SHDG vs. HELO

Last updated Jun 4, 2026

SHDG (Soundwatch Hedged Equity ETF) and HELO (JPMorgan Hedged Equity Laddered Overlay ETF) are both Options Trading funds. Both are actively managed. Over the past year, SHDG returned 12.30% vs 11.08% for HELO. Their correlation of 0.92 suggests significant overlap in exposure. SHDG charges 0.53%/yr vs 0.50%/yr for HELO.

Performance

SHDG vs. HELO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Soundwatch Hedged Equity ETF (SHDG) 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, SHDG achieves a 0.88% return, which is significantly lower than HELO's 2.31% return.

SHDG

• 1D: -0.04%
• 1M: 1.31%
• YTD: 0.88%
• 6M: 1.06%
• 1Y: 12.30%
• 3Y*: 12.67%
• 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)

SHDG vs. HELO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SHDG Soundwatch Hedged Equity ETF	0.88%	11.46%	19.66%	7.28%
HELO JPMorgan Hedged Equity Laddered Overlay ETF	2.31%	7.82%	18.05%	6.30%

Correlation

The correlation between SHDG and HELO is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (All Time) Calculated using the full available price history since Oct 2, 2023	0.92

The correlation between SHDG and HELO has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.

SHDG vs. HELO - Sectors Allocation Comparison

Sectors	SHDG	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

SHDG vs. HELO — Risk / Return Rank

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

SHDG

SHDG Risk / Return Rank: 44
SHDG Sharpe Ratio Rank: 46
SHDG Sortino Ratio Rank: 44
SHDG Omega Ratio Rank: 49
SHDG Calmar Ratio Rank: 38
SHDG Martin Ratio Rank: 43

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.

SHDG vs. HELO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Soundwatch Hedged Equity ETF (SHDG) 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.

	SHDG	HELO	Difference
Sharpe ratio: Return per unit of total volatility	1.58	1.79	-0.21
Sortino ratio: Return per unit of downside risk	2.18	2.53	-0.35
Omega ratio: Gain probability vs. loss probability	1.30	1.36	-0.06
Calmar ratio: Return relative to maximum drawdown	1.86	1.93	-0.07
Martin ratio: Return relative to average drawdown	6.92	8.55	-1.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SHDG vs. HELO - Sharpe Ratio Comparison

The current SHDG Sharpe Ratio is 1.58, which is comparable to the HELO Sharpe Ratio of 1.79. The chart below compares the historical Sharpe Ratios of SHDG 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

	SHDG	HELO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.58	1.79	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	1.32	1.64	-0.31

Drawdowns

SHDG vs. HELO - Drawdown Comparison

The maximum SHDG drawdown since its inception was -15.82%, which is greater than HELO's maximum drawdown of -10.89%. Use the drawdown chart below to compare losses from any high point for SHDG and HELO.

Drawdown Indicators

	SHDG	HELO	Difference
Max Drawdown Largest peak-to-trough decline	-15.82%	-10.89%	-4.93%
Max Drawdown (1Y) Largest decline over 1 year	-6.62%	-5.76%	-0.86%
Max Drawdown (3Y) Largest decline over 3 years	-15.82%	—	—
Current Drawdown Current decline from peak	-0.75%	-0.28%	-0.47%
Average Drawdown Average peak-to-trough decline	-1.74%	-1.18%	-0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	1.30%	+0.48%

Volatility

SHDG vs. HELO - Volatility Comparison

The current volatility for Soundwatch Hedged Equity ETF (SHDG) is 0.48%, while JPMorgan Hedged Equity Laddered Overlay ETF (HELO) has a volatility of 0.70%. This indicates that SHDG 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

	SHDG	HELO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.48%	0.70%	-0.22%
Volatility (6M) Calculated over the trailing 6-month period	5.66%	4.99%	+0.67%
Volatility (1Y) Calculated over the trailing 1-year period	7.82%	6.21%	+1.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.99%	7.96%	+3.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.99%	7.96%	+3.03%

SHDG vs. HELO - Expense Ratio Comparison

SHDG has a 0.53% expense ratio, which is higher than HELO's 0.50% expense ratio.

Dividends

SHDG vs. HELO - Dividend Comparison

SHDG's dividend yield for the trailing twelve months is around 0.49%, less than HELO's 0.62% yield.

Position	TTM	2025	2024	2023	2022
HELO JPMorgan Hedged Equity Laddered Overlay ETF	0.62%	0.67%	0.60%	0.19%	0.00%
SHDG Soundwatch Hedged Equity ETF	0.49%	0.49%	0.62%	1.24%	0.90%

Frequently Asked Questions

Can I hold both SHDG and HELO in my portfolio?

With a correlation of 0.91, SHDG and HELO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SHDG or HELO?

HELO has higher volatility (0.70%) compared to SHDG (0.48%). In terms of maximum drawdown, SHDG dropped -15.82% vs HELO's -10.89%.

Which ETF is better, SHDG or HELO?

On 1-year performance, SHDG leads with 12.30% vs 11.08% for HELO. On fees, HELO is cheaper at 0.50% per year. On volatility, SHDG has been the lower-risk option at 0.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SHDG or HELO?

Over the 1-year period, SHDG has performed better with a 12.30% return vs 11.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SHDG or HELO?

HELO is cheaper with a 0.50% expense ratio, compared with 0.53% for SHDG.

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

HELO has the higher dividend yield at 0.62%, compared with 0.49% for SHDG.

What is the main difference between SHDG and HELO?

They also come from different issuers: SoundWatch Capital and JPMorgan. Their fees differ too: 0.53% for SHDG and 0.50% for HELO.

Which has better risk-adjusted returns?

HELO currently has the higher Sharpe Ratio (1.79 vs 1.58), 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.