GAB vs HELO
Gabelli Equity Trust vs JPMorgan Hedged Equity Laddered Overlay ETF
Which is better, GAB or HELO?
Each has led over a different period.
HELO has a lower expense ratio. GAB led over 3Y, HELO over 1Y and the full window.
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 | GAB | HELO |
|---|---|---|
| Expense Ratio | 1.50% | 0.50%Best |
| AUM | $2.3B | $4.9B |
| Dividend Yield | 10.96% | 0.57% |
| Holdings | 682 | 156 |
| YTD Return | -8.60% | +4.91%Best |
| 1Y Return | -4.60% | +7.68%Best |
| 3Y Return (annualized) | +12.18%Best | +11.88% |
| 5Y Return (annualized) | +4.88% | - |
| Volatility (annualized) | 13.8% | 7.3%Best |
| Max Drawdown | -13.8% | -10.9%Best |
| $10,000 over 3 years | $13,747 | $14,128Best |
| Fund Family | Gabelli Funds | J.P. Morgan Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Aug 21, 1986 | Sep 28, 2023 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 3 years row, are measured over the window both funds cover: Sep 29, 2023 to Oct 14, 2026 (3 years).
GAB 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 3 years both funds cover.
GAB vs HELO Performance
Gabelli Equity Trust (GAB) is an ETF from Gabelli Funds and JPMorgan Hedged Equity Laddered Overlay ETF (HELO) is an ETF from J.P. Morgan Asset Management. Over the past year GAB returned -4.60% while HELO returned +7.68%. Year to date, GAB is down 8.60% versus a gain of 4.91% for HELO.
Over three years, GAB compounded at +12.18% per year against +11.88% for HELO.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
GAB has been the more volatile fund, with annualized monthly volatility of 13.8% compared with 7.3% 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 -13.8% for GAB 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 0.60. They move together some of the time, and apart the rest.
Fees and Cost Over Time
GAB charges 1.50% per year while HELO charges 0.50%. On a $10,000 position that is $150 vs $50 annually, a gap of $100 per year that compounds over a long holding period. On income, GAB currently yields 10.96% against 0.57% for HELO.
Holdings Overlap
At least 73.4% of HELO's money is in holdings GAB also owns.
Only one direction is shown: for GAB, our book for it lists positions totalling 115.3% of the fund, which is what a leveraged book looks like and is not a denominator we can divide by.
Most of HELO is already inside GAB. Owning both mostly buys the same companies twice.
The two holdings books were reported 168 days apart, GAB as of Mar 31, 2026 and HELO as of Sep 15, 2026, so some of the difference between them is the time between the two reports rather than the funds.
78 positions in common, counted across the 655 positions we hold weights for in GAB and 146 in HELO, against full books of 682 and 156.
Top Shared Holdings
| Stock | Weight in GAB | Weight in HELO | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 0.08% | 8.17% | 8.09% |
| AAPLApple Inc | 0.09% | 7.01% | 6.92% |
| MSFTMicrosoft Corp_None_0 | 0.15% | 6.29% | 6.14% |
| BRK.ABerkshire Hathaway Inc | 3.40% | 1.23% | 2.17% |
| AMZNAmazon.Com Inc | 0.13% | 4.26% | 4.13% |
| DEDeere & Co. | 3.16% | 0.64% | 2.52% |
| MAMastercard Inc | 2.49% | 1.24% | 1.25% |
| AXPAmerican Express Co. | 2.66% | 0.25% | 2.41% |
| AVGOBroadcom Inc | 0.10% | 2.64% | 2.54% |
| GOOGAlphabet, Inc.- Cl C | 0.47% | 2.26% | 1.79% |
73.4% of HELO is already inside GAB.
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, GAB or HELO?
GAB has an expense ratio of 1.50% while HELO charges 0.50%. HELO is the cheaper option, by $100 a year on a $10,000 investment.
Which performed better, GAB or HELO?
Over the past year GAB returned -4.60% vs +7.68% for HELO, so HELO leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, GAB or HELO?
GAB has been the more volatile fund at 13.8% annualized versus 7.3% for HELO. Worst drawdown: GAB -13.8% vs HELO -10.9%.
Should I hold both GAB and HELO?
GAB and HELO have a monthly-return correlation of 0.60, 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 GAB and HELO?
At least 73.4% of HELO's money is in holdings GAB also owns. Our book for GAB is partial, so the real figure is this or higher. They hold 78 positions in common, counted across the 655 positions we hold weights for in GAB and 146 in HELO.
Which pays a higher dividend, GAB or HELO?
GAB yields 10.96% while HELO yields 0.57%, so GAB currently pays the higher dividend yield.
Is HELO better than GAB?
HELO has a lower expense ratio. GAB led over 3Y, HELO over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.