CPSL vs HELO
Calamos Laddered S&P 500 Structured Alt Protection ETF vs JPMorgan Hedged Equity Laddered Overlay ETF
Which is better, CPSL or HELO?
HELO has been ahead.
HELO has a lower expense ratio. HELO led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.94. HELO is less concentrated, with 40.1% of the fund in its ten largest positions against 83.3%.
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 | CPSL | HELO |
|---|---|---|
| Expense Ratio | 0.79% | 0.50%Best |
| AUM | $158M | $4.9B |
| Dividend Yield | 0.00% | 0.57% |
| Holdings | 14 | 156 |
| YTD Return | +4.30% | +4.91%Best |
| 1Y Return | +5.70% | +7.68%Best |
| 3Y Return (annualized) | - | +11.88% |
| Volatility (annualized) | 2.3%Best | 7.2% |
| Max Drawdown | -3.7%Best | -10.9% |
| $10,000 over 2.1 years | $11,385 | $11,945Best |
| Top 10 Weight | 83.3% | 40.1%Best |
| Fund Family | Calamos Investments | J.P. Morgan Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 9, 2024 | Sep 28, 2023 |
Not shown on this pair: 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 2.1 years row, are measured over the window both funds cover: Sep 9, 2024 to Oct 14, 2026 (2.1 years).
CPSL vs HELO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 2.1 years both funds cover.
CPSL vs HELO Performance
Calamos Laddered S&P 500 Structured Alt Protection ETF (CPSL) is an ETF from Calamos Investments and JPMorgan Hedged Equity Laddered Overlay ETF (HELO) is an ETF from J.P. Morgan Asset Management. Over the past year CPSL returned +5.70% while HELO returned +7.68%. Year to date, CPSL is up 4.30% versus a gain of 4.91% for HELO.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HELO has been the more volatile fund, with annualized monthly volatility of 7.2% compared with 2.3% for CPSL. 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 -3.7% for CPSL 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 0.94. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
CPSL charges 0.79% per year while HELO charges 0.50%. On a $10,000 position that is $79 vs $50 annually, a gap of $29 per year that compounds over a long holding period. On income, CPSL currently yields 0.00% against 0.57% for HELO.
Holdings Overlap
We hold position weights for 12 holdings in CPSL and 146 in HELO, totalling 99.9% and 99.8% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 12 positions we hold weights for in CPSL and 146 in HELO, against full books of 14 and 156.
What only one of them owns
Our book lists 143 positions for HELO that do not appear in our book for CPSL (98.4% of the fund), and 12 for CPSL that do not appear in HELO (99.9%).
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.
You are not choosing between two funds in isolation.
Whichever of CPSL and HELO you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CPSL or HELO?
CPSL has an expense ratio of 0.79% while HELO charges 0.50%. HELO is the cheaper option, by $29 a year on a $10,000 investment.
Which performed better, CPSL or HELO?
Over the past year CPSL returned +5.70% vs +7.68% for HELO, so HELO leads on 1-year performance. Over the longest common window we track (2 years), CPSL annualized +6.37% vs +8.83% for HELO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CPSL or HELO?
HELO has been the more volatile fund at 7.2% annualized versus 2.3% for CPSL. Worst drawdown: CPSL -3.7% vs HELO -10.9%.
Should I hold both CPSL and HELO?
CPSL and HELO have a monthly-return correlation of 0.94, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, CPSL or HELO?
CPSL yields 0.00% while HELO yields 0.57%, so HELO currently pays the higher dividend yield.
Is HELO better than CPSL?
HELO has a lower expense ratio. HELO led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.94. HELO is less concentrated, with 40.1% of the fund in its ten largest positions against 83.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.