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

In the 26 weeks the S&P 500 fell, by 1.07% a week on average, CCOR averaged +0.22% and HEQQ −1.03%, so CCOR returned more in those weeks.

Which earned more than cash, CCOR or HEQQ?

Over the same weeks, CCOR finished 3.9 percentage points ahead of cash and HEQQ finished 0.1 percentage points behind cash. Cash here is BIL, a fund of Treasury bills.

Which is cheaper, CCOR or HEQQ?

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

Data as of Nov 4, 2026.

Alternative ETFs

CCOR vs HEQQ: 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 HEQQ: correlation −0.14 against +0.88.

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Net assets: $28m on Jul 31, 2026 for Core Alternative ETF, and $30m on Nov 3, 2026 for JPMorgan Nasdaq Hedged Equity Laddered Overlay ETF.

CCOR on its own →HEQQ on its own →

At a glance

−0.14

CCOR correlation with the S&P 500

+0.88

HEQQ correlation with the S&P 500

−20.7%

CCOR down-week capture

96.6%

HEQQ 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%.

HEQQ Fell with the S&P 500

HEQQ in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, HEQQ −1.03%.

Pair scorecard

HEQQ costs 0.66 points a year less; their one-year returns differ by 3.7 points.

CCOR vs HEQQ: Correlation to the S&P 500
Measure	CCOR	HEQQ
Return
Measure	CCOR	HEQQ
Total return, 1 year	+7.6%	+3.9%
Against its benchmark
Measure	CCOR	HEQQ
Treasury bills, 52 weeks	+3.7%
Cost and size
Measure	CCOR	HEQQ
Expense ratio	1.16%	0.50%
Net assets, CCOR as of Jul 31, 2026 and HEQQ as of Nov 3, 2026	$28m	$30m
Holdings
Measure	CCOR	HEQQ
Holdings in common	not published
Risk
Measure	CCOR	HEQQ
Beta to the S&P 500	−0.10: about 0.10% for each 1%	+0.81: about 0.81% for each 1%
Its average week when the S&P 500 fell	rose 0.22%	fell 1.03%

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

IQ Alternatives Score90.9CCOR36.4HEQQ

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

HEQQ 36.4

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 HEQQ: Correlation to the S&P 500
	Total return		vs its benchmark
Window	CCOR	HEQQ	CCOR	HEQQ
3 months	+3.3%	−1.5%	not measured	−1.4 pts vs VOO
6 months	+6.0%	−1.8%	not measured	−6.8 pts vs VOO
1 year	+7.6%	+3.9%	not measured	−10.9 pts vs VOO
3 years	0.0%	–	not measured	–
Since launchNot the same days: CCOR May 2017 · HEQQ Mar 2025	+21.2%	+20.7%	not measured	−16.9 pts vs VOO

– means no data for this window. Open this comparison in the app →

Side by side

CCOR Core Alternative ETF · Hedged equity fund: owns stocks and pays for protection against a fall, most often with put options HEQQ JPMorgan Nasdaq 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 +0.88

Beta to the S&P 500 −0.10 +0.81

Down-week capture −20.7% 96.6%

Average week when the S&P 500 fell +0.22% −1.03%

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

Total return, same 52 weeks +7.5% +3.6%

Against T-bills, percentage points +3.9 pts −0.1 pts

Expense ratio 1.16% 0.50%

First traded May 24, 2017 Mar 27, 2025

Net assets, CCOR as of Jul 31, 2026 and HEQQ as of Nov 3, 2026 $28m $30m

As of Nov 4, 2026. Source: ETFIQ.

One strategy, two funds

CCOR and HEQQ 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 HEQQ’s +0.88. In the 26 weeks the index fell, by 1.07% a week on average, CCOR averaged +0.22% and HEQQ −1.03%. Over the same weeks, CCOR finished 3.9 percentage points ahead of cash and HEQQ finished 0.1 points behind 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.

HEQQ

HEQQ is a hedged equity fund. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.88 with the S&P 500’s and a beta of +0.81, so for each 1% the index moved it moved about 0.81% the same way. In the same weeks HEQQ fell 1.03% on average, a down-week capture of 96.6%. Over the same 52 weeks HEQQ returned +3.6% and a Treasury bill fund +3.7%, so it finished 0.1 percentage points behind cash.

Questions people ask

Which moved less with the S&P 500, CCOR or HEQQ?: Over the 52 weeks to Nov 4, 2026, CCOR’s weekly returns had a correlation of −0.14 with the S&P 500 and HEQQ’s +0.88, so CCOR moved less with the index.
Which did better when the S&P 500 fell, CCOR or HEQQ?: In the 26 weeks the S&P 500 fell, by 1.07% a week on average, CCOR averaged +0.22% and HEQQ −1.03%, so CCOR returned more in those weeks.
Which earned more than cash, CCOR or HEQQ?: Over the same weeks, CCOR finished 3.9 percentage points ahead of cash and HEQQ finished 0.1 percentage points behind cash. Cash here is BIL, a fund of Treasury bills.
Which is cheaper, CCOR or HEQQ?: CCOR charges 1.16% a year and HEQQ charges 0.50%, so HEQQ is cheaper. Fees come from each fund's prospectus.

Other comparisons

CCOR vs QBUL CCOR vs QTR CCOR vs XTR CCOR vs HELO HEQQ vs QBUL HEQQ vs ZHDG HEQQ vs THEQ HEQQ 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 →HEQQ on its own →CCOR dividend history →HEQQ dividend history →Method →Standards and sources →

Sources and dates

CCOR filings on SEC EDGAR ↗

CCOR prospectus with the expense ratio (SEC) ↗

Core Alternative website ↗

HEQQ filings on SEC EDGAR ↗

HEQQ 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 HEQQ, data as of Nov 4, 2026. https://etfiq.com/compare/alternatives/ccor-vs-heqq

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