DRGN vs. KSTR
DRGN (Themes China Generative Artificial Intelligence ETF) and KSTR (KraneShares SSE STAR Market 50 Index ETF) are both exchange-traded funds - DRGN is a Artificial Intelligence fund tracking the BITA China Generative AI Select Index, while KSTR is a China Equities fund tracking the SSE Science and Technology Innovation Board 50 Index. Both are passively managed. Over the past year, DRGN returned 34.63% vs 66.48% for KSTR. Their correlation of 0.80 means they have usually moved in the same direction. DRGN charges 0.39%/yr vs 0.89%/yr for KSTR.
Performance
DRGN vs. KSTR - Performance Comparison
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Returns By Period
In the year-to-date period, DRGN achieves a 8.73% return, which is significantly lower than KSTR's 26.49% return.
DRGN
- 1D
- 3.34%
- 1M
- -0.11%
- 6M
- -2.24%
- YTD
- 8.73%
- 1Y
- 34.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 36.21%
KSTR
- 1D
- -1.30%
- 1M
- -16.50%
- 6M
- 12.10%
- YTD
- 26.49%
- 1Y
- 66.48%
- 3Y*
- 18.43%
- 5Y*
- -2.88%
- 10Y*
- —
- ALL TIME*
- -0.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $390.32K | $398.54K | $552.05K | |
| $27.29M | $25.28M | $18.73M |
DRGN vs. KSTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DRGN Themes China Generative Artificial Intelligence ETF | 8.73% | 26.96% |
KSTR KraneShares SSE STAR Market 50 Index ETF | 26.49% | 36.49% |
Correlation
The correlation between DRGN and KSTR is 0.81, 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. | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025 | 0.80 |
The correlation between DRGN and KSTR has been stable across timeframes, ranging from 0.80 to 0.81 - a consistent structural relationship.
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Return for Risk
DRGN vs. KSTR — Risk / Return Rank
DRGN
KSTR
DRGN vs. KSTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Themes China Generative Artificial Intelligence ETF (DRGN) and KraneShares SSE STAR Market 50 Index ETF (KSTR). 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 | KSTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.27 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.55 | 2.38 | -0.83 |
| Martin ratioReturn relative to average drawdown | 3.10 | 7.25 | -4.15 |
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Drawdowns
DRGN vs. KSTR - Drawdown Comparison
The maximum DRGN drawdown since its inception was -20.86%, smaller than the maximum KSTR drawdown of -66.46%. Use the drawdown chart below to compare losses from any high point for DRGN and KSTR.
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Drawdown Indicators
| DRGN | KSTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.86% | -66.46% | +45.60% |
Max Drawdown (1Y)Largest decline over 1 year | -20.86% | -27.23% | +6.37% |
Max Drawdown (3Y)Largest decline over 3 years | — | -41.55% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -65.99% | — |
Current DrawdownCurrent decline from peak | -13.29% | -27.23% | +13.94% |
Average DrawdownAverage peak-to-trough decline | -8.39% | -37.98% | +29.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.42% | 8.93% | +1.49% |
Volatility
DRGN vs. KSTR - Volatility Comparison
The current volatility for Themes China Generative Artificial Intelligence ETF (DRGN) is 12.89%, while KraneShares SSE STAR Market 50 Index ETF (KSTR) has a volatility of 21.43%. This indicates that DRGN experiences smaller price fluctuations and is considered to be less risky than KSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRGN | KSTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.89% | 21.43% | -8.54% |
Volatility (6M)Calculated over the trailing 6-month period | 25.82% | 36.10% | -10.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.63% | 43.94% | -7.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.03% | 39.83% | -3.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.03% | 38.86% | -2.83% |
DRGN vs. KSTR - Expense Ratio Comparison
DRGN has a 0.39% expense ratio, which is lower than KSTR's 0.89% expense ratio.
Dividends
DRGN vs. KSTR - Dividend Comparison
DRGN's dividend yield for the trailing twelve months is around 1.12%, while KSTR has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
DRGN Themes China Generative Artificial Intelligence ETF | 1.12% | 1.22% |
KSTR KraneShares SSE STAR Market 50 Index ETF | 0.00% | 0.00% |
Frequently Asked Questions
DRGN and KSTR have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KSTR has higher volatility (21.43%) compared to DRGN (12.89%). In terms of maximum drawdown, DRGN dropped -20.86% vs KSTR's -66.46%.
On 1-year performance, KSTR leads with 66.48% vs 34.63% for DRGN. On fees, DRGN is cheaper at 0.39% per year. On volatility, DRGN has been the lower-risk option at 12.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, KSTR has performed better with a 66.48% return vs 34.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DRGN is cheaper with a 0.39% expense ratio, compared with 0.89% for KSTR.
DRGN has the higher dividend yield at 1.12%, compared with 0.00% for KSTR.
DRGN is categorized as Artificial Intelligence, while KSTR is China Equities. DRGN tracks BITA China Generative AI Select Index, while KSTR tracks SSE Science and Technology Innovation Board 50 Index. They also come from different issuers: Themes and KraneShares. Their fees differ too: 0.39% for DRGN and 0.89% for KSTR.
KSTR currently has the higher Sharpe Ratio (1.48 vs 0.88), 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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