KSTR vs. DRGN
KSTR (KraneShares SSE STAR Market 50 Index ETF) and DRGN (Themes China Generative Artificial Intelligence ETF) are both exchange-traded funds - KSTR is a China Equities fund tracking the SSE Science and Technology Innovation Board 50 Index, while DRGN is a Artificial Intelligence fund tracking the BITA China Generative AI Select Index. Both are passively managed. Over the past year, KSTR returned 66.48% vs 34.63% for DRGN. Their correlation of 0.80 means they have usually moved in the same direction. KSTR charges 0.89%/yr vs 0.39%/yr for DRGN.
Performance
KSTR vs. DRGN - Performance Comparison
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Returns By Period
In the year-to-date period, KSTR achieves a 26.49% return, which is significantly higher than DRGN's 8.73% return.
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%
DRGN
- 1D
- 3.34%
- 1M
- -0.11%
- 6M
- -2.24%
- YTD
- 8.73%
- 1Y
- 34.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 36.21%
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 |
KSTR vs. DRGN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
KSTR KraneShares SSE STAR Market 50 Index ETF | 26.49% | 36.49% |
DRGN Themes China Generative Artificial Intelligence ETF | 8.73% | 26.96% |
Correlation
The correlation between KSTR and DRGN 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 KSTR and DRGN has been stable across timeframes, ranging from 0.80 to 0.81 - a consistent structural relationship.
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Return for Risk
KSTR vs. DRGN — Risk / Return Rank
KSTR
DRGN
KSTR vs. DRGN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares SSE STAR Market 50 Index ETF (KSTR) 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.
| KSTR | DRGN | 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 | 1.27 | 1.17 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | 1.55 | +0.83 |
| Martin ratioReturn relative to average drawdown | 7.25 | 3.10 | +4.15 |
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Drawdowns
KSTR vs. DRGN - Drawdown Comparison
The maximum KSTR drawdown since its inception was -66.46%, which is greater than DRGN's maximum drawdown of -20.86%. Use the drawdown chart below to compare losses from any high point for KSTR and DRGN.
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Drawdown Indicators
| KSTR | DRGN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.46% | -20.86% | -45.60% |
Max Drawdown (1Y)Largest decline over 1 year | -27.23% | -20.86% | -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 | -27.23% | -13.29% | -13.94% |
Average DrawdownAverage peak-to-trough decline | -37.98% | -8.39% | -29.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.93% | 10.42% | -1.49% |
Volatility
KSTR vs. DRGN - Volatility Comparison
KraneShares SSE STAR Market 50 Index ETF (KSTR) has a higher volatility of 21.43% compared to Themes China Generative Artificial Intelligence ETF (DRGN) at 12.89%. This indicates that KSTR'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.
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Volatility by Period
| KSTR | DRGN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.43% | 12.89% | +8.54% |
Volatility (6M)Calculated over the trailing 6-month period | 36.10% | 25.82% | +10.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.94% | 36.63% | +7.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.83% | 36.03% | +3.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.86% | 36.03% | +2.83% |
KSTR vs. DRGN - Expense Ratio Comparison
KSTR has a 0.89% expense ratio, which is higher than DRGN's 0.39% expense ratio.
Dividends
KSTR vs. DRGN - Dividend Comparison
KSTR has not paid dividends to shareholders, while DRGN's dividend yield for the trailing twelve months is around 1.12%.
| 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
KSTR and DRGN 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, KSTR dropped -66.46% vs DRGN's -20.86%.
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.
KSTR is categorized as China Equities, while DRGN is Artificial Intelligence. KSTR tracks SSE Science and Technology Innovation Board 50 Index, while DRGN tracks BITA China Generative AI Select Index. They also come from different issuers: KraneShares and Themes. Their fees differ too: 0.89% for KSTR and 0.39% for DRGN.
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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