Which did better when the S&P 500 fell, CCOR or HELO?

In the 26 weeks the S&P 500 fell, by 1.07% a week on average, CCOR averaged +0.22% and HELO −0.65%, so CCOR returned more in those weeks.

Which earned more than cash, CCOR or HELO?

Over the same weeks, CCOR finished 3.9 percentage points ahead of cash and HELO finished 3.4 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills.

Which is cheaper, CCOR or HELO?

CCOR charges 1.16% a year and HELO charges 0.50%, so HELO is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Alternative ETFs

CCOR vs HELO: Correlation to the S&P 500

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Over the year to Nov 4, 2026, CCOR moved less with the S&P 500 than HELO: correlation −0.14 against +0.95.

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Net assets: $28m on Jul 31, 2026 for Core Alternative ETF, and $4.9bn on Nov 3, 2026 for JPMorgan Hedged Equity Laddered Overlay ETF.

CCOR on its own →HELO on its own →

At a glance

−0.14

CCOR correlation with the S&P 500

+0.95

HELO correlation with the S&P 500

−20.7%

CCOR down-week capture

60.7%

HELO down-week capture

CCOR Rose when the S&P 500 fell

CCOR in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, CCOR +0.22%.

HELO Fell 61% as much as the S&P 500

HELO in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, HELO −0.65%.

Pair scorecard

HELO costs 0.66 points a year less; their one-year returns differ by 0.4 points.

CCOR vs HELO: Correlation to the S&P 500
Measure	CCOR	HELO
Return
Measure	CCOR	HELO
Total return, 1 year	+7.6%	+7.2%
Against its benchmark
Measure	CCOR	HELO
Treasury bills, 52 weeks	+3.7%
Cost and size
Measure	CCOR	HELO
Expense ratio	1.16%	0.50%
Net assets, CCOR as of Jul 31, 2026 and HELO as of Nov 3, 2026	$28m	$4.9bn
Holdings
Measure	CCOR	HELO
Holdings in common	not published
Risk
Measure	CCOR	HELO
Beta to the S&P 500	−0.10: about 0.10% for each 1%	+0.59: about 0.59% for each 1%
Its average week when the S&P 500 fell	rose 0.22%	fell 0.65%

ETFIQ Stock Diversification Score · CCOR scores higher How much does it diversify a stock portfolio?

IQ Alternatives Score90.9CCOR38.7HELO

How much it diversifies a stock portfolio, ranked against 22 equity hedged alternatives ETFs with a full year. 100 is best. How it is computed

CCOR 90.9

HELO 38.7

4.5, the lowest in this set 95.5, the highest

One year of weekly moves against the S&P 500, within one strategy; it ignores what the fund returned. All alternatives ETFs ranked by it →

Method

Window by window

Window by window: CCOR vs HELO: Correlation to the S&P 500
	Total return		vs its benchmark
Window	CCOR	HELO	CCOR	HELO
3 months	+3.3%	+0.2%	not measured	+0.3 pts vs VOO
6 months	+6.0%	+3.1%	not measured	−1.9 pts vs VOO
1 year	+7.6%	+7.2%	not measured	−7.6 pts vs VOO
3 years	0.0%	+40.1%	not measured	−43.2 pts vs VOO
Since launchNot the same days: CCOR May 2017 · HELO Sep 2023	+21.2%	+42.5%	not measured	−43.9 pts vs VOO

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Side by side

CCOR Core Alternative ETF · Hedged equity fund: owns stocks and pays for protection against a fall, most often with put options HELO JPMorgan Hedged Equity Laddered Overlay ETF · Hedged equity fund: owns stocks and pays for protection against a fall, most often with put options

Issuer Core Alternative JPMorgan

Strategy Hedged equity Hedged equity

Correlation with the S&P 500 −0.14 +0.95

Beta to the S&P 500 −0.10 +0.59

Down-week capture −20.7% 60.7%

Average week when the S&P 500 fell +0.22% −0.65%

The S&P 500 in those weeks −1.07% −1.07%

Total return, same 52 weeks +7.5% +7.0%

Against T-bills, percentage points +3.9 pts +3.4 pts

Expense ratio 1.16% 0.50%

First traded May 24, 2017 Sep 29, 2023

Net assets, CCOR as of Jul 31, 2026 and HELO as of Nov 3, 2026 $28m $4.9bn

As of Nov 4, 2026. Source: ETFIQ.

One strategy, two funds

CCOR and HELO both run a hedged equity strategy. Over the same 52 weeks to Nov 4, 2026, CCOR’s weekly returns had a correlation of −0.14 with the S&P 500 and HELO’s +0.95. In the 26 weeks the index fell, by 1.07% a week on average, CCOR averaged +0.22% and HELO −0.65%. Over the same weeks, CCOR finished 3.9 percentage points ahead of cash and HELO finished 3.4 points ahead of cash.

Alert

About each fund

CCOR

CCOR is a hedged equity fund. ETFIQ measures what every alternatives fund is sold on: whether it moves differently from the stock market. Over the year to Nov 4, 2026, its weekly returns had a correlation of −0.14 with the S&P 500’s and a beta of −0.10, so for each 1% the index moved it moved about 0.10% the other way. The S&P 500 fell in 26 of those 52 weeks, by 1.07% on average. In the same weeks CCOR rose 0.22% on average, a down-week capture of −20.7%. Over the same 52 weeks CCOR returned +7.5% and a Treasury bill fund +3.7%, so it finished 3.9 percentage points ahead of cash.

HELO

HELO is a hedged equity fund. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.95 with the S&P 500’s and a beta of +0.59, so for each 1% the index moved it moved about 0.59% the same way. In the same weeks HELO fell 0.65% on average, a down-week capture of 60.7%. Over the same 52 weeks HELO returned +7.0% and a Treasury bill fund +3.7%, so it finished 3.4 percentage points ahead of cash.

Questions people ask

Which moved less with the S&P 500, CCOR or HELO?: Over the 52 weeks to Nov 4, 2026, CCOR’s weekly returns had a correlation of −0.14 with the S&P 500 and HELO’s +0.95, so CCOR moved less with the index.
Which did better when the S&P 500 fell, CCOR or HELO?: In the 26 weeks the S&P 500 fell, by 1.07% a week on average, CCOR averaged +0.22% and HELO −0.65%, so CCOR returned more in those weeks.
Which earned more than cash, CCOR or HELO?: Over the same weeks, CCOR finished 3.9 percentage points ahead of cash and HELO finished 3.4 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills.
Which is cheaper, CCOR or HELO?: CCOR charges 1.16% a year and HELO charges 0.50%, so HELO is cheaper. Fees come from each fund's prospectus.

Other comparisons

CCOR vs HEGD CCOR vs PHEQ CCOR vs KSPY CCOR vs TOAK HELO vs QBUL HELO vs HEQQ HELO vs ZHDG HELO vs QBER

Where to next

BIL, the T-bill fund these are measured against →SPY, the S&P 500 fund these are measured against →CCOR on its own →HELO on its own →CCOR dividend history →HELO dividend history →Method →Standards and sources →

Sources and dates

CCOR filings on SEC EDGAR ↗

CCOR prospectus with the expense ratio (SEC) ↗

Core Alternative website ↗

HELO filings on SEC EDGAR ↗

HELO prospectus with the expense ratio (SEC) ↗

JPMorgan website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, CCOR against HELO, data as of Nov 4, 2026. https://etfiq.com/compare/alternatives/ccor-vs-helo

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