At a glance
ASMH charges 0.19% a year. It has $6.8M in assets; it paid 2.07% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +63.9% with distributions reinvested (S&P 500: +11.5%).
The short version
ASML Holding NV ADRhedged (ASMH), from Precidian Investments, holds one stock: U.S.-traded receipts (ADRs) for Dutch chip-equipment maker ASML, plus a currency swap. The swap is meant to cancel out the euro-dollar swings that move the plain ADR, so the fund aims to track ASML's total return in its home Amsterdam market. It charges 0.19% a year and held just $6.8 million as of June 30, 2026.
Price history
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ASMH +63.9% 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 | |
|---|---|---|---|---|---|---|
| ASMH price data to Oct 27, 2026 | +62.9% | +63.9% | — | — | — | +67.2% |
- Over the year to Oct 27, 2026, ASMH returned +63.9%.
- The deepest fall in its price history was 21.5% (Jun 30, 2026 to Jul 29, 2026), not yet recovered.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +62.9% |
| 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) | $0.2250 |
What's inside
As of Jun 30, 2026, the fund held 1 securities; the ten largest made up 97.12% of assets, and 2.96% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| ASML HOLDING NV | 97.12% |
By country
Netherlands 97.12%By asset type
Stocks 97.12%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $2.4M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +7.23%, +12.55%, +25.31%.
How it works
ASMH does not track an index. It aims to match the total return of ASML Holding NV's ordinary shares on Euronext Amsterdam, their home market, before fees. It normally puts at least 95% of net assets into ASML's American Depositary Receipts (ADRs). These are receipts issued by a U.S. bank for a foreign company's shares, and they trade in dollars. As of June 30, 2026, the ADR was 97.12% of assets, with 2.96% in cash. As a non-diversified fund, it holds just one company.
The distinctive part is the currency hedge. A dollar-priced ADR still moves with the euro, because the shares underneath trade in euros. To offset that, the fund holds a currency swap with Canadian Imperial Bank of Commerce (as of June 30, 2026). The swap's size resets daily to match the ADRs' value, and gains or losses settle in cash each day. If the euro weakens against the dollar, the bank pays the fund. If the euro strengthens, the fund pays the bank and gives up that currency gain.
To make those payments, the manager may sell ADRs. That means the fraction of an ADR behind each fund share can shrink over time. If the bank fails to pay, the fund could lose money. For U.S. federal taxes, the fund intends to be treated as a grantor trust, so its income, gains and losses pass through to shareholders.
What it really costs
- ASMH 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 |
|---|---|---|---|---|
| ASMH | $19 | $61 | $107 | $243 |
In a retirement portfolio
It holds a single semiconductor-equipment company's shares, with 45.6% one-year volatility as of October 27, 2026, so it may fit as a small add-on rather than a foundation.
ASMH could add focused exposure to ASML, which makes advanced equipment for chipmakers, without day-to-day euro-dollar swings. Its record is short. It launched on March 13, 2025, so it has no history through the 2008 financial crisis, the 2020 COVID crash or the 2022 bear market, and no full calendar-year record. Its deepest drop was 21.5%, from June 30 to July 29, 2026, and it had not regained that peak as of October 27, 2026. Anyone forced to sell shares or draw income during a slide like that would lock in losses. Its one-year volatility of 45.6% shows how sharply it can swing.
It yielded 2.07% over the 12 months to October 27, 2026, paid quarterly, and costs 0.19% a year. 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 ASML's home-market return without euro-dollar currency swings, at 0.19% a year, or $19 in the SEC's $10,000 one-year example.
- Investors wanting a small satellite stake in chip equipment who can handle 45.6% one-year volatility (to October 27, 2026) and sharp falls.
- Investors already set on owning ASML who want a fund to run a daily euro-dollar hedge rather than arranging one themselves.
Look elsewhere if
- Anyone wanting diversification: ASML's ADR made up 97.12% of assets as of June 30, 2026, with the rest mostly cash.
- Those who want euro exposure or no fund fee; the plain ASML ADR keeps currency gains (and losses) that this fund's hedge removes.
- Those wanting a large, long-tested fund: ASMH launched March 13, 2025, held $6.8 million at June 30, 2026, and has no full calendar-year record.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
No close alternatives found.
Questions investors ask
What does ADRhedged mean for ASMH?
It means the fund owns ASML's American Depositary Receipts, which are U.S.-traded receipts for the Dutch company's shares, and hedges out the currency. ASML's shares trade in euros in Amsterdam, so the ADR's dollar price moves with both the stock and the euro-dollar rate. ASMH adds a currency swap, reset and settled daily, so it aims to match ASML's total return in its local market, before fees. The prospectus notes the hedge may not remove currency effects entirely.
What's the difference between ASMH and ASML stock?
The main difference is currency. ASML's U.S.-listed ADR made up 97.12% of ASMH as of June 30, 2026. The ADR gets a lift when the euro rises against the dollar and a drag when it falls. ASMH hedges that out and aims for ASML's local-market return instead. In exchange, it charges 0.19% a year, holds some cash (2.96% at that date) and relies on its swap bank, Canadian Imperial Bank of Commerce, to make payments. Owning the ADR directly carries no fund fee.
Does ASMH pay dividends?
Yes. ASMH pays distributions quarterly. Over the 12 months to October 27, 2026, it paid $0.239 per share, a yield of 2.07% based on those payments. Amounts can vary from one payment to the next. For U.S. federal taxes, the fund intends to be treated as a grantor trust. That means shareholders report their share of its income, gains and losses directly, rather than the fund paying tax itself. The prospectus lists this as a tax risk.
What is the ASMH expense ratio?
ASMH's expense ratio, the yearly fee taken out of fund assets, is 0.19%. That includes a 0.17% management fee, according to its prospectus filed April 29, 2026. The SEC's standard example assumes $10,000 invested, a 5% annual return and shares sold at the end of each period. On that basis, total costs would be about $19 after one year, $61 after three years, $107 after five and $243 after ten. The prospectus reports 0% portfolio turnover.
Is ASMH a risky investment?
Yes, it is a high-risk fund. It holds one company in one industry, and the prospectus flags concentration, semiconductor and currency-swap risks. Its volatility, a gauge of price swings, was 45.6% over the year to October 27, 2026. It fell 21.5% from June 30 to July 29, 2026, and had not regained that peak by October 27. Gains were large too: 63.9% over that year. In a retirement portfolio, it may fit a small satellite role rather than a core one. Past returns don't predict future ones.