BBUS vs. HELO

Last updated Jun 4, 2026

BBUS (JP Morgan Betabuilders U.S. Equity ETF) and HELO (JPMorgan Hedged Equity Laddered Overlay ETF) are both exchange-traded funds - BBUS is a Large Cap Growth Equities fund tracking the Morningstar US Target Market Exposure Index, while HELO is a Options Trading fund actively managed by JPMorgan. BBUS is passively managed, while HELO is actively managed. Over the past year, BBUS returned 27.47% vs 11.08% for HELO. Their correlation of 0.92 suggests significant overlap in exposure. BBUS charges 0.02%/yr vs 0.50%/yr for HELO.

Performance

BBUS vs. HELO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JP Morgan Betabuilders U.S. Equity ETF (BBUS) and JPMorgan Hedged Equity Laddered Overlay ETF (HELO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BBUS achieves a 10.60% return, which is significantly higher than HELO's 2.31% return.

BBUS

• 1D: -0.74%
• 1M: 5.12%
• YTD: 10.60%
• 6M: 10.47%
• 1Y: 27.47%
• 3Y*: 22.46%
• 5Y*: 13.43%
• 10Y*: —

HELO

• 1D: -0.21%
• 1M: 0.59%
• YTD: 2.31%
• 6M: 2.92%
• 1Y: 11.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BBUS vs. HELO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BBUS JP Morgan Betabuilders U.S. Equity ETF	10.60%	17.77%	24.89%	11.96%
HELO JPMorgan Hedged Equity Laddered Overlay ETF	2.31%	7.82%	18.05%	6.30%

Correlation

The correlation between BBUS and HELO is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (All Time) Calculated using the full available price history since Oct 2, 2023	0.92

The correlation between BBUS and HELO has been stable across timeframes, ranging from 0.92 to 0.92 - a consistent structural relationship.

BBUS vs. HELO - Sectors Allocation Comparison

Sectors	BBUS	HELO
Technology	37.1%	39.8%
Financial Services	10.8%	10.0%
Communication Services	10.8%	10.9%
Consumer Cyclical	9.4%	11.6%
Healthcare	8.1%	8.2%
Industrials	7.2%	6.0%
Consumer Defensive	4.5%	3.5%
Energy	3.2%	3.3%
Utilities	2.6%	2.5%
Real Estate	1.7%	1.8%
Basic Materials	1.2%	1.5%

Return for Risk

BBUS vs. HELO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BBUS

BBUS Risk / Return Rank: 68
BBUS Sharpe Ratio Rank: 70
BBUS Sortino Ratio Rank: 68
BBUS Omega Ratio Rank: 68
BBUS Calmar Ratio Rank: 60
BBUS Martin Ratio Rank: 72

HELO

HELO Risk / Return Rank: 50
HELO Sharpe Ratio Rank: 51
HELO Sortino Ratio Rank: 51
HELO Omega Ratio Rank: 58
HELO Calmar Ratio Rank: 38
HELO Martin Ratio Rank: 50

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BBUS vs. HELO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JP Morgan Betabuilders U.S. Equity ETF (BBUS) 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.

	BBUS	HELO	Difference
Sharpe ratio: Return per unit of total volatility	2.33	1.79	+0.53
Sortino ratio: Return per unit of downside risk	3.18	2.53	+0.65
Omega ratio: Gain probability vs. loss probability	1.42	1.36	+0.06
Calmar ratio: Return relative to maximum drawdown	3.00	1.93	+1.06
Martin ratio: Return relative to average drawdown	13.76	8.55	+5.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BBUS vs. HELO - Sharpe Ratio Comparison

The current BBUS Sharpe Ratio is 2.33, which is comparable to the HELO Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of BBUS and HELO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BBUS	HELO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.33	1.79	+0.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	1.64	-0.80

Drawdowns

BBUS vs. HELO - Drawdown Comparison

The maximum BBUS drawdown since its inception was -35.35%, which is greater than HELO's maximum drawdown of -10.89%. Use the drawdown chart below to compare losses from any high point for BBUS and HELO.

Drawdown Indicators

	BBUS	HELO	Difference
Max Drawdown Largest peak-to-trough decline	-35.35%	-10.89%	-24.46%
Max Drawdown (1Y) Largest decline over 1 year	-9.21%	-5.76%	-3.45%
Max Drawdown (3Y) Largest decline over 3 years	-19.01%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.46%	—	—
Current Drawdown Current decline from peak	-0.74%	-0.28%	-0.46%
Average Drawdown Average peak-to-trough decline	-5.46%	-1.18%	-4.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	1.30%	+0.70%

Volatility

BBUS vs. HELO - Volatility Comparison

JP Morgan Betabuilders U.S. Equity ETF (BBUS) has a higher volatility of 2.88% compared to JPMorgan Hedged Equity Laddered Overlay ETF (HELO) at 0.70%. This indicates that BBUS'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.

Volatility by Period

	BBUS	HELO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.88%	0.70%	+2.18%
Volatility (6M) Calculated over the trailing 6-month period	8.96%	4.99%	+3.97%
Volatility (1Y) Calculated over the trailing 1-year period	11.87%	6.21%	+5.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.03%	7.96%	+9.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.59%	7.96%	+11.63%

BBUS vs. HELO - Expense Ratio Comparison

BBUS has a 0.02% expense ratio, which is lower than HELO's 0.50% expense ratio.

Dividends

BBUS vs. HELO - Dividend Comparison

BBUS's dividend yield for the trailing twelve months is around 0.98%, more than HELO's 0.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BBUS JP Morgan Betabuilders U.S. Equity ETF	0.98%	1.07%	1.21%	1.38%	1.57%	1.11%	1.43%	1.37%
HELO JPMorgan Hedged Equity Laddered Overlay ETF	0.62%	0.67%	0.60%	0.19%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BBUS and HELO in my portfolio?

With a correlation of 0.92, BBUS and HELO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BBUS or HELO?

BBUS has higher volatility (2.88%) compared to HELO (0.70%). In terms of maximum drawdown, BBUS dropped -35.35% vs HELO's -10.89%.

Which ETF is better, BBUS or HELO?

On 1-year performance, BBUS leads with 27.47% vs 11.08% for HELO. On fees, BBUS is cheaper at 0.02% per year. On volatility, HELO has been the lower-risk option at 0.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BBUS or HELO?

Over the 1-year period, BBUS has performed better with a 27.47% return vs 11.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BBUS or HELO?

BBUS is cheaper with a 0.02% expense ratio, compared with 0.50% for HELO.

Which ETF pays a higher dividend yield, BBUS or HELO?

BBUS has the higher dividend yield at 0.98%, compared with 0.62% for HELO.

What is the main difference between BBUS and HELO?

BBUS is categorized as Large Cap Growth Equities, while HELO is Options Trading. Their fees differ too: 0.02% for BBUS and 0.50% for HELO.

Which has better risk-adjusted returns?

BBUS currently has the higher Sharpe Ratio (2.33 vs 1.79), 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.