Data as of Nov 4, 2026.
AIPO vs DRGN: Holdings Overlap & Returns
Over the year to Nov 4, 2026, AIPO returned −1.7% to DRGN's −15.8%; 0% of their weight is in the same names.
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Net assets: $831m on Nov 3, 2026 for Defiance AI & Power Infrastructure ETF, and $19m on Nov 4, 2026 for Themes China Generative Artificial Intelligence ETF.
68% of AIPO's weight is in S&P 500 companies and 32% is outside the index. Holdings as of Nov 4, 2026.
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 0.30 points a year less; their one-year returns differ by 14.1 points; AIPO is far larger, $831m against $18m.
Points (pts) are percentage points.
| Measure | AIPO | DRGN |
|---|---|---|
| Return | ||
| Total return, 1 year | −1.7% | −15.8% |
| Drawdown | ||
| Below its all-time high | 32.0%, high on Jun 22, 2026 | 30.2%, high on May 13, 2026 |
| Against its benchmark | ||
| What it tracks | AI infrastructure and chips | Artificial intelligence |
| Against the S&P 500, 1 year | behind by 16.5 pts | |
| Its benchmark, total return, 1 year | +14.8% | +15.0% |
| Against its benchmark, 1 year | behind by 16.5 pts | behind by 30.8 pts |
| Cost and size | ||
| Expense ratio | 0.69% | 0.39% |
| Net assets, as of Nov 3, 2026 | $831m | $18m |
| Holdings | ||
| Holdings in common | 0% | |
What they share
By the books each fund has filed, AIPO and DRGN hold 0% of their money in the same securities at the same weight. Holdings dated Nov 4, 2026.
half
0% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | AIPO | DRGN | AIPO | DRGN |
| 3 months | −21.5% | −23.4% | −21.4 pts vs VOO | −22.1 pts vs ACWI |
| 6 months | −29.0% | −24.9% | −34.0 pts vs VOO | −27.5 pts vs ACWI |
| 1 year | −1.7% | −15.8% | −16.5 pts vs VOO | −30.8 pts vs ACWI |
| Since launchNot the same days: AIPO Jul 2025 · DRGN Jul 2025 | +16.2% | +10.6% | −5.9 pts vs VOO | −14.3 pts vs ACWI |
Side by side
As of Nov 4, 2026. Source: ETFIQ.
0% of the two portfolios are the same securities at the same weight.
AIPO
By weight, 68% of AIPO's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 86%. The top ten holdings are 58% of the fund across 86 positions, as published by its issuer for Nov 4, 2026. Over the year to Nov 4, 2026 the fund returned −1.7% with distributions reinvested against +14.8% for its benchmark, the S&P 500 Total Return Index, so a holder was behind by 16.5 pts. It sits 32.0% below its all-time high of Jun 22, 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
- Do AIPO and DRGN hold the same stocks?
- By their latest filings, 0% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, AIPO against DRGN, data as of Nov 4, 2026. https://etfiq.com/compare/themes/aipo-vs-drgn
ETFIQ. (Nov 4, 2026). AIPO against DRGN. Retrieved from https://etfiq.com/compare/themes/aipo-vs-drgn
[AIPO against DRGN (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/themes/aipo-vs-drgn)
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