SHEH vs. SAPH

Last updated Jul 31, 2026

SHEH (Shell plc ADRhedged ETF) and SAPH (ADRhedged SAP ETF) are both exchange-traded funds - SHEH is a Energy Equities fund tracking the Shell plc - Benchmark Price Return, while SAPH is a Actively Managed fund actively managed by ADRhedged. SHEH is passively managed, while SAPH is actively managed. Over the past year, SHEH returned 26.77% vs -35.90% for SAPH. Their -0.10 correlation means they have often moved in opposite directions in the past. Both charge a 0.19% expense ratio.

Performance

SHEH vs. SAPH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Shell plc ADRhedged ETF (SHEH) 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, SHEH achieves a 23.96% return, which is significantly higher than SAPH's -21.87% return.

SHEH

• 1D: 1.36%
• 1M: 14.38%
• 6M: 20.66%
• YTD: 23.96%
• 1Y: 26.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 30.11%

SAPH

• 1D: -3.22%
• 1M: 15.89%
• 6M: -3.53%
• YTD: -21.87%
• 1Y: -35.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -22.33%

*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)
SAPH ADRhedged SAP ETF	$30.78K	$28.87K	$22.76K
SHEH Shell plc ADRhedged ETF	$661.16K	$578.81K	$296.23K

SHEH vs. SAPH - Yearly Performance Comparison

	2026 (YTD)	2025
SHEH Shell plc ADRhedged ETF	23.96%	12.63%
SAPH ADRhedged SAP ETF	-21.87%	-4.75%

Correlation

The correlation between SHEH and SAPH is -0.07, 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.	-0.07
Correlation (All Time) Calculated using the full available price history since Apr 23, 2025	-0.10

Return for Risk

SHEH vs. SAPH — Risk / Return Rank

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

SHEH

SHEH Risk / Return Rank: 48
SHEH Sharpe Ratio Rank: 54
SHEH Sortino Ratio Rank: 51
SHEH Omega Ratio Rank: 50
SHEH Calmar Ratio Rank: 44
SHEH Martin Ratio Rank: 40

SAPH

SAPH Risk / Return Rank: 2
SAPH Sharpe Ratio Rank: 2
SAPH Sortino Ratio Rank: 2
SAPH Omega Ratio Rank: 2
SAPH Calmar Ratio Rank: 3
SAPH Martin Ratio Rank: 3

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.

SHEH vs. SAPH - Risk-Adjusted Trends Comparison

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

	SHEH	SAPH	Difference
Sharpe ratio: Return per unit of total volatility	1.29	-0.96	+2.25
Sortino ratio: Return per unit of downside risk	1.80	-1.33	+3.14
Omega ratio: Gain probability vs. loss probability	1.23	0.83	+0.39
Calmar ratio: Return relative to maximum drawdown	1.53	-0.77	+2.30
Martin ratio: Return relative to average drawdown	4.19	-1.24	+5.43

SHEH vs. SAPH - Sharpe Ratio Comparison

The current SHEH Sharpe Ratio is 1.29, which is higher than the SAPH Sharpe Ratio of -0.96. The chart below compares the historical Sharpe Ratios of SHEH 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

SHEH vs. SAPH - Drawdown Comparison

The maximum SHEH drawdown since its inception was -17.53%, smaller than the maximum SAPH drawdown of -51.72%. Use the drawdown chart below to compare losses from any high point for SHEH and SAPH.

Drawdown Indicators

	SHEH	SAPH	Difference
Max Drawdown Largest peak-to-trough decline	-17.53%	-51.72%	+34.19%
Max Drawdown (1Y) Largest decline over 1 year	-17.53%	-47.02%	+29.49%
Current Drawdown Current decline from peak	-4.43%	-41.42%	+36.99%
Average Drawdown Average peak-to-trough decline	-4.14%	-23.15%	+19.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.41%	29.13%	-22.72%

Volatility

SHEH vs. SAPH - Volatility Comparison

The current volatility for Shell plc ADRhedged ETF (SHEH) is 6.97%, while ADRhedged SAP ETF (SAPH) has a volatility of 15.75%. This indicates that SHEH 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

	SHEH	SAPH	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.97%	15.75%	-8.78%
Volatility (6M) Calculated over the trailing 6-month period	17.35%	33.78%	-16.43%
Volatility (1Y) Calculated over the trailing 1-year period	20.94%	37.42%	-16.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.54%	35.53%	-14.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.54%	35.53%	-14.99%

SHEH vs. SAPH - Expense Ratio Comparison

Both SHEH and SAPH 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

SHEH vs. SAPH - Dividend Comparison

SHEH's dividend yield for the trailing twelve months is around 1.87%, less than SAPH's 3.57% yield.

Position	TTM
SAPH ADRhedged SAP ETF	3.57%
SHEH Shell plc ADRhedged ETF	1.87%

Frequently Asked Questions

Can I hold both SHEH and SAPH in my portfolio?

SHEH and SAPH have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SHEH or SAPH?

SAPH has higher volatility (15.75%) compared to SHEH (6.97%). In terms of maximum drawdown, SHEH dropped -17.53% vs SAPH's -51.72%.

Which ETF is better, SHEH or SAPH?

On 1-year performance, SHEH leads with 26.77% vs -35.90% for SAPH. Both ETFs have the same 0.19% expense ratio. On volatility, SHEH has been the lower-risk option at 6.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SHEH or SAPH?

Over the 1-year period, SHEH has performed better with a 26.77% return vs -35.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SHEH or SAPH?

SHEH and SAPH have the same expense ratio: 0.19% per year.

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

SAPH has the higher dividend yield at 3.57%, compared with 1.87% for SHEH.

What is the main difference between SHEH and SAPH?

SHEH is categorized as Energy Equities, while SAPH is Actively Managed.

Which has better risk-adjusted returns?

SHEH currently has the higher Sharpe Ratio (1.29 vs -0.96), 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.