SAPH vs. HSBH
SAPH (ADRhedged SAP ETF) and HSBH (HSBC Holdings plc ADRhedged ETF) are both exchange-traded funds - SAPH is a Actively Managed fund actively managed by ADRhedged, while HSBH is a Financials Equities fund tracking the HSBC Holdings plc Local Shares Total Return. SAPH is actively managed, while HSBH is passively managed. Over the past year, SAPH returned -32.30% vs 62.84% for HSBH. Their 0.02 correlation means their historical movements had little consistent relationship. Both charge a 0.19% expense ratio.
Performance
SAPH vs. HSBH - Performance Comparison
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Returns By Period
In the year-to-date period, SAPH achieves a -19.27% return, which is significantly lower than HSBH's 34.56% return.
SAPH
- 1D
- 3.32%
- 1M
- 19.22%
- 6M
- -15.81%
- YTD
- -19.27%
- 1Y
- -32.30%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -20.71%
HSBH
- 1D
- -1.77%
- 1M
- 7.10%
- 6M
- 24.77%
- YTD
- 34.56%
- 1Y
- 62.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 64.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.10M | $975.44K | $518.26K | |
| $30.61K | $28.06K | $22.54K |
SAPH vs. HSBH - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
SAPH ADRhedged SAP ETF | -19.27% | -4.75% |
HSBH HSBC Holdings plc ADRhedged ETF | 34.56% | 39.95% |
Correlation
The correlation between SAPH and HSBH 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 |
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Return for Risk
SAPH vs. HSBH — Risk / Return Rank
SAPH
HSBH
SAPH vs. HSBH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ADRhedged SAP ETF (SAPH) and HSBC Holdings plc ADRhedged ETF (HSBH). 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.
| SAPH | HSBH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.51 | ||
| Sortino ratioReturn per unit of downside risk | -4.55 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.45 | -0.60 |
| Calmar ratioReturn relative to maximum drawdown | -0.69 | 4.26 | -4.95 |
| Martin ratioReturn relative to average drawdown | -1.11 | 15.67 | -16.79 |
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Drawdowns
SAPH vs. HSBH - Drawdown Comparison
The maximum SAPH drawdown since its inception was -51.72%, which is greater than HSBH's maximum drawdown of -14.81%. Use the drawdown chart below to compare losses from any high point for SAPH and HSBH.
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Drawdown Indicators
| SAPH | HSBH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.72% | -14.81% | -36.91% |
Max Drawdown (1Y)Largest decline over 1 year | -47.17% | -14.81% | -32.36% |
Current DrawdownCurrent decline from peak | -39.47% | -1.77% | -37.70% |
Average DrawdownAverage peak-to-trough decline | -23.11% | -2.21% | -20.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 29.05% | 4.09% | +24.96% |
Volatility
SAPH vs. HSBH - Volatility Comparison
ADRhedged SAP ETF (SAPH) has a higher volatility of 15.24% compared to HSBC Holdings plc ADRhedged ETF (HSBH) at 5.60%. This indicates that SAPH's price experiences larger fluctuations and is considered to be riskier than HSBH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SAPH | HSBH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.24% | 5.60% | +9.64% |
Volatility (6M)Calculated over the trailing 6-month period | 33.67% | 19.56% | +14.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.36% | 23.96% | +13.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.48% | 22.61% | +12.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.48% | 22.61% | +12.87% |
SAPH vs. HSBH - Expense Ratio Comparison
Both SAPH and HSBH have an expense ratio of 0.19%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SAPH vs. HSBH - Dividend Comparison
SAPH's dividend yield for the trailing twelve months is around 3.46%, more than HSBH's 2.20% yield.
| Position | TTM |
|---|---|
HSBH HSBC Holdings plc ADRhedged ETF | 2.20% |
SAPH ADRhedged SAP ETF | 3.46% |
Frequently Asked Questions
SAPH and HSBH 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.
SAPH has higher volatility (15.24%) compared to HSBH (5.60%). In terms of maximum drawdown, SAPH dropped -51.72% vs HSBH's -14.81%.
On 1-year performance, HSBH leads with 62.84% vs -32.30% for SAPH. Both ETFs have the same 0.19% expense ratio. On volatility, HSBH has been the lower-risk option at 5.60%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HSBH has performed better with a 62.84% return vs -32.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SAPH and HSBH have the same expense ratio: 0.19% per year.
SAPH has the higher dividend yield at 3.46%, compared with 2.20% for HSBH.
SAPH is categorized as Actively Managed, while HSBH is Financials Equities.
HSBH currently has the higher Sharpe Ratio (2.64 vs -0.87), 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.
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