HIPS vs. AOK
HIPS (GraniteShares HIPS US High Income ETF) and AOK (iShares Core 30/70 Conservative Allocation ETF) are both Diversified Portfolio funds - HIPS tracks the TFMS HIPS Index while AOK tracks the S&P Target Risk Conservative Index. Both are passively managed. Over the past 10 years, HIPS returned 5.73%/yr vs 5.26%/yr for AOK. A 0.51 correlation means they provide meaningful diversification when combined. HIPS charges 3.19%/yr vs 0.15%/yr for AOK.
Performance
HIPS vs. AOK - Performance Comparison
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Returns By Period
In the year-to-date period, HIPS achieves a 2.22% return, which is significantly lower than AOK's 4.21% return. Over the past 10 years, HIPS has outperformed AOK with an annualized return of 5.73%, while AOK has yielded a comparatively lower 5.26% annualized return.
HIPS
- 1D
- 0.35%
- 1M
- -1.66%
- YTD
- 2.22%
- 6M
- 1.89%
- 1Y
- 5.13%
- 3Y*
- 10.07%
- 5Y*
- 3.65%
- 10Y*
- 5.73%
AOK
- 1D
- 0.15%
- 1M
- 0.09%
- YTD
- 4.21%
- 6M
- 3.80%
- 1Y
- 10.41%
- 3Y*
- 9.17%
- 5Y*
- 3.70%
- 10Y*
- 5.26%
HIPS vs. AOK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HIPS GraniteShares HIPS US High Income ETF | 2.22% | 1.00% | 13.71% | 16.09% | -13.47% | 22.65% | -11.74% | 22.94% | -9.30% | 6.30% |
AOK iShares Core 30/70 Conservative Allocation ETF | 4.21% | 11.26% | 6.58% | 10.85% | -14.16% | 4.87% | 9.33% | 13.90% | -3.09% | 9.70% |
Correlation
The correlation between HIPS and AOK is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jan 7, 2015 | 0.51 |
The correlation between HIPS and AOK shifts across timeframes, from 0.37 (1 year) to 0.53 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
HIPS vs. AOK — Risk / Return Rank
HIPS
AOK
HIPS vs. AOK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares HIPS US High Income ETF (HIPS) and iShares Core 30/70 Conservative Allocation ETF (AOK). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| HIPS | AOK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.23 | ||
| Sortino ratioReturn per unit of downside risk | -1.70 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.33 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | 2.32 | -1.49 |
| Martin ratioReturn relative to average drawdown | 2.01 | 9.77 | -7.76 |
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Drawdowns
HIPS vs. AOK - Drawdown Comparison
The maximum HIPS drawdown since its inception was -53.14%, which is greater than AOK's maximum drawdown of -18.94%. Use the drawdown chart below to compare losses from any high point for HIPS and AOK.
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Drawdown Indicators
| HIPS | AOK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.14% | -18.94% | -34.20% |
Max Drawdown (1Y)Largest decline over 1 year | -6.15% | -4.50% | -1.65% |
Max Drawdown (3Y)Largest decline over 3 years | -15.41% | -6.37% | -9.04% |
Max Drawdown (5Y)Largest decline over 5 years | -21.28% | -18.94% | -2.34% |
Max Drawdown (10Y)Largest decline over 10 years | -53.14% | -18.94% | -34.20% |
Current DrawdownCurrent decline from peak | -5.21% | -0.46% | -4.75% |
Average DrawdownAverage peak-to-trough decline | -7.37% | -2.36% | -5.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.56% | 1.07% | +1.49% |
Volatility
HIPS vs. AOK - Volatility Comparison
GraniteShares HIPS US High Income ETF (HIPS) has a higher volatility of 3.02% compared to iShares Core 30/70 Conservative Allocation ETF (AOK) at 2.19%. This indicates that HIPS's price experiences larger fluctuations and is considered to be riskier than AOK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIPS | AOK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.02% | 2.19% | +0.83% |
Volatility (6M)Calculated over the trailing 6-month period | 7.38% | 4.86% | +2.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.70% | 5.94% | +3.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.26% | 7.15% | +6.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.03% | 6.72% | +11.31% |
HIPS vs. AOK - Expense Ratio Comparison
HIPS has a 3.19% expense ratio, which is higher than AOK's 0.15% expense ratio.
Dividends
HIPS vs. AOK - Dividend Comparison
HIPS's dividend yield for the trailing twelve months is around 11.31%, more than AOK's 3.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AOK iShares Core 30/70 Conservative Allocation ETF | 3.28% | 3.28% | 3.23% | 2.93% | 2.25% | 1.55% | 2.10% | 2.71% | 2.68% | 2.91% | 2.14% | 2.02% |
HIPS GraniteShares HIPS US High Income ETF | 11.31% | 11.04% | 10.04% | 10.32% | 10.76% | 8.43% | 9.50% | 6.93% | 8.66% | 7.28% | 7.20% | 8.17% |
Frequently Asked Questions
HIPS and AOK have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HIPS has higher volatility (3.02%) compared to AOK (2.19%). In terms of maximum drawdown, HIPS dropped -53.14% vs AOK's -18.94%.
On 10-year performance, HIPS leads with 5.73% vs 5.26% for AOK. On fees, AOK is cheaper at 0.15% per year. On volatility, AOK has been the lower-risk option at 2.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, HIPS has performed better with a 5.73% return vs 5.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AOK is cheaper with a 0.15% expense ratio, compared with 3.19% for HIPS.
HIPS has the higher dividend yield at 11.31%, compared with 3.28% for AOK.
HIPS tracks TFMS HIPS Index, while AOK tracks S&P Target Risk Conservative Index. They also come from different issuers: GraniteShares and iShares. Their fees differ too: 3.19% for HIPS and 0.15% for AOK.
AOK currently has the higher Sharpe Ratio (1.76 vs 0.53), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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