Jpmorgan Hedged Equity Laddered Overlay ETF (HELO) Performance
HELO total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +4.0% since Dec 31, 2025
- 1 year
- +5.8% total return
- 3 years
- +12.3% a year
- Since first price
- +11.8% a year since 2023
HELO trailing returns vs SPY, QQQ, AGG
| Period | HELO total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.7% | −0.7% | −1.0% | −5.0% | +0.9% |
| 3 months | +2.0% | +1.9% | +3.2% | +1.9% | −0.4% |
| 6 months | +2.8% | +2.5% | +7.8% | +8.4% | −1.5% |
| YTD | +4.0% | +3.6% | +12.3% | +15.1% | −1.0% |
| 1 year | +5.8% | +5.2% | +14.4% | +15.9% | −1.1% |
| 3 years | +41.7%+12.3%/yr | +39.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionSep 29, 2023 | +40.7%+11.8%/yr | +38.1% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: HELO vs SPY
From Sep 29, 2023: HELO grew to $14,074, SPY to $18,434.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
HELO returns by calendar year
2 of 2 full years positive. Best 2024 (+18.0%), worst 2025 (+7.8%). 2026 is year to date.
HELO annual returns table
| Year | HELO | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +4.0% | −5.8% | +12.3% | +15.1% | −1.0% |
| 2025 | +7.8% | −10.9% | +17.7% | +20.8% | +7.2% |
| 2024 | +18.0% | −4.2% | +24.9% | +25.6% | +1.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
HELO largest drawdowns
Now 1.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2025 | −10.9% | Apr 8, 2025 | Aug 12, 2025 | 48 days | 6 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
HELO risk statistics
| Statistic | 3 years |
|---|---|
| Annualized return | +12.3% |
| Volatility (annualized) | 7.4% |
| Sharpe ratio | 1.03 |
| Sortino ratio | 1.78 |
| Best month | +5.7% |
| Worst month | −4.3% |
| Best 12 months | +24.7% |
| Worst 12 months | +5.8% |
| Positive months | 69% |
| Beta vs S&P 500 | 0.56 |
| Correlation with S&P 500 | 0.95 |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
HELO rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 26 | +5.5% | +8.3% | +24.7% | 100% |
| 3-year (a year) | 2 | +12.3% | +12.4% | +12.5% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
HELO performance overview
Jpmorgan Hedged Equity Laddered Overlay ETF (HELO) returned +5.8% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned +11.8% a year, turning $10,000 into about $14,074. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −10.9%, from Feb 19, 2025 to Apr 8, 2025, and it took 4 months to get back to the old high. Volatility has been 7.4% a year.
Related: HELO chart, HELO holdings, HELO dividends, HELO valuation. See the HELO overview for the latest quote and fund facts.
HELO performance FAQ
What is the HELO return over the past year?
HELO returned +5.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 5.2%.
How much would $10,000 invested in HELO be worth?
$10,000 invested in HELO at its first recorded close on September 29, 2023 would be worth about $14,074 on October 23, 2026 with distributions reinvested.
What was the worst year for HELO?
The worst calendar year was 2025, with a total return of +7.8%. The best was 2024 at +18.0%.
What is the biggest drawdown of HELO?
The largest peak-to-trough decline was −10.9% between February 19, 2025 and April 8, 2025. It recovered to the old high on August 12, 2025, 4 months after the bottom.
How volatile is HELO?
Over the past 3 years HELO had an annualized volatility of 7.4% and a Sharpe ratio of 1.03 (excess return over 1–3 month T-bills per unit of risk).