JFLI vs. HELO

Last updated Jun 26, 2026

JFLI (JPMorgan Flexible Income ETF) and HELO (JPMorgan Hedged Equity Laddered Overlay ETF) are both exchange-traded funds - JFLI is a Global Allocation fund actively managed by JPMorgan, while HELO is a Options Trading fund actively managed by JPMorgan. Both are actively managed. Over the past year, JFLI returned 18.06% vs 8.36% for HELO. Their correlation of 0.83 suggests significant overlap in exposure. JFLI charges 0.35%/yr vs 0.50%/yr for HELO.

Performance

JFLI vs. HELO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Flexible Income ETF (JFLI) 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, JFLI achieves a 9.12% return, which is significantly higher than HELO's 1.19% return.

JFLI

• 1D: 0.57%
• 1M: 0.21%
• YTD: 9.12%
• 6M: 8.76%
• 1Y: 18.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HELO

• 1D: -0.21%
• 1M: -1.08%
• YTD: 1.19%
• 6M: 0.25%
• 1Y: 8.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JFLI vs. HELO - Yearly Performance Comparison

	2026 (YTD)	2025
JFLI JPMorgan Flexible Income ETF	9.12%	9.73%
HELO JPMorgan Hedged Equity Laddered Overlay ETF	1.19%	6.35%

Correlation

The correlation between JFLI and HELO is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (All Time) Calculated using the full available price history since Feb 13, 2025	0.83

The correlation between JFLI and HELO has been stable across timeframes, ranging from 0.80 to 0.83 - a consistent structural relationship.

Return for Risk

JFLI vs. HELO — Risk / Return Rank

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

JFLI

JFLI Risk / Return Rank: 71
JFLI Sharpe Ratio Rank: 70
JFLI Sortino Ratio Rank: 70
JFLI Omega Ratio Rank: 74
JFLI Calmar Ratio Rank: 63
JFLI Martin Ratio Rank: 76

HELO

HELO Risk / Return Rank: 41
HELO Sharpe Ratio Rank: 42
HELO Sortino Ratio Rank: 41
HELO Omega Ratio Rank: 45
HELO Calmar Ratio Rank: 32
HELO Martin Ratio Rank: 44

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.

JFLI vs. HELO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Flexible Income ETF (JFLI) 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.

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.

	JFLI	HELO	Difference
Sharpe ratio: Return per unit of total volatility	1.98	1.32	+0.66
Sortino ratio: Return per unit of downside risk	2.77	1.87	+0.90
Omega ratio: Gain probability vs. loss probability	1.38	1.26	+0.12
Calmar ratio: Return relative to maximum drawdown	2.72	1.46	+1.26
Martin ratio: Return relative to average drawdown	12.65	6.35	+6.30

JFLI vs. HELO - Sharpe Ratio Comparison

The current JFLI Sharpe Ratio is 1.98, which is higher than the HELO Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of JFLI 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.

Drawdowns

JFLI vs. HELO - Drawdown Comparison

The maximum JFLI drawdown since its inception was -12.87%, which is greater than HELO's maximum drawdown of -10.89%. Use the drawdown chart below to compare losses from any high point for JFLI and HELO.

Drawdown Indicators

	JFLI	HELO	Difference
Max Drawdown Largest peak-to-trough decline	-12.87%	-10.89%	-1.98%
Max Drawdown (1Y) Largest decline over 1 year	-6.67%	-5.76%	-0.91%
Current Drawdown Current decline from peak	-1.31%	-1.37%	+0.06%
Average Drawdown Average peak-to-trough decline	-1.43%	-1.18%	-0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.43%	1.32%	+0.11%

Volatility

JFLI vs. HELO - Volatility Comparison

JPMorgan Flexible Income ETF (JFLI) has a higher volatility of 4.15% compared to JPMorgan Hedged Equity Laddered Overlay ETF (HELO) at 1.79%. This indicates that JFLI'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

	JFLI	HELO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.15%	1.79%	+2.36%
Volatility (6M) Calculated over the trailing 6-month period	7.82%	5.00%	+2.82%
Volatility (1Y) Calculated over the trailing 1-year period	9.16%	6.37%	+2.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.11%	7.96%	+4.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.11%	7.96%	+4.15%

JFLI vs. HELO - Expense Ratio Comparison

JFLI has a 0.35% expense ratio, which is lower than HELO's 0.50% expense ratio.

Dividends

JFLI vs. HELO - Dividend Comparison

JFLI's dividend yield for the trailing twelve months is around 7.25%, more than HELO's 0.64% yield.

Position	TTM	2025	2024	2023
HELO JPMorgan Hedged Equity Laddered Overlay ETF	0.64%	0.67%	0.60%	0.19%
JFLI JPMorgan Flexible Income ETF	7.25%	6.81%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JFLI and HELO in my portfolio?

JFLI and HELO have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JFLI or HELO?

JFLI has higher volatility (4.15%) compared to HELO (1.79%). In terms of maximum drawdown, JFLI dropped -12.87% vs HELO's -10.89%.

Which ETF is better, JFLI or HELO?

On 1-year performance, JFLI leads with 18.06% vs 8.36% for HELO. On fees, JFLI is cheaper at 0.35% per year. On volatility, HELO has been the lower-risk option at 1.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JFLI or HELO?

Over the 1-year period, JFLI has performed better with a 18.06% return vs 8.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JFLI or HELO?

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

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

JFLI has the higher dividend yield at 7.25%, compared with 0.64% for HELO.

What is the main difference between JFLI and HELO?

JFLI is categorized as Global Allocation, while HELO is Options Trading. Their fees differ too: 0.35% for JFLI and 0.50% for HELO.

Which has better risk-adjusted returns?

JFLI currently has the higher Sharpe Ratio (1.98 vs 1.32), 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.