HELOvsDMAXETF Comparison
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JPMorgan Hedged Equity Laddered Overlay ETF (HELO) and iShares Large Cap Max Buffer Dec ETF (DMAX) belong to the same industry segment: Options Strategies. Both ETFs have the same top 3 sector exposures: Technology, Finance and Healthcare. HELO is less expensive with a Total Expense Ratio (TER) of 0.5%, versus 0.53% for DMAX. HELO is up 4.64% year-to-date (YTD) with +$990M in YTD flows. DMAX performs worse with 4.15% YTD performance, and +$50M in YTD flows. Run a side-by-side ETF comparison of HELO and DMAX below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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HELO vs DMAX performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/11/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | HELO DMAX | -0.62%+0.38% | +3.16%+1.80% | +4.64%+4.15% | +7.47%+6.53% | n/an/a | n/an/a |
| Flows | HELO DMAX | +$82M-$3M | +$630M-$2M | +$990M+$50M | +$1.11B+$45M | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | HELO DMAX | +6.98%+1.76% | +6.93%+2.23% | n/an/a | n/an/a |
| Max drawdown | HELO DMAX | -1.97%-0.44% | -5.83%-1.47% | n/an/a | n/an/a |
| Max drawdown duration | HELO DMAX | 16d14d | 73d44d | n/an/a | n/an/a |
Trading data
HELO | DMAX | |
Last sale 9/11/2026 at 1:30 PM | $69.24 | $27.73 |
| Previous close 09/10/2026 | $68.94 | $27.67 |
| Consolidated volume 09/10/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/11/2026 at 1:30 PM
Live
Closed
HELO | DMAX | |
|---|---|---|
| Last price | $69.24 | $27.73 |
| 1D performance | +0.44% | +0.21% |
| AuM | $4.78 B | $136.49 M |
| E/R | 0.5% | 0.53% |
Characteristics
HELO | DMAX | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | J.P. Morgan Asset Management | iShares |
| Benchmark | - | - |
| N° of holdings | 151 | 501 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 28, 2023 | December 31, 2024 |
| ESG | No | No |
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Exposure
Countries
HELO
USA
94.73%
Other
5.27%
DMAX
USA
101.93%
Other
-1.93%
Sectors
HELO
Technology
43.68%
Finance
14.6%
Healthcare
9.17%
Consumer Non-Cycl.
8.65%
Industrials
7.55%
Other
16.36%
DMAX
Technology
46.39%
Finance
14.53%
Healthcare
9.31%
Consumer Non-Cycl.
9.26%
Industrials
8.12%
Other
12.39%
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Diversification
HELO
Total weight of top 15 holdings out of 15
44.71%
DMAX
Total weight of top 15 holdings out of 15
45.18%
Top 15 holdings
Data as of July 31, 2026
HELO
NVIDIA Corp.
8.00%
Apple, Inc.
7.42%
Microsoft Corp.
5.06%
Amazon.com, Inc.
4.07%
Alphabet, Inc.
3.09%
Broadcom Inc.
3.07%
Alphabet, Inc.
2.25%
Meta Platforms, Inc.
2.19%
Micron Technology, Inc.
1.79%
ExxonMobil Holdings Corp.
1.37%
Advanced Micro Devices, Inc.
1.32%
Johnson & Johnson
1.29%
Berkshire Hathaway, Inc.
1.27%
Eli Lilly & Co.
1.26%
Mastercard, Inc.
1.25%
DMAX
Apple, Inc.
7.92%
NVIDIA Corp.
7.64%
Microsoft Corp.
5.42%
Amazon.com, Inc.
3.73%
Alphabet, Inc.
3.17%
Broadcom Inc.
2.97%
Alphabet, Inc.
2.55%
Meta Platforms, Inc.
1.92%
Micron Technology, Inc.
1.60%
JPMorgan Chase & Co.
1.52%
Berkshire Hathaway, Inc.
1.51%
Eli Lilly & Co.
1.48%
Tesla, Inc.
1.41%
Advanced Micro Devices, Inc.
1.28%
ExxonMobil Holdings Corp.
1.05%
Frequently asked questions about HELO and DMAX
How have the HELO and DMAX ETFs performed in 2026?
As of September 11, 2026, HELO is up 4.64% year-to-date (YTD), while DMAX has returned 4.15%. That puts HELO better performer ahead so far this year.
Which ETF is attracting more investor money: HELO or DMAX?
Year-to-date, the HELO ETF saw +$990M in flows, compared to +$50M for DMAX.
Which ETF is more volatile: HELO or DMAX?
Over the past year, HELO had a volatility of 6.93%, while DMAX experienced 2.23%.
Which ETF is bigger: HELO or DMAX?
As of September 11, 2026, HELO holds $4.78 B in assets under management (AUM), while DMAX manages $136.49 M.
What sectors do the HELO and DMAX ETFs invest in?
HELO leans toward sectors like Technology, Finance and Healthcare. Meanwhile, DMAX focuses on Technology, Finance and Healthcare.
What are the top holdings of the HELO ETF and DMAX ETF?
HELO top holdings include NVIDIA Corp., Apple, Inc. and Microsoft Corp.. DMAX holds in its top three: Apple, Inc., NVIDIA Corp. and Microsoft Corp..
Which ETF is more diversified: HELO or DMAX?
HELO holds 152 securities with 44.71% of its assets in the top 15. DMAX has 504 securities and a top 15 weight of 45.18%.
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Latest news about HELO & DMAX
Hedged Equity ETFs: Options-Based Alternatives to the 60/40 Portfolio
March 25, 2025
HELO
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