HALO vs. HELO

Last updated Jun 3, 2026

HALO (Halozyme Therapeutics, Inc.) is a stock, while HELO (JPMorgan Hedged Equity Laddered Overlay ETF) is Options Trading fund actively managed by JPMorgan. Over the past year, HALO returned 19.12% vs 11.65% for HELO. At a 0.28 correlation, their price movements are largely independent.

Performance

HALO vs. HELO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Halozyme Therapeutics, Inc. (HALO) 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, HALO achieves a -1.52% return, which is significantly lower than HELO's 2.52% return.

HALO

• 1D: -2.73%
• 1M: 3.63%
• YTD: -1.52%
• 6M: -0.39%
• 1Y: 19.12%
• 3Y*: 25.45%
• 5Y*: 11.28%
• 10Y*: 21.28%

HELO

• 1D: -0.07%
• 1M: 0.73%
• YTD: 2.52%
• 6M: 3.21%
• 1Y: 11.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HALO vs. HELO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HALO Halozyme Therapeutics, Inc.	-1.52%	40.77%	29.36%	-3.25%
HELO JPMorgan Hedged Equity Laddered Overlay ETF	2.52%	7.82%	18.05%	6.30%

Correlation

The correlation between HALO and HELO is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (All Time) Calculated using the full available price history since Oct 2, 2023	0.28

Return for Risk

HALO vs. HELO — Risk / Return Rank

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

HALO

HALO Risk / Return Rank: 56
HALO Sharpe Ratio Rank: 61
HALO Sortino Ratio Rank: 55
HALO Omega Ratio Rank: 53
HALO Calmar Ratio Rank: 57
HALO Martin Ratio Rank: 55

HELO

HELO Risk / Return Rank: 53
HELO Sharpe Ratio Rank: 54
HELO Sortino Ratio Rank: 55
HELO Omega Ratio Rank: 62
HELO Calmar Ratio Rank: 41
HELO Martin Ratio Rank: 52

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.

HALO vs. HELO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Halozyme Therapeutics, Inc. (HALO) 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.

	HALO	HELO	Difference
Sharpe ratio Return per unit of total volatility	0.64	1.89	-1.24
Sortino ratio Return per unit of downside risk	1.06	2.65	-1.59
Omega ratio Gain probability vs. loss probability	1.13	1.38	-0.25
Calmar ratio Return relative to maximum drawdown	0.75	2.05	-1.30
Martin ratio Return relative to average drawdown	1.45	9.10	-7.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HALO vs. HELO - Sharpe Ratio Comparison

The current HALO Sharpe Ratio is 0.64, which is lower than the HELO Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of HALO 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

	HALO	HELO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.64	1.89	-1.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	1.65	-1.42

Drawdowns

HALO vs. HELO - Drawdown Comparison

The maximum HALO drawdown since its inception was -74.26%, which is greater than HELO's maximum drawdown of -10.89%. Use the drawdown chart below to compare losses from any high point for HALO and HELO.

Drawdown Indicators

	HALO	HELO	Difference
Max Drawdown Largest peak-to-trough decline	-74.26%	-10.89%	-63.37%
Max Drawdown (1Y) Largest decline over 1 year	-24.13%	-5.76%	-18.37%
Max Drawdown (3Y) Largest decline over 3 years	-33.92%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-49.06%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-49.06%	—	—
Current Drawdown Current decline from peak	-18.40%	-0.07%	-18.33%
Average Drawdown Average peak-to-trough decline	-31.91%	-1.18%	-30.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.56%	1.30%	+11.26%

Volatility

HALO vs. HELO - Volatility Comparison

Halozyme Therapeutics, Inc. (HALO) has a higher volatility of 10.41% compared to JPMorgan Hedged Equity Laddered Overlay ETF (HELO) at 0.66%. This indicates that HALO'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

	HALO	HELO	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.41%	0.66%	+9.75%
Volatility (6M) Calculated over the trailing 6-month period	24.18%	5.00%	+19.18%
Volatility (1Y) Calculated over the trailing 1-year period	29.89%	6.20%	+23.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.47%	7.96%	+31.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.89%	7.96%	+34.93%

Dividends

HALO vs. HELO - Dividend Comparison

HALO 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
HALO Halozyme Therapeutics, Inc.	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 HALO and HELO in my portfolio?

HALO and HELO have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HALO or HELO?

HALO has higher volatility (10.41%) compared to HELO (0.66%). In terms of maximum drawdown, HALO dropped -74.26% vs HELO's -10.89%.

Which has better risk-adjusted returns?

HELO currently has the higher Sharpe Ratio (1.89 vs 0.64), 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.