XJAN vs. HELO

Last updated Aug 1, 2026

XJAN (FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January) and HELO (JPMorgan Hedged Equity Laddered Overlay ETF) are both Options Trading funds. Both are actively managed. Over the past year, XJAN returned 10.19% vs 9.80% for HELO. Their correlation of 0.82 means they have usually moved in the same direction. XJAN charges 0.85%/yr vs 0.50%/yr for HELO.

Performance

XJAN vs. HELO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January (XJAN) 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, XJAN achieves a 5.00% return, which is significantly higher than HELO's 3.32% return.

XJAN

• 1D: 0.28%
• 1M: 0.74%
• 6M: 4.70%
• YTD: 5.00%
• 1Y: 10.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.25%

HELO

• 1D: 0.65%
• 1M: 1.27%
• 6M: 2.48%
• YTD: 3.32%
• 1Y: 9.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.14%

*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)
HELO JPMorgan Hedged Equity Laddered Overlay ETF	$21.21M	$35.58M	$27.77M
XJAN FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January	$17.85K	$27.68K	$136.34K

XJAN vs. HELO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XJAN FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January	5.00%	9.14%	9.08%
HELO JPMorgan Hedged Equity Laddered Overlay ETF	3.32%	7.82%	16.72%

Correlation

The correlation between XJAN and HELO is 0.86, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.86
Correlation (All Time) Calculated using the full available price history since Jan 22, 2024	0.82

The correlation between XJAN and HELO has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.

Return for Risk

XJAN vs. HELO — Risk / Return Rank

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

XJAN

XJAN Risk / Return Rank: 83
XJAN Sharpe Ratio Rank: 84
XJAN Sortino Ratio Rank: 87
XJAN Omega Ratio Rank: 91
XJAN Calmar Ratio Rank: 67
XJAN Martin Ratio Rank: 88

HELO

HELO Risk / Return Rank: 53
HELO Sharpe Ratio Rank: 54
HELO Sortino Ratio Rank: 53
HELO Omega Ratio Rank: 57
HELO Calmar Ratio Rank: 43
HELO Martin Ratio Rank: 56

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.

XJAN vs. HELO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January (XJAN) 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.

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.

	XJAN	HELO	Difference
Sharpe ratio: Return per unit of total volatility	2.00	1.30	+0.70
Sortino ratio: Return per unit of downside risk	2.95	1.86	+1.09
Omega ratio: Gain probability vs. loss probability	1.43	1.25	+0.18
Calmar ratio: Return relative to maximum drawdown	2.38	1.54	+0.84
Martin ratio: Return relative to average drawdown	13.40	6.59	+6.81

XJAN vs. HELO - Sharpe Ratio Comparison

The current XJAN Sharpe Ratio is 2.00, which is higher than the HELO Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of XJAN 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.

Drawdowns

XJAN vs. HELO - Drawdown Comparison

The maximum XJAN drawdown since its inception was -10.04%, smaller than the maximum HELO drawdown of -10.89%. Use the drawdown chart below to compare losses from any high point for XJAN and HELO.

Drawdown Indicators

	XJAN	HELO	Difference
Max Drawdown Largest peak-to-trough decline	-10.04%	-10.89%	+0.85%
Max Drawdown (1Y) Largest decline over 1 year	-4.05%	-5.76%	+1.71%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.56%	-1.16%	+0.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.72%	1.34%	-0.62%

Volatility

XJAN vs. HELO - Volatility Comparison

The current volatility for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January (XJAN) is 1.10%, while JPMorgan Hedged Equity Laddered Overlay ETF (HELO) has a volatility of 2.55%. This indicates that XJAN 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

	XJAN	HELO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.10%	2.55%	-1.45%
Volatility (6M) Calculated over the trailing 6-month period	4.31%	5.17%	-0.86%
Volatility (1Y) Calculated over the trailing 1-year period	4.82%	6.82%	-2.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.07%	7.97%	-0.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.07%	7.97%	-0.90%

XJAN vs. HELO - Expense Ratio Comparison

XJAN has a 0.85% expense ratio, which is higher than HELO's 0.50% expense ratio.

Dividends

XJAN vs. HELO - Dividend Comparison

XJAN has not paid dividends to shareholders, while HELO's dividend yield for the trailing twelve months is around 0.63%.

Position	TTM	2025	2024	2023
HELO JPMorgan Hedged Equity Laddered Overlay ETF	0.63%	0.67%	0.60%	0.19%
XJAN FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XJAN and HELO in my portfolio?

XJAN and HELO have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XJAN or HELO?

HELO has higher volatility (2.55%) compared to XJAN (1.10%). In terms of maximum drawdown, XJAN dropped -10.04% vs HELO's -10.89%.

Which ETF is better, XJAN or HELO?

On 1-year performance, XJAN leads with 10.19% vs 9.80% for HELO. On fees, HELO is cheaper at 0.50% per year. On volatility, XJAN has been the lower-risk option at 1.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XJAN or HELO?

Over the 1-year period, XJAN has performed better with a 10.19% return vs 9.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XJAN or HELO?

HELO is cheaper with a 0.50% expense ratio, compared with 0.85% for XJAN.

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

HELO has the higher dividend yield at 0.63%, compared with 0.00% for XJAN.

What is the main difference between XJAN and HELO?

They also come from different issuers: FT Vest and JPMorgan. Their fees differ too: 0.85% for XJAN and 0.50% for HELO.

Which has better risk-adjusted returns?

XJAN currently has the higher Sharpe Ratio (2.00 vs 1.30), 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.