J.P. Morgan Asset Management is adding a global flavor to its options-based ETF family. The company launched the JPMorgan International Hedged Equity Laddered Overlay ETF (NYSE:HOLA) on Monday, a fund intended to produce income from foreign equities while mitigating downside risk through a laddered options overlay.
If the ticker didn’t tip it off, this ETF would like to welcome volatility with open arms… and a hedge.
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Hedged Exposure, Global Reach
HOLA pairs a diversified portfolio of international stocks with a laddered options strategy to cushion investors from sudden market plunges. It’s patterned after JPMorgan’s U.S.-centric JPMorgan Hedged Equity Laddered Overlay ETF (NYSE:HELO), which experienced high investor demand for its defined-risk investment strategy during volatile times.
According to the prospectus, the equity selection procedure of HOLA utilizes a proprietary model that favors both overvalued and undervalued stocks. Still, the fund seeks to widely track the MSCI EAFE Index, maintaining regional and sectoral diversification while attempting to outperform the benchmark on a risk-adjusted return basis.
The starting-line top holdings are familiar global giants like ASML Holding NV (NASDAQ:ASML), Nestle, Shell (NYSE:SHEL), and AstraZeneca (NASDAQ:AZN).
Geographically, HOLA leans strongly toward Europe (67.4%), with a large weighting to Japan (21.6%) and Asia-Pacific (9.7%)—including Australia, Hong Kong, Singapore, Macau, and New Zealand.
The ETF has an expense ratio of 0.50% and is actively managed.
HOLA's defining feature is its laddered options overlay, which layers protective puts with staggered expiration dates across the portfolio. This strategy is designed to reduce drawdowns without entirely capping upside, an approach that’s gaining traction as investors seek stability in uncertain markets.
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