GraniteShares HIPS US High Income ETF (HIPS) Performance
HIPS total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −1.9% since Dec 31, 2025
- 1 year
- +0.4% total return
- 5 years
- +2.1% a year
- 10 years
- +4.3% a year
- Since first price
- +3.5% a year since 2015
HIPS trailing returns vs AGG, TLT, SPY
| Period | HIPS total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | −4.9% | −5.8% | +0.9% | +1.5% | −1.0% |
| 3 months | −5.9% | −8.5% | −0.4% | −1.0% | +3.2% |
| 6 months | −6.1% | −11.2% | −1.5% | −3.8% | +7.8% |
| YTD | −1.9% | −9.7% | −1.0% | −3.4% | +12.3% |
| 1 year | +0.4% | −10.1% | −1.1% | −6.9% | +14.4% |
| 3 years | +24.1%+7.5%/yr | −9.5% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +10.9%+2.1%/yr | −33.4% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +52.9%+4.3%/yr | −39.1% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| Since inceptionJan 7, 2015 | +50.0%+3.5%/yr | −47.6% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: HIPS vs AGG
From Jan 7, 2015: HIPS grew to $15,003, AGG to $11,983.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
HIPS returns by calendar year
7 of 10 full years positive. Best 2019 (+23.7%), worst 2022 (−13.5%). 2026 is year to date.
HIPS annual returns table
| Year | HIPS | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −1.9% | −10.9% | −1.0% | −3.4% | +12.3% |
| 2025 | +1.0% | −15.4% | +7.2% | +4.3% | +17.7% |
| 2024 | +13.7% | −5.4% | +1.3% | −8.1% | +24.9% |
| 2023 | +16.1% | −13.1% | +5.7% | +2.8% | +26.2% |
| 2022 | −13.5% | −19.4% | −13.0% | −31.2% | −18.2% |
| 2021 | +22.7% | −7.2% | −1.8% | −4.6% | +28.7% |
| 2020 | −11.7% | −53.1% | +7.5% | +18.2% | +18.3% |
| 2019 | +23.7% | −5.1% | +8.5% | +14.1% | +31.2% |
| 2018 | −9.3% | −18.7% | +0.1% | −1.6% | −4.6% |
| 2017 | +6.3% | −5.7% | +3.6% | +9.2% | +21.7% |
| 2016 | +22.0% | −17.1% | +2.4% | +1.2% | +12.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
HIPS largest drawdowns
Now 9.5% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 20, 2020 | −53.1% | Mar 23, 2020 | May 7, 2021 | 32 days | 1.2 years |
| Feb 5, 2015 | −32.6% | Feb 11, 2016 | Jan 3, 2017 | 1.0 years | 1.9 years |
| Nov 16, 2021 | −21.3% | Oct 14, 2022 | Feb 23, 2024 | 11 months | 2.3 years |
| Aug 24, 2018 | −18.7% | Dec 24, 2018 | Apr 15, 2019 | 4 months | 8 months |
| Feb 20, 2025 | −15.4% | Apr 8, 2025 | Jan 14, 2026 | 47 days | 11 months |
| Jan 24, 2018 | −11.1% | Mar 23, 2018 | Jul 6, 2018 | 58 days | 5 months |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
HIPS risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2015 |
|---|---|---|---|---|
| Annualized return | +6.8% | +3.2% | +4.3% | +3.5% |
| Volatility (annualized) | 10.3% | 13.8% | 18.9% | 18.6% |
| Sharpe ratio | 0.27 | 0.04 | 0.21 | 0.18 |
| Sortino ratio | 0.38 | 0.05 | 0.27 | 0.24 |
| Best month | +6.2% | +9.3% | +17.9% | +17.9% |
| Worst month | −7.7% | −11.4% | −36.0% | −36.0% |
| Best 12 months | +23.0% | +25.2% | +67.5% | +67.5% |
| Worst 12 months | −1.7% | −17.5% | −38.7% | −38.7% |
| Positive months | 61% | 53% | 58% | 56% |
| Beta vs S&P 500 | 0.51 | 0.66 | 0.96 | — |
| Correlation with S&P 500 | 0.61 | 0.75 | 0.78 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
HIPS rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 130 | −38.7% | +4.7% | +67.5% | 70% |
| 3-year (a year) | 106 | −13.3% | +5.8% | +17.9% | 86% |
| 5-year (a year) | 82 | −6.9% | +4.2% | +16.8% | 91% |
| 10-year (a year) | 22 | +3.6% | +5.1% | +7.4% | 100% |
Every holding period starting at a month-end since 2015. Returns for 3 years and longer are annualized.
HIPS performance overview
GraniteShares HIPS US High Income ETF (HIPS) returned +0.4% over the past year and +4.3% a year over ten years, with distributions reinvested. Since its first recorded price in 2015 it has returned +3.5% a year, turning $10,000 into about $15,003. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −53.1%, from Feb 20, 2020 to Mar 23, 2020, and it took 1.1 years to get back to the old high. HIPS finished 7 of its 10 full calendar years with a gain; the best year was 2019 (+23.7%) and the worst 2022 (−13.5%). Volatility has been 18.6% a year.
Related: HIPS chart, HIPS holdings, HIPS dividends, HIPS bond profile. See the HIPS overview for the latest quote and fund facts.
HIPS performance FAQ
What is the HIPS return over the past year?
HIPS returned +0.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 10.1%.
What is the average annual return of HIPS?
HIPS has returned +2.1% a year over 5 years, +4.3% a year over 10 years, +3.5% a year since January 7, 2015 (total return, distributions reinvested).
How much would $10,000 invested in HIPS be worth?
$10,000 invested in HIPS at its first recorded close on January 7, 2015 would be worth about $15,003 on October 23, 2026 with distributions reinvested.
What was the worst year for HIPS?
The worst calendar year was 2022, with a total return of −13.5%. The best was 2019 at +23.7%.
What is the biggest drawdown of HIPS?
The largest peak-to-trough decline was −53.1% between February 20, 2020 and March 23, 2020. It recovered to the old high on May 7, 2021, 1.1 years after the bottom.
How volatile is HIPS?
Over the past 3 years HIPS had an annualized volatility of 10.3% and a Sharpe ratio of 0.27 (excess return over 1–3 month T-bills per unit of risk).