BLTD vs. SAPH

Last updated Aug 4, 2026

BLTD (Bluemonte Long Term Bond ETF) and SAPH (ADRhedged SAP ETF) are both exchange-traded funds - BLTD is a Long-Term 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, BLTD returned 0.11% vs -30.02% for SAPH. Their 0.09 correlation means their historical movements had little consistent relationship. BLTD charges 0.23%/yr vs 0.19%/yr for SAPH.

Performance

BLTD vs. SAPH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bluemonte Long Term Bond ETF (BLTD) 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, BLTD achieves a -1.95% return, which is significantly higher than SAPH's -17.92% return.

BLTD

• 1D: 0.35%
• 1M: -2.70%
• 6M: -1.94%
• YTD: -1.95%
• 1Y: 0.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 1.56%

SAPH

• 1D: 3.76%
• 1M: 15.94%
• 6M: -3.64%
• YTD: -17.92%
• 1Y: -30.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -19.70%

*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)
BLTD Bluemonte Long Term Bond ETF	$317.91K	$316.46K	$451.36K
SAPH ADRhedged SAP ETF	$29.72K	$23.56K	$21.56K

BLTD vs. SAPH - Yearly Performance Comparison

	2026 (YTD)	2025
BLTD Bluemonte Long Term Bond ETF	-1.95%	3.76%
SAPH ADRhedged SAP ETF	-17.92%	-16.37%

Correlation

The correlation between BLTD and SAPH is 0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.10
Correlation (All Time) Calculated using the full available price history since Jun 23, 2025	0.09

Return for Risk

BLTD vs. SAPH — Risk / Return Rank

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

BLTD

BLTD Risk / Return Rank: 10
BLTD Sharpe Ratio Rank: 11
BLTD Sortino Ratio Rank: 10
BLTD Omega Ratio Rank: 10
BLTD Calmar Ratio Rank: 11
BLTD Martin Ratio Rank: 11

SAPH

SAPH Risk / Return Rank: 3
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.

BLTD vs. SAPH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bluemonte Long Term Bond ETF (BLTD) 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.

	BLTD	SAPH	Difference
Sharpe ratio: Return per unit of total volatility	0.02	-0.80	+0.82
Sortino ratio: Return per unit of downside risk	0.07	-1.02	+1.09
Omega ratio: Gain probability vs. loss probability	1.01	0.87	+0.14
Calmar ratio: Return relative to maximum drawdown	0.02	-0.64	+0.66
Martin ratio: Return relative to average drawdown	0.05	-1.03	+1.08

BLTD vs. SAPH - Sharpe Ratio Comparison

The current BLTD Sharpe Ratio is 0.02, which is higher than the SAPH Sharpe Ratio of -0.80. The chart below compares the historical Sharpe Ratios of BLTD 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

BLTD vs. SAPH - Drawdown Comparison

The maximum BLTD drawdown since its inception was -4.97%, smaller than the maximum SAPH drawdown of -51.72%. Use the drawdown chart below to compare losses from any high point for BLTD and SAPH.

Drawdown Indicators

	BLTD	SAPH	Difference
Max Drawdown Largest peak-to-trough decline	-4.97%	-51.72%	+46.75%
Max Drawdown (1Y) Largest decline over 1 year	-4.97%	-47.02%	+42.05%
Current Drawdown Current decline from peak	-4.63%	-38.46%	+33.83%
Average Drawdown Average peak-to-trough decline	-1.76%	-23.24%	+21.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	29.12%	-26.91%

Volatility

BLTD vs. SAPH - Volatility Comparison

The current volatility for Bluemonte Long Term Bond ETF (BLTD) is 1.79%, while ADRhedged SAP ETF (SAPH) has a volatility of 15.45%. This indicates that BLTD 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

	BLTD	SAPH	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.79%	15.45%	-13.66%
Volatility (6M) Calculated over the trailing 6-month period	5.22%	29.44%	-24.22%
Volatility (1Y) Calculated over the trailing 1-year period	6.67%	37.56%	-30.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.81%	35.58%	-28.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.81%	35.58%	-28.77%

BLTD vs. SAPH - Expense Ratio Comparison

BLTD 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

BLTD vs. SAPH - Dividend Comparison

BLTD's dividend yield for the trailing twelve months is around 4.50%, more than SAPH's 3.40% yield.

Position	TTM	2025
BLTD Bluemonte Long Term Bond ETF	4.50%	2.48%
SAPH ADRhedged SAP ETF	3.40%	0.00%

Frequently Asked Questions

Can I hold both BLTD and SAPH in my portfolio?

BLTD and SAPH have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BLTD or SAPH?

SAPH has higher volatility (15.45%) compared to BLTD (1.79%). In terms of maximum drawdown, BLTD dropped -4.97% vs SAPH's -51.72%.

Which ETF is better, BLTD or SAPH?

On 1-year performance, BLTD leads with 0.11% vs -30.02% for SAPH. On fees, SAPH is cheaper at 0.19% per year. On volatility, BLTD has been the lower-risk option at 1.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BLTD or SAPH?

Over the 1-year period, BLTD has performed better with a 0.11% return vs -30.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BLTD or SAPH?

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

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

BLTD has the higher dividend yield at 4.50%, compared with 3.40% for SAPH.

What is the main difference between BLTD and SAPH?

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

Which has better risk-adjusted returns?

BLTD currently has the higher Sharpe Ratio (0.02 vs -0.80), 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.