BELT vs HELO
iShares US Select Equity Active ETF vs JPMorgan Hedged Equity Laddered Overlay ETF
Which is better, BELT or HELO?
BELT has been ahead.
HELO has a lower expense ratio. BELT led over 1Y and the full window. HELO is less concentrated, with 40.1% of the fund in its ten largest positions against 68.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BELT | HELO |
|---|---|---|
| Expense Ratio | 0.75% | 0.50%Best |
| AUM | $10M | $4.9B |
| Dividend Yield | 0.02% | 0.57% |
| Holdings | 20 | 156 |
| Volatility (annualized) | 18.8% | 7.2%Best |
| Max Drawdown | -23.1% | -10.9%Best |
| $10,000 over 2.1 years | $13,054Best | $12,076 |
| Top 10 Weight | 68.5% | 40.1%Best |
| Fund Family | BlackRock, Inc. (US) | J.P. Morgan Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jun 17, 2024 | Sep 28, 2023 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized).
The two price series end 64 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. BELT has data through Aug 12, 2026 and HELO through Oct 15, 2026.
Volatility and max drawdown, and the $10,000 over 2.1 years row, are measured over the window both funds cover: Jun 18, 2024 to Aug 12, 2026 (2.1 years).
Risk: Volatility and Drawdowns
BELT has been the more volatile fund, with annualized monthly volatility of 18.8% compared with 7.2% for HELO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -23.1% for BELT and -10.9% for HELO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.84. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
BELT charges 0.75% per year while HELO charges 0.50%. On a $10,000 position that is $75 vs $50 annually, a gap of $25 per year that compounds over a long holding period. On income, BELT currently yields 0.02% against 0.57% for HELO.
Holdings Overlap
75.5% of BELT's money is in holdings HELO also owns. 23.3% of HELO's money is in holdings BELT also owns.
Most of BELT is already inside HELO. Owning both mostly buys the same companies twice.
13 positions in common, counted across the 19 positions we hold weights for in BELT and 146 in HELO, against full books of 20 and 156.
What only one of them owns
Our book lists 130 positions for HELO that do not appear in our book for BELT (75.3% of the fund), and 4 for BELT that do not appear in HELO (15.3%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in BELT | Weight in HELO | Difference |
|---|---|---|---|
| AMZNAmazon.Com Inc | 8.66% | 4.26% | 4.40% |
| MSFTMicrosoft Corp | 6.27% | 6.29% | 0.02% |
| AVGOBroadcom Inc | 7.97% | 2.64% | 5.33% |
| HWMHowmet Aerospace | 9.80% | 0.69% | 9.11% |
| GOOGAlphabet Inc. C | 8.04% | 2.26% | 5.78% |
| METAMeta Platforms Inc | 4.02% | 2.31% | 1.71% |
| VRTVertiv Holdings Co | 5.40% | 0.53% | 4.87% |
| MAMastercard Inc | 4.45% | 1.24% | 3.21% |
| INTCIntel Corporation | 5.04% | 0.49% | 4.55% |
| TTTt Trane Technologies Plc | 4.54% | 0.83% | 3.71% |
75.5% of BELT is already inside HELO.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BELT or HELO?
BELT has an expense ratio of 0.75% while HELO charges 0.50%. HELO is the cheaper option, by $25 a year on a $10,000 investment.
Which is riskier, BELT or HELO?
BELT has been the more volatile fund at 18.8% annualized versus 7.2% for HELO. Worst drawdown: BELT -23.1% vs HELO -10.9%.
Should I hold both BELT and HELO?
BELT and HELO have a monthly-return correlation of 0.84, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between BELT and HELO?
75.5% of BELT's money is in holdings HELO also owns. 23.3% of HELO's is in holdings BELT also owns. They hold 13 positions in common, counted across the 19 positions we hold weights for in BELT and 146 in HELO.
Which pays a higher dividend, BELT or HELO?
BELT yields 0.02% while HELO yields 0.57%, so HELO currently pays the higher dividend yield.
Is HELO better than BELT?
HELO has a lower expense ratio. BELT led over 1Y and the full window. HELO is less concentrated, with 40.1% of the fund in its ten largest positions against 68.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.