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The DragonX® indices

CONSTANT MATURITY PERFORMANCE INDICES
CURRENCY BASKET PERFORMANCE INDICES
BESPOKE INDICES

What is the purpose of the DragonX indices?

GB Dragon intends the DragonX indices to be the market standard indices for China government bonds, having the same status as say the S&P500 or Bloomberg's global bond indices, though of course covering a narrower range of assets.

How do the DragonX bond indices work?

What are the differences between the DragonX bond indices and traditional bond indices?

What are the maturities of the DragonX bond indices?

  • DragonX1 - 1 year

  • DragonX5 - 5 years

  • DragonX10 - 10 years

  • DragonX30 - 30 years

All the above indices started on 30th September 2022 at ¥1,000.00

How can the bond indices be customised?

The current indices rebalance every week.  We can design customised indices for a different rebalancing schedule to match investors' own maturity or duration rebalancing schedule, e.g., monthly or quarterly.  We can also provide indices priced off a constant-maturity zero-coupon curve.

What bespoke indices can you construct?

How do your currency basket indices work?

We compare the performance of a cash investment in local currency at a short term interest rate with an investment in a foreign currency or basket using rates of the same period, converted back to local currency.

We can build indices using a variety of methodologies based on any financial product for which we can provide rates or values, and tailored to your required measurement horizon or investment approach.

The DragonX indices are derived from constant-maturity par yields.  They're not dependent on selecting and pricing bond baskets, and they are automatically rebalanced.  And unlike other major indices they are available in a range of maturities.

The indices behave as though an investor buys a par bond of the appropriate maturity and then later - in the standard index, after one week - sells that bond at the appropriate new yield, receiving accrued interest, and reinvests the proceeds in a new par bond with the same original maturity.

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