HIPS GraniteShares HIPS US High Income ETF
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 dont, thereby eliminating the double taxation associated with stock dividends. The portfolio allocates equally to four alternative income segments: closed-end funds (CEFs), business development companies (BDCs), real estate investment trusts (REITs), and energy master limited partnerships (MLPs). The top 10 securities with the highest dividend yield and lowest volatility in each segment are selected and weighted equally. It should be noted that while income from REITs, MLPs and BDCs can be high, these are 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. Before March 16, 2023, the fund tracked the TFMS HIPS Index.
Performance
| 1M | 3M | YTD | 1Y | 3Y ann. | 5Y ann. | |
|---|---|---|---|---|---|---|
| HIPS | -1.5% | -11.0% | -3.7% | -2.3% | +5.4% | +1.7% |
| Equity average (4725 funds) | -2.2% | -4.7% | +3008.3% | +1886.0% | +15.1% | +2.6% |
Insider activity in the holdings
Open-market insider buying across this fund’s holdings over 90 days, weighted by holding weight: −$20K net.
| Holding | Weight | Insiders bought | Insiders sold |
|---|---|---|---|
| PSEC Prospect Capital Corp. | 1.66% | $10.5M | $0 |
| BXMT Blackstone Mortgage Trust | 2.32% | $1.1M | $47K |
| NLY Annaly Capital Management, Inc. | 2.24% | $940K | $889K |
| BSM Black Stone Minerals LP | 2.91% | $686K | $9.0M |
| DX Dynex Capital Inc | 2.11% | $295K | $0 |
| PHK Pimco High Income Fund | 2.40% | $249K | $0 |
| DMLP Dorchester Minerals | 3.04% | $147K | $0 |
| ABR Arbor Realty Trust Inc. | 0.89% | $132K | $0 |
| NCDL Nuveen Churchill Direct Lending Corp | 2.42% | $61K | $0 |
| CSWC Capital Southwest Corporation | 3.03% | $50K | $0 |
| FSK FS KKR CAPITAL CORP | 3.12% | $10K | $0 |
| ARLP Alliance Resource Partners, L.P. | 3.05% | $2K | $0 |
Holdings · as of Nov 13, 2026
| # | Holding | Weight |
|---|---|---|
| 1 | FSK FS KKR CAPITAL CORP | 3.12% |
| 2 | ARLP Alliance Resource Partners, L.P. | 3.05% |
| 3 | DMLP Dorchester Minerals | 3.04% |
| 4 | 0S23.L Enterprise Products Partners L | 3.03% |
| 5 | CSWC Capital Southwest Corporation | 3.03% |
| 6 | MPLX MPLX LP | 2.98% |
| 7 | BSM Black Stone Minerals LP | 2.91% |
| 8 | CII BlackRock Enhanced Large Cap Core Fund Inc | 2.88% |
| 9 | BBDC Barings BDC Inc. | 2.73% |
| 10 | KRP KIMBELL ROYALTY PARTNERS LP | 2.70% |
| 11 | GBDC GOLUB CAP BDC INC COM | 2.65% |
| 12 | UAN CVR Partners LP and CVR Nitrogen Finance Corporation | 2.64% |
| 13 | JFR NUVEEN FLOAT RATE INC FD | 2.64% |
| 14 | NMFC NEW MTN FIN CORP COM | 2.61% |
| 15 | DKL Delek Logistics Partners LP | 2.59% |
| 16 | PAA Plains All American Pipeline LP | 2.56% |
| 17 | 0KH0.L Pennantpark Floating Rate Capital Ltd. | 2.51% |
| 18 | GSBD Goldman Sachs BDC Inc | 2.49% |
