GraniteShares HIPS US High Income ETF
HIPS
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 205 Hudson Street, 7th Floor New York NY United States of America 10013
- IPO Date
- Jan 9, 2015
- CIK
- 0001540305
- Website
- graniteshares.com
- Similar Companies
- Business
- GraniteShares HIPS US High Income ETF (HIPS) is an exchange-traded fund that seeks to track the performance, before fees and expenses, of the EQM High Income Pass-Through Securities Index. Launched on January 6, 2015, and issued by GraniteShares, headquartered in New York, New York, the fund provides diversified exposure to high income U.S.-listed securities with pass-through structures across four core categories: master limited partnerships (MLPs) focused on energy production, transportation, and processing; real estate investment trusts (REITs), including mortgage REITs; business development companies (BDCs); and closed-end funds (CEFs). The rules-based index selects up to 40 securities—up to 10 per category—based on highest yield and lowest volatility, with each category equally weighted at 25% following quarterly rebalancing and annual reconstitution; the fund invests substantially all assets in these holdings, currently numbering around 41-42 with total net assets exceeding $106 million as of mid-2025. HIPS delivers monthly distributions of $0.1075 per share since inception, yielding approximately 10.4% on a trailing twelve-month basis as of late 2025, with over 50% historically classified as return of capital for tax efficiency and no K-1 issuance. It targets income-seeking investors by blending these alternative income assets, which exhibit low correlation to traditional fixed income, small-to-large capitalization exposure, and quantitative screens for minimum market cap and liquidity. In March 2023, HIPS transitioned its benchmark index from the TFMS HIPS Index to the EQM High Income Pass-Through Securities Index, reflecting a methodology update while maintaining the core equal-weighted, multi-category strategy without major portfolio disruption. GraniteShares, founded in 2016, has since expanded aggressively with new ETF launches, including YieldBOOST single-stock and index option-income products like YBST and YBTY in December 2025, YSPY and TQQY in February 2025, and leveraged single-stock offerings, driving firm assets under management beyond $10 billion. The company operates ETFs across U.S., U.K., European exchanges, with no reported HIPS-specific acquisitions, partnerships, or funding rounds in the last 1-2 years.