DRGN vs. XAIX

Last updated Aug 5, 2026

DRGN (Themes China Generative Artificial Intelligence ETF) and XAIX (Xtrackers Artificial Intelligence and Big Data ETF) are both Artificial Intelligence funds - DRGN tracks the BITA China Generative AI Select Index while XAIX tracks the Nasdaq Global Artificial Intelligence and Big Data Index. Both are passively managed. Over the past year, DRGN returned 37.74% vs 47.53% for XAIX. Their 0.48 correlation means their historical movements had little consistent relationship. DRGN charges 0.39%/yr vs 0.35%/yr for XAIX.

Performance

DRGN vs. XAIX - Performance Comparison

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

Returns By Period

In the year-to-date period, DRGN achieves a 13.71% return, which is significantly lower than XAIX's 31.63% return.

DRGN

• 1D: 4.60%
• 1M: 4.46%
• 6M: 5.58%
• YTD: 13.71%
• 1Y: 37.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 41.66%

XAIX

• 1D: 3.87%
• 1M: 3.87%
• 6M: 30.21%
• YTD: 31.63%
• 1Y: 47.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 39.80%

*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)
DRGN Themes China Generative Artificial Intelligence ETF	$473.92K	$435.90K	$560.91K
XAIX Xtrackers Artificial Intelligence and Big Data ETF	$945.12K	$1.44M	$1.99M

DRGN vs. XAIX - Yearly Performance Comparison

	2026 (YTD)	2025
DRGN Themes China Generative Artificial Intelligence ETF	13.71%	26.96%
XAIX Xtrackers Artificial Intelligence and Big Data ETF	31.63%	12.71%

Correlation

The correlation between DRGN and XAIX is 0.49, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.49
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	0.48

Return for Risk

DRGN vs. XAIX — Risk / Return Rank

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

DRGN

DRGN Risk / Return Rank: 38
DRGN Sharpe Ratio Rank: 37
DRGN Sortino Ratio Rank: 38
DRGN Omega Ratio Rank: 36
DRGN Calmar Ratio Rank: 45
DRGN Martin Ratio Rank: 34

XAIX

XAIX Risk / Return Rank: 67
XAIX Sharpe Ratio Rank: 71
XAIX Sortino Ratio Rank: 64
XAIX Omega Ratio Rank: 65
XAIX Calmar Ratio Rank: 72
XAIX Martin Ratio Rank: 63

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.

DRGN vs. XAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes China Generative Artificial Intelligence ETF (DRGN) and Xtrackers Artificial Intelligence and Big Data ETF (XAIX). 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	XAIX	Difference
Sharpe ratio: Return per unit of total volatility	1.03	1.83	-0.80
Sortino ratio: Return per unit of downside risk	1.61	2.40	-0.79
Omega ratio: Gain probability vs. loss probability	1.19	1.31	-0.12
Calmar ratio: Return relative to maximum drawdown	1.82	2.82	-1.00
Martin ratio: Return relative to average drawdown	3.61	8.44	-4.83

DRGN vs. XAIX - Sharpe Ratio Comparison

The current DRGN Sharpe Ratio is 1.03, which is lower than the XAIX Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of DRGN and XAIX, 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

DRGN vs. XAIX - Drawdown Comparison

The maximum DRGN drawdown since its inception was -20.86%, smaller than the maximum XAIX drawdown of -23.95%. Use the drawdown chart below to compare losses from any high point for DRGN and XAIX.

Drawdown Indicators

	DRGN	XAIX	Difference
Max Drawdown Largest peak-to-trough decline	-20.86%	-23.95%	+3.09%
Max Drawdown (1Y) Largest decline over 1 year	-20.86%	-16.95%	-3.91%
Current Drawdown Current decline from peak	-9.32%	-7.32%	-2.00%
Average Drawdown Average peak-to-trough decline	-8.41%	-4.01%	-4.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.47%	5.65%	+4.82%

Volatility

DRGN vs. XAIX - Volatility Comparison

Themes China Generative Artificial Intelligence ETF (DRGN) has a higher volatility of 12.67% compared to Xtrackers Artificial Intelligence and Big Data ETF (XAIX) at 9.40%. This indicates that DRGN's price experiences larger fluctuations and is considered to be riskier than XAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DRGN	XAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.67%	9.40%	+3.27%
Volatility (6M) Calculated over the trailing 6-month period	26.15%	23.32%	+2.83%
Volatility (1Y) Calculated over the trailing 1-year period	36.79%	26.08%	+10.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.16%	25.22%	+10.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.16%	25.22%	+10.94%

DRGN vs. XAIX - Expense Ratio Comparison

DRGN has a 0.39% expense ratio, which is higher than XAIX's 0.35% expense ratio.

Dividends

DRGN vs. XAIX - Dividend Comparison

DRGN's dividend yield for the trailing twelve months is around 1.07%, more than XAIX's 0.39% yield.

Position	TTM	2025	2024
DRGN Themes China Generative Artificial Intelligence ETF	1.07%	1.22%	0.00%
XAIX Xtrackers Artificial Intelligence and Big Data ETF	0.39%	0.54%	0.08%

Frequently Asked Questions

Can I hold both DRGN and XAIX in my portfolio?

DRGN and XAIX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DRGN or XAIX?

DRGN has higher volatility (12.67%) compared to XAIX (9.40%). In terms of maximum drawdown, DRGN dropped -20.86% vs XAIX's -23.95%.

Which ETF is better, DRGN or XAIX?

On 1-year performance, XAIX leads with 47.53% vs 37.74% for DRGN. On fees, XAIX is cheaper at 0.35% per year. On volatility, XAIX has been the lower-risk option at 9.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DRGN or XAIX?

Over the 1-year period, XAIX has performed better with a 47.53% return vs 37.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DRGN or XAIX?

XAIX is cheaper with a 0.35% expense ratio, compared with 0.39% for DRGN.

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

DRGN has the higher dividend yield at 1.07%, compared with 0.39% for XAIX.

What is the main difference between DRGN and XAIX?

DRGN tracks BITA China Generative AI Select Index, while XAIX tracks Nasdaq Global Artificial Intelligence and Big Data Index. They also come from different issuers: Themes and Xtrackers. Their fees differ too: 0.39% for DRGN and 0.35% for XAIX.

Which has better risk-adjusted returns?

XAIX currently has the higher Sharpe Ratio (1.83 vs 1.03), 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.