JPMorgan Hedged Equity Laddered Overlay ETF
Actively managed U.S. stock ETF
As of its 2026 Q2 report, JPMorgan Hedged Equity Laddered Overlay ETF held 159 positions with $4.02B in net assets. Its ten largest holdings made up 41.1% of the fund. The HELO share class costs 0.5% a year. Over the 12 months to May 2026, HELO returned 11.8%, with dividends reinvested. In 2026 Q3 it added 13 new positions and exited 18.
The Fund seeks to provide capital appreciation.
The fund invests primarily in large-cap U.S. common stocks selected for attractive valuation relative to perceived risk and reward, while employing an options overlay strategy designed to hedge overall market exposure. The overlay uses put spreads—buying puts at higher strike prices and selling puts at lower strikes—funded by selling call options, which limits both downside protection and upside capture. Because the fund sells calls to offset hedging costs, it may underperform in rising markets. The strategy uses laddered options expiring across multiple three-month periods to provide continuous coverage.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
NVDANVIDIA Corp. | 8.65% | $347.54M | 1.7M | $199.57 |
AAPLApple, Inc. | 6.51% | $261.48M | 963.6K | $271.35 |
MSFTMicrosoft Corp. | 5.57% | $223.91M | 549.1K | $407.78 |
AMZNAmazon.com, Inc. | 4.92% | $197.68M | 745.8K | $265.06 |
GOOGLAlphabet, Inc. | 3.83% | $153.65M | 399.3K | $384.80 |
AVGOBroadcom, Inc. | 3.53% | $141.96M | 340.1K | $417.43 |
GOOGAlphabet, Inc. | 2.49% | $100.11M | 262.1K | $381.94 |
2.43% | $97.62M | 159.5K | $611.91 | |
TSLATesla, Inc. | 1.65% | $66.15M | 173.3K | $381.63 |
1.47% | $59.11M | 383.0K | $154.33 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
All 159 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 102.26% |
| Cash & short-term | 0.48% |
| Derivatives | -2.74% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
By sector
- Information Technology
- 34.9%
- Financials
- 12.3%
- Consumer Discretionary
- 10.5%
- Communication Services
- 9.3%
- 10 other sectors
- 33.1%
- Information Technology
- 34.9%
- Financials
- 12.3%
- Consumer Discretionary
- 10.5%
- Communication Services
- 9.3%
- Health Care
- 8.5%
- Industrials
- 6.7%
- International
- 3.5%
- Consumer Staples
- 3.3%
- Energy
- 3.2%
- Cash
- 2.3%
- Utilities
- 2.0%
- Real Estate
- 1.7%
- Materials
- 1.4%
- Other
- 0.4%
How it has done
HELO share class · total returns with dividends reinvested
Volatility over the last 12 months: 7.29%. Past returns are a record, not a forecast.
Jun 2026 and Jul 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Fees & fund details
JPMorgan Hedged Equity Laddered Overlay ETF is an actively managed U.S. equity ETF. 21% of HELO’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 95% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- ETF
- Expense ratio, by class
- 0.50%· HELO 0.50%
- Portfolio turnover
- 30.00% a year · as of 2026 Q2
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
13 new· the largest 8
18 exited· the largest 8
Understand how this fund fits with the rest.
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