HOLA vs. HECO

Last updated Aug 2, 2026

HOLA (JPMorgan International Hedged Equity Laddered Overlay ETF) and HECO (State Street Galaxy Hedged Digital Asset Ecosystem ETF) are both exchange-traded funds - HOLA is a Equity Hedged fund actively managed by JPMorgan, while HECO is a Blockchain fund actively managed by State Street. Both are actively managed. Over the past year, HOLA returned 17.66% vs 94.69% for HECO. Their 0.52 correlation means they have sometimes moved together and sometimes differently. HOLA charges 0.50%/yr vs 0.90%/yr for HECO.

Performance

HOLA vs. HECO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan International Hedged Equity Laddered Overlay ETF (HOLA) and State Street Galaxy Hedged Digital Asset Ecosystem ETF (HECO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HOLA achieves a 7.29% return, which is significantly lower than HECO's 61.32% return.

HOLA

• 1D: -0.36%
• 1M: 1.19%
• 6M: 3.35%
• YTD: 7.29%
• 1Y: 17.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.71%

HECO

• 1D: -1.72%
• 1M: -2.15%
• 6M: 43.52%
• YTD: 61.32%
• 1Y: 94.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 66.82%

*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)
HECO State Street Galaxy Hedged Digital Asset Ecosystem ETF	$85.91K	$53.80K	$462.34K
HOLA JPMorgan International Hedged Equity Laddered Overlay ETF	$762.47K	$628.26K	$1.14M

HOLA vs. HECO - Yearly Performance Comparison

	2026 (YTD)	2025
HOLA JPMorgan International Hedged Equity Laddered Overlay ETF	7.29%	7.60%
HECO State Street Galaxy Hedged Digital Asset Ecosystem ETF	61.32%	19.39%

Correlation

The correlation between HOLA and HECO is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.53
Correlation (All Time) Calculated using the full available price history since Jul 14, 2025	0.52

The correlation between HOLA and HECO has been stable across timeframes, ranging from 0.52 to 0.53 - a consistent structural relationship.

HOLA vs. HECO - Sectors Allocation Comparison

Sectors	HOLA	HECO
Financial Services	25.7%	51.5%
Industrials	18.2%	4.4%
Technology	14.4%	44.1%
Healthcare	9.8%	-
Consumer Cyclical	8.1%	-
Consumer Defensive	6.6%	-
Basic Materials	5.1%	1.8%
Utilities	4.3%	-
Communication Services	4.0%	-
Energy	3.0%	-
Real Estate	0.9%	-

Return for Risk

HOLA vs. HECO — Risk / Return Rank

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

HOLA

HOLA Risk / Return Rank: 73
HOLA Sharpe Ratio Rank: 75
HOLA Sortino Ratio Rank: 77
HOLA Omega Ratio Rank: 73
HOLA Calmar Ratio Rank: 71
HOLA Martin Ratio Rank: 69

HECO

HECO Risk / Return Rank: 85
HECO Sharpe Ratio Rank: 88
HECO Sortino Ratio Rank: 84
HECO Omega Ratio Rank: 80
HECO Calmar Ratio Rank: 91
HECO Martin Ratio Rank: 83

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.

HOLA vs. HECO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan International Hedged Equity Laddered Overlay ETF (HOLA) and State Street Galaxy Hedged Digital Asset Ecosystem ETF (HECO). 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.

	HOLA	HECO	Difference
Sharpe ratio: Return per unit of total volatility	1.71	2.14	-0.42
Sortino ratio: Return per unit of downside risk	2.50	2.76	-0.26
Omega ratio: Gain probability vs. loss probability	1.31	1.34	-0.03
Calmar ratio: Return relative to maximum drawdown	2.48	4.10	-1.62
Martin ratio: Return relative to average drawdown	8.40	11.32	-2.93

HOLA vs. HECO - Sharpe Ratio Comparison

The current HOLA Sharpe Ratio is 1.71, which is comparable to the HECO Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of HOLA and HECO, 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

HOLA vs. HECO - Drawdown Comparison

The maximum HOLA drawdown since its inception was -6.99%, smaller than the maximum HECO drawdown of -44.59%. Use the drawdown chart below to compare losses from any high point for HOLA and HECO.

Drawdown Indicators

	HOLA	HECO	Difference
Max Drawdown Largest peak-to-trough decline	-6.99%	-44.59%	+37.60%
Max Drawdown (1Y) Largest decline over 1 year	-6.99%	-21.03%	+14.04%
Current Drawdown Current decline from peak	-0.36%	-7.93%	+7.57%
Average Drawdown Average peak-to-trough decline	-1.40%	-11.20%	+9.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	7.61%	-5.55%

Volatility

HOLA vs. HECO - Volatility Comparison

The current volatility for JPMorgan International Hedged Equity Laddered Overlay ETF (HOLA) is 3.65%, while State Street Galaxy Hedged Digital Asset Ecosystem ETF (HECO) has a volatility of 17.46%. This indicates that HOLA experiences smaller price fluctuations and is considered to be less risky than HECO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HOLA	HECO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.65%	17.46%	-13.81%
Volatility (6M) Calculated over the trailing 6-month period	8.38%	31.65%	-23.27%
Volatility (1Y) Calculated over the trailing 1-year period	10.13%	40.39%	-30.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.15%	45.29%	-35.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.15%	45.29%	-35.14%

HOLA vs. HECO - Expense Ratio Comparison

HOLA has a 0.50% expense ratio, which is lower than HECO's 0.90% expense ratio.

Dividends

HOLA vs. HECO - Dividend Comparison

HOLA's dividend yield for the trailing twelve months is around 2.82%, while HECO has not paid dividends to shareholders.

Position	TTM	2025	2024
HECO State Street Galaxy Hedged Digital Asset Ecosystem ETF	0.00%	0.00%	2.61%
HOLA JPMorgan International Hedged Equity Laddered Overlay ETF	2.82%	3.02%	0.00%

Frequently Asked Questions

Can I hold both HOLA and HECO in my portfolio?

HOLA and HECO have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HOLA or HECO?

HECO has higher volatility (17.46%) compared to HOLA (3.65%). In terms of maximum drawdown, HOLA dropped -6.99% vs HECO's -44.59%.

Which ETF is better, HOLA or HECO?

On 1-year performance, HECO leads with 94.69% vs 17.66% for HOLA. On fees, HOLA is cheaper at 0.50% per year. On volatility, HOLA has been the lower-risk option at 3.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HOLA or HECO?

Over the 1-year period, HECO has performed better with a 94.69% return vs 17.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HOLA or HECO?

HOLA is cheaper with a 0.50% expense ratio, compared with 0.90% for HECO.

Which ETF pays a higher dividend yield, HOLA or HECO?

HOLA has the higher dividend yield at 2.82%, compared with 0.00% for HECO.

What is the main difference between HOLA and HECO?

HOLA is categorized as Equity Hedged, while HECO is Blockchain. They also come from different issuers: JPMorgan and State Street. Their fees differ too: 0.50% for HOLA and 0.90% for HECO.

Which has better risk-adjusted returns?

HECO currently has the higher Sharpe Ratio (2.14 vs 1.71), 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.