HELO vs. TCAF ETF Comparison

Comparison of JPMorgan Hedged Equity Laddered Overlay ETF (HELO) to T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Capital Appreciation Equity ETF (TCAF)

HELO

JPMorgan Hedged Equity Laddered Overlay ETF

HELO Description

The fund seeks to provide capital appreciation through participation in the broad equity markets while hedging overall market exposure relative to traditional long-only equity strategies. Under normal circumstances, it invests at least 80% of its assets in equity securities. The fund uses an enhanced index strategy to invest in equity securities similar to those in the S&P 500 Index, which primarily consist of common stocks of large capitalization U.S. companies.

Grade (RS Rating)

Last Trade

$62.66

Average Daily Volume

282,728

Number of Holdings ^*

161

* may have additional holdings in another (foreign) market

TCAF

T. Rowe Price Exchange-Traded Funds, Inc. T. Rowe Price Capital Appreciation Equity ETF

TCAF Description

The fund normally invests at least 80% of its net assets (including any borrowings for investment purposes) in equity securities. The fund may purchase the stocks of companies of any size, but typically focuses on large U.S. companies. The fund may at times invest significantly in certain sectors, including the information technology and healthcare sectors. It is non-diversified.

Grade (RS Rating)

Last Trade

$33.89

Average Daily Volume

565,915

Number of Holdings ^*

* may have additional holdings in another (foreign) market

Performance

Period	HELO	TCAF
30 Days	1.57%	1.74%
60 Days	3.39%	2.92%
90 Days	4.59%	3.99%
12 Months	20.91%	28.41%

45 Overlapping Holdings

Symbol	Grade	Weight in HELO	Weight in TCAF	Overlap
AAPL	C	6.83%	5.34%	5.34%
ABBV	D	1.14%	0.67%	0.67%
ABT	B	0.19%	1.24%	0.19%
ACN	C	0.21%	0.25%	0.21%
AMD	F	0.45%	1.02%	0.45%
AME	A	0.06%	0.2%	0.06%
AMZN	C	4.5%	4.51%	4.5%
AVGO	D	1.02%	1.39%	1.02%
BIIB	F	0.12%	0.53%	0.12%
BKNG	A	0.75%	0.34%	0.34%
CDNS	B	0.17%	0.12%	0.12%
CME	A	0.59%	0.24%	0.24%
CMG	B	0.51%	0.16%	0.16%
CMS	C	0.1%	0.82%	0.1%
CRM	B	1.15%	1.63%	1.15%
CSX	B	0.41%	0.28%	0.28%
DHR	F	0.44%	2.63%	0.44%
DIS	B	0.31%	0.14%	0.14%
GOOGL	C	2.09%	3.12%	2.09%
GS	A	0.75%	0.1%	0.1%
HLT	A	0.36%	0.92%	0.36%
HUM	C	0.16%	0.55%	0.16%
INTU	C	0.51%	1.55%	0.51%
IR	B	0.23%	1.19%	0.23%
KKR	A	0.2%	0.49%	0.2%
LIN	D	0.82%	1.24%	0.82%
LLY	F	1.07%	1.5%	1.07%
LRCX	F	0.37%	0.32%	0.32%
MA	C	1.72%	1.53%	1.53%
MCD	D	0.81%	0.78%	0.78%
MCK	B	0.16%	1.05%	0.16%
META	D	2.9%	2.3%	2.3%
MLM	B	0.16%	1.2%	0.16%
MMC	B	0.14%	0.98%	0.14%
MSFT	F	7.13%	8.23%	7.13%
NOC	D	0.17%	1.18%	0.17%
NVDA	C	7.8%	6.12%	6.12%
NXPI	D	0.72%	0.53%	0.53%
SBAC	D	0.31%	0.55%	0.31%
SYK	C	0.76%	0.15%	0.15%
TMO	F	0.89%	0.93%	0.89%
TT	A	0.96%	0.05%	0.05%
UNH	C	1.62%	2.95%	1.62%
V	A	1.49%	1.44%	1.44%
YUM	B	0.5%	1.04%	0.5%

