KTEC vs. DRGN

Last updated Jun 4, 2026

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 Technology Equities fund tracking the BITA China Generative AI Select Index. Both are passively managed. A 0.67 correlation means they provide meaningful diversification when combined. KTEC charges 0.69%/yr vs 0.39%/yr for DRGN.

Performance

KTEC vs. DRGN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares Hang Seng TECH Index ETF (KTEC) and Themes China Generative Artificial Intelligence ETF (DRGN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KTEC achieves a -11.17% return, which is significantly lower than DRGN's 16.07% return.

KTEC

• 1D: -3.20%
• 1M: -0.29%
• YTD: -11.17%
• 6M: -12.80%
• 1Y: -8.17%
• 3Y*: 7.14%
• 5Y*: —
• 10Y*: —

DRGN

• 1D: 3.59%
• 1M: 4.57%
• YTD: 16.07%
• 6M: 17.38%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

KTEC vs. DRGN - Yearly Performance Comparison

	2026 (YTD)	2025
KTEC KraneShares Hang Seng TECH Index ETF	-11.17%	-2.30%
DRGN Themes China Generative Artificial Intelligence ETF	16.07%	26.41%

Correlation

The correlation between KTEC and DRGN is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 16, 2025	0.67

Return for Risk

KTEC vs. DRGN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

KTEC

KTEC Risk / Return Rank: 6
KTEC Sharpe Ratio Rank: 6
KTEC Sortino Ratio Rank: 6
KTEC Omega Ratio Rank: 6
KTEC Calmar Ratio Rank: 6
KTEC Martin Ratio Rank: 6

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.

	KTEC	DRGN	Difference
Sharpe ratio Return per unit of total volatility	-0.29	—	—
Sortino ratio Return per unit of downside risk	-0.24	—	—
Omega ratio Gain probability vs. loss probability	0.97	—	—
Calmar ratio Return relative to maximum drawdown	-0.28	—	—
Martin ratio Return relative to average drawdown	-0.50	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	KTEC	DRGN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.29	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.24	1.56	-1.80

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.

Drawdown Indicators

	KTEC	DRGN	Difference
Max Drawdown Largest peak-to-trough decline	-66.90%	-20.86%	-46.04%
Max Drawdown (1Y) Largest decline over 1 year	-29.36%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-34.71%	—	—
Current Drawdown Current decline from peak	-43.95%	-7.44%	-36.51%
Average Drawdown Average peak-to-trough decline	-43.97%	-7.94%	-36.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.26%	—	—

Volatility

Volatility by Period

	KTEC	DRGN	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.62%	—	—
Volatility (6M) Calculated over the trailing 6-month period	20.56%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	28.01%	34.93%	-6.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.22%	34.93%	+8.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.22%	34.93%	+8.29%

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 3.78%, more than DRGN's 1.05% yield.

Position	TTM	2025	2024	2023	2022
DRGN Themes China Generative Artificial Intelligence ETF	1.05%	1.22%	0.00%	0.00%	0.00%
KTEC KraneShares Hang Seng TECH Index ETF	3.78%	3.36%	0.27%	0.81%	0.16%

Frequently Asked Questions

Can I hold both KTEC and DRGN in my portfolio?

KTEC and DRGN have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KTEC or DRGN?

On fees, DRGN is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KTEC or DRGN?

DRGN is cheaper with a 0.39% expense ratio, compared with 0.69% for KTEC.

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

KTEC has the higher dividend yield at 3.78%, compared with 1.05% for DRGN.

What is the main difference between KTEC and DRGN?

KTEC is categorized as China Equities, while DRGN is Technology Equities. 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.