DRGN vs. CAS

Last updated Jul 11, 2026

DRGN (Themes China Generative Artificial Intelligence ETF) and CAS (Simplify China A Shares PLUS Income ETF) are both China Equities funds. DRGN is passively managed, while CAS is actively managed. A 0.75 correlation means they provide meaningful diversification when combined. DRGN charges 0.39%/yr vs 0.88%/yr for CAS.

Performance

DRGN vs. CAS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes China Generative Artificial Intelligence ETF (DRGN) and Simplify China A Shares PLUS Income ETF (CAS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DRGN

• 1D: -0.43%
• 1M: 9.39%
• 6M: 7.66%
• YTD: 18.02%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CAS

• 1D: -0.94%
• 1M: 2.69%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DRGN vs. CAS - Yearly Performance Comparison

	2026 (YTD)
DRGN Themes China Generative Artificial Intelligence ETF	2.50%
CAS Simplify China A Shares PLUS Income ETF	-1.43%

Correlation

The correlation between DRGN and CAS is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.75

Return for Risk

DRGN vs. CAS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes China Generative Artificial Intelligence ETF (DRGN) and Simplify China A Shares PLUS Income ETF (CAS). 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.

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

Drawdowns

DRGN vs. CAS - Drawdown Comparison

The maximum DRGN drawdown since its inception was -20.86%, which is greater than CAS's maximum drawdown of -7.26%. Use the drawdown chart below to compare losses from any high point for DRGN and CAS.

Drawdown Indicators

	DRGN	CAS	Difference
Max Drawdown Largest peak-to-trough decline	-20.86%	-7.26%	-13.60%
Current Drawdown Current decline from peak	-5.88%	-4.94%	-0.94%
Average Drawdown Average peak-to-trough decline	-8.15%	-2.90%	-5.25%

Volatility

Volatility by Period

	DRGN	CAS	Difference
Volatility (1Y) Calculated over the trailing 1-year period	35.67%	30.04%	+5.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.67%	30.04%	+5.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.67%	30.04%	+5.63%

DRGN vs. CAS - Expense Ratio Comparison

DRGN has a 0.39% expense ratio, which is lower than CAS's 0.88% expense ratio.

Dividends

DRGN vs. CAS - Dividend Comparison

DRGN's dividend yield for the trailing twelve months is around 1.03%, more than CAS's 0.36% yield.

Position	TTM	2025
CAS Simplify China A Shares PLUS Income ETF	0.36%	0.00%
DRGN Themes China Generative Artificial Intelligence ETF	1.03%	1.22%

Frequently Asked Questions

Can I hold both DRGN and CAS in my portfolio?

DRGN and CAS have a correlation of 0.75, 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 CAS?

On fees, DRGN is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DRGN or CAS?

DRGN is cheaper with a 0.39% expense ratio, compared with 0.88% for CAS.

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

DRGN has the higher dividend yield at 1.03%, compared with 0.36% for CAS.

What is the main difference between DRGN and CAS?

They also come from different issuers: Themes and Simplify. Their fees differ too: 0.39% for DRGN and 0.88% for CAS.