DRGN vs QQQ
Themes China Generative Artificial Intelligence ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | DRGN | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.39% | 0.18% | |
| AUM | $27M | $496.3B | |
| Dividend Yield | 1.12% | 0.44% | |
| Holdings | 27 | 108 | |
| YTD Return | +3.65% | +17.07% | |
| 1Y Return | +18.98% | +26.39% | |
| 3Y Return (annualized) | - | +26.08% | |
| 5Y Return (annualized) | - | +15.18% | |
| Volatility (annualized) | 37.1% | 30.6% | |
| Max Drawdown | -20.9% | -83.0% | |
| Fund Family | Themes ETFs | Invesco (US) | |
| Category | Equity | Equity | |
| Inception | Jul 15, 2025 | Mar 10, 1999 |
DRGN vs QQQ Performance
Themes China Generative Artificial Intelligence ETF (DRGN) is a ETF from Themes ETFs and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year DRGN returned +18.98% while QQQ returned +26.39%. Year to date, DRGN is up 3.65% versus a gain of 17.07% for QQQ.
Risk: Volatility and Drawdowns
DRGN has been the more volatile fund, with annualized monthly volatility of 37.1% compared with 30.6% for QQQ. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -20.9% for DRGN and -83.0% for QQQ. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.53. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DRGN charges 0.39% per year while QQQ charges 0.18%. On a $10,000 position that is $39 vs $18 annually, a gap of $21 per year that compounds over a long holding period. On income, DRGN currently yields 1.12% against 0.44% for QQQ.
Holdings Overlap
DRGN and QQQ share 0 holdings out of 126 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DRGN or QQQ?
DRGN has an expense ratio of 0.39% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $21 per year of difference.
Which performed better, DRGN or QQQ?
Over the past year DRGN returned +18.98% vs +26.39% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (1 years), DRGN annualized +31.81% vs +13.05% for QQQ. Past performance does not guarantee future results.
Which is riskier, DRGN or QQQ?
DRGN has been the more volatile fund at 37.1% annualized versus 30.6% for QQQ. Worst drawdown: DRGN -20.9% vs QQQ -83.0%.
Should I hold both DRGN and QQQ?
DRGN and QQQ have a monthly-return correlation of 0.53, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DRGN and QQQ?
DRGN and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 126 unique securities.
Which pays a higher dividend, DRGN or QQQ?
DRGN yields 1.12% while QQQ yields 0.44%, so DRGN currently pays the higher dividend yield.
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