SAPH vs. USFI

Last updated Jul 10, 2026

SAPH (ADRhedged SAP ETF) and USFI (BrandywineGLOBAL - U.S. Fixed Income ETF) are both Actively Managed funds. Both are actively managed. Over the past year, SAPH returned -45.84% vs 4.92% for USFI. At a 0.10 correlation, their price movements are largely independent. SAPH charges 0.19%/yr vs 0.39%/yr for USFI.

Performance

SAPH vs. USFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ADRhedged SAP ETF (SAPH) and BrandywineGLOBAL - U.S. Fixed Income ETF (USFI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SAPH achieves a -30.91% return, which is significantly lower than USFI's 1.17% return.

SAPH

• 1D: 0.63%
• 1M: -10.17%
• 6M: -31.03%
• YTD: -30.91%
• 1Y: -45.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

USFI

• 1D: 0.20%
• 1M: 0.14%
• 6M: 1.09%
• YTD: 1.17%
• 1Y: 4.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SAPH vs. USFI - Yearly Performance Comparison

	2026 (YTD)	2025
SAPH ADRhedged SAP ETF	-30.91%	-13.65%
USFI BrandywineGLOBAL - U.S. Fixed Income ETF	1.17%	7.07%

Correlation

The correlation between SAPH and USFI is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (All Time) Calculated using the full available price history since Jan 7, 2025	0.10

Return for Risk

SAPH vs. USFI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SAPH

SAPH Risk / Return Rank: 1
SAPH Sharpe Ratio Rank: 0
SAPH Sortino Ratio Rank: 1
SAPH Omega Ratio Rank: 0
SAPH Calmar Ratio Rank: 1
SAPH Martin Ratio Rank: 1

USFI

USFI Risk / Return Rank: 68
USFI Sharpe Ratio Rank: 55
USFI Sortino Ratio Rank: 65
USFI Omega Ratio Rank: 57
USFI Calmar Ratio Rank: 91
USFI Martin Ratio Rank: 75

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SAPH vs. USFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ADRhedged SAP ETF (SAPH) and BrandywineGLOBAL - U.S. Fixed Income ETF (USFI). 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	USFI	Difference
Sharpe ratio: Return per unit of total volatility	-1.32	1.50	-2.81
Sortino ratio: Return per unit of downside risk	-1.97	2.40	-4.37
Omega ratio: Gain probability vs. loss probability	0.75	1.28	-0.54
Calmar ratio: Return relative to maximum drawdown	-0.94	4.62	-5.56
Martin ratio: Return relative to average drawdown	-1.54	11.07	-12.61

SAPH vs. USFI - Sharpe Ratio Comparison

The current SAPH Sharpe Ratio is -1.32, which is lower than the USFI Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of SAPH and USFI, 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

SAPH vs. USFI - Drawdown Comparison

The maximum SAPH drawdown since its inception was -51.14%, which is greater than USFI's maximum drawdown of -8.47%. Use the drawdown chart below to compare losses from any high point for SAPH and USFI.

Drawdown Indicators

	SAPH	USFI	Difference
Max Drawdown Largest peak-to-trough decline	-51.14%	-8.47%	-42.67%
Max Drawdown (1Y) Largest decline over 1 year	-48.85%	-1.07%	-47.78%
Current Drawdown Current decline from peak	-48.20%	-0.39%	-47.81%
Average Drawdown Average peak-to-trough decline	-22.21%	-2.09%	-20.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.92%	0.45%	+29.47%

Volatility

SAPH vs. USFI - Volatility Comparison

ADRhedged SAP ETF (SAPH) has a higher volatility of 11.82% compared to BrandywineGLOBAL - U.S. Fixed Income ETF (USFI) at 0.90%. This indicates that SAPH's price experiences larger fluctuations and is considered to be riskier than USFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SAPH	USFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.82%	0.90%	+10.92%
Volatility (6M) Calculated over the trailing 6-month period	31.54%	1.61%	+29.93%
Volatility (1Y) Calculated over the trailing 1-year period	34.95%	3.36%	+31.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.14%	6.91%	+27.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.14%	6.91%	+27.23%

SAPH vs. USFI - Expense Ratio Comparison

SAPH has a 0.19% expense ratio, which is lower than USFI's 0.39% expense ratio.

Dividends

SAPH vs. USFI - Dividend Comparison

SAPH's dividend yield for the trailing twelve months is around 4.04%, less than USFI's 4.43% yield.

Position	TTM	2025	2024	2023
SAPH ADRhedged SAP ETF	4.04%	0.00%	0.00%	0.00%
USFI BrandywineGLOBAL - U.S. Fixed Income ETF	4.43%	4.42%	4.60%	1.83%

Frequently Asked Questions

Can I hold both SAPH and USFI in my portfolio?

SAPH and USFI have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SAPH or USFI?

SAPH has higher volatility (11.82%) compared to USFI (0.90%). In terms of maximum drawdown, SAPH dropped -51.14% vs USFI's -8.47%.

Which ETF is better, SAPH or USFI?

On 1-year performance, USFI leads with 4.92% vs -45.84% for SAPH. On fees, SAPH is cheaper at 0.19% per year. On volatility, USFI has been the lower-risk option at 0.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SAPH or USFI?

Over the 1-year period, USFI has performed better with a 4.92% return vs -45.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SAPH or USFI?

SAPH is cheaper with a 0.19% expense ratio, compared with 0.39% for USFI.

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

USFI has the higher dividend yield at 4.43%, compared with 4.04% for SAPH.

What is the main difference between SAPH and USFI?

They also come from different issuers: ADRhedged and BrandywineGLOBAL. Their fees differ too: 0.19% for SAPH and 0.39% for USFI.

Which has better risk-adjusted returns?

USFI currently has the higher Sharpe Ratio (1.50 vs -1.32), 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.