At a glance
DRAG charges 0.59% a year, the same as the average of the 7 funds most like it (the 4th cheapest of 8). It has $37.5M in assets, the 7th largest of that group; it paid 3.41% of its price in distributions over the past 12 months, annual. Over the past year it returned +8.9% with distributions reinvested (S&P 500: +11.5%), 2nd of those 8 funds.
The short version
Roundhill China Dragons ETF (DRAG) is a stock fund from Roundhill Investments that targets Chinese companies. It launched October 3, 2024. Its 0.59% annual fee matches the 0.59% average of similar funds. It is small, with about $37.5 million in assets. Its price has swung hard: volatility (a measure of how widely prices move) was 74.5% for the year to October 27, 2026, and it fell 42% in June 2026.
Price history
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DRAG +8.9% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| DRAG price data to Oct 27, 2026 | +20.4% | +8.9% | — | — | — | +9.1% |
- Over the year to Oct 27, 2026, DRAG returned +8.9%, 2nd of 8 among similar funds.
- Its worst full calendar year was 2025 (+16.3%); its best was 2025 (+16.3%).
- The deepest fall in its price history was 42% (Jun 9, 2026 to Jun 26, 2026), recovered by Jul 20, 2026.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +20.4% |
| 2025 | +16.3% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.9753 |
How it works
The fund's prospectus was not available for this review. We also could not find DRAG in SEC ticker records, which can happen when a fund has been renamed, closed or registered under another name. So we can't say which index DRAG follows, if it follows one. Nor can we say how it picks and weights its holdings or how often it rebalances. Roundhill Investments' fund page and prospectus are the places to check those details and the latest holdings list.
Here is what we can say. DRAG is an equity ETF (exchange-traded fund), meaning a basket of stocks that trades on an exchange like a single share. It is not a leveraged or inverse fund, so there is no daily reset that can make long-term results drift away from the stocks it owns. It does not sell options for income, and it has no buffer or cap on gains or losses.
Its record is short: about 2.1 years of prices as of October 27, 2026. Over the past year its beta, a measure of how much it moves with the broader market, was 1.03. At $37.5 million in assets, it ranks 7th of 8 in its comparison group. Small funds can have wider trading spreads (the gap between buying and selling prices) and are more likely to close.
What it really costs
- DRAG charges 0.59% a year, versus an average of 0.59% for the similar funds below (4th of 8, cheapest first).
In a retirement portfolio
A young, small fund focused on one country, with 74.5% volatility over the year to October 27, 2026, fits best as a small side position rather than a foundation.
DRAG adds focused exposure to Chinese stocks, which a broad US-centered portfolio may hold little of. It launched in October 2024, so it has no record from the 2008, 2020 or 2022 downturns. Its only full calendar year, 2025, returned 16.3%. That short record still shows how sharply it can move. From June 9 to June 26, 2026, it fell 42%, then recovered by July 20, 2026. Anyone who had to sell shares or take cash during that drop would have locked in a deep loss. A quick recovery once does not mean the next one will be quick. It paid $0.9753 per share over the past 12 months, a 3.41% yield as of October 27, 2026. It pays once a year, so it is not a steady income source. Its 0.59% fee matches its peer average. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a small, deliberate China stock position alongside a diversified core and can handle 42% drops like the one in June 2026.
- People comparing China funds on cost: DRAG's 0.59% fee matches MCHI's and is below KWEB's 0.70% and FXI's 0.74%.
- Investors who don't need regular income, since DRAG pays once a year, totaling $0.9753 per share over the 12 months to October 27, 2026.
Look elsewhere if
- Retirees who may need to sell shares in a downturn; volatility was 74.5% over the year to October 27, 2026.
- Investors who want a long track record: DRAG launched October 3, 2024, and has no history in the 2008, 2020 or 2022 downturns.
- Those who prefer large, well-documented funds; DRAG has about $37.5 million in assets, while MCHI has $6.3 billion.
Close alternatives
Matched by legacy category (no holdings report for this fund).
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| DRAG this fund | 0.59% | $37.5M | +8.9% | — |
| CGRO CoreValues Alpha Greater China Growth ETF | 0.75% | $8.5M | -34.7% | +1.9% |
| ONLN ProShares Online Retail ETF | 0.58% | $67.3M | -7.6% | +25.6% |
| EBIZ Global X E-commerce ETF | 0.5% | $72.5M | -17.7% | +20.2% |
| EMXC iShares MSCI Emerging Markets ex China ETF | 0.25% | $14.50B | +27.3% | +24.6% |
| KWEB KraneShares CSI China Internet ETF | 0.7% | $8.00B | -40.7% | -0.9% |
| FXI iShares China Large-Cap ETF | 0.74% | $7.50B | -19.4% | +11.0% |
| MCHI iShares MSCI China ETF | 0.59% | $6.30B | -23.7% | +8.1% |
Questions investors ask
What does the DRAG ETF invest in?
DRAG is a Roundhill Investments stock fund that targets Chinese companies, as its name suggests. We did not have its prospectus or a holdings report, so we can't list its largest positions, name an index, or explain how it weights stocks. Roundhill's fund page publishes holdings and the full prospectus. What we can confirm is that DRAG does not use leverage, inverse bets or options, and that it launched October 3, 2024.
Does DRAG pay a dividend?
Yes, but only once a year. Over the 12 months to October 27, 2026, DRAG paid $0.9753 per share, a trailing yield of 3.41%. A trailing yield looks back at what the fund paid over the past year. It does not promise future payments. Because payouts come once a year and depend on what the underlying companies pay, DRAG is not built to provide steady monthly or quarterly income.
DRAG vs MCHI: what's the difference?
Both charge 0.59% a year, but they differ in size and recent results. iShares MSCI China ETF (MCHI) follows the MSCI China index and had about $6.3 billion in assets, compared with DRAG's $37.5 million. For the year to October 27, 2026, DRAG returned 8.9% while MCHI lost 23.7%. MCHI also has a longer record, returning 8.1% over three years. DRAG is too new to have a three-year figure.
Is DRAG a risky ETF?
Yes, by its record so far. Volatility was 74.5% over the year to October 27, 2026. That is very high for a stock fund. Between June 9 and June 26, 2026, the fund fell 42%, then recovered by July 20, 2026. It also focuses on a single country, which adds political and currency risk. With about 2.1 years of history, it has not yet been tested in a long bear market.
What is DRAG's expense ratio?
DRAG's expense ratio is 0.59%, meaning 0.59% of your investment goes to fund costs each year. That equals the 0.59% average for similar funds and ranks 4th cheapest of 8 in its comparison group. China-focused alternatives cost more or the same: KraneShares CSI China Internet ETF (KWEB) charges 0.70%, iShares China Large-Cap ETF (FXI) 0.74%, and iShares MSCI China ETF (MCHI) 0.59%.