JMSI vs. HELO

Last updated Apr 4, 2026

Compare and contrast key facts about J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund (JMSI) and JPMorgan Hedged Equity Laddered Overlay ETF (HELO).

JMSI and HELO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JMSI is an actively managed fund by JPMorgan. It was launched on Feb 9, 1993. HELO is an actively managed fund by JPMorgan. It was launched on Sep 28, 2023.

Performance

JMSI vs. HELO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund (JMSI) and JPMorgan Hedged Equity Laddered Overlay ETF (HELO). The values are adjusted to include any dividend payments, if applicable.

JMSI vs. HELO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JMSI J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund	-0.06%	4.40%	2.77%	6.34%
HELO JPMorgan Hedged Equity Laddered Overlay ETF	-3.36%	7.82%	18.05%	6.30%

Returns By Period

In the year-to-date period, JMSI achieves a -0.06% return, which is significantly higher than HELO's -3.36% return.

JMSI

• 1D: 0.11%
• 1M: -1.09%
• YTD: -0.06%
• 6M: 1.35%
• 1Y: 3.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

HELO

• 1D: 0.02%
• 1M: -3.55%
• YTD: -3.36%
• 6M: -1.20%
• 1Y: 10.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JMSI vs. HELO - Expense Ratio Comparison

JMSI has a 0.18% expense ratio, which is lower than HELO's 0.50% expense ratio.

HELO

JPMorgan Hedged Equity Laddered Overlay ETF

JMSI

J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund

Return for Risk

JMSI vs. HELO — Risk / Return Rank

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

JMSI

JMSI Risk / Return Rank: 48
JMSI Sharpe Ratio Rank: 57
JMSI Sortino Ratio Rank: 49
JMSI Omega Ratio Rank: 59
JMSI Calmar Ratio Rank: 39
JMSI Martin Ratio Rank: 35

HELO

HELO Risk / Return Rank: 44
HELO Sharpe Ratio Rank: 45
HELO Sortino Ratio Rank: 46
HELO Omega Ratio Rank: 47
HELO Calmar Ratio Rank: 40
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.

JMSI vs. HELO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund (JMSI) 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.

	JMSI	HELO	Difference
Sharpe ratio Return per unit of total volatility	1.07	0.89	+0.18
Sortino ratio Return per unit of downside risk	1.41	1.34	+0.07
Omega ratio Gain probability vs. loss probability	1.23	1.20	+0.04
Calmar ratio Return relative to maximum drawdown	1.33	1.39	-0.06
Martin ratio Return relative to average drawdown	4.21	5.44	-1.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JMSI vs. HELO - Sharpe Ratio Comparison

The current JMSI Sharpe Ratio is 1.07, which is comparable to the HELO Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of JMSI 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.

Sharpe Ratios by Period

	JMSI	HELO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.07	0.89	+0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	1.40	-0.44

Correlation

The correlation between JMSI and HELO is 0.15, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

JMSI vs. HELO - Dividend Comparison

JMSI's dividend yield for the trailing twelve months is around 3.68%, more than HELO's 0.66% yield.

	TTM	2025	2024	2023
JMSI J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund	3.68%	3.65%	3.66%	1.79%
HELO JPMorgan Hedged Equity Laddered Overlay ETF	0.66%	0.67%	0.60%	0.19%

Drawdowns

JMSI vs. HELO - Drawdown Comparison

The maximum JMSI drawdown since its inception was -4.57%, smaller than the maximum HELO drawdown of -10.89%. Use the drawdown chart below to compare losses from any high point for JMSI and HELO.

Drawdown Indicators

	JMSI	HELO	Difference
Max Drawdown Largest peak-to-trough decline	-4.57%	-10.89%	+6.32%
Max Drawdown (1Y) Largest decline over 1 year	-2.98%	-5.76%	+2.78%
Current Drawdown Current decline from peak	-1.97%	-4.57%	+2.60%
Average Drawdown Average peak-to-trough decline	-0.89%	-1.22%	+0.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	1.47%	-0.53%

Volatility

JMSI vs. HELO - Volatility Comparison

The current volatility for J P Morgan Exchange-Traded Fund Trust - Sustainable Municipal Income Etf Fund (JMSI) is 1.50%, while JPMorgan Hedged Equity Laddered Overlay ETF (HELO) has a volatility of 2.60%. This indicates that JMSI experiences smaller price fluctuations and is considered to be less risky than HELO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JMSI	HELO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.50%	2.60%	-1.10%
Volatility (6M) Calculated over the trailing 6-month period	2.06%	5.39%	-3.33%
Volatility (1Y) Calculated over the trailing 1-year period	4.01%	8.58%	-4.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.78%	8.12%	-4.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.78%	8.12%	-4.34%