HIPS vs. ALTY

Last updated Apr 1, 2026

Compare and contrast key facts about GraniteShares HIPS US High Income ETF (HIPS) and Global X Alternative Income ETF (ALTY).

HIPS and ALTY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HIPS is a passively managed fund by GraniteShares that tracks the performance of the TFMS HIPS Index. It was launched on Jan 6, 2015. ALTY is a passively managed fund by Global X that tracks the performance of the Indxx SuperDividend Alternatives Index. It was launched on Jul 14, 2015. Both HIPS and ALTY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

HIPS vs. ALTY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares HIPS US High Income ETF (HIPS) and Global X Alternative Income ETF (ALTY). The values are adjusted to include any dividend payments, if applicable.

HIPS vs. ALTY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HIPS GraniteShares HIPS US High Income ETF	1.64%	1.00%	13.71%	16.09%	-13.47%	22.65%	-11.74%	22.94%	-9.30%	6.30%
ALTY Global X Alternative Income ETF	2.00%	11.07%	10.88%	10.58%	-11.92%	23.08%	-12.82%	21.44%	-6.18%	10.82%

Returns By Period

In the year-to-date period, HIPS achieves a 1.64% return, which is significantly lower than ALTY's 2.00% return. Both investments have delivered pretty close results over the past 10 years, with HIPS having a 6.13% annualized return and ALTY not far ahead at 6.25%.

HIPS

• 1D: 1.35%
• 1M: -0.71%
• YTD: 1.64%
• 6M: 3.50%
• 1Y: 1.18%
• 3Y*: 10.32%
• 5Y*: 5.40%
• 10Y*: 6.13%

ALTY

• 1D: 0.92%
• 1M: -3.20%
• YTD: 2.00%
• 6M: 5.15%
• 1Y: 10.74%
• 3Y*: 10.06%
• 5Y*: 6.33%
• 10Y*: 6.25%

*Multi-year figures are annualized to reflect compound growth (CAGR)

HIPS vs. ALTY - Expense Ratio Comparison

HIPS has a 3.19% expense ratio, which is higher than ALTY's 0.50% expense ratio.

HIPS

GraniteShares HIPS US High Income ETF

ALTY

Global X Alternative Income ETF

Return for Risk

HIPS vs. ALTY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HIPS

HIPS Risk / Return Rank: 14
HIPS Sharpe Ratio Rank: 14
HIPS Sortino Ratio Rank: 13
HIPS Omega Ratio Rank: 14
HIPS Calmar Ratio Rank: 14
HIPS Martin Ratio Rank: 15

ALTY

ALTY Risk / Return Rank: 64
ALTY Sharpe Ratio Rank: 65
ALTY Sortino Ratio Rank: 62
ALTY Omega Ratio Rank: 73
ALTY Calmar Ratio Rank: 52
ALTY Martin Ratio Rank: 68

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HIPS vs. ALTY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares HIPS US High Income ETF (HIPS) and Global X Alternative Income ETF (ALTY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	HIPS	ALTY	Difference
Sharpe ratio Return per unit of total volatility	0.08	1.11	-1.04
Sortino ratio Return per unit of downside risk	0.20	1.54	-1.34
Omega ratio Gain probability vs. loss probability	1.03	1.27	-0.24
Calmar ratio Return relative to maximum drawdown	0.08	1.27	-1.19
Martin ratio Return relative to average drawdown	0.31	6.72	-6.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HIPS vs. ALTY - Sharpe Ratio Comparison

The current HIPS Sharpe Ratio is 0.08, which is lower than the ALTY Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of HIPS and ALTY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HIPS	ALTY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.08	1.11	-1.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.59	-0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	0.38	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.32	-0.10

Correlation

The correlation between HIPS and ALTY is 0.62, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

HIPS vs. ALTY - Dividend Comparison

HIPS's dividend yield for the trailing twelve months is around 11.16%, more than ALTY's 7.51% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HIPS GraniteShares HIPS US High Income ETF	11.16%	11.04%	10.04%	10.32%	10.76%	8.43%	9.50%	6.93%	8.66%	7.28%	7.20%	8.17%
ALTY Global X Alternative Income ETF	7.51%	7.50%	7.88%	7.31%	7.66%	6.88%	9.20%	8.74%	8.49%	7.52%	8.20%	4.21%

Drawdowns

HIPS vs. ALTY - Drawdown Comparison

The maximum HIPS drawdown since its inception was -53.14%, roughly equal to the maximum ALTY drawdown of -51.47%. Use the drawdown chart below to compare losses from any high point for HIPS and ALTY.

Drawdown Indicators

	HIPS	ALTY	Difference
Max Drawdown Largest peak-to-trough decline	-53.14%	-51.47%	-1.67%
Max Drawdown (1Y) Largest decline over 1 year	-13.02%	-8.52%	-4.50%
Max Drawdown (5Y) Largest decline over 5 years	-21.28%	-18.48%	-2.80%
Max Drawdown (10Y) Largest decline over 10 years	-53.14%	-51.47%	-1.67%
Current Drawdown Current decline from peak	-3.24%	-3.46%	+0.22%
Average Drawdown Average peak-to-trough decline	-7.48%	-6.85%	-0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.54%	1.61%	+1.93%

Volatility

HIPS vs. ALTY - Volatility Comparison

GraniteShares HIPS US High Income ETF (HIPS) has a higher volatility of 3.82% compared to Global X Alternative Income ETF (ALTY) at 2.90%. This indicates that HIPS's price experiences larger fluctuations and is considered to be riskier than ALTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIPS	ALTY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.82%	2.90%	+0.92%
Volatility (6M) Calculated over the trailing 6-month period	7.53%	4.65%	+2.88%
Volatility (1Y) Calculated over the trailing 1-year period	15.01%	9.68%	+5.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.33%	10.77%	+2.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.13%	16.63%	+1.50%