JIRE vs. HELO

Last updated Apr 2, 2026

Compare and contrast key facts about JPMorgan International Research Enhanced Equity ETF (JIRE) and JPMorgan Hedged Equity Laddered Overlay ETF (HELO).

JIRE and HELO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JIRE is an actively managed fund by JPMorgan. It was launched on Oct 28, 1992. HELO is an actively managed fund by JPMorgan. It was launched on Sep 28, 2023.

Performance

JIRE vs. HELO - Performance Comparison

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

JIRE vs. HELO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JIRE JPMorgan International Research Enhanced Equity ETF	2.90%	31.83%	3.15%	10.49%
HELO JPMorgan Hedged Equity Laddered Overlay ETF	-3.37%	7.82%	18.05%	6.30%

Returns By Period

In the year-to-date period, JIRE achieves a 2.90% return, which is significantly higher than HELO's -3.37% return.

JIRE

• 1D: 1.73%
• 1M: -4.68%
• YTD: 2.90%
• 6M: 6.88%
• 1Y: 24.44%
• 3Y*: 15.14%
• 5Y*: —
• 10Y*: —

HELO

• 1D: 0.33%
• 1M: -3.72%
• YTD: -3.37%
• 6M: -1.18%
• 1Y: 7.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JIRE vs. HELO - Expense Ratio Comparison

JIRE has a 0.24% expense ratio, which is lower than HELO's 0.50% expense ratio.

HELO

JPMorgan Hedged Equity Laddered Overlay ETF

JIRE

JPMorgan International Research Enhanced Equity ETF

Return for Risk

JIRE vs. HELO — Risk / Return Rank

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

JIRE

JIRE Risk / Return Rank: 73
JIRE Sharpe Ratio Rank: 74
JIRE Sortino Ratio Rank: 73
JIRE Omega Ratio Rank: 70
JIRE Calmar Ratio Rank: 75
JIRE Martin Ratio Rank: 72

HELO

HELO Risk / Return Rank: 52
HELO Sharpe Ratio Rank: 49
HELO Sortino Ratio Rank: 49
HELO Omega Ratio Rank: 52
HELO Calmar Ratio Rank: 53
HELO Martin Ratio Rank: 55

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.

JIRE vs. HELO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan International Research Enhanced Equity ETF (JIRE) 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.

	JIRE	HELO	Difference
Sharpe ratio Return per unit of total volatility	1.38	0.93	+0.44
Sortino ratio Return per unit of downside risk	1.93	1.39	+0.54
Omega ratio Gain probability vs. loss probability	1.27	1.20	+0.07
Calmar ratio Return relative to maximum drawdown	2.09	1.42	+0.67
Martin ratio Return relative to average drawdown	7.96	5.66	+2.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JIRE vs. HELO - Sharpe Ratio Comparison

The current JIRE Sharpe Ratio is 1.38, which is higher than the HELO Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of JIRE and HELO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	JIRE	HELO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	0.93	+0.44
Sharpe Ratio (All Time) Calculated using the full available price history	1.02	1.40	-0.39

Correlation

The correlation between JIRE and HELO is 0.63, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

JIRE vs. HELO - Dividend Comparison

JIRE's dividend yield for the trailing twelve months is around 2.91%, more than HELO's 0.66% yield.

	TTM	2025	2024	2023	2022
JIRE JPMorgan International Research Enhanced Equity ETF	2.91%	2.99%	3.03%	2.74%	2.62%
HELO JPMorgan Hedged Equity Laddered Overlay ETF	0.66%	0.67%	0.60%	0.19%	0.00%

Drawdowns

JIRE vs. HELO - Drawdown Comparison

The maximum JIRE drawdown since its inception was -16.11%, which is greater than HELO's maximum drawdown of -10.89%. Use the drawdown chart below to compare losses from any high point for JIRE and HELO.

Drawdown Indicators

	JIRE	HELO	Difference
Max Drawdown Largest peak-to-trough decline	-16.11%	-10.89%	-5.22%
Max Drawdown (1Y) Largest decline over 1 year	-11.77%	-5.76%	-6.01%
Current Drawdown Current decline from peak	-6.89%	-4.58%	-2.31%
Average Drawdown Average peak-to-trough decline	-3.01%	-1.22%	-1.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	1.44%	+1.65%

Volatility

JIRE vs. HELO - Volatility Comparison

JPMorgan International Research Enhanced Equity ETF (JIRE) has a higher volatility of 7.59% compared to JPMorgan Hedged Equity Laddered Overlay ETF (HELO) at 2.67%. This indicates that JIRE'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

	JIRE	HELO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.59%	2.67%	+4.92%
Volatility (6M) Calculated over the trailing 6-month period	11.48%	5.39%	+6.09%
Volatility (1Y) Calculated over the trailing 1-year period	17.85%	8.58%	+9.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.16%	8.13%	+8.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.16%	8.13%	+8.03%