JPMorgan Hedged Equity Laddered Overlay ETF
$69.89−0.09 (−0.13%)
- 0.50%
- $4.9B
- +9.5%
- 0.56%
- 0.4M sh
- $69.96
- low $63.24high $70.23
The ETF.net HELO Grade
B
Score 69 out of 100
- 7 of 16
Score 69 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.B63 out of 100Rank 6 of 16Mission
Whether the fund did what it promised, tested against its stated mandate.A75 out of 100Rank 7 of 8Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B68 out of 100Rank 4 of 13Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B61 out of 100Rank 6 of 16Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A80 out of 100Rank 3 of 15Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A82 out of 100Rank 3 of 16
Our read on HELO
BA big-bank take on owning stocks with the airbags in: HELO runs about 150 US large caps and layers a laddered options overlay on top, aiming for S&P 500-style exposure with less of the ride.
Seeks capital appreciation through a diversified U.S. large-cap equity portfolio while using a laddered options overlay to hedge market exposure, reduce downside risk, and seek a portion of broad U.S. large-cap returns with lower volatility.
Why people hold it
- Charges 0.50% a year, under the 0.65% median for active US equity funds and well below hedged-equity peers like HEGD (0.88%) and JHDG (0.81%).
- The hedge is laddered, not a single annual bet: the overlay is spread across staggered option positions rather than resting on one reset date.am.jpmorgan.com
- One of the stronger implementations in a crowded active US large-cap field, and it trades smoothly enough that entering and exiting is rarely the hard part.
- A multi-billion-dollar fund built on a familiar recipe: roughly 150 US large caps, actively picked, benchmarked to the S&P 500, with income paid quarterly.
Worth knowing
- The cushion is not free. The overlay is designed to hand back part of a strong rally in exchange for softening declines, so it seeks a portion of large-cap returns, not all of it.
- Cheap for a hedged strategy, still pricier than plain active core funds in the same cohort such as DFAU (0.12%) and AVLC (0.15%).
- Launched in 2023, so the record is short for a strategy whose whole pitch is how it behaves through a full market cycle.
HELO Holdings
- Stocks
- 145
- 41%
- NVDA
Sectors
- Technology41.2%
- Financials10.9%
- Consumer Discretionary10.1%
- Communication10.0%
- Health Care9.2%
- Industrials6.3%
- Energy3.5%
- Consumer Staples3.4%
- Utilities2.0%
- Materials1.7%
- Real Estate1.6%
Geography
- United States95.20%
- Ireland3.08%
- Singapore0.57%
- Netherlands0.53%
- United Kingdom0.34%
- Switzerland0.28%
HELO Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.
HELO$10,951
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | HELO |
|---|---|
| Year to date | +5.8% |
| 1 month | +1.2% |
| 3 months | +2.5% |
| 1 year | +9.5% |
| 3 years | +12.3% |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | HELO |
|---|---|---|
| 2026 YTD | +5.8% | |
| 2025 | +7.8% | |
| 2024 | +18.0% | |
| 2023 | +6.3% |
HELO in the news
HELO Dividends
- 0.56%
- $0.39
- $0.09 per share
- Quarterly
Distribution history
HELO Risk
- 7.4%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 1.01
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −10.9%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.56
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
HELO Cost
0.50%
HELO0.50%
- The middle half of S&P 500 Active Option Income funds
- Median 0.55%
5 of the 15 S&P 500 Active Option Income funds charge less.
Other funds in S&P 500 Active Option Income
- ASPINState Street US Equity Premium Income ETFExpense ratio 0.25%1 year return +14.8%
- ADIVOAmplify CWP Enhanced Dividend Income ETFExpense ratio 0.56%1 year return +16.6%
- CJUDOJanus Detroit Street Trust - Janus Henderson U.S. Equity Enhanced Income ETFExpense ratio 0.55%1 year return —
- CHIGHSimplify Enhanced Income ETFExpense ratio 0.50%1 year return −1.5%
- CEGGYNestYield Dynamic Income ETFExpense ratio 0.95%1 year return +14.1%