Hi there,
I might be able to help you here. There are a few different factors in play across these 3 products:
- CRPU is an accumulating ETF while CRPH and CRHG are distributing meaning CRPU will retain and reinvest any income so if the yield is e.g. 2.5%, over a year, all else being equal, this product will be up 2.5% compared to the others. With CRPH and CRHG, you'll get that 2.5% as income.
- They're hedged products so the return will be different depending on how the currency performs. E.g. if you buy the GBP version CRHG, you're basically making a bet on Sterling as well as the ability of the companies to pay their coupons. Sterling is about 3% lower than the Euro compared to the start of the year so that's why CRHG has performed worse than CRPH. Hedging won't mitigate all the currency swings.
- The cost and timing of the hedging will impact on the return as well as you've said.
I hope that information helps!
All the best.