ETF Evaluator: Themes CHN Generative Artfcl Intlgc ETF () Follow This ETF

Themes CHN Generative Artfcl Intlgc ETF Overview

Themes CHN Generative Artfcl Intlgc ETF (DRGN) is a passively managed Sector Equity Technology exchange-traded fund (ETF). Themes Management Company, LLC launched the ETF in 2025.

The investment seeks to track the performance, before fees and expenses, of the BITA China Generative AI Select Index. The index is designed to provide exposure to publicly traded Chinese companies exchange listed in the U.S. or Hong Kong, or accessible via Stock Connect, which derive significant revenue from generative artificial intelligence (“AI”) related activities. The fund will invest, under normal circumstances, at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities that comprise the index and ADRs and GDRs based on the securities in the index. The fund is non-diversified.

About Themes CHN Generative Artfcl Intlgc ETF (DRGN)

There are 3 members of the management team with an average tenure of 1.05 years: Dingxun(Kevin) Shao (2025), Calvin Tsang (2025) and Paul Bartkowiak (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.

The ETF has 1 primary benchmark: BITA China Generative AI Select TR USD index with a weighting of 100%. Themes CHN Generative Artfcl Intlgc ETF has 28 securities in its portfolio. The top 10 holdings constitute 57.6% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.

Themes CHN Generative Artfcl Intlgc ETF is part of the Equity global asset class and is within the Sector Equity ETF group. Themes CHN Generative Artfcl Intlgc ETF has 103.9% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 103.9% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Themes CHN Generative Artfcl Intlgc ETF has -3.9% of the portfolio in cash.

Assets Under Management

The fund has $26 million in total assets, which is below the $3 billion average for the Technology category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

DRGN Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Themes CHN Generative Artfcl Intlgc ETF expense ratio is below average compared to funds in the Technology category. Themes CHN Generative Artfcl Intlgc ETF has an expense ratio of 0.39%, which is 28% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Themes CHN Generative Artfcl Intlgc ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 39% for the Technology category.

Recently, in the month of July 2026, Themes CHN Generative Artfcl Intlgc ETF returned -5.6%, which earned it a grade of B, as the Technology category had an average return of -9.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.

Themes CHN Generative Artfcl Intlgc ETF has a trailing yield of 1.12%, which is above the 0.45% category average. The fund normally distributes its income annually and its capital gains annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Themes CHN Generative Artfcl Intlgc ETF Grades

Year to date, the ETF has returned 7.7%, 13.7 percentage points worse than the category, which translates into a grade of D. The fund has returned 31.2% over the past year (grade of C).

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