KURE vs. DRGN

Last updated Jun 26, 2026

KURE (KraneShares MSCI All China Health Care Index ETF) and DRGN (Themes China Generative Artificial Intelligence ETF) are both exchange-traded funds - KURE is a China Equities fund tracking the MSCI China All Shares Health Care 10/40 Index, while DRGN is a Technology Equities fund tracking the BITA China Generative AI Select Index. Both are passively managed. At a 0.39 correlation, their price movements are largely independent. KURE charges 0.65%/yr vs 0.39%/yr for DRGN.

Performance

KURE vs. DRGN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares MSCI All China Health Care Index ETF (KURE) 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, KURE achieves a -11.03% return, which is significantly lower than DRGN's 12.49% return.

KURE

• 1D: 0.40%
• 1M: -5.31%
• YTD: -11.03%
• 6M: -13.96%
• 1Y: -8.07%
• 3Y*: -3.44%
• 5Y*: -16.64%
• 10Y*: —

DRGN

• 1D: 0.62%
• 1M: -3.41%
• YTD: 12.49%
• 6M: 13.97%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KURE vs. DRGN - Yearly Performance Comparison

	2026 (YTD)	2025
KURE KraneShares MSCI All China Health Care Index ETF	-11.03%	0.12%
DRGN Themes China Generative Artificial Intelligence ETF	12.49%	26.96%

Correlation

The correlation between KURE and DRGN is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	0.39

Return for Risk

KURE vs. DRGN — Risk / Return Rank

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

KURE

KURE Risk / Return Rank: 7
KURE Sharpe Ratio Rank: 7
KURE Sortino Ratio Rank: 7
KURE Omega Ratio Rank: 6
KURE Calmar Ratio Rank: 7
KURE Martin Ratio Rank: 7

DRGN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

KURE vs. DRGN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares MSCI All China Health Care Index ETF (KURE) 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.

	KURE	DRGN	Difference
Sharpe ratio: Return per unit of total volatility	-0.31	—	—
Sortino ratio: Return per unit of downside risk	-0.26	—	—
Omega ratio: Gain probability vs. loss probability	0.97	—	—
Calmar ratio: Return relative to maximum drawdown	-0.26	—	—
Martin ratio: Return relative to average drawdown	-0.54	—	—

Drawdowns

KURE vs. DRGN - Drawdown Comparison

The maximum KURE drawdown since its inception was -68.53%, which is greater than DRGN's maximum drawdown of -20.86%. Use the drawdown chart below to compare losses from any high point for KURE and DRGN.

Drawdown Indicators

	KURE	DRGN	Difference
Max Drawdown Largest peak-to-trough decline	-68.53%	-20.86%	-47.67%
Max Drawdown (1Y) Largest decline over 1 year	-30.88%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-34.05%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-67.94%	—	—
Current Drawdown Current decline from peak	-61.26%	-10.29%	-50.97%
Average Drawdown Average peak-to-trough decline	-38.22%	-8.08%	-30.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.85%	—	—

Volatility

Volatility by Period

	KURE	DRGN	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.54%	—	—
Volatility (6M) Calculated over the trailing 6-month period	18.04%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	26.09%	35.08%	-8.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.85%	35.08%	-3.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.32%	35.08%	-2.76%

KURE vs. DRGN - Expense Ratio Comparison

KURE has a 0.65% expense ratio, which is higher than DRGN's 0.39% expense ratio.

Dividends

KURE vs. DRGN - Dividend Comparison

KURE's dividend yield for the trailing twelve months is around 4.71%, more than DRGN's 1.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DRGN Themes China Generative Artificial Intelligence ETF	1.08%	1.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
KURE KraneShares MSCI All China Health Care Index ETF	4.71%	4.19%	1.29%	0.65%	0.05%	14.12%	0.00%	0.25%	0.21%

Frequently Asked Questions

Can I hold both KURE and DRGN in my portfolio?

KURE and DRGN have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KURE 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, KURE or DRGN?

DRGN is cheaper with a 0.39% expense ratio, compared with 0.65% for KURE.

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

KURE has the higher dividend yield at 4.71%, compared with 1.08% for DRGN.

What is the main difference between KURE and DRGN?

KURE is categorized as China Equities, while DRGN is Technology Equities. KURE tracks MSCI China All Shares Health Care 10/40 Index, while DRGN tracks BITA China Generative AI Select Index. They also come from different issuers: CICC and Themes. Their fees differ too: 0.65% for KURE and 0.39% for DRGN.