IRBO vs. DRGN
IRBO (iShares Future AI & Tech ETF) and DRGN (Themes China Generative Artificial Intelligence ETF) are both Artificial Intelligence funds - IRBO tracks the Morningstar Global Artificial Intelligence Select Index while DRGN tracks the BITA China Generative AI Select Index. Both are passively managed. Over the past year, IRBO returned 63.16% vs 34.60% for DRGN. Their 0.48 correlation means their historical movements had little consistent relationship. IRBO charges 0.47%/yr vs 0.39%/yr for DRGN.
Performance
IRBO vs. DRGN - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, IRBO achieves a 43.11% return, which is significantly higher than DRGN's 8.71% return.
IRBO
- 1D
- 3.39%
- 1M
- -3.07%
- 6M
- 32.62%
- YTD
- 43.11%
- 1Y
- 63.16%
- 3Y*
- 28.37%
- 5Y*
- 10.52%
- 10Y*
- —
- ALL TIME*
- 15.10%
DRGN
- 1D
- -0.02%
- 1M
- -0.13%
- 6M
- -0.73%
- YTD
- 8.71%
- 1Y
- 34.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 35.86%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $403.33K | $404.08K | $565.01K | |
| $35.64M | $36.90M | $59.33M |
IRBO vs. DRGN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IRBO iShares Future AI & Tech ETF | 43.11% | 16.72% |
DRGN Themes China Generative Artificial Intelligence ETF | 8.71% | 26.96% |
Correlation
The correlation between IRBO and DRGN 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 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
IRBO vs. DRGN — Risk / Return Rank
IRBO
DRGN
IRBO vs. DRGN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Future AI & Tech ETF (IRBO) 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.
| IRBO | DRGN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.18 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.64 | 1.67 | +0.98 |
| Martin ratioReturn relative to average drawdown | 8.49 | 3.32 | +5.17 |
Loading charts...
Drawdowns
IRBO vs. DRGN - Drawdown Comparison
The maximum IRBO drawdown since its inception was -54.50%, which is greater than DRGN's maximum drawdown of -20.86%. Use the drawdown chart below to compare losses from any high point for IRBO and DRGN.
Loading charts...
Drawdown Indicators
| IRBO | DRGN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.50% | -20.86% | -33.64% |
Max Drawdown (1Y)Largest decline over 1 year | -24.00% | -20.86% | -3.14% |
Max Drawdown (3Y)Largest decline over 3 years | -32.44% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -50.53% | — | — |
Current DrawdownCurrent decline from peak | -14.61% | -13.31% | -1.30% |
Average DrawdownAverage peak-to-trough decline | -19.68% | -8.41% | -11.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.46% | 10.46% | -3.00% |
Volatility
IRBO vs. DRGN - Volatility Comparison
iShares Future AI & Tech ETF (IRBO) has a higher volatility of 14.41% compared to Themes China Generative Artificial Intelligence ETF (DRGN) at 11.95%. This indicates that IRBO's price experiences larger fluctuations and is considered to be riskier than DRGN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| IRBO | DRGN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.41% | 11.95% | +2.46% |
Volatility (6M)Calculated over the trailing 6-month period | 33.09% | 25.81% | +7.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.42% | 36.59% | +0.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.34% | 35.96% | -5.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.65% | 35.96% | -7.31% |
IRBO vs. DRGN - Expense Ratio Comparison
IRBO has a 0.47% expense ratio, which is higher than DRGN's 0.39% expense ratio.
Dividends
IRBO vs. DRGN - Dividend Comparison
IRBO's dividend yield for the trailing twelve months is around 0.06%, less than DRGN's 1.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DRGN Themes China Generative Artificial Intelligence ETF | 1.12% | 1.22% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IRBO iShares Future AI & Tech ETF | 0.06% | 0.00% | 0.50% | 0.88% | 0.75% | 2.41% | 0.53% | 0.69% | 0.34% |
Frequently Asked Questions
IRBO and DRGN 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.
IRBO has higher volatility (14.41%) compared to DRGN (11.95%). In terms of maximum drawdown, IRBO dropped -54.50% vs DRGN's -20.86%.
On 1-year performance, IRBO leads with 63.16% vs 34.60% for DRGN. On fees, DRGN is cheaper at 0.39% per year. On volatility, DRGN has been the lower-risk option at 11.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IRBO has performed better with a 63.16% return vs 34.60%. 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 0.47% for IRBO.
DRGN has the higher dividend yield at 1.12%, compared with 0.06% for IRBO.
IRBO tracks Morningstar Global Artificial Intelligence Select Index, while DRGN tracks BITA China Generative AI Select Index. They also come from different issuers: iShares and Themes. Their fees differ too: 0.47% for IRBO and 0.39% for DRGN.
IRBO currently has the higher Sharpe Ratio (1.70 vs 0.95), 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.
Find the right allocation for IRBO and DRGN
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer