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HELO is a laddered ETF. JHQAX may be viewed as one of the three components of HELO but not exactly in that HELO is not a Fund of funds. JPM website has detailed info on both and is instructive to read there than anyone here can / should explain.
Comments
I would just add, a cursory look at the two shows a variance in ERs, with very similar holdings/weightings and (it follows) very similar performance.