ARMH vs CHPS

ARMHCArm Holdings PLC ADRhedged

CHPSAXtrackers Semiconductor Select Equity ETF

In short

ARMH A single-stock ETF with an unusual job: hold the Arm Holdings ADR and use a currency contract to strip out the exchange-rate layer baked into ordinary ADR investing, aiming to deliver the stock's local-market return, less expenses.

CHPS Semiconductors without the semiconductor markup. CHPS tracks a global chip index with an ESG screen baked in, holds roughly 50 names, and charges 0.15%, undercutting the category's household names.

Stated mandate

ARMH The Fund seeks to provide, before fees and expenses, returns corresponding generally to Arm Holdings PLC’s ordinary shares in its local market and local currency. Its ADR exposure is paired with currency swaps intended to hedge exchange-rate fluctuations.

CHPS The fund seeks investment results corresponding generally to the performance of the Solactive Semiconductor ESG Screened Index before fees and expenses.

Why people hold it

• ARMH Ordinary ADRs quietly blend company returns with currency swings. This one hedges that out by contract, targeting Arm's local-market return, less expenses.precidian.com
• 0.19% a year, comfortably under the 0.35% median for semiconductor funds, matching SOXQ and undercutting SMH and SOXX.
• Pinpoint exposure. One company, not a basket of chipmakers, wrapped in an ETF that trades on a US exchange during US hours.precidian.com

• CHPS At 0.15%, one of the cheapest doors into chips. SMH and SOXX each charge more than double.
• Global mandate, so foreign foundries and equipment makers are in scope, not just the US-listed marquee names.
• The ESG screen sits inside the index itself: the chip universe gets filtered before the portfolio is built.
• Simple plumbing. Roughly 50 holdings, one published index, cash paid out quarterly.

Worth knowing

• ARMH One stock, one story. Diversified chip funds like SMH or SOXX spread a bad quarter across many companies; here, Arm news is the entire fund.
• The hedge cuts both ways: currency moves that would have flattered an unhedged ADR holder are removed along with the ones that would have stung.precidian.com
• Launched in 2025 and still a small fund, it changes hands less often than the household-name semiconductor ETFs, which can show up in bid-ask spreads.

• CHPS Trades thinly next to SMH and SOXX. Spreads can be wider, and size takes more care to get filled.
• Launched in 2023, so the record is short against chip funds that have lived through several boom-bust cycles.
• The screen excludes some chip companies outright, so the lineup can look different from unscreened rivals.

Full ARMH profile⁠

Full CHPS profile⁠