DRGN vs. ARMH

Last updated Jul 16, 2026

DRGN (Themes China Generative Artificial Intelligence ETF) and ARMH (Arm Holdings PLC ADRhedged ETF) are both exchange-traded funds - DRGN is a China Equities fund tracking the BITA China Generative AI Select Index, while ARMH is a Technology Equities fund actively managed by Precidian. DRGN is passively managed, while ARMH is actively managed. At a 0.36 correlation, their price movements are largely independent. DRGN charges 0.39%/yr vs 0.19%/yr for ARMH.

Performance

DRGN vs. ARMH - Performance Comparison

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

Returns By Period

DRGN

• 1D: -0.54%
• 1M: 1.83%
• 6M: -0.75%
• YTD: 14.26%
• 1Y: 44.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ARMH

• 1D: -2.46%
• 1M: -30.13%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DRGN vs. ARMH - Yearly Performance Comparison

	2026 (YTD)
DRGN Themes China Generative Artificial Intelligence ETF	-0.77%
ARMH Arm Holdings PLC ADRhedged ETF	-11.16%

Correlation

The correlation between DRGN and ARMH is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.37

Return for Risk

DRGN vs. ARMH — Risk / Return Rank

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

DRGN

DRGN Risk / Return Rank: 42
DRGN Sharpe Ratio Rank: 42
DRGN Sortino Ratio Rank: 43
DRGN Omega Ratio Rank: 39
DRGN Calmar Ratio Rank: 52
DRGN Martin Ratio Rank: 36

ARMH

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

DRGN vs. ARMH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes China Generative Artificial Intelligence ETF (DRGN) and Arm Holdings PLC ADRhedged ETF (ARMH). 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.

	DRGN	ARMH	Difference
Sharpe ratio: Return per unit of total volatility	1.25	—	—
Sortino ratio: Return per unit of downside risk	1.84	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	2.14	—	—
Martin ratio: Return relative to average drawdown	4.45	—	—

Drawdowns

DRGN vs. ARMH - Drawdown Comparison

The maximum DRGN drawdown since its inception was -20.86%, smaller than the maximum ARMH drawdown of -37.79%. Use the drawdown chart below to compare losses from any high point for DRGN and ARMH.

Drawdown Indicators

	DRGN	ARMH	Difference
Max Drawdown Largest peak-to-trough decline	-20.86%	-37.79%	+16.93%
Max Drawdown (1Y) Largest decline over 1 year	-20.86%	—	—
Current Drawdown Current decline from peak	-8.88%	-37.79%	+28.91%
Average Drawdown Average peak-to-trough decline	-8.16%	-16.50%	+8.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.02%	—	—

Volatility

Volatility by Period

	DRGN	ARMH	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.08%	—	—
Volatility (6M) Calculated over the trailing 6-month period	25.46%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	35.74%	103.85%	-68.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.74%	103.85%	-68.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.74%	103.85%	-68.11%

DRGN vs. ARMH - Expense Ratio Comparison

DRGN has a 0.39% expense ratio, which is higher than ARMH's 0.19% expense ratio.

Dividends

DRGN vs. ARMH - Dividend Comparison

DRGN's dividend yield for the trailing twelve months is around 1.06%, while ARMH has not paid dividends to shareholders.

Position	TTM	2025
ARMH Arm Holdings PLC ADRhedged ETF	0.00%	0.00%
DRGN Themes China Generative Artificial Intelligence ETF	1.06%	1.22%

Frequently Asked Questions

Can I hold both DRGN and ARMH in my portfolio?

DRGN and ARMH have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DRGN or ARMH?

On fees, ARMH is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DRGN or ARMH?

ARMH is cheaper with a 0.19% expense ratio, compared with 0.39% for DRGN.

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

DRGN has the higher dividend yield at 1.06%, compared with 0.00% for ARMH.

What is the main difference between DRGN and ARMH?

DRGN is categorized as China Equities, while ARMH is Technology Equities. They also come from different issuers: Themes and Precidian. Their fees differ too: 0.39% for DRGN and 0.19% for ARMH.