At a glance
GSKH charges 0.19% a year. It has $737K in assets; it paid 2.89% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +18.9% with distributions reinvested (S&P 500: +11.5%).
The short version
GSK plc ADRhedged (GSKH) is a Precidian Investments fund that holds just one stock: the American Depositary Receipts (ADRs, US-traded receipts for foreign shares) of London-based drugmaker GSK plc, plus a currency swap that hedges the British pound against the dollar. The goal is to match GSK's total return in its home market, before fees, while muting the currency swings that come with owning the ADR directly. It costs 0.19% a year.
Price history
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GSKH +18.9% 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 | |
|---|---|---|---|---|---|---|
| GSKH price data to Oct 27, 2026 | +7.4% | +18.9% | — | — | — | +24.3% |
- Over the year to Oct 27, 2026, GSKH returned +18.9%.
- The deepest fall in its price history was 21.1% (Feb 18, 2026 to Oct 13, 2026), not yet recovered.
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +7.4% |
| 2025 | +38.0% |
| 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) | $1.2900 | |
| 2025 | $0.7900 |
What's inside
As of Jun 30, 2026, the fund held 1 securities; the ten largest made up 96.79% of assets, and 2.57% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| GSK PLC | 96.79% |
By country
United Kingdom 96.79%By asset type
Stocks 96.79%What changed recently
- Over the three months to Jun 30, 2026, investors added a net $0.00 (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -7.98%, -1.77%, +5.05%.
How it works
GSKH doesn't follow an index. Under normal conditions it invests at least 95% of net assets in GSK plc's ADRs, holding any remainder in cash or money market funds. It doesn't invest in GSK's ordinary shares directly. As of June 30, 2026, the GSK sponsored ADR was 96.79% of assets and cash was 2.57%. Portfolio turnover was 0%.
An ADR trades in dollars, but its price still moves with the British pound because GSK's underlying shares are priced in pounds. To offset that, the fund holds a currency swap, a contract with a bank (Canadian Imperial Bank of Commerce as of June 30, 2026). The swap's size is reset daily to match the value of the ADRs, and gains or losses are settled in cash each day. When the pound weakens, the swap gains and the bank pays the fund. When the pound strengthens, the fund pays the bank and may trim its ADRs to raise cash. As a result, the amount of ADR behind each GSKH share varies and can shrink over the fund's life.
The hedge aims to minimize currency effects, not eliminate them, and if the bank fails to pay, the fund could lose money. Because the fund is non-diversified and holds one company, GSK's results drive nearly all of its return.
What it really costs
- GSKH 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 |
|---|---|---|---|---|
| GSKH | $19 | $61 | $107 | $243 |
In a retirement portfolio
It holds just one company, and its one-year volatility of 26.5% as of October 27, 2026 points to a small side position, not a portfolio's foundation.
Launched January 7, 2025, GSKH has no record from the 2008 financial crisis, the 2020 COVID crash or the 2022 bear market. Its deepest drop was 21.1%, from February 18 to October 13, 2026, and it had not recovered as of October 27, 2026. Drawing cash during that slide would mean selling at lower prices, and a single stock can fall further and stay down longer than a broad fund. Its beta of -0.05 for the year to October 27 shows little link to market swings, though one year is a short sample.
Income is paid twice a year; the trailing 12-month yield was 2.89% as of October 27, 2026. The 0.19% expense ratio comes to $19 in the first year and $243 over 10 years on $10,000, per the SEC's example. Past results don't predict future ones; a plan should weigh the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting GSK plc shares with pound-dollar swings largely hedged through a daily-settled swap with Canadian Imperial Bank of Commerce, for a 0.19% expense ratio.
- Income seekers comfortable with one drugmaker: the trailing 12-month yield was 2.89% as of October 27, 2026, paid twice a year.
- Diversified investors seeking a small GSK position; its one-year beta was -0.05 as of October 27, 2026, showing little link to broad market moves.
Look elsewhere if
- Anyone wanting diversification: 96.8% sat in GSK ADRs (US-traded receipts for foreign shares) as of June 30, 2026, exposing it to patent expirations.
- Retirees needing stable values: one-year volatility, a gauge of price swings, was 26.5%; a 21.1% fall from February 18, 2026, was unrecovered by October 27.
- Those wary of young, small funds: launched January 7, 2025, it had very small net assets as of June 30, 2026, and no long-term record.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
No close alternatives found.
Questions investors ask
What does GSKH invest in?
GSKH invests almost entirely in one stock: the sponsored American Depositary Receipts of GSK plc, a London-headquartered maker of vaccines and prescription and over-the-counter medicines. As of June 30, 2026, the ADRs were 96.79% of assets and cash was 2.57%. The fund also holds a currency swap with Canadian Imperial Bank of Commerce that is designed to offset moves in the British pound against the dollar. It doesn't track an index; it aims to match GSK's total return in its home market, before fees.
What's the difference between GSKH and GSK stock?
The main difference is the currency hedge. The GSK ticker is the regular ADR, whose dollar price reflects both GSK's London shares and the pound's moves against the dollar. GSKH holds that ADR plus a currency swap, reset daily, designed to minimize the pound's effect, so it aims to track GSK's local-market return. GSKH also charges a 0.19% expense ratio. When the pound strengthens, GSKH gives up that currency gain; when the pound weakens, the hedge cushions the currency hit.
Does GSKH pay dividends?
Yes. GSKH pays income twice a year. Payouts over the 12 months to October 27, 2026 totaled $2.08 per share, a trailing yield of 2.89%. Because the fund holds only GSK's ADRs, its income depends on one company's dividend decisions. Twice-yearly payments also arrive less often than those from monthly or quarterly payers, which matters for anyone budgeting around fund income. Past payouts don't guarantee future ones.
Is GSKH good for retirement?
GSKH may fit as a small side position rather than a core retirement holding. It owns one company, and its price swings sharply: one-year volatility was 26.5% as of October 27, 2026. It returned 37.99% in 2025 and 18.9% over the year to October 27, 2026, but its deepest drop, 21.1% from February 18 to October 13, 2026, had not recovered by October 27. It launched in January 2025, so it has no record through past bear markets. Past results don't predict future ones.
How is GSKH taxed?
GSKH intends to be treated as a grantor trust for US federal income tax purposes, which works differently from most ETFs. If that treatment is respected, the fund itself owes no federal income tax; instead, a proportional share of its income, gains, losses and deductions flows through to each shareholder. The prospectus lists this as a tax risk because the treatment isn't guaranteed. A tax professional can explain how it applies to a particular situation.