PZA vs HELO

Comparison between INVESCO NATIONAL AMT-FREE MUNICIPAL BOND ETF (PZA, ETF) and JPMORGAN HEDGED EQUITY LADDERED OVERLAY ETF (HELO, ETF).

PZA vs HELO - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	PZA(ETF)	HELO(ETF)
Net Assets	$4.10B	$4.10B
Expense Ratio	0.28%	0.50%
Max Drawdown	27.00%	11.02%
Sharpe Ratio	1.15	0.87
5Y Beta	0.04	0.47
P/E Ratio	N/A	26.75
Forward P/E	N/A	20.92
PEG Ratio	N/A	0.52
5Y Dividends CAGR	7.49%	N/A
5Y EPS CAGR	N/A	27.02%
Debt to Equity	N/A	7.94%
P/S Ratio	N/A	3.91
P/B Ratio	N/A	5.58

Net Assets

PZA

$4.10B

HELO

$4.10B

Expense Ratio

Winner

PZA

0.28%

HELO

0.50%

Max Drawdown

PZA

27.00%

Winner

HELO

11.02%

Sharpe Ratio

Winner

PZA

1.15

HELO

0.87

5Y Beta

Winner

PZA

0.04

HELO

0.47

P/E Ratio

PZA

N/A

HELO

26.75

Forward P/E

PZA

N/A

HELO

20.92

PEG Ratio

PZA

N/A

HELO

0.52

5Y Dividends CAGR

PZA

7.49%

HELO

N/A

5Y EPS CAGR

PZA

N/A

HELO

27.02%

Debt to Equity

PZA

N/A

HELO

7.94%

P/S Ratio

PZA

N/A

HELO

3.91

P/B Ratio

PZA

N/A

HELO

5.58

PZA vs HELO - Historical Returns

Returns include dividend reinvestment.

Period	PZA	HELO
1 month	+0.71%	-0.49%
3 months	+1.55%	+3.35%
6 months	+2.78%	+1.93%
1 year	+8.22%	+9.19%
5 years(CAGR)	-0.15%	N/A
10 years(CAGR)	+1.78%	N/A
Max(CAGR)	+3.23%	+12.45%

Winner

PZA

+0.71%

HELO

-0.49%

PZA

+1.55%

Winner

HELO

+3.35%

Winner

PZA

+2.78%

HELO

+1.93%

PZA

+8.22%

Winner

HELO

+9.19%

5Y(CAGR)

PZA

-0.15%

HELO

N/A

10Y(CAGR)

PZA

+1.78%

HELO

N/A

Max(CAGR)

PZA

+3.23%

Winner

HELO

+12.45%

PZA vs HELO - Annual Returns (2007 - 2026)

Returns include dividend reinvestment.

Year	PZA	HELO
2026	+2.03%	+1.48%
2025	+1.38%	+8.10%
2024	+0.81%	+18.31%
2023	+7.75%	+6.30%
2022	-13.00%	N/A
2021	+2.26%	N/A
2020	+4.91%	N/A
2019	+8.48%	N/A
2018	+0.07%	N/A
2017	+6.78%	N/A
2016	+0.62%	N/A
2015	+3.65%	N/A
2014	+15.05%	N/A
2013	-6.96%	N/A
2012	+9.84%	N/A
2011	+13.58%	N/A
2010	-0.41%	N/A
2009	+17.92%	N/A
2008	-12.12%	N/A
2007	+0.75%	N/A

PZA vs HELO Drawdown Comparison

The maximum drawdown for PZA was -24.48%, occurring on Oct 15, 2008. Recovery took 416 trading sessions.

The maximum drawdown for HELO was -10.89%, occurring on Apr 8, 2025. Recovery took 120 trading sessions.

The current PZA drawdown is -1.26%. The current HELO drawdown is -1.07%.

Rank	PZA	HELO
#1	-24.48% Jan 17, 2008 - Sep 11, 2009	-10.89% Feb 19, 2025 - Aug 12, 2025
#2	-21.69% Mar 9, 2020 - Dec 7, 2020	-5.76% Feb 9, 2026 - Apr 22, 2026
#3	-18.55% Jul 19, 2021 - Oct 25, 2022	-4.16% Jul 16, 2024 - Aug 16, 2024
#4	-12.46% Nov 30, 2012 - Jul 14, 2014	-3.60% Oct 17, 2023 - Nov 3, 2023
#5	-11.77% May 10, 2010 - Aug 3, 2011	-2.93% Mar 28, 2024 - May 6, 2024
#6	-7.07% Jul 8, 2016 - Aug 29, 2017	-2.71% Aug 30, 2024 - Sep 19, 2024
#7	-4.07% Oct 1, 2009 - Apr 27, 2010	-2.56% Dec 26, 2024 - Jan 23, 2025
#8	-3.43% Feb 2, 2015 - Nov 19, 2015	-2.38% Nov 12, 2025 - Nov 25, 2025
#9	-2.99% Dec 29, 2017 - Jan 2, 2019	-2.21% Dec 5, 2024 - Dec 26, 2024
#10	-2.99% Oct 24, 2007 - Jan 2, 2008	-2.09% Jan 12, 2026 - Jan 27, 2026
#11	-2.80% Feb 10, 2021 - May 28, 2021	-1.81% Dec 11, 2025 - Dec 22, 2025
#12	-2.29% Sep 22, 2011 - Dec 14, 2011	-1.72% Jun 1, 2026 - Jun 10, 2026
#13	-1.72% Sep 3, 2019 - Jan 6, 2020	-1.50% Oct 29, 2024 - Nov 6, 2024
#14	-1.72% Oct 15, 2014 - Dec 12, 2014	-1.45% Jan 23, 2025 - Feb 19, 2025
#15	-1.58% Feb 2, 2012 - Apr 13, 2012	-1.34% Oct 6, 2025 - Oct 20, 2025

Correlation

Correlation between PZA and HELO is 0.77 which considered as a strong positive correlation - the stocks tend to move together.

0.77

-101

Dividend Comparison (2007 - 2026)

PZA vs HELO dividend yield comparison.

Year	PZA	HELO
2026	1.53%	0.10%
2025	3.55%	0.67%
2024	3.22%	0.60%
2023	2.91%	0.19%
2022	2.68%	0.00%
2021	2.34%	0.00%
2020	2.44%	0.00%
2019	2.81%	0.00%
2018	3.19%	0.00%
2017	3.04%	0.00%
2016	3.23%	0.00%
2015	3.59%	0.00%
2014	3.96%	0.00%
2013	4.27%	0.00%
2012	4.11%	0.00%
2011	4.48%	0.00%
2010	4.90%	0.00%
2009	4.68%	0.00%
2008	5.07%	0.00%
2007	0.93%	0.00%