GraniteShares HIPS US High Income ETF
Name
As of 11/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
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
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 11/04/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
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%
- Dividend Yield 10.2%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameGraniteShares HIPS US High Income ETF
-
Fund Family NameGraniteShares ETF Trust
-
Inception DateJan 06, 2015
-
Shares Outstanding5300000
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerJeff 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.
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
- United States Treasury Bill 33.06%
- Western Midstream Partners LP 3.49%
- Plains All American Pipeline LP 3.02%
- Energy Transfer LP 2.95%
- MPLX LP 2.91%
- Blackstone Secured Lending Fund 2.77%
- Omega Healthcare Investors, Inc. 2.76%
- MidCap Financial Investment Corp. 2.75%
- Enterprise Products Partners LP 2.75%
- 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
Date | Amount | Type |
---|---|---|
Oct 29, 2024 | $0.032 | ReturnOfCapital |
Oct 29, 2024 | $0.108 | OrdinaryDividend |
Sep 26, 2024 | $0.108 | OrdinaryDividend |
Aug 28, 2024 | $0.108 | OrdinaryDividend |
Aug 28, 2024 | $0.003 | ReturnOfCapital |
Jul 29, 2024 | $0.108 | OrdinaryDividend |
Jun 26, 2024 | $0.108 | OrdinaryDividend |
Apr 26, 2024 | $0.108 | OrdinaryDividend |
Mar 26, 2024 | $0.108 | OrdinaryDividend |
Feb 27, 2024 | $0.108 | OrdinaryDividend |
Jan 29, 2024 | $0.108 | OrdinaryDividend |
Dec 27, 2023 | $0.108 | OrdinaryDividend |
Nov 28, 2023 | $0.108 | OrdinaryDividend |
Sep 27, 2023 | $0.108 | OrdinaryDividend |
Aug 29, 2023 | $0.108 | OrdinaryDividend |
Jul 27, 2023 | $0.108 | OrdinaryDividend |
Jun 28, 2023 | $0.108 | OrdinaryDividend |
May 26, 2023 | $0.108 | OrdinaryDividend |
Apr 26, 2023 | $0.031 | ReturnOfCapital |
Apr 26, 2023 | $0.077 | OrdinaryDividend |
Mar 29, 2023 | $0.030 | ReturnOfCapital |
Mar 29, 2023 | $0.077 | OrdinaryDividend |
Feb 24, 2023 | $0.022 | ReturnOfCapital |
Feb 24, 2023 | $0.086 | OrdinaryDividend |
Jan 27, 2023 | $0.010 | ReturnOfCapital |
Jan 27, 2023 | $0.098 | OrdinaryDividend |
Dec 28, 2022 | $0.108 | OrdinaryDividend |
Nov 28, 2022 | $0.108 | OrdinaryDividend |
Oct 27, 2022 | $0.007 | ReturnOfCapital |
Oct 27, 2022 | $0.108 | OrdinaryDividend |
Sep 28, 2022 | $0.028 | ReturnOfCapital |
Sep 28, 2022 | $0.108 | OrdinaryDividend |
Aug 29, 2022 | $0.003 | ReturnOfCapital |
Aug 29, 2022 | $0.108 | OrdinaryDividend |
Jul 27, 2022 | $0.050 | ReturnOfCapital |
Jul 27, 2022 | $0.108 | OrdinaryDividend |
Jun 28, 2022 | $0.101 | ReturnOfCapital |
Jun 28, 2022 | $0.006 | OrdinaryDividend |
May 26, 2022 | $0.101 | ReturnOfCapital |
May 26, 2022 | $0.006 | OrdinaryDividend |
Apr 27, 2022 | $0.101 | ReturnOfCapital |
Apr 27, 2022 | $0.006 | OrdinaryDividend |
Mar 29, 2022 | $0.101 | ReturnOfCapital |
Mar 29, 2022 | $0.006 | OrdinaryDividend |
Feb 24, 2022 | $0.101 | ReturnOfCapital |
Feb 24, 2022 | $0.006 | OrdinaryDividend |
Jan 27, 2022 | $0.101 | ReturnOfCapital |
Jan 27, 2022 | $0.006 | OrdinaryDividend |
Dec 30, 2021 | $0.108 | OrdinaryDividend |
Nov 17, 2021 | $0.108 | OrdinaryDividend |
Oct 13, 2021 | $0.108 | OrdinaryDividend |
Sep 15, 2021 | $0.108 | OrdinaryDividend |
Aug 18, 2021 | $0.108 | OrdinaryDividend |
Jul 14, 2021 | $0.108 | OrdinaryDividend |
Jun 16, 2021 | $0.108 | OrdinaryDividend |
May 19, 2021 | $0.108 | OrdinaryDividend |
Apr 14, 2021 | $0.108 | OrdinaryDividend |
Mar 17, 2021 | $0.108 | OrdinaryDividend |
Feb 17, 2021 | $0.108 | OrdinaryDividend |
Jan 13, 2021 | $0.108 | OrdinaryDividend |
Dec 30, 2020 | $0.108 | OrdinaryDividend |
Nov 18, 2020 | $0.108 | OrdinaryDividend |
Oct 14, 2020 | $0.108 | OrdinaryDividend |
Sep 16, 2020 | $0.108 | OrdinaryDividend |
Aug 19, 2020 | $0.108 | OrdinaryDividend |
Jul 15, 2020 | $0.108 | OrdinaryDividend |
Jun 17, 2020 | $0.108 | OrdinaryDividend |
May 13, 2020 | $0.108 | OrdinaryDividend |
Apr 15, 2020 | $0.108 | OrdinaryDividend |
Mar 18, 2020 | $0.108 | OrdinaryDividend |
Feb 19, 2020 | $0.108 | OrdinaryDividend |
Jan 15, 2020 | $0.108 | OrdinaryDividend |
Dec 30, 2019 | $0.030 | OrdinaryDividend |
Nov 13, 2019 | $0.030 | OrdinaryDividend |
Oct 16, 2019 | $0.030 | OrdinaryDividend |
Sep 18, 2019 | $0.030 | OrdinaryDividend |
Aug 14, 2019 | $0.030 | OrdinaryDividend |
Jul 17, 2019 | $0.030 | OrdinaryDividend |
Jun 19, 2019 | $0.108 | OrdinaryDividend |
May 15, 2019 | $0.108 | OrdinaryDividend |
Apr 16, 2019 | $0.108 | OrdinaryDividend |
Mar 13, 2019 | $0.108 | OrdinaryDividend |
Feb 13, 2019 | $0.108 | OrdinaryDividend |
Jan 16, 2019 | $0.108 | OrdinaryDividend |
Dec 28, 2018 | $0.108 | OrdinaryDividend |
Nov 14, 2018 | $0.108 | OrdinaryDividend |
Oct 17, 2018 | $0.108 | OrdinaryDividend |
Sep 19, 2018 | $0.108 | OrdinaryDividend |
Aug 15, 2018 | $0.108 | OrdinaryDividend |
Jul 18, 2018 | $0.108 | OrdinaryDividend |
Jun 13, 2018 | $0.108 | OrdinaryDividend |
May 16, 2018 | $0.108 | OrdinaryDividend |
Apr 18, 2018 | $0.108 | OrdinaryDividend |
Mar 14, 2018 | $0.108 | OrdinaryDividend |
Feb 14, 2018 | $0.108 | OrdinaryDividend |
Jan 17, 2018 | $0.108 | OrdinaryDividend |
Dec 28, 2017 | $0.108 | OrdinaryDividend |
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 |