FWD vs. SHEH

Last updated Aug 2, 2026

FWD (AB Disruptors ETF) and SHEH (Shell plc ADRhedged ETF) are both exchange-traded funds - FWD is a Global Equities fund actively managed by AllianceBernstein, while SHEH is a Energy Equities fund tracking the Shell plc - Benchmark Price Return. FWD is actively managed, while SHEH is passively managed. Over the past year, FWD returned 39.21% vs 28.64% for SHEH. Their -0.02 correlation means they have often moved in opposite directions in the past. FWD charges 0.65%/yr vs 0.19%/yr for SHEH.

Performance

FWD vs. SHEH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Disruptors ETF (FWD) and Shell plc ADRhedged ETF (SHEH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FWD achieves a 20.07% return, which is significantly lower than SHEH's 25.94% return.

FWD

• 1D: 1.20%
• 1M: -8.86%
• 6M: 11.18%
• YTD: 20.07%
• 1Y: 39.21%
• 3Y*: 29.50%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 31.81%

SHEH

• 1D: 1.60%
• 1M: 16.32%
• 6M: 22.14%
• YTD: 25.94%
• 1Y: 28.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 31.67%

*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)
FWD AB Disruptors ETF	$39.66M	$42.86M	$36.96M
SHEH Shell plc ADRhedged ETF	$787.46K	$653.61K	$317.20K

FWD vs. SHEH - Yearly Performance Comparison

	2026 (YTD)	2025
FWD AB Disruptors ETF	20.07%	55.64%
SHEH Shell plc ADRhedged ETF	25.94%	12.63%

Correlation

The correlation between FWD and SHEH is -0.03, 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.	-0.03
Correlation (All Time) Calculated using the full available price history since Apr 23, 2025	-0.02

FWD vs. SHEH - Sectors Allocation Comparison

Sectors	FWD	SHEH
Technology	51.2%	-
Industrials	16.7%	-
Healthcare	8.1%	-
Communication Services	3.8%	-
Consumer Cyclical	3.4%	-
Basic Materials	1.8%	-
Energy	0.8%	96.5%
Consumer Defensive	0.8%	-
Real Estate	0.8%	-
Financial Services	0.5%	-
Utilities	0.3%	-

Return for Risk

FWD vs. SHEH — Risk / Return Rank

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

FWD

FWD Risk / Return Rank: 51
FWD Sharpe Ratio Rank: 51
FWD Sortino Ratio Rank: 48
FWD Omega Ratio Rank: 48
FWD Calmar Ratio Rank: 50
FWD Martin Ratio Rank: 58

SHEH

SHEH Risk / Return Rank: 48
SHEH Sharpe Ratio Rank: 55
SHEH Sortino Ratio Rank: 52
SHEH Omega Ratio Rank: 51
SHEH Calmar Ratio Rank: 44
SHEH Martin Ratio Rank: 40

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.

FWD vs. SHEH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Disruptors ETF (FWD) and Shell plc ADRhedged ETF (SHEH). 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.

	FWD	SHEH	Difference
Sharpe ratio: Return per unit of total volatility	1.24	1.34	-0.10
Sortino ratio: Return per unit of downside risk	1.72	1.87	-0.14
Omega ratio: Gain probability vs. loss probability	1.22	1.23	-0.02
Calmar ratio: Return relative to maximum drawdown	1.78	1.60	+0.19
Martin ratio: Return relative to average drawdown	6.86	4.36	+2.50

FWD vs. SHEH - Sharpe Ratio Comparison

The current FWD Sharpe Ratio is 1.24, which is comparable to the SHEH Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of FWD and SHEH, 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

FWD vs. SHEH - Drawdown Comparison

The maximum FWD drawdown since its inception was -29.02%, which is greater than SHEH's maximum drawdown of -17.53%. Use the drawdown chart below to compare losses from any high point for FWD and SHEH.

Drawdown Indicators

	FWD	SHEH	Difference
Max Drawdown Largest peak-to-trough decline	-29.02%	-17.53%	-11.49%
Max Drawdown (1Y) Largest decline over 1 year	-20.49%	-17.53%	-2.96%
Max Drawdown (3Y) Largest decline over 3 years	-29.02%	—	—
Current Drawdown Current decline from peak	-15.78%	-2.90%	-12.88%
Average Drawdown Average peak-to-trough decline	-4.26%	-4.14%	-0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.32%	6.41%	-1.09%

Volatility

FWD vs. SHEH - Volatility Comparison

AB Disruptors ETF (FWD) has a higher volatility of 11.37% compared to Shell plc ADRhedged ETF (SHEH) at 6.72%. This indicates that FWD's price experiences larger fluctuations and is considered to be riskier than SHEH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FWD	SHEH	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.37%	6.72%	+4.65%
Volatility (6M) Calculated over the trailing 6-month period	24.87%	17.32%	+7.55%
Volatility (1Y) Calculated over the trailing 1-year period	29.47%	20.97%	+8.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.00%	20.55%	+5.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.00%	20.55%	+5.45%

FWD vs. SHEH - Expense Ratio Comparison

FWD has a 0.65% expense ratio, which is higher than SHEH's 0.19% expense ratio.

Dividends

FWD vs. SHEH - Dividend Comparison

FWD's dividend yield for the trailing twelve months is around 0.09%, less than SHEH's 1.84% yield.

Position	TTM	2025	2024
FWD AB Disruptors ETF	0.09%	0.11%	1.89%
SHEH Shell plc ADRhedged ETF	1.84%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FWD and SHEH in my portfolio?

FWD and SHEH have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FWD or SHEH?

FWD has higher volatility (11.37%) compared to SHEH (6.72%). In terms of maximum drawdown, FWD dropped -29.02% vs SHEH's -17.53%.

Which ETF is better, FWD or SHEH?

On 1-year performance, FWD leads with 39.21% vs 28.64% for SHEH. On fees, SHEH is cheaper at 0.19% per year. On volatility, SHEH has been the lower-risk option at 6.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FWD or SHEH?

Over the 1-year period, FWD has performed better with a 39.21% return vs 28.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FWD or SHEH?

SHEH is cheaper with a 0.19% expense ratio, compared with 0.65% for FWD.

Which ETF pays a higher dividend yield, FWD or SHEH?

SHEH has the higher dividend yield at 1.84%, compared with 0.09% for FWD.

What is the main difference between FWD and SHEH?

FWD is categorized as Global Equities, while SHEH is Energy Equities. They also come from different issuers: AllianceBernstein and ADRhedged. Their fees differ too: 0.65% for FWD and 0.19% for SHEH.

Which has better risk-adjusted returns?

SHEH currently has the higher Sharpe Ratio (1.34 vs 1.24), 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.