HIPS

GraniteShares HIPS U.S. High Income ETF
*Unless otherwise stated, data provided by FactSet.

HIPS Fund Description

HIPS tracks an index of assets that tend to produce high income and pass through that income without being taxed at the constituent level. These include REITs, MLPs, BDCs and debt-based closed-end funds.

HIPS Factset Analytics Insight

HIPS offers a twist on the popular multi-asset income space: a focus on pass-through securities (those that pass on most of their income to their owners). The owners pay taxes on that income, while the entities themselves don’t, thereby eliminating the "double taxation" associated with stock dividends. Pass-throughs include REITs, MLPs and BDCs, whose income can be high, but is typically taxed at ordinary-income rates, instead of the beneficial "qualified dividends" rate. As such, investors in taxable accounts should consider their after-tax yield. While REITs and MLPs are commonplace among competing funds due to their high income, HIPS’ focus on pass-throughs sets it apart, mostly by avoiding direct investment in high-dividend stocks and high-yield bonds. The fund explicitly aims to beat fixed-income yield while providing returns that aren’t correlated with bonds. Still, HIPS accesses high-yield credit indirectly through closed-end funds (CEFs), which are also held by some peer funds.

HIPS MSCI ESG Analytics Insight

GraniteShares HIPS U.S. High Income ETF has an MSCI ESG Fund Rating of BB based on a score of 3.49 out of 10. The MSCI ESG Fund Rating measures the resiliency of portfolios to long-term risks and opportunities arising from environmental, social, and governance factors. ESG Fund Ratings range from best (AAA) to worst (CCC). Highly rated funds consist of companies that tend to show strong and/or improving management of financially relevant environmental, social and governance issues. These companies may be more resilient to disruptions arising from ESG events.

The fund’s Peer Rank reflects the ranking of a fund’s MSCI ESG Fund Quality Score against the scores of other funds within the same peer group, as defined by the Thomson Reuters Lipper Global Classification. GraniteShares HIPS U.S. High Income ETF ranks in the 7th percentile within its peer group and in the 0th percentile within the global universe of all funds covered by MSCI ESG Fund Ratings.

PERFORMANCE [as of 09/21/21] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
HIPS -1.50% -3.58% 12.84% 32.47% 1.62% 4.43% --
HIPS (NAV) -0.98% -3.64% 13.49% 32.67% 1.68% 4.32% --
TFMS HIPS Index -- -- -- -- -- -- --
N/A -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

HIPS Summary Data

GraniteShares
01/06/15
Open-Ended Fund
3.19%
$66.18M
0.21%

HIPS Portfolio Data

3.56%
N/A

HIPS Index Data

TFMS HIPS Index
Market Cap
Proprietary
N/A

HIPS Fund Structure

No
No
-- / --
N/A
N/A
Low
N/A
N/A

HIPS Tax Exposures

20.00% / 39.60%
--
No

HIPS Factset Analytics Block Liquidity

As of 09/22/21
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of HIPS. HIPS is rated a N/A out of 5.

HIPS Tradability

34,878
$538.14K
29,457
$454.14K
0.21%
$0.03
0.20%
1.93% / -1.68%
None
100.00%
50,000
0.59
0.07%
--
0
$15.08
N/A

HIPS MSCI ESG Ratings

3.49 / 10
0.27
6.67
2.56%
3.39%
273.04