KTEC vs. DRGN
KTEC (KraneShares Hang Seng TECH Index ETF) and DRGN (Themes China Generative Artificial Intelligence ETF) are both exchange-traded funds - KTEC is a China Equities fund tracking the Hang Seng Tech Index, while DRGN is a Artificial Intelligence fund tracking the BITA China Generative AI Select Index. Both are passively managed. Over the past year, KTEC returned -11.77% vs 34.63% for DRGN. Their 0.64 correlation means they have sometimes moved together and sometimes differently. KTEC charges 0.69%/yr vs 0.39%/yr for DRGN.
Performance
KTEC vs. DRGN - Performance Comparison
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Returns By Period
In the year-to-date period, KTEC achieves a -12.58% return, which is significantly lower than DRGN's 8.73% return.
KTEC
- 1D
- 0.81%
- 1M
- 10.40%
- 6M
- -14.54%
- YTD
- -12.58%
- 1Y
- -11.77%
- 3Y*
- 0.64%
- 5Y*
- -7.23%
- 10Y*
- —
- ALL TIME*
- -10.38%
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 | |
| $941.66K | $1.10M | $1.04M |
KTEC vs. DRGN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
KTEC KraneShares Hang Seng TECH Index ETF | -12.58% | 0.55% |
DRGN Themes China Generative Artificial Intelligence ETF | 8.73% | 26.96% |
Correlation
The correlation between KTEC and DRGN is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.66 |
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025 | 0.64 |
The correlation between KTEC and DRGN has been stable across timeframes, ranging from 0.64 to 0.66 - a consistent structural relationship.
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Return for Risk
KTEC vs. DRGN — Risk / Return Rank
KTEC
DRGN
KTEC vs. DRGN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares Hang Seng TECH Index ETF (KTEC) 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.
| KTEC | DRGN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.37 | ||
| Sortino ratioReturn per unit of downside risk | -1.97 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.17 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.38 | 1.55 | -1.93 |
| Martin ratioReturn relative to average drawdown | -0.67 | 3.10 | -3.77 |
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Drawdowns
KTEC vs. DRGN - Drawdown Comparison
The maximum KTEC drawdown since its inception was -66.90%, which is greater than DRGN's maximum drawdown of -20.86%. Use the drawdown chart below to compare losses from any high point for KTEC and DRGN.
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Drawdown Indicators
| KTEC | DRGN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.90% | -20.86% | -46.04% |
Max Drawdown (1Y)Largest decline over 1 year | -36.49% | -20.86% | -15.63% |
Max Drawdown (3Y)Largest decline over 3 years | -36.49% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -60.08% | — | — |
Current DrawdownCurrent decline from peak | -44.83% | -13.29% | -31.54% |
Average DrawdownAverage peak-to-trough decline | -44.05% | -8.39% | -35.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.47% | 10.42% | +10.05% |
Volatility
KTEC vs. DRGN - Volatility Comparison
The current volatility for KraneShares Hang Seng TECH Index ETF (KTEC) is 7.27%, while Themes China Generative Artificial Intelligence ETF (DRGN) has a volatility of 12.89%. This indicates that KTEC experiences smaller price fluctuations and is considered to be less risky 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
| KTEC | DRGN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.27% | 12.89% | -5.62% |
Volatility (6M)Calculated over the trailing 6-month period | 20.32% | 25.82% | -5.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.20% | 36.63% | -8.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 42.63% | 36.03% | +6.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.75% | 36.03% | +6.72% |
KTEC vs. DRGN - Expense Ratio Comparison
KTEC has a 0.69% expense ratio, which is higher than DRGN's 0.39% expense ratio.
Dividends
KTEC vs. DRGN - Dividend Comparison
KTEC's dividend yield for the trailing twelve months is around 3.84%, more than DRGN's 1.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
DRGN Themes China Generative Artificial Intelligence ETF | 1.12% | 1.22% | 0.00% | 0.00% | 0.00% |
KTEC KraneShares Hang Seng TECH Index ETF | 3.84% | 3.36% | 0.27% | 0.81% | 0.16% |
Frequently Asked Questions
KTEC and DRGN have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DRGN has higher volatility (12.89%) compared to KTEC (7.27%). In terms of maximum drawdown, KTEC dropped -66.90% vs DRGN's -20.86%.
On 1-year performance, DRGN leads with 34.63% vs -11.77% for KTEC. On fees, DRGN is cheaper at 0.39% per year. On volatility, KTEC has been the lower-risk option at 7.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DRGN has performed better with a 34.63% return vs -11.77%. 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 0.69% for KTEC.
KTEC has the higher dividend yield at 3.84%, compared with 1.12% for DRGN.
KTEC is categorized as China Equities, while DRGN is Artificial Intelligence. KTEC tracks Hang Seng Tech Index, while DRGN tracks BITA China Generative AI Select Index. They also come from different issuers: KraneShares and Themes. Their fees differ too: 0.69% for KTEC and 0.39% for DRGN.
DRGN currently has the higher Sharpe Ratio (0.88 vs -0.49), 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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