INCM vs. HELO ETF Comparison

Comparison of Franklin Income Focus ETF (INCM) to JPMorgan Hedged Equity Laddered Overlay ETF (HELO)

INCM

Franklin Income Focus ETF

INCM Description

Under normal market conditions, the fund invests in a diversified portfolio of debt and equity securities. The fund may invest up to 30% of its assets in equity index-linked notes, with respect to which interest payments are typically derived from the implied volatility of an equity index (e.g., the S&P 500 Index) and 10% of its assets in equity linked notes (ELNs).

Grade (RS Rating)

Last Trade

$26.99

Average Daily Volume

143,711

Number of Holdings ^*

* may have additional holdings in another (foreign) market

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

Performance

Period	INCM	HELO
30 Days	0.27%	1.57%
60 Days	0.52%	3.39%
90 Days	1.34%	4.59%
12 Months	13.81%	20.91%

21 Overlapping Holdings

Symbol	Grade	Weight in INCM	Weight in HELO	Overlap
ABBV	D	0.74%	1.14%	0.74%
ADI	D	0.98%	0.72%	0.72%
BAC	A	1.17%	1.26%	1.17%
C	A	0.01%	0.3%	0.01%
CMCSA	B	0.0%	0.71%	0.0%
COP	C	0.41%	0.81%	0.41%
CVX	A	1.71%	0.18%	0.18%
HON	B	0.86%	0.98%	0.86%
JNJ	D	1.22%	0.51%	0.51%
KO	D	0.75%	0.63%	0.63%
MRK	F	0.01%	0.24%	0.01%
MSFT	F	0.15%	7.13%	0.15%
NEE	D	0.47%	0.83%	0.47%
NEE	D	0.51%	0.83%	0.51%
PEP	F	0.75%	0.83%	0.75%
PG	A	1.04%	0.14%	0.14%
PM	B	0.92%	0.32%	0.32%
SO	D	0.81%	0.84%	0.81%
TFC	A	0.66%	0.56%	0.56%
USB	A	0.81%	0.33%	0.33%
XOM	B	1.51%	1.43%	1.43%

INCM Overweight 21 Positions Relative to HELO

Symbol	Grade	Weight
JPM	A	1.54%
DUK	C	1.13%
LMT	D	0.9%
APD	A	0.81%
HD	A	0.81%
JCI	C	0.78%
BHP	F	0.76%
VZ	C	0.74%
PFE	D	0.69%
TTE	F	0.66%
ALB	C	0.63%
RTX	C	0.59%
ITW	B	0.56%
CSCO	B	0.54%
SBUX	A	0.49%
MCHP	D	0.45%
MS	A	0.4%
BA	F	0.39%
SRE	A	0.3%
XEL	A	0.3%
EIX	B	0.28%

INCM Underweight 141 Positions Relative to HELO

Symbol	Grade	Weight
NVDA	C	-7.8%
AAPL	C	-6.83%
AMZN	C	-4.5%
META	D	-2.9%
GOOGL	C	-2.09%
MA	C	-1.72%
UNH	C	-1.62%
TSLA	B	-1.58%
BRK.A	B	-1.53%
V	A	-1.49%
GOOG	C	-1.46%
CRM	B	-1.15%
LLY	F	-1.07%
AVGO	D	-1.02%
WFC	A	-1.0%
LOW	D	-0.99%
TT	A	-0.96%
NOW	A	-0.94%
TMO	F	-0.89%
TXN	C	-0.87%
LIN	D	-0.82%
MCD	D	-0.81%
SYK	C	-0.76%
BKNG	A	-0.75%
GS	A	-0.75%
PGR	A	-0.75%
NXPI	D	-0.72%
MDLZ	F	-0.72%
BMY	B	-0.68%
DE	A	-0.68%
AZO	C	-0.65%
HWM	A	-0.62%
VRTX	F	-0.6%
CME	A	-0.59%
UBER	D	-0.58%
MU	D	-0.57%
UPS	C	-0.54%
COST	B	-0.53%
BSX	B	-0.52%
TDG	D	-0.52%
FIS	C	-0.52%
INTU	C	-0.51%
CMG	B	-0.51%
PLD	D	-0.5%
OTIS	C	-0.5%
PCG	A	-0.5%
YUM	B	-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%
AMD	F	-0.45%
DHR	F	-0.44%
AON	A	-0.44%
ROST	C	-0.44%
SCHW	B	-0.42%
STX	D	-0.41%
CSX	B	-0.41%
LDOS	C	-0.39%
DLR	B	-0.39%
VTR	C	-0.39%
ETN	A	-0.38%
LRCX	F	-0.37%
ORCL	B	-0.36%
HLT	A	-0.36%
DOW	F	-0.35%
TRV	B	-0.34%
RCL	A	-0.34%
CI	F	-0.34%
FDX	B	-0.33%
MNST	C	-0.32%
SBAC	D	-0.31%
FANG	D	-0.31%
DIS	B	-0.31%
MET	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%
LYB	F	-0.23%
IR	B	-0.23%
DAL	C	-0.23%
MAS	D	-0.23%
PPG	F	-0.21%
ACN	C	-0.21%
AXP	A	-0.21%
BBY	D	-0.2%
AMP	A	-0.2%
KKR	A	-0.2%
ABT	B	-0.19%
ELS	C	-0.19%
HPE	B	-0.18%
PCAR	B	-0.18%
ADBE	C	-0.18%
WDC	D	-0.18%
T	A	-0.18%
MSI	B	-0.17%
NOC	D	-0.17%
CDNS	B	-0.17%
UNP	C	-0.17%
TMUS	B	-0.17%
MCK	B	-0.16%
MLM	B	-0.16%
HUM	C	-0.16%
MO	A	-0.15%
ANET	C	-0.15%
LEN	D	-0.14%
MMC	B	-0.14%
TGT	F	-0.14%
SQ	B	-0.14%
URI	B	-0.13%
LULU	C	-0.13%
PFG	D	-0.13%
BIIB	F	-0.12%
FICO	B	-0.12%
NUE	C	-0.11%
HCA	F	-0.11%
DASH	A	-0.11%
VST	B	-0.1%
CMS	C	-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%
AME	A	-0.06%
EL	F	-0.05%
NRG	B	-0.04%
BMRN	D	-0.03%
SRPT	D	-0.03%
LKQ	D	-0.02%