BPH vs SHEH

BPHCBP p.l.c. ADRhedged

SHEHBShell plc ADRhedged

In short

BPH Most single-stock ETFs chase leverage. This one does the opposite: it holds BP through an ADR and pairs it with a currency contract meant to strip out the pound-dollar swing, so you get the oil major's story without the FX one.

SHEH Shell in one ticker, minus the currency guessing game. SHEH holds the Shell ADR and pairs it with a currency swap meant to strip out dollar-versus-local-currency moves, leaving the oil major's own local-currency return.

Stated mandate

BPH The Series seeks to provide returns that generally correspond, before fees and expenses, to BP p.l.c.'s ordinary shares in the company's local market.

SHEH The Fund seeks returns that generally correspond, before fees and expenses, to the total return of Shell plc ordinary shares in the company’s local market and local currency; achievement is not assured.

Why people hold it

• BPH The hedge is baked in. A currency contract sits alongside the BP ADR to reduce the foreign-exchange exposure that normally tags along with an overseas listing.precidian.com
• 0.19% a year, matching the median for its currency-hedged peer group and the same sticker as sibling ADRhedged funds like HSBH and SHEH.
• One US-listed ticker replaces the ADR-plus-forward setup a hedged investor would otherwise build by hand. Distributions come quarterly.

• SHEH Two trades in one ticker: the Shell ADR plus a currency swap built to offset dollar-versus-local-currency moves. No separate FX hedge to run alongside it.precidian.com
• 0.19% expense ratio, matching the rest of the ADRhedged lineup (HSBH, BPH, GSKH) and the currency-hedged cohort median. The hedge is not priced as an add-on.
• The swap settles daily and resets at-the-money, with the notional adjusting automatically, so the hedge follows the position rather than a fixed dollar amount.adrhedged.com
• Sits in the upper half of its currency-hedged peer group.

Worth knowing

• BPH One company, one sector. BP drives every move here, and the hedge addresses currency, not oil prices or company-specific news.
• A small fund that trades thinly, so spreads and limit orders deserve more attention than with a heavily traded name.
• Launched in 2025, so the live record behind the hedge is still short.

• SHEH One company, one balance sheet. Shell's results, energy prices and headlines drive the whole position; no index is there to cushion a bad quarter.
• The hedge cuts both ways: if the local currency gains on the dollar, that tailwind is stripped out too. Swaps also carry counterparty and imperfect-correlation risk.adrhedged.com
• A small, lightly traded fund that launched in 2024. Spreads and order size matter more here than in mainstream ETFs.

Full BPH profile⁠

Full SHEH profile⁠