Precidian ETFs Trust SAP SE ADRhedged

The fund seeks to provide investment results that closely correspond, before fees and expenses, to the total return of SAP SE’s ordinary shares in its local market. It primarily invests at least 95% of its net assets in American Depositary Receipts (ADRs) of SAP SE and employs a currency swap to hedge against exchange rate fluctuations between the U.S. dollar and the euro. The fund is non-diversified.