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Launched · SEC filings

SAP SE ADRhedged

SAPHNYSE ArcaD

$41.55+0.08 (+0.20%)

As of Oct 13, 2026, 3:07 PM

D35/ 100

Rank 9 of 9 in Currency-Hedged Funds

D35/100Rank 9 of 9inCurrency-Hedged Funds
Intraday session: up, 5 prints from 41.47 to 41.55. Range 41.47 to 41.60. Use the arrow keys to read each point.41.5041.5241.5841.6010 AM12 PM2 PM4 PM
Expense ratio
0.19%
Fund size
$1M
1Y total return
−11.8%
Yield · Last 12 months
Data unavailable
Holdings
2
Avg volume · 30D
0M sh
NAV per share
$40.52
52W range
low $27.49high $51.58
Launched
Filings
SEC EDGAR

The ETF.net SAPH Grade

Based on 5 of 6 pillars

D

Score 35 out of 100

Category
Currency-Hedged Funds⁠
Rank
9 of 9
Six-pillar profile for SAPH. Scores out of 100: Cost 55, Risk 15, Mission not scored, Tradability 19, Holdings 39, Durability 30. Strongest: Cost (55). Weakest: Risk (15). Based on 5 of 6 pillars.

Score 35 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

Very small fund, grade capped at C.

The cap holds the Score at 40 or below, so B and A are out of reach.

The pillars earned
36
This cap took
−0
Published Score
35 Grade D

  • Cost

    The fund’s net expense ratio, ranked against its category.
    B55 out of 100
    Rank 2 of 9

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    F15 out of 100
    Rank 9 of 9

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F19 out of 100
    Rank 9 of 9

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D39 out of 100
    Rank 6 of 8

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D30 out of 100
    Rank 7 of 9

Our read on SAPH

ETF.net Research

DOne ticker, one stock, no euro side bet: SAPH holds SAP SE through an American Depositary Receipt with the currency hedge built into the wrapper, so the euro-dollar tug of war is largely taken off the table.

Stated mandate

The fund is designed to provide exposure to SAP SE through an American Depositary Receipt while mitigating currency risk between the company’s local currency and the U.S. dollar.

Why people hold it

  1. 01The hedge is baked in. You get SAP SE exposure through its ADR with the local-currency-versus-dollar swing mitigated inside the fund, instead of holding the ADR and running a separate currency trade alongside it.
  2. 020.19% a year, the same fee as the rest of the ADRhedged shelf (HSBH, STHH, BPH), and in line with the currency-hedged group median. You are not paying a premium for the hedging plumbing.
  3. 03Surgical, not thematic. The reference asset is SAP SE itself, a single European technology name, so nothing in a broad Europe-tech basket waters down the position.

Worth knowing

  1. 01One company carries the whole fund. There is no diversification cushion here: SAP's own earnings, guidance and headlines drive the ride.
  2. 02A hedge cuts both ways. Mitigating the currency move also strips out the tailwind unhedged ADR holders get when the dollar weakens.
  3. 03Young and small: launched in 2025, still a thinly traded fund with a modest asset base, which can show up as wider bid-ask spreads than a mainstream ETF.

SAPH Holdings

As of Oct 13, 2026
Asset class
Stocks
Holdings
2
Top-10 weight
100%
Largest holding
SAP95.5%

Geography

  • Germany100.00%

Developed 100% · Emerging 0% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001SAPSap SE95.52%3,593$772K68
002—Cash (US$)4.48%0$36K10

Showing 1–2 of 2 holdings

SAPH Performance

Launched Jan 3, 2025

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.
SAPH$8,822
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. SAPH $8,822. SPY $12,044. Use the arrow keys to read each point.$5,351$8,954$12,556Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for SAPH. Periods over one year show the average yearly return.
PeriodSAPH
Year to date−2.9%
1 month+10.1%
3 months+40.8%
1 year−11.8%
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for SAPH
YearReturn barSAPH
2026 YTD−2.9%
2025−12.8%

History from Jan 7, 2025

SAPH in the news

Filtered to SAPH · ADR hedged

SAPH Dividends

Last payment
$0.96 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 2 payments in 2026 YTD. Mar 16, 2026 $0.24; Jun 16, 2026 $0.96. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Jun 16, 2026Jun 23, 2026$0.96
Mar 16, 2026Mar 23, 2026$0.24

SAPH Risk

How much the fund’s monthly returns vary, scaled to a year.
31.4%
Annualised · 20 months to Sep 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−0.59
vs 3-month T-bills · 20 months to Sep 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−51.6%
21 months · trough Jul 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.59
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

SAPH Cost

Expense ratio0.19%
  • The middle half of Currency-Hedged Funds funds
  • Median 0.19%

1 of the 9 Currency-Hedged Funds funds charge less.

SAPH costs $19.00 a year on $10,000. The median Currency-Hedged Funds fund costs $19.00.

Other funds in Currency-Hedged Funds

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