HELO vs KAT
JPMorgan Hedged Equity Laddered Overlay ETF vs Scharf ETF
Which is better, HELO or KAT?
HELO has been ahead.
HELO has a lower expense ratio. HELO led over 1Y and the full window. HELO is less concentrated, with 40.1% of the fund in its ten largest positions against 50.9%.
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 | HELO | KAT |
|---|---|---|
| Expense Ratio | 0.50%Best | 0.75% |
| AUM | $4.9B | $657M |
| Dividend Yield | 0.57% | 0.53% |
| Holdings | 156 | 68 |
| YTD Return | +4.91% | +6.42%Best |
| 1Y Return | +7.68%Best | +4.30% |
| 3Y Return (annualized) | +11.88% | - |
| Volatility (annualized) | 7.0%Best | 12.7% |
| Max Drawdown | -5.8%Best | -9.3% |
| $10,000 over 1.1 years | $10,877Best | $10,725 |
| Top 10 Weight | 40.1%Best | 50.9% |
| Fund Family | J.P. Morgan Asset Management | Scharf Funds |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 28, 2023 | Dec 30, 2011 |
Not shown on this pair: 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 1.1 years row, are measured over the window both funds cover: Aug 25, 2025 to Oct 14, 2026 (1.1 years).
HELO vs KAT 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 1.1 years both funds cover.
HELO vs KAT Performance
JPMorgan Hedged Equity Laddered Overlay ETF (HELO) is an ETF from J.P. Morgan Asset Management and Scharf ETF (KAT) is an ETF from Scharf Funds. Over the past year HELO returned +7.68% while KAT returned +4.30%. Year to date, HELO is up 4.91% versus a gain of 6.42% for KAT.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
KAT has been the more volatile fund, with annualized monthly volatility of 12.7% compared with 7.0% 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 -5.8% for HELO and -9.3% for KAT. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.64. They move together some of the time, and apart the rest.
Fees and Cost Over Time
HELO charges 0.50% per year while KAT charges 0.75%. On a $10,000 position that is $50 vs $75 annually, a gap of $25 per year that compounds over a long holding period. On income, HELO currently yields 0.57% against 0.53% for KAT.
Holdings Overlap
16.7% of HELO's money is in holdings KAT also owns. 41.2% of KAT's money is in holdings HELO also owns.
The two portfolios partly overlap.
10 positions in common, counted across the 146 positions we hold weights for in HELO and 31 in KAT, against full books of 156 and 68.
What only one of them owns
Our book lists 16 positions for KAT that do not appear in our book for HELO (45.5% of the fund), and 133 for HELO that do not appear in KAT (81.8%).
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 HELO | Weight in KAT | Difference |
|---|---|---|---|
| MSFTMicrosoft Corp | 6.29% | 6.30% | 0.01% |
| AMZNAmazon.Com Inc | 4.26% | 5.94% | 1.68% |
| METAMeta Platforms Inc | 2.31% | 6.06% | 3.75% |
| UNPUnion Pacific Corp | 0.25% | 5.36% | 5.11% |
| VVisa Inc Class A | 0.96% | 4.50% | 3.54% |
| SCHWSchwab Strategic T | 0.72% | 3.47% | 2.75% |
| DISWalt Disney Co | 0.43% | 2.91% | 2.48% |
| SYKStryker Corp | 0.52% | 2.37% | 1.85% |
| CBChubb Ltd Common Stock Usd 24.15 | 0.29% | 2.51% | 2.22% |
| UNHUnitedhealth Group, Inc. | 0.66% | 1.76% | 1.10% |
41.2% of KAT 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, HELO or KAT?
HELO has an expense ratio of 0.50% while KAT charges 0.75%. HELO is the cheaper option, by $25 a year on a $10,000 investment.
Which performed better, HELO or KAT?
Over the past year HELO returned +7.68% vs +4.30% for KAT, so HELO leads on 1-year performance. Over the longest common window we track (1 years), HELO annualized +7.94% vs +6.57% for KAT. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, HELO or KAT?
KAT has been the more volatile fund at 12.7% annualized versus 7.0% for HELO. Worst drawdown: HELO -5.8% vs KAT -9.3%.
Should I hold both HELO and KAT?
HELO and KAT have a monthly-return correlation of 0.64, 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 HELO and KAT?
41.2% of KAT's money is in holdings HELO also owns. 41.2% of KAT's is in holdings HELO also owns. They hold 10 positions in common, counted across the 146 positions we hold weights for in HELO and 31 in KAT.
Which pays a higher dividend, HELO or KAT?
HELO yields 0.57% while KAT yields 0.53%, so HELO currently pays the higher dividend yield.
Is KAT better than HELO?
HELO has a lower expense ratio. HELO led over 1Y and the full window. HELO is less concentrated, with 40.1% of the fund in its ten largest positions against 50.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.