BDBT vs. SAPH

Last updated Aug 5, 2026

BDBT (Bluemonte Core Bond ETF) and SAPH (ADRhedged SAP ETF) are both exchange-traded funds - BDBT is a Intermediate Core Bond fund actively managed by Bluemonte, while SAPH is a Actively Managed fund actively managed by ADRhedged. Both are actively managed. Over the past year, BDBT returned 2.16% vs -28.63% for SAPH. Their 0.11 correlation means their historical movements had little consistent relationship. BDBT charges 0.23%/yr vs 0.19%/yr for SAPH.

Performance

BDBT vs. SAPH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bluemonte Core Bond ETF (BDBT) and ADRhedged SAP ETF (SAPH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BDBT achieves a -0.13% return, which is significantly higher than SAPH's -15.93% return.

BDBT

• 1D: 0.47%
• 1M: -0.66%
• 6M: -0.23%
• YTD: -0.13%
• 1Y: 2.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.19%

SAPH

• 1D: 2.42%
• 1M: 18.75%
• 6M: 3.83%
• YTD: -15.93%
• 1Y: -28.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -18.44%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BDBT Bluemonte Core Bond ETF	$774.67K	$800.04K	$1.18M
SAPH ADRhedged SAP ETF	$29.78K	$23.33K	$21.23K

BDBT vs. SAPH - Yearly Performance Comparison

	2026 (YTD)	2025
BDBT Bluemonte Core Bond ETF	-0.13%	3.70%
SAPH ADRhedged SAP ETF	-15.93%	-16.37%

Correlation

The correlation between BDBT and SAPH is 0.11, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.11
Correlation (All Time) Calculated using the full available price history since Jun 23, 2025	0.11

Return for Risk

BDBT vs. SAPH — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BDBT

BDBT Risk / Return Rank: 22
BDBT Sharpe Ratio Rank: 23
BDBT Sortino Ratio Rank: 21
BDBT Omega Ratio Rank: 20
BDBT Calmar Ratio Rank: 23
BDBT Martin Ratio Rank: 23

SAPH

SAPH Risk / Return Rank: 4
SAPH Sharpe Ratio Rank: 3
SAPH Sortino Ratio Rank: 3
SAPH Omega Ratio Rank: 3
SAPH Calmar Ratio Rank: 4
SAPH Martin Ratio Rank: 4

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BDBT vs. SAPH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bluemonte Core Bond ETF (BDBT) and ADRhedged SAP ETF (SAPH). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BDBT	SAPH	Difference
Sharpe ratio: Return per unit of total volatility	0.57	-0.76	+1.34
Sortino ratio: Return per unit of downside risk	0.83	-0.95	+1.79
Omega ratio: Gain probability vs. loss probability	1.10	0.88	+0.22
Calmar ratio: Return relative to maximum drawdown	0.75	-0.61	+1.36
Martin ratio: Return relative to average drawdown	1.83	-0.98	+2.81

BDBT vs. SAPH - Sharpe Ratio Comparison

The current BDBT Sharpe Ratio is 0.57, which is higher than the SAPH Sharpe Ratio of -0.76. The chart below compares the historical Sharpe Ratios of BDBT and SAPH, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BDBT vs. SAPH - Drawdown Comparison

The maximum BDBT drawdown since its inception was -2.88%, smaller than the maximum SAPH drawdown of -51.72%. Use the drawdown chart below to compare losses from any high point for BDBT and SAPH.

Drawdown Indicators

	BDBT	SAPH	Difference
Max Drawdown Largest peak-to-trough decline	-2.88%	-51.72%	+48.84%
Max Drawdown (1Y) Largest decline over 1 year	-2.88%	-47.02%	+44.14%
Current Drawdown Current decline from peak	-1.93%	-36.96%	+35.03%
Average Drawdown Average peak-to-trough decline	-0.85%	-23.27%	+22.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.18%	29.18%	-28.00%

Volatility

BDBT vs. SAPH - Volatility Comparison

The current volatility for Bluemonte Core Bond ETF (BDBT) is 1.16%, while ADRhedged SAP ETF (SAPH) has a volatility of 15.41%. This indicates that BDBT experiences smaller price fluctuations and is considered to be less risky than SAPH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BDBT	SAPH	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.16%	15.41%	-14.25%
Volatility (6M) Calculated over the trailing 6-month period	3.07%	29.41%	-26.34%
Volatility (1Y) Calculated over the trailing 1-year period	3.80%	37.57%	-33.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.87%	35.59%	-31.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.87%	35.59%	-31.72%

BDBT vs. SAPH - Expense Ratio Comparison

BDBT has a 0.23% expense ratio, which is higher than SAPH's 0.19% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

BDBT vs. SAPH - Dividend Comparison

BDBT's dividend yield for the trailing twelve months is around 3.95%, more than SAPH's 3.32% yield.

Position	TTM	2025
BDBT Bluemonte Core Bond ETF	3.95%	2.21%
SAPH ADRhedged SAP ETF	3.32%	0.00%

Frequently Asked Questions

Can I hold both BDBT and SAPH in my portfolio?

BDBT and SAPH have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BDBT or SAPH?

SAPH has higher volatility (15.41%) compared to BDBT (1.16%). In terms of maximum drawdown, BDBT dropped -2.88% vs SAPH's -51.72%.

Which ETF is better, BDBT or SAPH?

On 1-year performance, BDBT leads with 2.16% vs -28.63% for SAPH. On fees, SAPH is cheaper at 0.19% per year. On volatility, BDBT has been the lower-risk option at 1.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BDBT or SAPH?

Over the 1-year period, BDBT has performed better with a 2.16% return vs -28.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BDBT or SAPH?

SAPH is cheaper with a 0.19% expense ratio, compared with 0.23% for BDBT.

Which ETF pays a higher dividend yield, BDBT or SAPH?

BDBT has the higher dividend yield at 3.95%, compared with 3.32% for SAPH.

What is the main difference between BDBT and SAPH?

BDBT is categorized as Intermediate Core Bond, while SAPH is Actively Managed. They also come from different issuers: Bluemonte and ADRhedged. Their fees differ too: 0.23% for BDBT and 0.19% for SAPH.

Which has better risk-adjusted returns?

BDBT currently has the higher Sharpe Ratio (0.57 vs -0.76), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.