Launch Roundup
Subversive ETFs listed S&P 500 and Nasdaq-100 funds that exclude Elon Musk's companies
GraniteShares HIPS US High Income ETF
$10.58+0.01 (+0.09%)
- 1.17%
- $95M
- +3.0%
- 12.20%
- 0.1M sh
- $10.59
- low $10.47high $12.30
The ETF.net HIPS Grade
D
Score 32 out of 100
- 14 of 15
Score 32 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F11 out of 100Rank 13 of 15Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.F14 out of 100Rank 15 of 15Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B56 out of 100Rank 5 of 15Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A73 out of 100Rank 3 of 13Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A70 out of 100Rank 6 of 15
Our read on HIPS
DHIPS shops in a corner most index funds skip: a roughly 40-name basket of US pass-through securities, screened for lower volatility, paying out monthly. Income mandate first, cheap beta second.
The fund passively seeks to track, before fees and expenses, the EQM High Income Pass-Through Securities Index, using replication or representative sampling of its components.
Why people hold it
- One ticket to the pass-through corner of the US market: it tracks the EQM High Income Pass-Through Securities Index instead of a plain-vanilla stock benchmark.graniteshares.com
- Distributions land monthly, which matches how income spenders actually budget.
- Rules first: passive replication or sampling of the index, with a volatility screen written into the methodology rather than left to a manager's discretion.graniteshares.com
- Live since 2015, so this is a seasoned niche product with a decade-plus track record, not a fresh launch chasing a theme.
Worth knowing
- Cost is the headline trade-off: 1.17% a year against a 0.45% median for index trackers in its peer group, one of the steepest fees among them.
- Concentrated by design: about 40 yield-heavy names, so a single holding or sector stumble carries far more weight than in a broad market fund.
- Smaller and only moderately traded next to mainstream index funds, which can mean wider bid-ask spreads at the moment you place an order.
HIPS Holdings
- Stocks
- 41
- 29%
- DMLP
Sectors
- Financials34.2%
- Energy32.1%
- Real Estate30.0%
- Materials3.7%
- Communication0.0%
- Technology0.0%
Geography
- United States100.00%
HIPS Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
HIPS$10,303
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | HIPS |
|---|---|
| Year to date | −1.7% |
| 1 month | −7.8% |
| 3 months | −6.2% |
| 1 year | +3.0% |
| 3 years | +6.8% |
| 5 years | +2.5% |
| 10 years | +4.4% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | HIPS |
|---|---|---|
| 2026 YTD | −1.7% | |
| 2025 | +1.0% | |
| 2024 | +13.7% | |
| 2023 | +16.1% | |
| 2022 | −13.4% | |
| 2021 | +21.7% | |
| 2020 | −11.5% |
HIPS in the news
HIPS Dividends
- 12.20%
- $1.29
- $0.11 per share
- Monthly
Distribution history
HIPS Risk
- 10.3%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 0.25
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −21.3%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.65
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
HIPS Cost
1.17%
HIPS1.17%
- The middle half of Multi-Asset Income funds
- Median 0.65%
13 of the 15 Multi-Asset Income funds charge less.
Other funds in Multi-Asset Income
- CFTHBFIS Faith Income ETFExpense ratio 0.65%1 year return —
- CJFLIJPMorgan Flexible Income ETFExpense ratio 0.51%1 year return +14.8%
- CDINESimplify Tax Aware Diversified Income Strategy ETFExpense ratio 0.25%1 year return —
- DYFYAYields for You Income Strategy A ETFExpense ratio 1.16%1 year return +3.3%
- DAMAXAdaptive Hedged Multi-Asset Income ETFExpense ratio 1.37%1 year return +2.1%