JPMorgan Hedged Equity Laddered Overlay ETF
$69.39−0.36 (−0.52%)
History starts Sep 29, 2023.
- Expense ratio
- 0.50%
- Fund size
- $4.8B
- 1Y return
- +7.7%
- Yield · Last 12 months
- 0.62%
- Holdings
- 146
- Volume · 30D
- 0.4M sh
- NAV per share
- $69.70
- 52W range
The ETF.net HELO Grade
Score 70 of 100 sits in the A band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.BScore 63Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 77Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 67Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 66Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 80Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 82Category rank
Our read on HELO
AA 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
- 146
- 41%
- NVDA
Sectors
- Technology39.2%
- Financials11.7%
- Consumer Discr.10.6%
- Communication9.4%
- Health Care9.2%
- Industrials7.6%
- Energy3.4%
- Cons. Staples3.3%
- Utilities2.0%
- Materials1.8%
- Real Estate1.7%
Geography
- United States95.36%
- Ireland2.84%
- Singapore0.64%
- Netherlands0.54%
- United Kingdom0.33%
- Switzerland0.29%
HELO Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
HELO$10,775
Returns run to the Sep 22, 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 | +5.3% |
| 1 month | +0.5% |
| 3 months | +3.2% |
| 1 year | +7.7% |
| 3 years | — |
| 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 | +5.3% | |
| 2025 | +7.8% | |
| 2024 | +18.0% | |
| 2023 | +6.3% |
HELO in the news
HELO Dividends
- 0.62%
- $0.43
- $0.11 per share
- Quarterly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Jun 23, 2026 | Jun 25, 2026 | $0.11 |
| Mar 24, 2026 | Mar 26, 2026 | $0.07 |
| Dec 16, 2025 | Dec 18, 2025 | $0.13 |
| Sep 23, 2025 | Sep 25, 2025 | $0.13 |
| Jun 24, 2025 | Jun 26, 2025 | $0.10 |
| Mar 25, 2025 | Mar 27, 2025 | $0.09 |
| Dec 24, 2024 | Dec 27, 2024 | $0.15 |
| Sep 24, 2024 | Sep 26, 2024 | $0.08 |
| Jun 25, 2024 | Jun 27, 2024 | $0.08 |
| Mar 19, 2024 | Mar 22, 2024 | $0.05 |
| Dec 19, 2023 | Dec 22, 2023 | $0.10 |
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.
- 1.06
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.
- 0.52
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.