HELO vs. XLRI

Last updated Aug 5, 2026

HELO (JPMorgan Hedged Equity Laddered Overlay ETF) and XLRI (State Street Real Estate Select Sector SPDR Premium Income ETF) are both exchange-traded funds - HELO is a Options Trading fund actively managed by JPMorgan, while XLRI is a Derivative Income fund actively managed by State Street. Both are actively managed. Over the past year, HELO returned 10.81% vs 9.61% for XLRI. Their 0.18 correlation means their historical movements had little consistent relationship. HELO charges 0.50%/yr vs 0.35%/yr for XLRI.

Performance

HELO vs. XLRI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Hedged Equity Laddered Overlay ETF (HELO) and State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HELO achieves a 5.04% return, which is significantly lower than XLRI's 8.24% return.

HELO

• 1D: 0.83%
• 1M: 2.96%
• 6M: 4.31%
• YTD: 5.04%
• 1Y: 10.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.74%

XLRI

• 1D: 0.30%
• 1M: 1.15%
• 6M: 6.94%
• YTD: 8.24%
• 1Y: 9.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.52%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HELO JPMorgan Hedged Equity Laddered Overlay ETF	$21.02M	$35.24M	$27.89M
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	$73.67K	$70.90K	$65.83K

HELO vs. XLRI - Yearly Performance Comparison

	2026 (YTD)	2025
HELO JPMorgan Hedged Equity Laddered Overlay ETF	5.04%	5.18%
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	8.24%	-0.57%

Correlation

The correlation between HELO and XLRI is 0.16, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.16
Correlation (All Time) Calculated using the full available price history since Jul 30, 2025	0.18

Return for Risk

HELO vs. XLRI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HELO

HELO Risk / Return Rank: 58
HELO Sharpe Ratio Rank: 59
HELO Sortino Ratio Rank: 60
HELO Omega Ratio Rank: 64
HELO Calmar Ratio Rank: 47
HELO Martin Ratio Rank: 61

XLRI

XLRI Risk / Return Rank: 33
XLRI Sharpe Ratio Rank: 32
XLRI Sortino Ratio Rank: 29
XLRI Omega Ratio Rank: 30
XLRI Calmar Ratio Rank: 35
XLRI Martin Ratio Rank: 40

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HELO vs. XLRI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Hedged Equity Laddered Overlay ETF (HELO) and State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI). 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.

	HELO	XLRI	Difference
Sharpe ratio: Return per unit of total volatility	1.59	0.88	+0.72
Sortino ratio: Return per unit of downside risk	2.29	1.24	+1.05
Omega ratio: Gain probability vs. loss probability	1.31	1.16	+0.15
Calmar ratio: Return relative to maximum drawdown	1.89	1.36	+0.53
Martin ratio: Return relative to average drawdown	8.09	4.74	+3.36

HELO vs. XLRI - Sharpe Ratio Comparison

The current HELO Sharpe Ratio is 1.59, which is higher than the XLRI Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of HELO and XLRI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HELO vs. XLRI - Drawdown Comparison

The maximum HELO drawdown since its inception was -10.89%, which is greater than XLRI's maximum drawdown of -7.12%. Use the drawdown chart below to compare losses from any high point for HELO and XLRI.

Drawdown Indicators

	HELO	XLRI	Difference
Max Drawdown Largest peak-to-trough decline	-10.89%	-7.12%	-3.77%
Max Drawdown (1Y) Largest decline over 1 year	-5.76%	-7.12%	+1.36%
Current Drawdown Current decline from peak	0.00%	-0.81%	+0.81%
Average Drawdown Average peak-to-trough decline	-1.16%	-1.54%	+0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.34%	2.03%	-0.69%

Volatility

HELO vs. XLRI - Volatility Comparison

The current volatility for JPMorgan Hedged Equity Laddered Overlay ETF (HELO) is 2.70%, while State Street Real Estate Select Sector SPDR Premium Income ETF (XLRI) has a volatility of 3.22%. This indicates that HELO experiences smaller price fluctuations and is considered to be less risky than XLRI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HELO	XLRI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.70%	3.22%	-0.52%
Volatility (6M) Calculated over the trailing 6-month period	5.28%	8.71%	-3.43%
Volatility (1Y) Calculated over the trailing 1-year period	6.85%	11.00%	-4.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.98%	11.08%	-3.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.98%	11.08%	-3.10%

HELO vs. XLRI - Expense Ratio Comparison

HELO has a 0.50% expense ratio, which is higher than XLRI's 0.35% expense ratio.

Dividends

HELO vs. XLRI - Dividend Comparison

HELO's dividend yield for the trailing twelve months is around 0.62%, less than XLRI's 14.33% yield.

Position	TTM	2025	2024	2023
HELO JPMorgan Hedged Equity Laddered Overlay ETF	0.62%	0.67%	0.60%	0.19%
XLRI State Street Real Estate Select Sector SPDR Premium Income ETF	14.33%	6.85%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HELO and XLRI in my portfolio?

HELO and XLRI have a correlation of 0.16, 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 XLRI?

XLRI has higher volatility (3.22%) compared to HELO (2.70%). In terms of maximum drawdown, HELO dropped -10.89% vs XLRI's -7.12%.

Which ETF is better, HELO or XLRI?

On 1-year performance, HELO leads with 10.81% vs 9.61% for XLRI. On fees, XLRI is cheaper at 0.35% per year. On volatility, HELO has been the lower-risk option at 2.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HELO or XLRI?

Over the 1-year period, HELO has performed better with a 10.81% return vs 9.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HELO or XLRI?

XLRI is cheaper with a 0.35% expense ratio, compared with 0.50% for HELO.

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

XLRI has the higher dividend yield at 14.33%, compared with 0.62% for HELO.

What is the main difference between HELO and XLRI?

HELO is categorized as Options Trading, while XLRI is Derivative Income. They also come from different issuers: JPMorgan and State Street. Their fees differ too: 0.50% for HELO and 0.35% for XLRI.

Which has better risk-adjusted returns?

HELO currently has the higher Sharpe Ratio (1.59 vs 0.88), 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.