PGJ vs. DRGN
PGJ (Invesco Golden Dragon China ETF) and DRGN (Themes China Generative Artificial Intelligence ETF) are both exchange-traded funds - PGJ is a China Equities fund tracking the Halter USX China Index, while DRGN is a Technology Equities fund tracking the BITA China Generative AI Select Index. Both are passively managed. A 0.60 correlation means they provide meaningful diversification when combined. PGJ charges 0.70%/yr vs 0.39%/yr for DRGN.
Performance
PGJ vs. DRGN - Performance Comparison
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Returns By Period
In the year-to-date period, PGJ achieves a -11.48% return, which is significantly lower than DRGN's 15.39% return.
PGJ
- 1D
- -0.55%
- 1M
- -4.23%
- YTD
- -11.48%
- 6M
- -13.73%
- 1Y
- -7.05%
- 3Y*
- 2.92%
- 5Y*
- -13.73%
- 10Y*
- 0.21%
DRGN
- 1D
- -1.00%
- 1M
- 4.18%
- YTD
- 15.39%
- 6M
- 15.70%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PGJ vs. DRGN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PGJ Invesco Golden Dragon China ETF | -11.48% | -1.59% |
DRGN Themes China Generative Artificial Intelligence ETF | 15.39% | 26.41% |
Correlation
The correlation between PGJ and DRGN is 0.60, 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 | 0.60 |
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Return for Risk
PGJ vs. DRGN — Risk / Return Rank
PGJ
DRGN
PGJ vs. DRGN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Golden Dragon China ETF (PGJ) 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.
| PGJ | DRGN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 0.97 | — | — |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | — | — |
| Martin ratioReturn relative to average drawdown | -0.52 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PGJ | DRGN | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.29 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.32 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.01 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 1.52 | -1.41 |
Drawdowns
PGJ vs. DRGN - Drawdown Comparison
The maximum PGJ drawdown since its inception was -78.37%, which is greater than DRGN's maximum drawdown of -20.86%. Use the drawdown chart below to compare losses from any high point for PGJ and DRGN.
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Drawdown Indicators
| PGJ | DRGN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.37% | -20.86% | -57.51% |
Max Drawdown (1Y)Largest decline over 1 year | -25.69% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -30.82% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -70.00% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -78.37% | — | — |
Current DrawdownCurrent decline from peak | -66.25% | -7.97% | -58.28% |
Average DrawdownAverage peak-to-trough decline | -31.74% | -7.93% | -23.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.49% | — | — |
Volatility
PGJ vs. DRGN - Volatility Comparison
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Volatility by Period
| PGJ | DRGN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.54% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 17.28% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 24.46% | 34.79% | -10.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.73% | 34.79% | +8.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.69% | 34.79% | +1.90% |
PGJ vs. DRGN - Expense Ratio Comparison
PGJ has a 0.70% expense ratio, which is higher than DRGN's 0.39% expense ratio.
Dividends
PGJ vs. DRGN - Dividend Comparison
PGJ's dividend yield for the trailing twelve months is around 3.58%, more than DRGN's 1.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DRGN Themes China Generative Artificial Intelligence ETF | 1.05% | 1.22% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
PGJ Invesco Golden Dragon China ETF | 3.58% | 3.38% | 4.70% | 2.50% | 0.84% | 0.00% | 0.30% | 0.17% | 0.31% | 2.05% | 1.94% | 0.37% |
Frequently Asked Questions
PGJ and DRGN have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
DRGN is cheaper with a 0.39% expense ratio, compared with 0.70% for PGJ.
PGJ has the higher dividend yield at 3.58%, compared with 1.05% for DRGN.
PGJ is categorized as China Equities, while DRGN is Technology Equities. PGJ tracks Halter USX China Index, while DRGN tracks BITA China Generative AI Select Index. They also come from different issuers: Invesco and Themes. Their fees differ too: 0.70% for PGJ and 0.39% for DRGN.
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