HELO Overweight 116 Positions Relative to TCAF

Symbol	Grade	Weight
TSLA	B	1.58%
BRK.A	B	1.53%
GOOG	C	1.46%
XOM	B	1.43%
BAC	A	1.26%
WFC	A	1.0%
LOW	D	0.99%
HON	B	0.98%
NOW	A	0.94%
TXN	C	0.87%
SO	D	0.84%
NEE	D	0.83%
PEP	F	0.83%
COP	C	0.81%
PGR	A	0.75%
ADI	D	0.72%
MDLZ	F	0.72%
CMCSA	B	0.71%
BMY	B	0.68%
DE	A	0.68%
AZO	C	0.65%
KO	D	0.63%
HWM	A	0.62%
VRTX	F	0.6%
UBER	D	0.58%
MU	D	0.57%
TFC	A	0.56%
UPS	C	0.54%
COST	B	0.53%
BSX	B	0.52%
TDG	D	0.52%
FIS	C	0.52%
JNJ	D	0.51%
PLD	D	0.5%
OTIS	C	0.5%
PCG	A	0.5%
CTSH	B	0.49%
FITB	A	0.48%
CPAY	A	0.47%
EOG	A	0.47%
CARR	D	0.46%
MDT	D	0.46%
REGN	F	0.45%
AON	A	0.44%
ROST	C	0.44%
SCHW	B	0.42%
STX	D	0.41%
LDOS	C	0.39%
DLR	B	0.39%
VTR	C	0.39%
ETN	A	0.38%
ORCL	B	0.36%
DOW	F	0.35%
TRV	B	0.34%
RCL	A	0.34%
CI	F	0.34%
FDX	B	0.33%
USB	A	0.33%
PM	B	0.32%
MNST	C	0.32%
FANG	D	0.31%
MET	A	0.3%
C	A	0.3%
CHD	B	0.3%
EXPE	B	0.29%
TXT	D	0.29%
WELL	A	0.27%
KVUE	A	0.26%
CHTR	C	0.25%
BKR	B	0.24%
BURL	A	0.24%
MRK	F	0.24%
LYB	F	0.23%
DAL	C	0.23%
MAS	D	0.23%
PPG	F	0.21%
AXP	A	0.21%
BBY	D	0.2%
AMP	A	0.2%
ELS	C	0.19%
CVX	A	0.18%
HPE	B	0.18%
PCAR	B	0.18%
ADBE	C	0.18%
WDC	D	0.18%
T	A	0.18%
MSI	B	0.17%
UNP	C	0.17%
TMUS	B	0.17%
MO	A	0.15%
ANET	C	0.15%
LEN	D	0.14%
PG	A	0.14%
TGT	F	0.14%
SQ	B	0.14%
URI	B	0.13%
LULU	C	0.13%
PFG	D	0.13%
FICO	B	0.12%
NUE	C	0.11%
HCA	F	0.11%
DASH	A	0.11%
VST	B	0.1%
APTV	D	0.1%
WMG	C	0.1%
NBIX	C	0.08%
EQIX	A	0.07%
SIRI	C	0.07%
EQT	B	0.06%
BAX	D	0.06%
MRVL	B	0.06%
EL	F	0.05%
NRG	B	0.04%
BMRN	D	0.03%
SRPT	D	0.03%
LKQ	D	0.02%

HELO Underweight 48 Positions Relative to TCAF

Symbol	Grade	Weight
FTV	C	-2.71%
BDX	F	-2.48%
RVTY	F	-2.44%
AEE	A	-1.91%
ROP	B	-1.74%
PTC	A	-1.67%
WCN	A	-1.64%
CNP	B	-1.49%
VLTO	D	-1.49%
RTX	C	-1.47%
DTE	C	-1.31%
NI	A	-1.09%
ICE	C	-1.06%
ADSK	A	-0.95%
TDY	B	-0.71%
AMT	D	-0.7%
SCI	B	-0.68%
AVTR	F	-0.67%
ELV	F	-0.67%
AJG	B	-0.62%
GEHC	F	-0.54%
KDP	D	-0.46%
RSG	A	-0.44%
AUR	C	-0.41%
SBUX	A	-0.38%
NKE	D	-0.36%
EXC	C	-0.34%
IEX	B	-0.33%
ANSS	B	-0.32%
MAR	B	-0.28%
ARGX	A	-0.26%
DLTR	F	-0.25%
WTW	B	-0.21%
MS	A	-0.2%
SPGI	C	-0.2%
SLB	C	-0.15%
MSCI	C	-0.14%
LNT	A	-0.12%
KLAC	D	-0.12%
WEC	A	-0.12%
XEL	A	-0.11%
VMC	B	-0.11%
TW	A	-0.1%
INFA	D	-0.1%
PNC	B	-0.1%
BA	F	-0.09%
TYL	B	-0.06%
APH	A	-0.04%