BBAX vs. HELO
BBAX (JPMorgan BetaBuilders Developed Asia ex-Japan ETF) and HELO (JPMorgan Hedged Equity Laddered Overlay ETF) are both exchange-traded funds - BBAX is a Asia Pacific Equities fund tracking the Morningstar Developed Asia Pacific ex-Japan Target Market Exposure Index, while HELO is a Options Trading fund actively managed by JPMorgan. BBAX is passively managed, while HELO is actively managed. Over the past year, BBAX returned 21.39% vs 9.80% for HELO. Their 0.59 correlation means they have sometimes moved together and sometimes differently. BBAX charges 0.19%/yr vs 0.50%/yr for HELO.
Performance
BBAX vs. HELO - Performance Comparison
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Returns By Period
In the year-to-date period, BBAX achieves a 15.03% return, which is significantly higher than HELO's 3.32% return.
BBAX
- 1D
- -1.35%
- 1M
- 6.08%
- 6M
- 7.30%
- YTD
- 15.03%
- 1Y
- 21.39%
- 3Y*
- 13.55%
- 5Y*
- 6.75%
- 10Y*
- —
- ALL TIME*
- 7.20%
HELO
- 1D
- 0.65%
- 1M
- 1.27%
- 6M
- 2.48%
- YTD
- 3.32%
- 1Y
- 9.80%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.14%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $14.49M | $15.50M | $15.90M | |
| $21.21M | $35.58M | $27.77M |
BBAX vs. HELO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF | 15.03% | 20.21% | 2.50% | 11.30% |
HELO JPMorgan Hedged Equity Laddered Overlay ETF | 3.32% | 7.82% | 18.05% | 5.25% |
Correlation
The correlation between BBAX and HELO is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2023 | 0.59 |
The correlation between BBAX and HELO has been stable across timeframes, ranging from 0.59 to 0.64 - a consistent structural relationship.
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Return for Risk
BBAX vs. HELO — Risk / Return Rank
BBAX
HELO
BBAX vs. HELO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX) and JPMorgan Hedged Equity Laddered Overlay ETF (HELO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BBAX | HELO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.25 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 1.54 | +0.81 |
| Martin ratioReturn relative to average drawdown | 6.74 | 6.59 | +0.15 |
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Drawdowns
BBAX vs. HELO - Drawdown Comparison
The maximum BBAX drawdown since its inception was -39.64%, which is greater than HELO's maximum drawdown of -10.89%. Use the drawdown chart below to compare losses from any high point for BBAX and HELO.
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Drawdown Indicators
| BBAX | HELO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.64% | -10.89% | -28.75% |
Max Drawdown (1Y)Largest decline over 1 year | -9.01% | -5.76% | -3.25% |
Max Drawdown (3Y)Largest decline over 3 years | -20.12% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -23.21% | — | — |
Current DrawdownCurrent decline from peak | -1.35% | 0.00% | -1.35% |
Average DrawdownAverage peak-to-trough decline | -7.14% | -1.16% | -5.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.12% | 1.34% | +1.78% |
Volatility
BBAX vs. HELO - Volatility Comparison
JPMorgan BetaBuilders Developed Asia ex-Japan ETF (BBAX) has a higher volatility of 3.97% compared to JPMorgan Hedged Equity Laddered Overlay ETF (HELO) at 2.55%. This indicates that BBAX's price experiences larger fluctuations and is considered to be riskier than HELO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BBAX | HELO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.97% | 2.55% | +1.42% |
Volatility (6M)Calculated over the trailing 6-month period | 12.65% | 5.17% | +7.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.08% | 6.82% | +8.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.39% | 7.97% | +9.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.62% | 7.97% | +11.65% |
BBAX vs. HELO - Expense Ratio Comparison
BBAX has a 0.19% expense ratio, which is lower than HELO's 0.50% expense ratio.
Dividends
BBAX vs. HELO - Dividend Comparison
BBAX's dividend yield for the trailing twelve months is around 3.53%, more than HELO's 0.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BBAX JPMorgan BetaBuilders Developed Asia ex-Japan ETF | 3.53% | 3.86% | 4.13% | 4.17% | 5.06% | 5.47% | 2.57% | 4.07% | 1.36% |
HELO JPMorgan Hedged Equity Laddered Overlay ETF | 0.63% | 0.67% | 0.60% | 0.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
BBAX and HELO have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BBAX has higher volatility (3.97%) compared to HELO (2.55%). In terms of maximum drawdown, BBAX dropped -39.64% vs HELO's -10.89%.
On 1-year performance, BBAX leads with 21.39% vs 9.80% for HELO. On fees, BBAX is cheaper at 0.19% per year. On volatility, HELO has been the lower-risk option at 2.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, BBAX has performed better with a 21.39% return vs 9.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBAX is cheaper with a 0.19% expense ratio, compared with 0.50% for HELO.
BBAX has the higher dividend yield at 3.53%, compared with 0.63% for HELO.
BBAX is categorized as Asia Pacific Equities, while HELO is Options Trading. Their fees differ too: 0.19% for BBAX and 0.50% for HELO.
BBAX currently has the higher Sharpe Ratio (1.40 vs 1.30), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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