GJUL vs. HELO

Last updated Jun 4, 2026

GJUL (FT Cboe Vest U.S. Equity Moderate Buffer ETF - July) and HELO (JPMorgan Hedged Equity Laddered Overlay ETF) are both Options Trading funds. Both are actively managed. Over the past year, GJUL returned 15.22% vs 11.08% for HELO. Their correlation of 0.89 suggests significant overlap in exposure. GJUL charges 0.85%/yr vs 0.50%/yr for HELO.

Performance

GJUL vs. HELO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Moderate Buffer ETF - July (GJUL) 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, GJUL achieves a 4.70% return, which is significantly higher than HELO's 2.31% return.

GJUL

• 1D: -0.03%
• 1M: 1.47%
• YTD: 4.70%
• 6M: 5.27%
• 1Y: 15.22%
• 3Y*: —
• 5Y*: —
• 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)

GJUL vs. HELO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
GJUL FT Cboe Vest U.S. Equity Moderate Buffer ETF - July	4.70%	12.72%	14.29%	7.15%
HELO JPMorgan Hedged Equity Laddered Overlay ETF	2.31%	7.82%	18.05%	6.30%

Correlation

The correlation between GJUL and HELO is 0.85, 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	0.85
Correlation (All Time) Calculated using the full available price history since Oct 2, 2023	0.89

The correlation between GJUL and HELO has been stable across timeframes, ranging from 0.85 to 0.89 - a consistent structural relationship.

GJUL vs. HELO - Sectors Allocation Comparison

Sectors	GJUL	HELO
Technology	36.2%	39.8%
Financial Services	11.9%	10.0%
Communication Services	10.9%	10.9%
Consumer Cyclical	10.1%	11.6%
Healthcare	8.4%	8.2%
Industrials	8.1%	6.0%
Consumer Defensive	4.9%	3.5%
Energy	3.5%	3.3%
Utilities	2.3%	2.5%
Real Estate	1.9%	1.8%
Basic Materials	1.8%	1.5%

Return for Risk

GJUL vs. HELO — Risk / Return Rank

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

GJUL

GJUL Risk / Return Rank: 86
GJUL Sharpe Ratio Rank: 84
GJUL Sortino Ratio Rank: 89
GJUL Omega Ratio Rank: 90
GJUL Calmar Ratio Rank: 79
GJUL Martin Ratio Rank: 91

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.

GJUL vs. HELO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Moderate Buffer ETF - July (GJUL) 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.

	GJUL	HELO	Difference
Sharpe ratio: Return per unit of total volatility	2.73	1.79	+0.94
Sortino ratio: Return per unit of downside risk	4.07	2.53	+1.54
Omega ratio: Gain probability vs. loss probability	1.58	1.36	+0.21
Calmar ratio: Return relative to maximum drawdown	4.02	1.93	+2.08
Martin ratio: Return relative to average drawdown	21.57	8.55	+13.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GJUL vs. HELO - Sharpe Ratio Comparison

The current GJUL Sharpe Ratio is 2.73, which is higher than the HELO Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of GJUL 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

	GJUL	HELO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.73	1.79	+0.94
Sharpe Ratio (All Time) Calculated using the full available price history	1.58	1.64	-0.06

Drawdowns

GJUL vs. HELO - Drawdown Comparison

The maximum GJUL drawdown since its inception was -10.68%, roughly equal to the maximum HELO drawdown of -10.89%. Use the drawdown chart below to compare losses from any high point for GJUL and HELO.

Drawdown Indicators

	GJUL	HELO	Difference
Max Drawdown Largest peak-to-trough decline	-10.68%	-10.89%	+0.21%
Max Drawdown (1Y) Largest decline over 1 year	-3.81%	-5.76%	+1.95%
Current Drawdown Current decline from peak	-0.03%	-0.28%	+0.25%
Average Drawdown Average peak-to-trough decline	-0.89%	-1.18%	+0.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.71%	1.30%	-0.59%

Volatility

GJUL vs. HELO - Volatility Comparison

The current volatility for FT Cboe Vest U.S. Equity Moderate Buffer ETF - July (GJUL) is 0.47%, while JPMorgan Hedged Equity Laddered Overlay ETF (HELO) has a volatility of 0.70%. This indicates that GJUL experiences smaller price fluctuations and is considered to be less risky than HELO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GJUL	HELO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.47%	0.70%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	4.07%	4.99%	-0.92%
Volatility (1Y) Calculated over the trailing 1-year period	5.62%	6.21%	-0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.96%	7.96%	0.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.96%	7.96%	0.00%

GJUL vs. HELO - Expense Ratio Comparison

GJUL has a 0.85% expense ratio, which is higher than HELO's 0.50% expense ratio.

Dividends

GJUL vs. HELO - Dividend Comparison

GJUL has not paid dividends to shareholders, while HELO's dividend yield for the trailing twelve months is around 0.62%.

Position	TTM	2025	2024	2023
GJUL FT Cboe Vest U.S. Equity Moderate Buffer ETF - July	0.00%	0.00%	0.00%	0.00%
HELO JPMorgan Hedged Equity Laddered Overlay ETF	0.62%	0.67%	0.60%	0.19%

Frequently Asked Questions

Can I hold both GJUL and HELO in my portfolio?

GJUL and HELO have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GJUL or HELO?

HELO has higher volatility (0.70%) compared to GJUL (0.47%). In terms of maximum drawdown, GJUL dropped -10.68% vs HELO's -10.89%.

Which ETF is better, GJUL or HELO?

On 1-year performance, GJUL leads with 15.22% vs 11.08% for HELO. On fees, HELO is cheaper at 0.50% per year. On volatility, GJUL has been the lower-risk option at 0.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GJUL or HELO?

Over the 1-year period, GJUL has performed better with a 15.22% return vs 11.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GJUL or HELO?

HELO is cheaper with a 0.50% expense ratio, compared with 0.85% for GJUL.

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

HELO has the higher dividend yield at 0.62%, compared with 0.00% for GJUL.

What is the main difference between GJUL and HELO?

They also come from different issuers: FT Vest and JPMorgan. Their fees differ too: 0.85% for GJUL and 0.50% for HELO.

Which has better risk-adjusted returns?

GJUL currently has the higher Sharpe Ratio (2.73 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.