MAYW vs. HELO

Last updated Jun 4, 2026

MAYW (AllianzIM U.S. Large Cap Buffer20 May ETF) and HELO (JPMorgan Hedged Equity Laddered Overlay ETF) are both Options Trading funds. Both are actively managed. Over the past year, MAYW returned 9.70% vs 11.08% for HELO. A 0.79 correlation means they provide meaningful diversification when combined. MAYW charges 0.74%/yr vs 0.50%/yr for HELO.

Performance

MAYW vs. HELO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Large Cap Buffer20 May ETF (MAYW) 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, MAYW achieves a 3.65% return, which is significantly higher than HELO's 2.31% return.

MAYW

• 1D: -0.23%
• 1M: 1.61%
• YTD: 3.65%
• 6M: 4.37%
• 1Y: 9.70%
• 3Y*: 10.99%
• 5Y*: —
• 10Y*: —

HELO

• 1D: -0.21%
• 1M: 0.59%
• YTD: 2.31%
• 6M: 2.92%
• 1Y: 11.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MAYW vs. HELO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MAYW AllianzIM U.S. Large Cap Buffer20 May ETF	3.65%	10.24%	12.08%	5.66%
HELO JPMorgan Hedged Equity Laddered Overlay ETF	2.31%	7.82%	18.05%	6.30%

Correlation

The correlation between MAYW and HELO is 0.76, 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	0.76
Correlation (All Time) Calculated using the full available price history since Oct 2, 2023	0.79

The correlation between MAYW and HELO has been stable across timeframes, ranging from 0.76 to 0.79 - a consistent structural relationship.

MAYW vs. HELO - Sectors Allocation Comparison

Sectors	MAYW	HELO
Technology	36.2%	39.8%
Financial Services	11.9%	10.0%
Communication Services	10.9%	10.9%
Consumer Cyclical	10.1%	11.6%
Healthcare	8.4%	8.2%
Industrials	8.1%	6.0%
Consumer Defensive	4.9%	3.5%
Energy	3.5%	3.3%
Utilities	2.3%	2.5%
Real Estate	1.9%	1.8%
Basic Materials	1.8%	1.5%

Return for Risk

MAYW vs. HELO — Risk / Return Rank

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

MAYW

MAYW Risk / Return Rank: 94
MAYW Sharpe Ratio Rank: 92
MAYW Sortino Ratio Rank: 95
MAYW Omega Ratio Rank: 95
MAYW Calmar Ratio Rank: 93
MAYW Martin Ratio Rank: 96

HELO

HELO Risk / Return Rank: 50
HELO Sharpe Ratio Rank: 51
HELO Sortino Ratio Rank: 51
HELO Omega Ratio Rank: 58
HELO Calmar Ratio Rank: 38
HELO Martin Ratio Rank: 50

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.

MAYW vs. HELO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap Buffer20 May ETF (MAYW) 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.

	MAYW	HELO	Difference
Sharpe ratio: Return per unit of total volatility	3.29	1.79	+1.49
Sortino ratio: Return per unit of downside risk	5.12	2.53	+2.59
Omega ratio: Gain probability vs. loss probability	1.72	1.36	+0.36
Calmar ratio: Return relative to maximum drawdown	6.95	1.93	+5.02
Martin ratio: Return relative to average drawdown	36.77	8.55	+28.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MAYW vs. HELO - Sharpe Ratio Comparison

The current MAYW Sharpe Ratio is 3.29, which is higher than the HELO Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of MAYW 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

	MAYW	HELO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.29	1.79	+1.49
Sharpe Ratio (All Time) Calculated using the full available price history	1.71	1.64	+0.08

Drawdowns

MAYW vs. HELO - Drawdown Comparison

The maximum MAYW drawdown since its inception was -7.93%, smaller than the maximum HELO drawdown of -10.89%. Use the drawdown chart below to compare losses from any high point for MAYW and HELO.

Drawdown Indicators

	MAYW	HELO	Difference
Max Drawdown Largest peak-to-trough decline	-7.93%	-10.89%	+2.96%
Max Drawdown (1Y) Largest decline over 1 year	-1.40%	-5.76%	+4.36%
Max Drawdown (3Y) Largest decline over 3 years	-7.93%	—	—
Current Drawdown Current decline from peak	-0.27%	-0.28%	+0.01%
Average Drawdown Average peak-to-trough decline	-0.41%	-1.18%	+0.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	1.30%	-1.04%

Volatility

MAYW vs. HELO - Volatility Comparison

AllianzIM U.S. Large Cap Buffer20 May ETF (MAYW) has a higher volatility of 1.03% compared to JPMorgan Hedged Equity Laddered Overlay ETF (HELO) at 0.70%. This indicates that MAYW'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

	MAYW	HELO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.03%	0.70%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	2.20%	4.99%	-2.79%
Volatility (1Y) Calculated over the trailing 1-year period	2.97%	6.21%	-3.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.53%	7.96%	-1.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.53%	7.96%	-1.43%

MAYW vs. HELO - Expense Ratio Comparison

MAYW has a 0.74% expense ratio, which is higher than HELO's 0.50% expense ratio.

Dividends

MAYW vs. HELO - Dividend Comparison

MAYW has not paid dividends to shareholders, while HELO's dividend yield for the trailing twelve months is around 0.62%.

Position	TTM	2025	2024	2023
HELO JPMorgan Hedged Equity Laddered Overlay ETF	0.62%	0.67%	0.60%	0.19%
MAYW AllianzIM U.S. Large Cap Buffer20 May ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MAYW and HELO in my portfolio?

MAYW and HELO have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAYW or HELO?

MAYW has higher volatility (1.03%) compared to HELO (0.70%). In terms of maximum drawdown, MAYW dropped -7.93% vs HELO's -10.89%.

Which ETF is better, MAYW or HELO?

On 1-year performance, HELO leads with 11.08% vs 9.70% for MAYW. On fees, HELO is cheaper at 0.50% per year. On volatility, HELO has been the lower-risk option at 0.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAYW or HELO?

Over the 1-year period, HELO has performed better with a 11.08% return vs 9.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAYW or HELO?

HELO is cheaper with a 0.50% expense ratio, compared with 0.74% for MAYW.

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

HELO has the higher dividend yield at 0.62%, compared with 0.00% for MAYW.

What is the main difference between MAYW and HELO?

They also come from different issuers: Allianz and JPMorgan. Their fees differ too: 0.74% for MAYW and 0.50% for HELO.

Which has better risk-adjusted returns?

MAYW currently has the higher Sharpe Ratio (3.29 vs 1.79), 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.