DRGN
Themes China Generative Artificial Intelligence ETF
The Themes CHN Generative Artificial Intelligence ETF seeks to provide investment exposure to companies that are poised to benefit from advancements in generative artificial intelligence technology and its applications.
Emerging Market
EQUITY
Passive
MANAGEMENT STYLE
$ 29.0 M
ASSETS UNDER MGMT
39 bp
EXPENSES
Fund Basics
| Fund sponsor | Themes |
| Category | Emerging |
| Asset class | Equity |
| Website | link... |
| Inception date | Jul 14, 2025 |
| Assets (mns) | $29 |
| Expense ratio | 39 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | |
| Taxation | 1099 |
| Stock selection | |
| Weighting | |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| MONTAGE TECHNOLOGY CO., LTD. CLASS A | 7.5 % |
| BAIDU INC - SPON ADR | 7.4 % |
| HYGON INFORMATION TECHNOLOGY CO., LTD. C | 7.4 % |
| KUAISHOU TECHNOLOGY CLASS B | 6.5 % |
| YUANJIE SEMICONDUCTOR TECHNOLOGY CO LTD | 5.9 % |
| FOXCONN INDUSTRIAL INTERNET CO., LTD. CL | 5.8 % |
| ANHUI USTC IFLYTEK CI -A | 5.5 % |
| XIAOMI CORP. CLASS B | 5.2 % |
| CAMBRICON TECHNOLOGIES CORP. LTD. CLASS | 5.0 % |
| KINGSOFT CLOUD HOLDINGS LTD | 4.9 % |
Constituent Breakdown
| Number of holdings | 18 |
| Herfindahl-Hirschman Index | 535 |
| Wgt avg mkt cap (mns) | $31,493 |
| Large cap (>$10bn) | 51.3% |
| Mid cap ($2-10bn) | 13.6% |
| Small cap (<$2bn) | 2.8% |
| Developed mkts. | 79.8% |
| Emerging mkts. | 0.0% |
Country Exposure
 |
CHINA | 79.1 % |
Historical Performance
Standardized Performance (as of 01/31/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 11.2% | -- | -- | -- | -- | -- | -- | 38.9% |
| Dividend Yield | 0.0% | -- | -- | -- | -- | -- | -- | 1.7% |
| Total Returns | 11.2% | -- | -- | -- | -- | -- | -- | 40.6% | Ann. Volatility | 39.2% | -- | -- | -- | -- | -- | -- | 35.6% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 35 |
| ADV traded (mns) | $1 |
| Turnover | 4.2% |
| Avg. Bid/Ask (% of price) | 0.48% |
Technical Indicators
| 30d moving avg. (EMA) | $35.16 |
| Relative strength (RSI) | 48 |
| MACD/Signal | 0.00/0.51 |
| Bollinger Bands (Upper/Lower) | $38.79/$33.75 |
| Short interest (% of AUM) | 1.5% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Top Ten Comparable ETFs only shown here. For an extended list become an Individual or Professional subscriber. Start your FREE trial
Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. DRGN |
Expenses vs. DRGN |
ALTAR Score™ vs. DRGN |
|---|---|---|---|---|
| KSTR | KraneShares SSE STAR Market 50 Index ETF | 18.7% | +50 bp | -9.0% |
| TCHI | iShares MSCI China Multisector Tech ETF | 14.4% | +20 bp | +4.7% |
| SOCL | Global X Social Media ETF | 13.0% | +26 bp | +0.6% |
| KBA | KraneShares Bosera MSCI China A 50 Connect Index ETF | 11.5% | +16 bp | -3.0% |
| KTEC | KraneShares Hang Seng TECH Index ETF | 11.5% | +30 bp | +9.8% |
| CQQQ | Invesco China Technology ETF | 10.6% | +31 bp | +5.0% |
Risk and Returns: DRGN vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 2/10/2026
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
DRGN
10.1%
Cat. Avg
7.5%
ALTAR Score™ Calculation
Category Overview
There are 192 funds in the Emerging Equity category, with an average ALTAR Score™
of 7.5% and a standard deviation of
2.1%. DRGN's ALTAR Score™ is approximately
1.2 standard deviations
above
the category average. This places DRGN in the 89th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
DRGNSELL
U/W
HOLD
O/W
BUY