HELO vs. JPIE

Last updated Jun 5, 2026

HELO (JPMorgan Hedged Equity Laddered Overlay ETF) and JPIE (JPMorgan Income ETF) are both exchange-traded funds - HELO is a Options Trading fund actively managed by JPMorgan, while JPIE is a Multisector Bonds fund actively managed by JPMorgan. Both are actively managed. Over the past year, HELO returned 10.94% vs 5.83% for JPIE. At a 0.29 correlation, their price movements are largely independent. HELO charges 0.50%/yr vs 0.40%/yr for JPIE.

Performance

HELO vs. JPIE - Performance Comparison

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

Returns By Period

In the year-to-date period, HELO achieves a 2.26% return, which is significantly higher than JPIE's 1.51% return.

HELO

• 1D: -0.04%
• 1M: 0.46%
• YTD: 2.26%
• 6M: 2.72%
• 1Y: 10.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JPIE

• 1D: 0.09%
• 1M: 0.39%
• YTD: 1.51%
• 6M: 1.98%
• 1Y: 5.83%
• 3Y*: 6.55%
• 5Y*: —
• 10Y*: —

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

HELO vs. JPIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HELO JPMorgan Hedged Equity Laddered Overlay ETF	2.26%	7.82%	18.05%	6.30%
JPIE JPMorgan Income ETF	1.51%	7.39%	6.32%	4.94%

Correlation

The correlation between HELO and JPIE is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (All Time) Calculated using the full available price history since Oct 2, 2023	0.29

Return for Risk

HELO vs. JPIE — Risk / Return Rank

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

HELO

HELO Risk / Return Rank: 51
HELO Sharpe Ratio Rank: 53
HELO Sortino Ratio Rank: 52
HELO Omega Ratio Rank: 59
HELO Calmar Ratio Rank: 39
HELO Martin Ratio Rank: 51

JPIE

JPIE Risk / Return Rank: 94
JPIE Sharpe Ratio Rank: 94
JPIE Sortino Ratio Rank: 96
JPIE Omega Ratio Rank: 96
JPIE Calmar Ratio Rank: 88
JPIE Martin Ratio Rank: 93

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.

HELO vs. JPIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Hedged Equity Laddered Overlay ETF (HELO) and JPMorgan Income ETF (JPIE). 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.

	HELO	JPIE	Difference
Sharpe ratio: Return per unit of total volatility	1.77	3.69	-1.92
Sortino ratio: Return per unit of downside risk	2.50	5.80	-3.30
Omega ratio: Gain probability vs. loss probability	1.36	1.83	-0.47
Calmar ratio: Return relative to maximum drawdown	1.91	5.10	-3.19
Martin ratio: Return relative to average drawdown	8.44	25.31	-16.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HELO vs. JPIE - Sharpe Ratio Comparison

The current HELO Sharpe Ratio is 1.77, which is lower than the JPIE Sharpe Ratio of 3.69. The chart below compares the historical Sharpe Ratios of HELO and JPIE, 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

	HELO	JPIE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	3.69	-1.92
Sharpe Ratio (All Time) Calculated using the full available price history	1.63	0.99	+0.65

Drawdowns

HELO vs. JPIE - Drawdown Comparison

The maximum HELO drawdown since its inception was -10.89%, which is greater than JPIE's maximum drawdown of -9.96%. Use the drawdown chart below to compare losses from any high point for HELO and JPIE.

Drawdown Indicators

	HELO	JPIE	Difference
Max Drawdown Largest peak-to-trough decline	-10.89%	-9.96%	-0.93%
Max Drawdown (1Y) Largest decline over 1 year	-5.76%	-1.15%	-4.61%
Max Drawdown (3Y) Largest decline over 3 years	—	-2.40%	—
Current Drawdown Current decline from peak	-0.32%	-0.04%	-0.28%
Average Drawdown Average peak-to-trough decline	-1.18%	-2.09%	+0.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.30%	0.23%	+1.07%

Volatility

HELO vs. JPIE - Volatility Comparison

JPMorgan Hedged Equity Laddered Overlay ETF (HELO) has a higher volatility of 0.70% compared to JPMorgan Income ETF (JPIE) at 0.61%. This indicates that HELO's price experiences larger fluctuations and is considered to be riskier than JPIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HELO	JPIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.70%	0.61%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	4.99%	1.28%	+3.71%
Volatility (1Y) Calculated over the trailing 1-year period	6.20%	1.59%	+4.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.95%	3.52%	+4.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.95%	3.52%	+4.43%

HELO vs. JPIE - Expense Ratio Comparison

HELO has a 0.50% expense ratio, which is higher than JPIE's 0.40% expense ratio.

Dividends

HELO vs. JPIE - Dividend Comparison

HELO's dividend yield for the trailing twelve months is around 0.62%, less than JPIE's 5.62% yield.

Position	TTM	2025	2024	2023	2022	2021
HELO JPMorgan Hedged Equity Laddered Overlay ETF	0.62%	0.67%	0.60%	0.19%	0.00%	0.00%
JPIE JPMorgan Income ETF	5.62%	5.65%	6.11%	5.70%	4.49%	0.63%

Frequently Asked Questions

Can I hold both HELO and JPIE in my portfolio?

HELO and JPIE have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HELO or JPIE?

HELO has higher volatility (0.70%) compared to JPIE (0.61%). In terms of maximum drawdown, HELO dropped -10.89% vs JPIE's -9.96%.

Which ETF is better, HELO or JPIE?

On 1-year performance, HELO leads with 10.94% vs 5.83% for JPIE. On fees, JPIE is cheaper at 0.40% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HELO or JPIE?

Over the 1-year period, HELO has performed better with a 10.94% return vs 5.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HELO or JPIE?

JPIE is cheaper with a 0.40% expense ratio, compared with 0.50% for HELO.

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

JPIE has the higher dividend yield at 5.62%, compared with 0.62% for HELO.

What is the main difference between HELO and JPIE?

HELO is categorized as Options Trading, while JPIE is Multisector Bonds. Their fees differ too: 0.50% for HELO and 0.40% for JPIE.

Which has better risk-adjusted returns?

JPIE currently has the higher Sharpe Ratio (3.69 vs 1.77), 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.