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Trending ETFs

Name

As of 11/04/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$12.66

$73.8 M

10.16%

$1.29

1.99%

Vitals

YTD Return

10.7%

1 yr return

16.9%

3 Yr Avg Return

3.0%

5 Yr Avg Return

4.2%

Net Assets

$73.8 M

Holdings in Top 10

59.2%

52 WEEK LOW AND HIGH

$12.7
$11.73
$13.15

Expenses

OPERATING FEES

Expense Ratio 1.99%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 65.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 11/04/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$12.66

$73.8 M

10.16%

$1.29

1.99%

HIPS - Profile

Distributions

  • YTD Total Return 10.7%
  • 3 Yr Annualized Total Return 3.0%
  • 5 Yr Annualized Total Return 4.2%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 6.07%
DIVIDENDS
  • Dividend Yield 10.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    GraniteShares HIPS US High Income ETF
  • Fund Family Name
    GraniteShares ETF Trust
  • Inception Date
    Jan 06, 2015
  • Shares Outstanding
    5300000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jeff Klearman

Fund Description

The Fund employs a “passive management”—or indexing—investment approach designed to track the performance of the Index. The rules-based Index measures the performance of up to 40 high income U.S.-listed securities that typically have “pass-through” structures that require them to distribute substantially all of their earnings to shareholders as cash distributions. This “high income, pass-through” strategy is known as HIPS.

The Index

The Index is constructed to capture up to 40 high income securities, typically with pass-through structures, across the following sectors: (i) closed-end funds (“CEFs”), (ii) real estate investment trusts (“REITS”), (iii) asset management and business development companies (“BDCs”), and (iv) energy production and energy transportation and processing companies. Energy-related companies included in the Index are structured as master limited partnerships (“MLPs”).

The Index applies a quantitative screen to the securities in such sectors for minimum market capitalizations and minimum liquidity thresholds. The Index then selects up to 10 securities with the highest yield and lowest volatility over a prescribed time period for each sector with all securities equally weighted. Each sector is weighted at 25% at each index reconstitution/rebalancing. The Index may include small, mid-, and large-capitalization companies meeting the screening criteria.

The Index is reconstituted annually and rebalanced quarterly.

The Fund’s Investment Strategy

The Fund attempts to invest all, or substantially all, of its assets in the securities that make up the Index. The Fund will generally use a “replication” strategy to achieve its investment objective, meaning it generally will invest in all of the component securities of the Index, but may, when the adviser believes it is in the best interests of the Fund, use a “representative sampling” strategy, meaning it may invest in a sample of the securities in the Index whose risk, return and other characteristics are expected to closely resemble the risk, return and other characteristics of the Index as a whole.

Under normal circumstances, at least 80% of the Fund’s total assets (exclusive of collateral held from securities lending) will be invested in the component securities of the Index and investments that have economic characteristics that are substantially identical to the economic characteristics of such component securities. GraniteShares Advisors LLC (“GraniteShares” or the “Adviser”), the Fund’s investment adviser, expects that, over time, the correlation between the Fund’s performance and that of the Index, before fees and expenses, will be 95% or better.

Concentration Policy

To the extent the Index concentrates (i.e., holds 25% or more of its total assets) in the securities of a particular industry or group of related industries, the Fund will concentrate its investments to approximately the same extent as the Index.

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HIPS - Performance

Return Ranking - Trailing

Period HIPS Return Category Return Low Category Return High Rank in Category (%)
YTD 10.7% 1.6% 21.5% 80.82%
1 Yr 16.9% 7.7% 40.1% 96.92%
3 Yr 3.0%* -10.0% 11.3% 57.75%
5 Yr 4.2%* 1.5% 12.8% 96.21%
10 Yr N/A* 0.6% 11.5% N/A

* Annualized

Return Ranking - Calendar

Period HIPS Return Category Return Low Category Return High Rank in Category (%)
2023 4.3% -6.9% 29.3% 83.85%
2022 -21.6% -37.4% -8.2% 65.14%
2021 12.6% -9.8% 25.4% 12.54%
2020 -20.4% -21.0% 25.4% 99.62%
2019 14.5% -8.3% 27.9% 51.75%

Total Return Ranking - Trailing

Period HIPS Return Category Return Low Category Return High Rank in Category (%)
YTD 10.7% 1.6% 21.5% 80.82%
1 Yr 16.9% 7.7% 40.1% 96.92%
3 Yr 3.0%* -10.0% 11.3% 57.75%
5 Yr 4.2%* 1.5% 12.8% 96.21%
10 Yr N/A* 0.6% 11.5% N/A

* Annualized

Total Return Ranking - Calendar

Period HIPS Return Category Return Low Category Return High Rank in Category (%)
2023 15.0% -0.9% 33.0% 60.82%
2022 -12.9% -36.0% -0.9% 23.59%
2021 22.7% -7.8% 33.9% 6.09%
2020 -11.5% -16.2% 25.4% 99.24%
2019 20.3% 7.3% 34.8% 69.26%

HIPS - Holdings

Concentration Analysis

HIPS Category Low Category High HIPS % Rank
Net Assets 73.8 M 1.41 M 120 B 91.44%
Number of Holdings 40 4 2696 41.44%
Net Assets in Top 10 44.7 M 1.18 M 27.7 B 91.44%
Weighting of Top 10 59.17% 19.7% 118.4% 61.30%

