Key stats
About J.P. Morgan Exchange-Traded Fund Trust JPMorgan Hedged Equity Laddered Overlay ETF
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Inception date
Sep 28, 2023
Structure
Open-Ended Fund
Dividend treatment
Distributes
Distribution tax treatment
Qualified dividends
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
JPMorgan Investment Management, Inc.
Distributor
JPMorgan Distribution Services, Inc.
HELO seeks capital appreciation by investing in large-cap US stocks while seeking to provide a continuous market hedge using a put spread collar. The fund attempts to mirror the sector weights in the S&P 500, although the adviser has discretion on the selection process and may skew individual weights. HELO provides a laddered options exposure by purchasing put options on S&P 500 ETFs. The positions are laddered over multiple three-month periods staggered a month apart. The positions will expire at various dates such that each period, a portion of the options portfolio resets. The long puts are initiated at a higher strike price and the fund also sells puts at a lower strike price, resulting in a put option spread. The put spreads are partially funded by writing calls, which effectively caps the fund's upside participation. Note that the strategy will not be most profitable in rising markets and may not provide protection when the market is only slightly down.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Electronic Technology
Technology Services
Finance
Stocks99.42%
Electronic Technology20.52%
Technology Services19.20%
Finance15.94%
Health Technology8.27%
Retail Trade7.43%
Consumer Services4.99%
Producer Manufacturing4.91%
Consumer Non-Durables3.80%
Energy Minerals2.93%
Utilities2.56%
Health Services1.88%
Transportation1.83%
Consumer Durables1.66%
Process Industries1.54%
Commercial Services0.69%
Communications0.48%
Non-Energy Minerals0.37%
Industrial Services0.23%
Distribution Services0.19%
Bonds, Cash & Other0.58%
Cash0.58%
Stock breakdown by region
North America95.71%
Europe4.29%
Latin America0.00%
Asia0.00%
Africa0.00%
Middle East0.00%
Oceania0.00%
Top 10 holdings
Dividends
Dividend payout history