trailing 1-year period	29.00%	36.73%	-7.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.23%	36.09%	-5.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.23%	36.09%	-5.86%

AGIX vs. DRGN - Expense Ratio Comparison

AGIX has a 1.00% expense ratio, which is higher than DRGN's 0.39% expense ratio.

Dividends

AGIX vs. DRGN - Dividend Comparison

AGIX's dividend yield for the trailing twelve months is around 0.98%, less than DRGN's 1.06% yield.

Position	TTM	2025	2024
AGIX KraneShares Artificial Intelligence & Technology ETF	0.98%	1.21%	0.77%
DRGN Themes China Generative Artificial Intelligence ETF	1.06%	1.22%	0.00%

Frequently Asked Questions

Can I hold both AGIX and DRGN in my portfolio?

AGIX and DRGN have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AGIX or DRGN?

DRGN has higher volatility (12.61%) compared to AGIX (10.35%). In terms of maximum drawdown, AGIX dropped -31.48% vs DRGN's -20.86%.

Which ETF is better, AGIX or DRGN?

On 1-year performance, AGIX leads with 41.17% vs 37.40% for DRGN. On fees, DRGN is cheaper at 0.39% per year. On volatility, AGIX has been the lower-risk option at 10.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AGIX or DRGN?

Over the 1-year period, AGIX has performed better with a 41.17% return vs 37.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AGIX or DRGN?

DRGN is cheaper with a 0.39% expense ratio, compared with 1.00% for AGIX.

Which ETF pays a higher dividend yield, AGIX or DRGN?

DRGN has the higher dividend yield at 1.06%, compared with 0.98% for AGIX.

What is the main difference between AGIX and DRGN?

AGIX tracks Solactive Etna Artificial General Intelligence Index, while DRGN tracks BITA China Generative AI Select Index. They also come from different issuers: KraneShares and Themes. Their fees differ too: 1.00% for AGIX and 0.39% for DRGN.

Which has better risk-adjusted returns?

AGIX currently has the higher Sharpe Ratio (1.43 vs 1.02), 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.