THEQ vs. HOLA

Last updated Aug 5, 2026

THEQ (T. Rowe Price Hedged Equity ETF) and HOLA (JPMorgan International Hedged Equity Laddered Overlay ETF) are both Equity Hedged funds. Both are actively managed. Over the past year, THEQ returned 14.61% vs 17.50% for HOLA. Their 0.69 correlation means they have sometimes moved together and sometimes differently. THEQ charges 0.46%/yr vs 0.50%/yr for HOLA.

Performance

THEQ vs. HOLA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Hedged Equity ETF (THEQ) and JPMorgan International Hedged Equity Laddered Overlay ETF (HOLA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, THEQ achieves a 8.91% return, which is significantly higher than HOLA's 8.34% return.

THEQ

• 1D: 1.39%
• 1M: 2.82%
• 6M: 7.77%
• YTD: 8.91%
• 1Y: 14.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 16.34%

HOLA

• 1D: 0.81%
• 1M: 2.18%
• 6M: 4.25%
• YTD: 8.34%
• 1Y: 17.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.61%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HOLA JPMorgan International Hedged Equity Laddered Overlay ETF	$887.21K	$659.42K	$1.16M
THEQ T. Rowe Price Hedged Equity ETF	$177.26K	$124.05K	$169.23K

THEQ vs. HOLA - Yearly Performance Comparison

	2026 (YTD)	2025
THEQ T. Rowe Price Hedged Equity ETF	8.91%	6.90%
HOLA JPMorgan International Hedged Equity Laddered Overlay ETF	8.34%	7.60%

Correlation

The correlation between THEQ and HOLA is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.69
Correlation (All Time) Calculated using the full available price history since Jul 14, 2025	0.69

The correlation between THEQ and HOLA has been stable across timeframes, ranging from 0.69 to 0.69 - a consistent structural relationship.

THEQ vs. HOLA - Sectors Allocation Comparison

Sectors	THEQ	HOLA
Technology	35.4%	14.4%
Financial Services	12.3%	25.7%
Communication Services	10.8%	4.0%
Consumer Cyclical	9.5%	8.1%
Healthcare	9.3%	9.8%
Industrials	7.8%	18.2%
Consumer Defensive	5.1%	6.6%
Energy	3.6%	3.0%
Utilities	3.0%	4.3%
Basic Materials	1.7%	5.1%
Real Estate	1.6%	0.9%

Return for Risk

THEQ vs. HOLA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

THEQ

THEQ Risk / Return Rank: 59
THEQ Sharpe Ratio Rank: 57
THEQ Sortino Ratio Rank: 56
THEQ Omega Ratio Rank: 55
THEQ Calmar Ratio Rank: 59
THEQ Martin Ratio Rank: 69

HOLA

HOLA Risk / Return Rank: 65
HOLA Sharpe Ratio Rank: 66
HOLA Sortino Ratio Rank: 68
HOLA Omega Ratio Rank: 65
HOLA Calmar Ratio Rank: 63
HOLA Martin Ratio Rank: 63

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

THEQ vs. HOLA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Hedged Equity ETF (THEQ) and JPMorgan International Hedged Equity Laddered Overlay ETF (HOLA). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	THEQ	HOLA	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.75	-0.18
Sortino ratio: Return per unit of downside risk	2.21	2.54	-0.32
Omega ratio: Gain probability vs. loss probability	1.28	1.31	-0.03
Calmar ratio: Return relative to maximum drawdown	2.38	2.51	-0.14
Martin ratio: Return relative to average drawdown	9.54	8.52	+1.02

THEQ vs. HOLA - Sharpe Ratio Comparison

The current THEQ Sharpe Ratio is 1.57, which is comparable to the HOLA Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of THEQ and HOLA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

THEQ vs. HOLA - Drawdown Comparison

The maximum THEQ drawdown since its inception was -8.20%, which is greater than HOLA's maximum drawdown of -6.99%. Use the drawdown chart below to compare losses from any high point for THEQ and HOLA.

Drawdown Indicators

	THEQ	HOLA	Difference
Max Drawdown Largest peak-to-trough decline	-8.20%	-6.99%	-1.21%
Max Drawdown (1Y) Largest decline over 1 year	-6.17%	-6.99%	+0.82%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.07%	-1.39%	+0.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.54%	2.06%	-0.52%

Volatility

THEQ vs. HOLA - Volatility Comparison

The current volatility for T. Rowe Price Hedged Equity ETF (THEQ) is 3.18%, while JPMorgan International Hedged Equity Laddered Overlay ETF (HOLA) has a volatility of 3.53%. This indicates that THEQ experiences smaller price fluctuations and is considered to be less risky than HOLA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THEQ	HOLA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.18%	3.53%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	7.39%	8.40%	-1.01%
Volatility (1Y) Calculated over the trailing 1-year period	9.47%	10.12%	-0.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.55%	10.14%	+1.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.55%	10.14%	+1.41%

THEQ vs. HOLA - Expense Ratio Comparison

THEQ has a 0.46% expense ratio, which is lower than HOLA's 0.50% expense ratio.

Dividends

THEQ vs. HOLA - Dividend Comparison

THEQ's dividend yield for the trailing twelve months is around 0.73%, less than HOLA's 2.79% yield.

Position	TTM	2025
HOLA JPMorgan International Hedged Equity Laddered Overlay ETF	2.79%	3.02%
THEQ T. Rowe Price Hedged Equity ETF	0.73%	0.79%

Frequently Asked Questions

Can I hold both THEQ and HOLA in my portfolio?

THEQ and HOLA have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THEQ or HOLA?

HOLA has higher volatility (3.53%) compared to THEQ (3.18%). In terms of maximum drawdown, THEQ dropped -8.20% vs HOLA's -6.99%.

Which ETF is better, THEQ or HOLA?

On 1-year performance, HOLA leads with 17.50% vs 14.61% for THEQ. On fees, THEQ is cheaper at 0.46% per year. On volatility, THEQ has been the lower-risk option at 3.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, THEQ or HOLA?

Over the 1-year period, HOLA has performed better with a 17.50% return vs 14.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, THEQ or HOLA?

THEQ is cheaper with a 0.46% expense ratio, compared with 0.50% for HOLA.

Which ETF pays a higher dividend yield, THEQ or HOLA?

HOLA has the higher dividend yield at 2.79%, compared with 0.73% for THEQ.

What is the main difference between THEQ and HOLA?

They also come from different issuers: T. Rowe Price and JPMorgan. Their fees differ too: 0.46% for THEQ and 0.50% for HOLA.

Which has better risk-adjusted returns?

HOLA currently has the higher Sharpe Ratio (1.75 vs 1.57), 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.