  Theta 1 Ori E is a young, moderate mass binary system, a rarely observed case
of spectral-type G-giants of about 3 Solar masses, which are still collapsing
towards the main sequence. We have obtained high resolution X-ray spectra with
Chandra and find that the system is very active and similar to coronal sources,
having emission typical of magnetically confined plasma: a broad temperature
distribution with a hot component and significant high energy continuum; narrow
emission lines from H- and He-like ions, as well as a range of Fe ions, and
relative luminosity, L_x/L_bol = 0.001. Density, while poorly constrained, is
consistent with the low density limits as determined from Mg XI and Ne IX
emission lines. Coronal elemental abundances are sub-Solar, with Ne being the
highest at about 0.4 times Solar. We find a possible trend in Trapezium hot
plasmas towards low relative abundances of Fe, O, and Ne, which is hard to
explain in terms of the dust depletion scenarios of low-mass young stars.
Variability was unusually low relative to other coronally active stars. The
emission is similar to post main-sequence G-stars. Coronal structures could be
compact or comparable to the dimensions of the stellar radii. We conclude that
the X-rays in theta 1 Ori E are generated by a convective dynamo.
