ADRH Report: The Impact of Currency Exposure on Foreign Investments
Foreign currency exposure has significant impacts on US investor returns. ADR investors now have a choice. No longer will they be forced to accept foreign currency exposure if they don’t want it.
Precidian Funds, Announces the Liquidation of AstraZeneca PLC ADRhedgedTM
New York (January 29, 2026) — Precidian Funds today announced that AstraZeneca PLC ADRhedged™ (the “Series”) will liquidate following AstraZeneca PLC’s announcement that it will terminate its American Depositary Receipt (“ADR”) program in connection with the implementation of a harmonized global listing structure and the direct listing of its ordinary shares on the New York Stock Exchange. This change is expected to become effective on or about February 2, 2026. As a result, all outstanding AstraZeneca PLC ADRs will be mandatorily cancelled and converted into ordinary shares on or around that date.
Due to the termination of the ADR program and the resulting inability of the Series to continue operating in accordance with its investment strategy, the Board of Trustees of Precidian ETFs Trust (the “Trust”) has approved a plan of dissolution (the “Plan of Dissolution”) for the Series.
Effective the evening of January 29, 2026, the Series ceased accepting creation and redemption orders. The Series will no longer engage in normal investment operations and will thereafter engage solely in activities necessary to wind up its affairs and complete an orderly liquidation.
Upon the mandatory cancellation of the AstraZeneca PLC ADRs, the Series is expected to receive AstraZeneca PLC ordinary shares on February 2, 2026, which the Series anticipates liquidating shortly thereafter. The Series expects to make a final cash distribution to shareholders on or about February 17, 2026, subject to the completion of all necessary administrative and operational processes.
The Series’ shares will cease trading on NYSE Arca at the close of business on January 29, 2026.
If you have questions or need assistance, please contact your financial advisor directly or the Series toll-free at 844-954-5333.
Why invest using ADRHs?
Global Diversification is important
Savvy investors are well aware of the benefits of global investing. One of the primary ways that Americans invest beyond their borders is through American Depositary Receipts (ADRs). ADRs are a 100-year-old financial innovation that provide a simple way for investors to access shares of global blue-chip companies like Toyota Motor.
Embedded currency hedge mitigates exchange rate risk
What many American investors may not realize is that even though ADRs (i.e., Toyota Motor) trade in US Dollars, they come with an additional risk – fluctuations in foreign currency (i.e., Yen). For example, the Toyota Motor ADR provides investors with exposure to: (1) the performance of the Toyota Motor shares on the Nikkei Stock Exchange; PLUS (2) the performance of the Yen (vs. the US Dollar). Providing a currency hedge mitigates investors exchange rate risk.
Cost-effective and easy to access for all investors
Until now, currency hedging programs have, by and large, only been accessible to sophisticated institutional investors. ADRHs are exchanged-traded and as such can be bought or sold like any other exchange traded security. Therefore, ADRHs give all investors simple and cost-effective access to the world’s largest companies while mitigating exchange rate risk.
Global expansion of a proven investment
The currency-hedge for ADRhedgedTM Securities (ADRH) is provided by CIBC. In 2021, Canadian Imperial Bank of Commerce (CIBC) pioneered currency-hedged Canadian Depositary Receipts (CDRs). Investor adoption has been strong and there are over 60 CDRs listed in Canada with more than $50billion in assets traded since their creation.
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