SAP SE ADRhedged (SAPH) Performance
SAPH total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +4.9% since Dec 31, 2025
- 1 year
- −8.9% total return
- Since first price
- −8.5% since 2025
SAPH trailing returns vs SPY, QQQ, AGG
| Period | SAPH total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +14.3% | +14.3% | −1.0% | −5.0% | +0.9% |
| 3 months | +63.0% | +63.0% | +3.2% | +1.9% | −0.4% |
| 6 months | +53.0% | +48.3% | +7.8% | +8.4% | −1.5% |
| YTD | +4.9% | +1.1% | +12.3% | +15.1% | −1.0% |
| 1 year | −8.9% | −12.3% | +14.4% | +15.9% | −1.1% |
| Since inceptionJan 7, 2025 | −8.5% | −11.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: SAPH vs SPY
From Jan 7, 2025: SAPH grew to $9,150, SPY to $13,164.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
SAPH returns by calendar year
2026 is year to date.
SAPH annual returns table
| Year | SAPH | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +4.9% | −37.6% | +12.3% | +15.1% | −1.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
SAPH largest drawdowns
Now 21.1% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 14, 2025 | −51.6% | Jul 23, 2026 | not yet | 1.4 years | 1.7 years so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
SAPH risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | −17.6% |
| Volatility (annualized) | 31.4% |
| Sharpe ratio | -0.58 |
| Sortino ratio | -0.81 |
| Best month | +19.1% |
| Worst month | −17.2% |
| Best 12 months | −15.7% |
| Worst 12 months | −45.6% |
| Positive months | 30% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
SAPH rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 10 | −45.6% | −34.3% | −3.5% | 0% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
SAPH performance overview
SAP SE ADRhedged (SAPH) returned −8.9% over the past year, with distributions reinvested. Since its first recorded price on Jan 7, 2025 it has returned −8.5%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −51.6%, from Feb 14, 2025 to Jul 23, 2026; the fund has not yet regained that high. Volatility has been 31.4% a year.
Related: SAPH chart, SAPH dividends. See the SAPH overview for the latest quote and fund facts.
SAPH performance FAQ
What is the SAPH return over the past year?
SAPH returned −8.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 12.3%.
How much would $10,000 invested in SAPH be worth?
$10,000 invested in SAPH at its first recorded close on January 7, 2025 would be worth about $9,150 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of SAPH?
The largest peak-to-trough decline was −51.6% between February 14, 2025 and July 23, 2026. It has not yet recovered to that high; it is 21.1% below its peak.
How volatile is SAPH?
Over the past history SAPH had an annualized volatility of 31.4% and a Sharpe ratio of -0.58 (excess return over 1–3 month T-bills per unit of risk).