{"url":"https://etfiq.com/compare/alternatives/helo-vs-toak","section":"compare","title":"HELO vs TOAK: Correlation to the S&P 500 | ETFIQ","description":"HELO and TOAK both run hedged equity strategies. Over the year to Oct 27, 2026, HELO had a correlation of +0.94 with the S&P 500 and TOAK +0.17.","as_of":"Oct 27, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which moved less with the S&P 500, HELO or TOAK?","acceptedAnswer":{"@type":"Answer","text":"Over the 52 weeks to Oct 27, 2026, HELO\u2019s weekly returns had a correlation of +0.94 with the S&P 500 and TOAK\u2019s +0.17, so TOAK moved less with the index."}},{"@type":"Question","name":"Which did better when the S&P 500 fell, HELO or TOAK?","acceptedAnswer":{"@type":"Answer","text":"In the 25 weeks the S&P 500 fell, by 1.10% a week on average, HELO averaged \u22120.61% and TOAK \u22120.02%, so TOAK returned more in those weeks."}},{"@type":"Question","name":"Which earned more than cash, HELO or TOAK?","acceptedAnswer":{"@type":"Answer","text":"Over the same weeks, HELO finished 2.6 percentage points ahead of cash and TOAK finished 0.1 percentage points behind cash. Cash here is BIL, a fund of Treasury bills."}},{"@type":"Question","name":"Which is cheaper, HELO or TOAK?","acceptedAnswer":{"@type":"Answer","text":"HELO charges 0.50% a year and TOAK charges 0.26%, so TOAK is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Alternatives ETFs","item":"https://etfiq.com/alternatives/"},{"@type":"ListItem","position":3,"name":"Compare ETFs","item":"https://etfiq.com/compare/"},{"@type":"ListItem","position":4,"name":"HELO vs TOAK","item":"https://etfiq.com/compare/alternatives/helo-vs-toak"}]},{"@type":"WebPage","name":"HELO vs TOAK: Correlation to the S&P 500","description":"HELO and TOAK both run hedged equity strategies. Over the year to Oct 27, 2026, HELO had a correlation of +0.94 with the S&P 500 and TOAK +0.17.","url":"https://etfiq.com/compare/alternatives/helo-vs-toak","dateModified":"2026-10-27","abstract":"Over the year to Oct 27, 2026, TOAK moved less with the S&P 500 than HELO: correlation +0.17 against +0.94.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of HELO and TOAK","description":"HELO and TOAK both run hedged equity strategies. Over the year to Oct 27, 2026, HELO had a correlation of +0.94 with the S&P 500 and TOAK +0.17.","dateModified":"2026-10-27","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/alternatives/helo-vs-toak","license":"https://etfiq.com/license/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/alternatives.json"}],"variableMeasured":["Correlation with the S&P 500","Beta to the S&P 500","Down-week capture","Average week when the S&P 500 fell","Return against T-bills","Total return","Strategy","Expense ratio"],"keywords":["exchange-traded funds","ETF","Alternatives ETFs","fund data","SEC filings"]}],"characters":7056,"truncated":true,"content":"ETFIQ / Alternatives ETFs / Compare ETFs / HELO vs TOAK \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Oct 27, 2026 .\n\n HELO vs TOAK: Correlation to the S&P 500\n\n Over the year to Oct 27, 2026, TOAK moved less with the S&P 500 than HELO: correlation +0.17 against +0.94.\n Copy this for sharing \n \n TOAK costs 0.24 points a year less; their one-year returns differ by 2.8 points.\n HELO and TOAK at a glance. As of Oct 27, 2026. Source: ETFIQ. HELO TOAK \n Expense ratio 0.50% 0.26% \n Net assets, HELO as of Oct 26, 2026 and TOAK as of May 31, 2026 $4.9bn $90m \n Total return, 1 year +6.4% +3.6%","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, HELO against TOAK, data as of Oct 27, 2026. https://etfiq.com/compare/alternatives/helo-vs-toak","a":{"ticker":"HELO","name":"JPMorgan Hedged Equity Laddered Overlay ETF","issuer":"JPMorgan","desk":"alternatives","as_of":"2026-10-27","verdict":"Over the year to Oct 27, 2026, HELO returned 6.4%, against 13.6% for VOO.","url":"https://etfiq.com/funds/helo","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.94","as_of":"2026-10-27","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.56","as_of":"2026-10-27","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"55.6%","as_of":"2026-10-27","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"+2.6 pts","as_of":"2026-10-27","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"0.6%","as_of":"2026-10-27","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment (paid quarterly), ex-date Sep 22, 2026","value":"$0.0907","as_of":"2026-09-22","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$4.9bn","as_of":"2026-10-26","source":"issuer page, as of Oct 26, 2026"},{"label":"Expense ratio","value":"0.50%","as_of":"2026-04-30","source":"497 XBRL, Apr 30, 2026"}]},"b":{"ticker":"TOAK","name":"Manager Directed Portfolios Twin Oak Short Horizon Absolute Return ETF","issuer":"Manager Directed Portfolios","desk":"alternatives","as_of":"2026-10-27","verdict":"Over the year to Oct 27, 2026, TOAK returned 3.6%. When the S&P 500 fell, it fell 2% as much.","url":"https://etfiq.com/funds/toak","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.17","as_of":"2026-10-27","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.04","as_of":"2026-10-27","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"1.9%","as_of":"2026-10-27","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"\u22120.1 pts","as_of":"2026-10-27","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Net assets","value":"$90m","as_of":"2026-05-31","source":"SEC N-PORT, whole fund, as filed for May 31, 2026"},{"label":"Expense ratio","value":"0.26%","as_of":"2026-09-25","source":"485BPOS XBRL, Sep 25, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/alternatives/helo-vs-toak"}