Top 10 Holdings

  1. United States Treasury Bill 33.06%
  2. Western Midstream Partners LP 3.49%
  3. Plains All American Pipeline LP 3.02%
  4. Energy Transfer LP 2.95%
  5. MPLX LP 2.91%
  6. Blackstone Secured Lending Fund 2.77%
  7. Omega Healthcare Investors, Inc. 2.76%
  8. MidCap Financial Investment Corp. 2.75%
  9. Enterprise Products Partners LP 2.75%
  10. Blackstone Long-Short Credit Income Fund 2.70%

Asset Allocation

Weighting Return Low Return High HIPS % Rank
Stocks
99.96% 0.00% 100.07% 15.41%
Bonds
33.06% 0.00% 102.71% 4.79%
Convertible Bonds
0.45% 0.00% 26.48% 34.83%
Preferred Stocks
0.00% 0.00% 16.57% 92.47%
Other
0.00% -0.31% 28.56% 82.19%
Cash
0.00% 0.00% 89.93% 100.00%

Stock Sector Breakdown

Weighting Return Low Return High HIPS % Rank
Financial Services
28.54% 0.28% 52.80% 3.10%
Energy
24.98% 0.00% 29.22% 1.03%
Real Estate
23.70% 0.00% 33.86% 1.03%
Healthcare
8.76% 0.00% 36.30% 95.86%
Technology
3.62% 3.31% 52.93% 99.66%
Industrials
2.83% 1.16% 32.55% 98.62%
Consumer Defense
2.59% 0.00% 14.86% 92.07%
Communication Services
1.95% 0.00% 26.62% 97.24%
Consumer Cyclical
1.75% 0.00% 16.01% 97.59%
Utilities
0.77% 0.00% 31.67% 93.79%
Basic Materials
0.52% 0.00% 11.49% 98.28%

Stock Geographic Breakdown

Weighting Return Low Return High HIPS % Rank
US
99.96% 0.00% 100.07% 15.41%
Non US
0.00% 0.00% 21.17% 92.47%

Bond Sector Breakdown

Weighting Return Low Return High HIPS % Rank
Corporate
69.10% 0.00% 98.43% 9.31%
Government
12.32% 0.00% 99.71% 74.14%
Securitized
6.62% 0.00% 37.97% 73.45%
Municipal
0.06% 0.00% 17.02% 56.21%
Derivative
0.00% -0.45% 28.56% 79.79%
Cash & Equivalents
0.00% 0.00% 83.14% 97.60%

Bond Geographic Breakdown

Weighting Return Low Return High HIPS % Rank
US
33.06% 0.00% 102.71% 4.79%
Non US
0.00% 0.00% 1.68% 90.75%

HIPS - Expenses

Operational Fees

HIPS Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.99% 0.04% 4.67% 5.14%
Management Fee 0.70% 0.00% 1.25% 88.01%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.28% N/A

Sales Fees

HIPS Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

HIPS Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

HIPS Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 65.00% 4.00% 236.00% 78.99%

HIPS - Distributions

Dividend Yield Analysis

HIPS Category Low Category High HIPS % Rank
Dividend Yield 10.16% 0.00% 10.22% 1.03%

Dividend Distribution Analysis

HIPS Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Quarterly Annual

Net Income Ratio Analysis

HIPS Category Low Category High HIPS % Rank
Net Income Ratio 6.07% -1.12% 6.07% 0.35%

Capital Gain Distribution Analysis

HIPS Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Distributions History

View More +

HIPS - Fund Manager Analysis

Managers

Jeff Klearman


Start Date

Tenure

Tenure Rank

Dec 18, 2017

4.45

4.5%

Jeff Klearman has been Portfolio Manager at GraniteShares since 2017. Mr. Klearman has many years experience working as a trader, structurer, marketer and researcher. Most recently, Mr. Klearman was the Chief Investment Officer for Rich Investment Services, a company which created, listed and managed ETFs. Prior to Rich Investment Services, Mr. Klearman headed the New York Commodities Structuring desk at Deutsche Bank AG. From 2004 to 2007, Mr. Klearman headed the marketing and structuring effort for rates based structured products at BNP Paribas in New York. Mr. Klearman worked at AIG Financial Products from 1994 to 2004 trading rates-based volatility products as well as marketing and structuring. Mr. Klearman received his MBA in Finance from NYU Stern School of Business and his Bachelors of Science in Chemical Engineering from Purdue University.

Benoit Autier


Start Date

Tenure

Tenure Rank

Dec 18, 2017

4.45

4.5%

Mr. Autier started his career in 1999 at KPMG Audit in Paris before moving in 2003 to Ricol & Lasteyrie (member of the E&Y Corporate Finance network). He joined ETF Securities in 2005, where he worked for over 10 years in London and New York. While at ETF Securities, Mr. Autier was Head of Product Management, overseeing the operation of more than 300 exchange-traded products. Between 2015 and 2016, Mr. Autier worked at the World Gold Council in New York. Mr. Autier received a Master in Finance from the London Business School in 2005.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 38.44 7.38 2.41