At a glance
ARMH charges 0.19% a year. It has $7.5M in assets; it paid 1.62% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +29.5% with distributions reinvested (S&P 500: +11.5%).
The short version
Arm Holdings PLC ADRhedged (ARMH) is a Precidian Investments fund that holds just one stock, Arm Holdings, through American Depositary Receipts (ADRs, US-traded receipts for foreign shares), plus a daily-adjusted currency swap against the British pound. It aims to deliver Arm's home-market return without pound-dollar swings, at a 0.19% annual expense ratio. Owning one company makes it highly volatile: it fell 51.9% from June 18 to October 22, 2026.
Price history
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ARMH +29.5% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| ARMH price data to Oct 27, 2026 | +110.0% | +29.5% | — | — | — | +48.7% |
- Over the year to Oct 27, 2026, ARMH returned +29.5%.
- The deepest fall in its price history was 51.9% (Jun 18, 2026 to Oct 22, 2026), not yet recovered.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +110.0% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.0340 |
What's inside
As of Jun 30, 2026, the fund held 1 securities; the ten largest made up 97.49% of assets, and 2.7% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| ARM HOLDINGS PLC | 97.49% |
By country
United Kingdom 97.49%By asset type
Stocks 97.49%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $3.0M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +34.88%, +68.33%, +2.36%.
How it works
ARMH does not track an index. Under normal conditions it invests at least 95% of net assets in American Depositary Receipts (ADRs) of Arm Holdings PLC, not Arm's ordinary shares. ADRs are receipts issued by a US bank or trust company that represent a foreign company's shares and trade in dollars on US exchanges. The rest sits in cash or cash equivalents. As of June 30, 2026, the ADRs were 97.5% of net assets.
Dollar-priced ADRs still move with the pound-dollar exchange rate, so the fund adds a currency swap against the British pound, a contract with a bank (Canadian Imperial Bank of Commerce as of June 30, 2026). The swap's size resets daily to match the ADRs' value, and it settles in cash each day. When the swap gains, the bank pays the fund; when it loses, the fund pays, and the manager may liquidate ADRs to cover it. Over time, those sales shrink the fraction of an ADR behind each fund share. If the bank failed to pay, the fund could lose money.
Because it holds one company, the fund is non-diversified. For US federal taxes it intends to be treated as a grantor trust, so its income, gains and losses flow through to shareholders; the prospectus warns this treatment may not be respected.
What it really costs
- ARMH charges 0.19% a year.
- Of that, 0.17% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $19 in the first year and $243 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| ARMH | $19 | $61 | $107 | $243 |
In a retirement portfolio
It holds a single semiconductor-design company and has swung sharply in its short life, so it could fit only as a small position beside diversified holdings.
ARMH could add a currency-hedged stake in Arm Holdings to a portfolio, but not diversification. It launched March 14, 2025, so it has no record through the 2008, 2020 or 2022 downturns. Its short history is already volatile: it fell 51.9% from June 18 to October 22, 2026, and had not recovered by October 27, even though it was up 110% for 2026 through that date. Anyone forced to cash out shares in a slump like that would lock in deep losses.
It paid $0.157 per share over the 12 months to October 27, 2026, a 1.62% yield, in semiannual payments, so it is a weak source of steady income. The expense ratio is 0.19% a year, or $19 in year one on $10,000 under the SEC's standard example. Past results don't predict the future, and a retirement plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want Arm Holdings' home-market return without pound-dollar exchange-rate swings, using ADRs paired with a daily-reset currency swap.
- People with a diversified core who can keep a single-stock holding small and sit through drops like the 51.9% fall from June to October 2026.
- Cost-conscious investors: the 0.19% expense ratio works out to $19 in year one on $10,000 under the SEC's standard example.
Look elsewhere if
- Anyone wanting diversification: Arm ADRs made up 97.5% of net assets as of June 30, 2026, with the rest mostly cash.
- Retirees who may need to cash out in a slump: one-year volatility, a gauge of price swings, was about 76% as of October 27, 2026.
- Those seeking a long track record or steady income: it launched March 14, 2025, and its trailing yield was 1.62% as of October 27, 2026.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
No close alternatives found.
Questions investors ask
What's the difference between ARMH and ARM stock?
The main difference is the currency hedge. ARM is the Arm Holdings ADR itself. ARMH is a fund that holds those ADRs (97.5% of net assets as of June 30, 2026) plus a daily-reset currency swap against the British pound. The swap aims to give holders Arm's home-market return without pound-dollar swings. In exchange, ARMH charges a 0.19% annual expense ratio. It also carries the risk that the bank on the other side of the swap fails to pay.
Does ARMH pay dividends?
Yes. ARMH pays distributions twice a year. It paid $0.157 per share over the 12 months to October 27, 2026, a trailing yield of 1.62%. For US federal tax purposes, the fund intends to be treated as a grantor trust. That means a proportional share of its income, gains, losses and deductions flows through to each shareholder, and the fund itself pays no federal income tax. The prospectus lists a tax risk because this depends on that treatment being respected.
Is ARMH good for retirement?
For most retirement portfolios, ARMH could play only a small, higher-risk role. It holds one company, so it is non-diversified and exposed to semiconductor-industry risks such as intense competition and potentially rapid product obsolescence. Its one-year volatility was about 76% as of October 27, 2026, and the fund fell 51.9% from June 18 to October 22, 2026. It launched March 14, 2025, so it has no record in the 2008, 2020 or 2022 downturns.
How has ARMH performed?
Returns have been large and uneven. As of October 27, 2026, ARMH had returned 29.5% over one year and 7.8% over six months, and was up 110% for 2026 through that date. But it lost 26.8% over the prior month and 14.7% over three months. It launched March 14, 2025, and had no full calendar-year record by that date, so its long-term behavior is untested.
What is ARMH's expense ratio?
ARMH's expense ratio is 0.19% a year, which includes a 0.17% management fee, according to the prospectus filed April 29, 2026. The SEC's standard example assumes $10,000 invested, a 5% annual return and all shares cashed out at the end of each period. On that basis, total costs would be about $19 after one year, $61 after three, $107 after five and $243 after ten. The fund is small, with about $7.5 million in net assets as of June 30, 2026.