DIVO vs HELO

DIVOAAmplify CWP Enhanced Dividend Income ETF

HELOAJPMorgan Hedged Equity Laddered Overlay ETF

In short

DIVO A hand-picked book of roughly 30 blue-chip dividend payers, with covered calls written tactically on individual names instead of blanketed over an index. Two income engines, paid monthly, running since 2016.

HELO A 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.

Stated mandate

DIVO Seeks a high level of risk-adjusted total return through current income and capital appreciation. It primarily uses U.S. dividend-paying equities and tactically writes covered calls on portfolio holdings for additional income.

HELO 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

• DIVO Fee of 0.56% a year sits well below the typical options-income fund, and the same tactical covered-call playbook has been running since 2016.
• Calls are written selectively on chosen holdings rather than automatically across the whole portfolio, so names left uncovered keep their room to run.amplifyetfs.com
• Income arrives monthly, sourced from stock dividends plus option premium rather than premium alone.
• Actively traded and multi-billion in size, which tends to keep the spread you pay on the way in and out modest.

• HELO 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.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

• DIVO Every call sold hands back part of a big move up in that stock. That capped upside is the price of the extra income.amplifyetfs.com
• About 30 holdings means each name carries real weight, so a single stumble shows up more than it would in a broad index fund.
• Cheaper options-income peers exist (PAPI at 0.29%, TCAL at 0.34%), though they run different selection and overlay rules.

• HELO 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.

Full DIVO profile⁠

Full HELO profile⁠