HIPS vs. BAR
HIPS (GraniteShares HIPS US High Income ETF) and BAR (GraniteShares Gold Trust) are both exchange-traded funds - HIPS is a Diversified Portfolio fund tracking the TFMS HIPS Index, while BAR is a Gold fund tracking the LBMA Gold Price PM ($/ozt). Both are passively managed. Over the past 5 years, HIPS returned 3.96%/yr vs 18.41%/yr for BAR. At a 0.09 correlation, their price movements are largely independent. HIPS charges 3.19%/yr vs 0.17%/yr for BAR.
Performance
HIPS vs. BAR - Performance Comparison
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Returns By Period
In the year-to-date period, HIPS achieves a 3.28% return, which is significantly higher than BAR's 2.94% return.
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%
BAR
- 1D
- -1.02%
- 1M
- -1.62%
- YTD
- 2.94%
- 6M
- 5.50%
- 1Y
- 32.26%
- 3Y*
- 31.38%
- 5Y*
- 18.41%
- 10Y*
- —
HIPS vs. BAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HIPS GraniteShares HIPS US High Income ETF | 3.28% | 1.00% | 13.71% | 16.09% | -13.47% | 22.65% | -11.74% | 22.94% | -9.30% | 2.44% |
BAR GraniteShares Gold Trust | 2.94% | 64.12% | 26.97% | 12.96% | -0.55% | -3.92% | 25.02% | 18.16% | -1.87% | -1.15% |
Correlation
The correlation between HIPS and BAR is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Sep 1, 2017 | 0.09 |
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Return for Risk
HIPS vs. BAR — Risk / Return Rank
HIPS
BAR
HIPS vs. BAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares HIPS US High Income ETF (HIPS) and GraniteShares Gold Trust (BAR). 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 | BAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.25 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.01 | 1.69 | -0.68 |
| Martin ratioReturn relative to average drawdown | 2.70 | 4.19 | -1.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HIPS | BAR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.65 | 1.23 | -0.58 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | 1.03 | -0.73 |
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 | 0.90 | -0.67 |
Drawdowns
HIPS vs. BAR - Drawdown Comparison
The maximum HIPS drawdown since its inception was -53.14%, which is greater than BAR's maximum drawdown of -21.53%. Use the drawdown chart below to compare losses from any high point for HIPS and BAR.
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Drawdown Indicators
| HIPS | BAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.14% | -21.53% | -31.61% |
Max Drawdown (1Y)Largest decline over 1 year | -6.15% | -19.19% | +13.04% |
Max Drawdown (3Y)Largest decline over 3 years | -15.41% | -19.19% | +3.78% |
Max Drawdown (5Y)Largest decline over 5 years | -21.28% | -20.91% | -0.37% |
Max Drawdown (10Y)Largest decline over 10 years | -53.14% | — | — |
Current DrawdownCurrent decline from peak | -4.23% | -17.72% | +13.49% |
Average DrawdownAverage peak-to-trough decline | -7.39% | -6.45% | -0.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.29% | 7.72% | -5.43% |
Volatility
HIPS vs. BAR - Volatility Comparison
The current volatility for GraniteShares HIPS US High Income ETF (HIPS) is 1.77%, while GraniteShares Gold Trust (BAR) has a volatility of 5.46%. This indicates that HIPS experiences smaller price fluctuations and is considered to be less risky than BAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIPS | BAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 5.46% | -3.69% |
Volatility (6M)Calculated over the trailing 6-month period | 7.05% | 23.03% | -15.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.57% | 26.43% | -16.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.29% | 17.90% | -4.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.07% | 16.38% | +1.69% |
HIPS vs. BAR - Expense Ratio Comparison
HIPS has a 3.19% expense ratio, which is higher than BAR's 0.17% expense ratio.
Dividends
HIPS vs. BAR - Dividend Comparison
HIPS's dividend yield for the trailing twelve months is around 11.19%, while BAR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BAR GraniteShares Gold Trust | 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
HIPS and BAR have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BAR has higher volatility (5.46%) compared to HIPS (1.77%). In terms of maximum drawdown, HIPS dropped -53.14% vs BAR's -21.53%.
On 5-year performance, BAR leads with 18.41% vs 3.96% for HIPS. On fees, BAR is cheaper at 0.17% per year. On volatility, HIPS has been the lower-risk option at 1.77%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, BAR has performed better with a 18.41% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BAR is cheaper with a 0.17% expense ratio, compared with 3.19% for HIPS.
HIPS has the higher dividend yield at 11.19%, compared with 0.00% for BAR.
HIPS is categorized as Diversified Portfolio, while BAR is Gold. HIPS tracks TFMS HIPS Index, while BAR tracks LBMA Gold Price PM ($/ozt). Their fees differ too: 3.19% for HIPS and 0.17% for BAR.
BAR currently has the higher Sharpe Ratio (1.23 vs 0.65), 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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