JPMorgan Hedged Equity Laddered Overlay ETF
HELO
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 383 Madison Avenue New York NY United States of America 10179
- IPO Date
- Sep 29, 2023
- Website
- am.jpmorgan.com
- Similar Companies
- Business
- JPMorgan Hedged Equity Laddered Overlay ETF (HELO) is an actively managed exchange-traded fund that seeks capital appreciation through participation in broad U.S. large-cap equity markets while providing downside protection via a proprietary laddered options overlay strategy. Launched on September 28, 2023, and issued by J.P. Morgan Asset Management, a division of JPMorgan Chase & Co., headquartered at 270 Park Avenue in New York, the fund primarily invests in an enhanced index portfolio of equity securities similar to those in the S&P 500 Index, comprising common stocks of large-capitalization U.S. companies such as NVIDIA Corporation, Microsoft Corporation, Apple Inc., Amazon.com Inc., and Broadcom Inc., which together represent significant portions of its approximately 163-164 holdings. It employs a systematic options overlay by purchasing and selling exchange-traded put options and call options, typically based on S&P 500 ETFs; this includes buying long puts at higher strike prices (e.g., from -5% to -20% over three-month windows) and selling puts at lower strikes to form put spreads, partially funded by writing calls, with three such hedges laddered and staggered one month apart to deliver continuous market hedging, reduced volatility (targeting half that of the S&P 500), positive up/down market capture, and enhanced risk-adjusted returns over full market cycles of three to five years. The fund distributes income quarterly with a payout ratio of approximately 17.74% and maintains total net assets exceeding $3.4 billion as of late 2025, with a net expense ratio of 0.50%; it operates domestically in U.S. markets, targeting investors seeking equity exposure with smoother returns, lower risk profiles akin to 60/40 portfolios, or reduced market volatility. Managed by an experienced team including Hamilton Reiner (Head of U.S. Equity Derivatives), Raffaele Zingone (U.S. Equity Core portfolio manager), Matt Bensen, and Judy Jansen (joined November 2024), the strategy leverages over 70 years of combined expertise in equities and derivatives, supported by a proprietary 30+ year stock valuation model for underlying portfolio construction. Recent developments include strong asset growth to over $3.5 billion in assets under management by mid-2025 amid robust U.S. equity performance, alongside portfolio manager additions of Matt Bensen and Judy Jansen in November 2024 to bolster the team. In March 2025, J.P. Morgan Asset Management expanded its Hedged Equity suite by launching the complementary JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF (HEQQ), applying a similar laddered options strategy to Nasdaq-focused large-cap equities, reflecting strategic growth in outcome-oriented active ETF offerings. In October 2025, the firm introduced UCITS-compliant versions of HELO and HEQQ in Europe, enhancing global accessibility for hedged equity solutions amid rising demand for risk-managed equity exposure.