HIPS vs. ASET

Last updated Jun 4, 2026

HIPS (GraniteShares HIPS US High Income ETF) and ASET (FlexShares Real Assets Allocation Index Fund) are both Diversified Portfolio funds - HIPS tracks the TFMS HIPS Index while ASET tracks the Northern Trust Real Assets Allocation Total Return. Both are passively managed. HIPS charges 3.19%/yr vs 0.57%/yr for ASET.

Performance

HIPS vs. ASET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares HIPS US High Income ETF (HIPS) and FlexShares Real Assets Allocation Index Fund (ASET). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HIPS

• 1D: -0.79%
• 1M: -3.49%
• YTD: 3.28%
• 6M: 2.30%
• 1Y: 6.18%
• 3Y*: 10.94%
• 5Y*: 3.96%
• 10Y*: 5.55%

ASET

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HIPS vs. ASET - Yearly Performance Comparison

	2026 (YTD)
HIPS GraniteShares HIPS US High Income ETF	0.65%
ASET FlexShares Real Assets Allocation Index Fund	0.00%

HIPS vs. ASET - Sectors Allocation Comparison

Sectors	HIPS	ASET
Energy	32.7%	7.8%
Real Estate	31.7%	41.6%
Financial Services	31.6%	-
Basic Materials	4.0%	5.8%
Communication Services	0.0%	12.1%
Consumer Cyclical	-	0.1%
Consumer Defensive	-	1.1%
Healthcare	-	2.2%
Industrials	-	16.3%
Technology	-	0.2%
Utilities	-	12.8%

Return for Risk

HIPS vs. ASET — Risk / Return Rank

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

HIPS

HIPS Risk / Return Rank: 20
HIPS Sharpe Ratio Rank: 19
HIPS Sortino Ratio Rank: 18
HIPS Omega Ratio Rank: 18
HIPS Calmar Ratio Rank: 22
HIPS Martin Ratio Rank: 22

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. ASET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares HIPS US High Income ETF (HIPS) and FlexShares Real Assets Allocation Index Fund (ASET). 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	ASET	Difference
Sharpe ratio: Return per unit of total volatility	0.65	—	—
Sortino ratio: Return per unit of downside risk	0.97	—	—
Omega ratio: Gain probability vs. loss probability	1.11	—	—
Calmar ratio: Return relative to maximum drawdown	1.01	—	—
Martin ratio: Return relative to average drawdown	2.70	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	HIPS	ASET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.65	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	—	—

Drawdowns

HIPS vs. ASET - Drawdown Comparison

The maximum HIPS drawdown since its inception was -53.14%, which is greater than ASET's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for HIPS and ASET.

Drawdown Indicators

	HIPS	ASET	Difference
Max Drawdown Largest peak-to-trough decline	-53.14%	0.00%	-53.14%
Max Drawdown (1Y) Largest decline over 1 year	-6.15%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.41%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.28%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-53.14%	—	—
Current Drawdown Current decline from peak	-4.23%	0.00%	-4.23%
Average Drawdown Average peak-to-trough decline	-7.39%	0.00%	-7.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	—	—

Volatility

Volatility by Period

	HIPS	ASET	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.77%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.05%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.57%	0.00%	+9.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.29%	0.00%	+13.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.07%	0.00%	+18.07%

HIPS vs. ASET - Expense Ratio Comparison

HIPS has a 3.19% expense ratio, which is higher than ASET's 0.57% expense ratio.

Dividends

HIPS vs. ASET - Dividend Comparison

HIPS's dividend yield for the trailing twelve months is around 11.19%, while ASET has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASET FlexShares Real Assets Allocation Index Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HIPS GraniteShares HIPS US High Income ETF	11.19%	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

Which ETF is better, HIPS or ASET?

On fees, ASET is cheaper at 0.57% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HIPS or ASET?

ASET is cheaper with a 0.57% expense ratio, compared with 3.19% for HIPS.

Which ETF pays a higher dividend yield, HIPS or ASET?

HIPS has the higher dividend yield at 11.19%, compared with 0.00% for ASET.

What is the main difference between HIPS and ASET?

HIPS tracks TFMS HIPS Index, while ASET tracks Northern Trust Real Assets Allocation Total Return. They also come from different issuers: GraniteShares and Northern Trust. Their fees differ too: 3.19% for HIPS and 0.57% for ASET.