OCTW vs. HELO

Last updated Apr 2, 2026

Compare and contrast key facts about AllianzIM U.S. Equity Buffer20 Oct ETF (OCTW) and JPMorgan Hedged Equity Laddered Overlay ETF (HELO).

OCTW and HELO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. OCTW is a passively managed fund by Allianz that tracks the performance of the SPDR S&P 500 ETF Trust. It was launched on Sep 30, 2020. HELO is an actively managed fund by JPMorgan. It was launched on Sep 28, 2023.

Performance

OCTW vs. HELO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity Buffer20 Oct ETF (OCTW) and JPMorgan Hedged Equity Laddered Overlay ETF (HELO). The values are adjusted to include any dividend payments, if applicable.

OCTW vs. HELO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
OCTW AllianzIM U.S. Equity Buffer20 Oct ETF	-0.95%	9.68%	8.67%	5.29%
HELO JPMorgan Hedged Equity Laddered Overlay ETF	-3.37%	7.82%	18.05%	6.30%

Returns By Period

In the year-to-date period, OCTW achieves a -0.95% return, which is significantly higher than HELO's -3.37% return.

OCTW

• 1D: 0.42%
• 1M: -1.55%
• YTD: -0.95%
• 6M: 0.51%
• 1Y: 9.74%
• 3Y*: 9.86%
• 5Y*: 7.86%
• 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)

OCTW vs. HELO - Expense Ratio Comparison

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

OCTW

AllianzIM U.S. Equity Buffer20 Oct ETF

HELO

JPMorgan Hedged Equity Laddered Overlay ETF

Return for Risk

OCTW vs. HELO — Risk / Return Rank

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

OCTW

OCTW Risk / Return Rank: 69
OCTW Sharpe Ratio Rank: 66
OCTW Sortino Ratio Rank: 68
OCTW Omega Ratio Rank: 75
OCTW Calmar Ratio Rank: 61
OCTW Martin Ratio Rank: 77

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.

OCTW vs. HELO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer20 Oct ETF (OCTW) 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.

	OCTW	HELO	Difference
Sharpe ratio Return per unit of total volatility	1.22	0.93	+0.29
Sortino ratio Return per unit of downside risk	1.80	1.39	+0.41
Omega ratio Gain probability vs. loss probability	1.30	1.20	+0.09
Calmar ratio Return relative to maximum drawdown	1.70	1.42	+0.29
Martin ratio Return relative to average drawdown	9.08	5.66	+3.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OCTW vs. HELO - Sharpe Ratio Comparison

The current OCTW Sharpe Ratio is 1.22, which is higher than the HELO Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of OCTW 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

	OCTW	HELO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.22	0.93	+0.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.26	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.34	1.40	-0.06

Correlation

The correlation between OCTW and HELO is 0.86, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

OCTW vs. HELO - Dividend Comparison

OCTW has not paid dividends to shareholders, while HELO's dividend yield for the trailing twelve months is around 0.66%.

	TTM	2025	2024	2023
OCTW AllianzIM U.S. Equity Buffer20 Oct ETF	0.00%	0.00%	0.00%	0.00%
HELO JPMorgan Hedged Equity Laddered Overlay ETF	0.66%	0.67%	0.60%	0.19%

Drawdowns

OCTW vs. HELO - Drawdown Comparison

The maximum OCTW drawdown since its inception was -8.38%, smaller than the maximum HELO drawdown of -10.89%. Use the drawdown chart below to compare losses from any high point for OCTW and HELO.

Drawdown Indicators

	OCTW	HELO	Difference
Max Drawdown Largest peak-to-trough decline	-8.38%	-10.89%	+2.51%
Max Drawdown (1Y) Largest decline over 1 year	-5.86%	-5.76%	-0.10%
Max Drawdown (5Y) Largest decline over 5 years	-8.38%	—	—
Current Drawdown Current decline from peak	-1.93%	-4.58%	+2.65%
Average Drawdown Average peak-to-trough decline	-0.84%	-1.22%	+0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	1.44%	-0.34%

Volatility

OCTW vs. HELO - Volatility Comparison

The current volatility for AllianzIM U.S. Equity Buffer20 Oct ETF (OCTW) is 2.45%, while JPMorgan Hedged Equity Laddered Overlay ETF (HELO) has a volatility of 2.67%. This indicates that OCTW 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

	OCTW	HELO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.45%	2.67%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	4.09%	5.39%	-1.30%
Volatility (1Y) Calculated over the trailing 1-year period	8.04%	8.58%	-0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.25%	8.13%	-1.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.19%	8.13%	-1.94%