| 19 | FTF Franklin Limited Duration Income Trust | 2.49% |
| 20 | NHS Neuberger High Yield Strategies Fund Inc. | 2.48% |
| 21 | FRA Blackrock Floating Rate Income Strategies Fund Incorporated | 2.46% |
| 22 | NCDL Nuveen Churchill Direct Lending Corp | 2.42% |
| 23 | DSU BLACKROCK DEBT STRATEGIES FD | 2.41% |
| 24 | PHK Pimco High Income Fund | 2.40% |
| 25 | HIX Western Asset High Income Fund II Inc. | 2.39% |
| 26 | WES Western Midstream Partners LP | 2.38% |
| 27 | EHI Western Asset Global High Income Fund Inc. | 2.36% |
| 28 | BXMT Blackstone Mortgage Trust | 2.32% |
| 29 | PFL PIMCO Income Strategy Fund | 2.32% |
| 30 | MSDL Morgan Stanley Direct Lending Fund | 2.31% |
| 31 | PMT PennyMac Mortgage Investment Trust | 2.31% |
| 32 | 0A26.L Ellington Financial Inc | 2.29% |
| 33 | NLY Annaly Capital Management, Inc. | 2.24% |
| 34 | AGNC Agnc Investment Corp | 2.21% |
| 35 | DX Dynex Capital Inc | 2.11% |
| 36 | STWD Starwood Property Trust Inc. | 1.98% |
| 37 | 0HHU.L ARMOUR Residential REIT Inc. | 1.95% |
| 38 | ORC Orchid Island Capital Inc. | 1.86% |
| 39 | PSEC Prospect Capital Corp. | 1.66% |
| 40 | CASH Cash and Cash Equivalents | 1.60% |
| 41 | ABR Arbor Realty Trust Inc. | 0.89% |
Sector breakdown
Country breakdown
Distributions
| Date | Per unit |
|---|---|
| Oct 28, 2026 | $0.1075 |
| Sep 28, 2026 | $0.1075 |
| Aug 27, 2026 | $0.1075 |
| Jul 29, 2026 | $0.1075 |
| Jun 26, 2026 | $0.1075 |
| May 27, 2026 | $0.1075 |
| Apr 28, 2026 | $0.1075 |
| Mar 27, 2026 | $0.1075 |
| Feb 25, 2026 | $0.1075 |
| Jan 28, 2026 | $0.1075 |
| Dec 29, 2025 | $0.1075 |
| Nov 25, 2025 | $0.1075 |
| Oct 29, 2025 | $0.1075 |
| Sep 26, 2025 | $0.1075 |
| Aug 27, 2025 | $0.1075 |
| Jul 29, 2025 | $0.1075 |
| Jun 26, 2025 | $0.1075 |
| May 28, 2025 | $0.1075 |
| Apr 28, 2025 | $0.1075 |
| Mar 27, 2025 | $0.1075 |
| Feb 26, 2025 | $0.1075 |
| Jan 29, 2025 | $0.1075 |
| Dec 27, 2024 | $0.1075 |
| Nov 26, 2024 | $0.1075 |
| Oct 29, 2024 | $0.1075 |
| Sep 26, 2024 | $0.1075 |
| Aug 28, 2024 | $0.1075 |
| Jul 29, 2024 | $0.1075 |
| Jun 26, 2024 | $0.1075 |
| May 29, 2024 | $0.1075 |
| Apr 26, 2024 | $0.1075 |
| Mar 26, 2024 | $0.1075 |
| Feb 27, 2024 | $0.1075 |
| Jan 29, 2024 | $0.1075 |
| Dec 27, 2023 | $0.1075 |
| Nov 28, 2023 | $0.1075 |
| Oct 27, 2023 | $0.1075 |
| Sep 27, 2023 | $0.1075 |
| Aug 29, 2023 | $0.1075 |
| Jul 27, 2023 | $0.1075 |
Members of Congress who disclosed this ETF
No member of Congress has disclosed a trade in HIPS in the filings we hold.
Fund facts, prices, performance and distributions: our market-data vendor. Holdings: the vendor and SEC Form N-PORT. Insider and Congress data: InsiderBuying. Last updated Nov 13, 2026. This is historical data, not investment advice. Report a data error