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Data as of Nov 4, 2026.

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Thematic ETFs

AIHY vs DRGN: Holdings Overlap & Returns

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AIHY and DRGN are compared on the fields both publish.

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Net assets: $16m on Nov 3, 2026 for Defiance AI Hyperscale Leaders ETF, and $19m on Nov 4, 2026 for Themes China Generative Artificial Intelligence ETF.

AIHY on its own →DRGN on its own →
At a glance
AIHY · 3 months to Nov 4, 2026 Holdings are gross exposure, not a portfolio
Holdings are gross exposure, not a portfolioAIHY's holdings are gross exposure rather than a portfolio, so no S&P 500 share is published. Holdings as of Nov 4, 2026.holdings not yet filedHoldings are gross exposure, not a portfolioAIHY's holdings are gross exposure rather than a portfolio, so no S&P 500 share is published. Holdings as of Nov 4, 2026.holdings not yet filed

AIHY's holdings are gross exposure rather than a portfolio, so no S&P 500 share is published. Holdings as of Nov 4, 2026.

DRGN · 1 year to Nov 4, 2026 100% of its weight is outside the S&P 500
100% of its weight is outside the S&P 5000% of DRGN's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Nov 4, 2026.0%100%0% of its weight in S&P 500 companiesof its weight outside the S&P 500active share 100% · top ten 62% of the fund · 22 holdings as published by its issuer for Nov 4, 2026 · Nasdaq-100: 0% in100% of its weight is outside the S&P 5000% of DRGN's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Nov 4, 2026.0%100%0% of its weight in S&P 500 companiesof its weight outside the S&P 500active share 100% · Nasdaq-100: 0% in

0% of DRGN's weight is in S&P 500 companies and 100% is outside the index. Holdings as of Nov 4, 2026.

Pair scorecard

DRGN costs 0.37 points a year less; DRGN is 1.1 times larger.

Points (pts) are percentage points.

AIHY vs DRGN: Holdings Overlap & Returns
MeasureAIHYDRGN
Return
Total return, 1 yearnot published−15.8%
Drawdown
Below its all-time high8.2%, high on Oct 13, 202630.2%, high on May 13, 2026
Against its benchmark
What it tracksAI infrastructure and chipsArtificial intelligence
Its benchmark, total return, 1 year+15.0%
Against its benchmark, 1 yearbehind by 30.8 pts
Cost and size
Expense ratio0.76%0.39%
Net assets, as of Nov 3, 2026$16m$18m
Holdings
Holdings in commonnot published

Method

Window by window

Window by window: AIHY vs DRGN: Holdings Overlap & Returns
Total returnvs its benchmark
WindowAIHYDRGNAIHYDRGN
3 months+0.4%−23.4%not measured−22.1 pts vs ACWI
6 months–−24.9%–−27.5 pts vs ACWI
1 year–−15.8%–−30.8 pts vs ACWI
Since launchNot the same days: AIHY Jul 2026 · DRGN Jul 2025+5.4%+10.6%not measured−14.3 pts vs ACWI

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Side by side

AIHY Defiance AI Hyperscale Leaders ETF · Holds 12 stocks in aI infrastructure and chips DRGN Themes China Generative Artificial Intelligence ETF · Holds 22 stocks in artificial intelligence, 0% of its weight in S&P 500 companies
Issuer Defiance Themes
Theme AI infrastructure and chips Artificial intelligence
In the S&P 500 not published 0.0%
Active share vs the S&P 500 not published 100.0%
In the Nasdaq-100 not published 0.0%
Holdings 12 22
Top ten, share of the fund not published 61.9%
Expense ratio 0.76% 0.39%
Fee for the differing part not published 0.39%
Total return, 1 year +5.4% (since launch, Jul 21, 2026) −15.8%
vs its benchmark not measured −30.8 pts vs ACWI
Below its high −8.2% −30.2%
Net assets, AIHY as of Nov 3, 2026 and DRGN as of Nov 4, 2026 $16m $19m

As of Nov 4, 2026. Source: ETFIQ.

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About each fund
AIHY

AIHY holds 12 positions, as published by its issuer for Nov 4, 2026, and the book is gross exposure rather than a portfolio. Since it first traded on Jul 21, 2026 the fund returned +5.4% with distributions reinvested. It sits 8.2% below its all-time high of Oct 13, 2026.

DRGN

By weight, 0% of DRGN's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 62% of the fund across 22 positions, as published by its issuer for Nov 4, 2026. Over the year to Nov 4, 2026 the fund returned −15.8% with distributions reinvested against +15.0% for its benchmark, the MSCI ACWI Net Total Return Index, so a holder was behind by 30.8 pts. It sits 30.2% below its all-time high of May 13, 2026.

Questions people ask

Which is cheaper, AIHY or DRGN?
AIHY charges 0.76% a year and DRGN charges 0.39%, so DRGN is cheaper. Fees come from each fund's prospectus.
Other comparisons
AIHY vs DRAIAIHY vs XAAIHY vs AINTAIHY vs EPAIDRGN vs AINFDRGN vs CHPXDRGN vs COOLDRGN vs CGPT
Where to next
All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →AIHY on its own →DRGN on its own →AIHY holdings →DRGN dividend history →DRGN holdings →Method →Standards and sources →
Sources and dates
AIHY filings on SEC EDGAR ↗
AIHY prospectus with the expense ratio (SEC) ↗
Defiance page for AIHY ↗
DRGN filings on SEC EDGAR ↗
DRGN prospectus with the expense ratio (SEC) ↗
Themes page for DRGN ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Every number is an ETFIQ calculation with distributions reinvested.

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ETFIQ, AIHY against DRGN, data as of Nov 4, 2026. https://etfiq.com/compare/themes/aihy-vs-drgn

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.