JMTG vs. HELO

Last updated Jun 3, 2026

JMTG (JPMorgan Mortgage-Backed Securities ETF) and HELO (JPMorgan Hedged Equity Laddered Overlay ETF) are both exchange-traded funds - JMTG is a Mortgage Backed Securities fund actively managed by JPMorgan, while HELO is a Options Trading fund actively managed by JPMorgan. Both are actively managed. At a 0.22 correlation, their price movements are largely independent. JMTG charges 0.24%/yr vs 0.50%/yr for HELO.

Performance

JMTG vs. HELO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Mortgage-Backed Securities ETF (JMTG) 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, JMTG achieves a 0.51% return, which is significantly lower than HELO's 2.52% return.

JMTG

• 1D: -0.06%
• 1M: -0.29%
• YTD: 0.51%
• 6M: 0.69%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HELO

• 1D: -0.07%
• 1M: 0.73%
• YTD: 2.52%
• 6M: 3.21%
• 1Y: 11.65%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JMTG vs. HELO - Yearly Performance Comparison

	2026 (YTD)	2025
JMTG JPMorgan Mortgage-Backed Securities ETF	0.51%	3.90%
HELO JPMorgan Hedged Equity Laddered Overlay ETF	2.52%	6.56%

Correlation

The correlation between JMTG and HELO is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 1, 2025	0.22

JMTG vs. HELO - Sectors Allocation Comparison

Sectors	JMTG	HELO
Technology	27.4%	39.8%
Financial Services	9.2%	10.0%
Healthcare	6.1%	8.2%
Real Estate	5.3%	1.8%
Communication Services	3.0%	10.9%
Energy	0.4%	3.3%
Consumer Defensive	0.2%	3.5%
Consumer Cyclical	0.1%	11.6%
Industrials	0.1%	6.0%
Basic Materials	0.0%	1.5%
Utilities	-	2.5%

Return for Risk

JMTG vs. HELO — Risk / Return Rank

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

HELO

HELO Risk / Return Rank: 53
HELO Sharpe Ratio Rank: 54
HELO Sortino Ratio Rank: 55
HELO Omega Ratio Rank: 62
HELO Calmar Ratio Rank: 41
HELO Martin Ratio Rank: 52

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.

JMTG vs. HELO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Mortgage-Backed Securities ETF (JMTG) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	JMTG	HELO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.89	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.31	1.65	-0.34

Drawdowns

JMTG vs. HELO - Drawdown Comparison

The maximum JMTG drawdown since its inception was -2.78%, smaller than the maximum HELO drawdown of -10.89%. Use the drawdown chart below to compare losses from any high point for JMTG and HELO.

Drawdown Indicators

	JMTG	HELO	Difference
Max Drawdown Largest peak-to-trough decline	-2.78%	-10.89%	+8.11%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.76%	—
Current Drawdown Current decline from peak	-1.74%	-0.07%	-1.67%
Average Drawdown Average peak-to-trough decline	-0.66%	-1.18%	+0.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.30%	—

Volatility

Volatility by Period

	JMTG	HELO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.66%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.00%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.68%	6.20%	-2.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.68%	7.96%	-4.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.68%	7.96%	-4.28%

JMTG vs. HELO - Expense Ratio Comparison

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

Dividends

JMTG vs. HELO - Dividend Comparison

JMTG's dividend yield for the trailing twelve months is around 3.91%, more than HELO's 0.62% yield.

Position	TTM	2025	2024	2023
HELO JPMorgan Hedged Equity Laddered Overlay ETF	0.62%	0.67%	0.60%	0.19%
JMTG JPMorgan Mortgage-Backed Securities ETF	3.91%	2.10%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JMTG and HELO in my portfolio?

JMTG and HELO have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JMTG or HELO?

On fees, JMTG is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JMTG or HELO?

JMTG is cheaper with a 0.24% expense ratio, compared with 0.50% for HELO.

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

JMTG has the higher dividend yield at 3.91%, compared with 0.62% for HELO.

What is the main difference between JMTG and HELO?

JMTG is categorized as Mortgage Backed Securities, while HELO is Options Trading. Their fees differ too: 0.24% for JMTG and 0.50% for HELO.