ETF Evaluator:
JPMorgan Nasdaq Hdg Eq Ldrd Overlay ETF ()
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(as of Aug 26)
Best Performing in Equity Hedged Over the Last Year
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ETF Details
JPMorgan Nasdaq Hdg Eq Ldrd Overlay ETF Overview
JPMorgan Nasdaq Hdg Eq Ldrd Overlay ETF (HEQQ) is an actively managed Nontraditional Equity Equity Hedged exchange-traded fund (ETF). JPMorgan launched the ETF in 2025.
The investment seeks to provide capital appreciation.
The manager seeks to provide capital appreciation through participation in the broad equity markets while hedging overall market exposure relative to traditional long-only equity strategies. The manager seeks to provide capital appreciation through participation in the broad equity markets while hedging overall market exposure relative to traditional long-only equity strategies. The fund is non-diversified.
About JPMorgan Nasdaq Hdg Eq Ldrd Overlay ETF (HEQQ)
There are 4 members of the management team with an average tenure of 1.35 years: Hamilton Reiner (2025), Eric Moreau (2025), Judy Jansen (2025) and Matthew Bensen (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 1 primary benchmark: NASDAQ 100 TR USD index with a weighting of 100%. JPMorgan Nasdaq Hdg Eq Ldrd Overlay ETF has 107 securities in its portfolio. The top 10 holdings constitute 52.6% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
JPMorgan Nasdaq Hdg Eq Ldrd Overlay ETF is part of the Equity global asset class and is within the Nontraditional Equity ETF group. JPMorgan Nasdaq Hdg Eq Ldrd Overlay ETF has 2.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 96.3% There is 2.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). JPMorgan Nasdaq Hdg Eq Ldrd Overlay ETF has 1.1% of the portfolio in cash.
Assets Under Management
The fund has $29 million in total assets, which is below the $294 million average for the Equity Hedged category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
HEQQ Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The JPMorgan Nasdaq Hdg Eq Ldrd Overlay ETF expense ratio is average compared to funds in the Equity Hedged category. JPMorgan Nasdaq Hdg Eq Ldrd Overlay ETF has an expense ratio of 0.50%, which is 35% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. JPMorgan Nasdaq Hdg Eq Ldrd Overlay ETF has a portfolio turnover rate of 24%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 97% for the Equity Hedged category.
Recently, in the month of July 2026, JPMorgan Nasdaq Hdg Eq Ldrd Overlay ETF returned -2.2%, which earned it a grade of D, as the Equity Hedged category had an average return of -1.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
JPMorgan Nasdaq Hdg Eq Ldrd Overlay ETF has a trailing yield of 0.22%, which is below the 3.45% category average.
The fund normally distributes its income quarterly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
JPMorgan Nasdaq Hdg Eq Ldrd Overlay ETF Grades
Year to date, the ETF has returned 2.7%, 4.5 percentage points worse than the category, which translates into a grade of F. The fund has returned 10.6% over the past year (grade of D).
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HEQQ Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| HEQQ Return (NAV) | -2.2% | -0.7% | 10.6% | na | na | na |
| HEQQ Return (Price) | -1.4% | -0.8% | 10.9% | na | na | na |
| NAV +/- Price Return | -0.814% | 0.094% | -0.287% | na | na | na |
| Equity Hedged Avg | -1.4% | 1.7% | 13.6% | 12.0% | 6.6% | 7.6% |
| HEQQ Grade (NAV) | D | F | D | na | na | na |
| +/- Category (NAV) | -0.8% | -2.3% | -3.0% | na | na | na |
| HEQQ Tax-Cost Ratio | na | na | 0.1% | na | na | na |
HEQQ Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| HEQQ Return (NAV) | 2.7% | na | na | na | na | na | na | na | na | na | na |
| HEQQ Return (Price) | 2.8% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.031% | na | na | na | na | na | na | na | na | na | na |
| Equity Hedged Avg | 7.1% | 12.6% | 14.6% | 14.8% | -12.9% | 15.6% | 10.2% | 9.9% | -6.3% | 12.2% | 3.0% |
| HEQQ Grade (NAV) | F | na | na | na | na | na | na | na | na | na | na |
| +/- Category | -4.5% | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 0.2% |
| Total Assets: | $ 30 Mil |
| Share Class Assets: | $ 30 Mil |
| Turnover: | 24.0% |
| Expense Ratio: | 0.50% |
| Index Fund: | No |
| Index Tracked: | NASDAQ 100 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 1.4 years | |||
| Average Tenure: 1.4 years | |||
| Managers (Year): Reiner Hamilton (2025), Moreau Eric (2025), Jansen Judy (2025), Bensen Matthew (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 107 |
| % in Top 10 Holdings: | 52.6% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 2.6% |
Portfolio Allocation |
|
| Domestic Stock: | 96.3% |
| Foreign Stock: | 2.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | JPMorgan |
| Phone Number: | 844-457-6383 |
| Website: | jpmorganfunds.com |
| Inception Date: | March 26, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.50% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.76% |
