HIPS vs. HYIN
HIPS (GraniteShares HIPS US High Income ETF) and HYIN (WisdomTree Alternative Income Fund) are both Diversified Portfolio funds - HIPS tracks the TFMS HIPS Index while HYIN tracks the Gapstow Liquid Alternative Credit Index. Both are passively managed. Over the past 5 years, HIPS returned 3.65%/yr vs -1.02%/yr for HYIN. A 0.75 correlation means they provide meaningful diversification when combined. HIPS charges 3.19%/yr vs 3.20%/yr for HYIN.
Performance
HIPS vs. HYIN - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HIPS achieves a 2.22% return, which is significantly higher than HYIN's -6.68% 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%
HYIN
- 1D
- 0.15%
- 1M
- -1.18%
- YTD
- -6.68%
- 6M
- -6.42%
- 1Y
- -6.91%
- 3Y*
- 3.83%
- 5Y*
- -1.02%
- 10Y*
- —
HIPS vs. HYIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HIPS GraniteShares HIPS US High Income ETF | 2.22% | 1.00% | 13.71% | 16.09% | -13.47% | 6.41% |
HYIN WisdomTree Alternative Income Fund | -6.68% | -0.46% | 7.39% | 21.84% | -21.14% | 2.73% |
Correlation
The correlation between HIPS and HYIN is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.73 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since May 6, 2021 | 0.75 |
The correlation between HIPS and HYIN has been stable across timeframes, ranging from 0.70 to 0.75 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HIPS vs. HYIN — Risk / Return Rank
HIPS
HYIN
HIPS vs. HYIN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares HIPS US High Income ETF (HIPS) and WisdomTree Alternative Income Fund (HYIN). 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 | HYIN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.07 | ||
| Sortino ratioReturn per unit of downside risk | +1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 0.92 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.84 | -0.45 | +1.28 |
| Martin ratioReturn relative to average drawdown | 2.01 | -0.89 | +2.90 |
Loading charts...
Drawdowns
HIPS vs. HYIN - Drawdown Comparison
The maximum HIPS drawdown since its inception was -53.14%, which is greater than HYIN's maximum drawdown of -31.10%. Use the drawdown chart below to compare losses from any high point for HIPS and HYIN.
Loading charts...
Drawdown Indicators
| HIPS | HYIN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.14% | -31.10% | -22.04% |
Max Drawdown (1Y)Largest decline over 1 year | -6.15% | -15.52% | +9.37% |
Max Drawdown (3Y)Largest decline over 3 years | -15.41% | -15.85% | +0.44% |
Max Drawdown (5Y)Largest decline over 5 years | -21.28% | -31.10% | +9.82% |
Max Drawdown (10Y)Largest decline over 10 years | -53.14% | — | — |
Current DrawdownCurrent decline from peak | -5.21% | -12.42% | +7.21% |
Average DrawdownAverage peak-to-trough decline | -7.37% | -9.05% | +1.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.56% | 7.81% | -5.25% |
Volatility
HIPS vs. HYIN - Volatility Comparison
The current volatility for GraniteShares HIPS US High Income ETF (HIPS) is 3.02%, while WisdomTree Alternative Income Fund (HYIN) has a volatility of 3.28%. This indicates that HIPS experiences smaller price fluctuations and is considered to be less risky than HYIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| HIPS | HYIN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.02% | 3.28% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 7.38% | 10.31% | -2.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.70% | 12.92% | -3.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.26% | 16.77% | -3.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.03% | 16.75% | +1.28% |
HIPS vs. HYIN - Expense Ratio Comparison
HIPS has a 3.19% expense ratio, which is lower than HYIN's 3.20% expense ratio.
Dividends
HIPS vs. HYIN - Dividend Comparison
HIPS's dividend yield for the trailing twelve months is around 11.31%, less than HYIN's 13.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
HYIN WisdomTree Alternative Income Fund | 13.53% | 12.58% | 12.59% | 11.71% | 11.34% | 4.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HIPS and HYIN have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HYIN has higher volatility (3.28%) compared to HIPS (3.02%). In terms of maximum drawdown, HIPS dropped -53.14% vs HYIN's -31.10%.
On 5-year performance, HIPS leads with 3.65% vs -1.02% for HYIN. On fees, HIPS is cheaper at 3.19% per year. On volatility, HIPS has been the lower-risk option at 3.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, HIPS has performed better with a 3.65% return vs -1.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HIPS is cheaper with a 3.19% expense ratio, compared with 3.20% for HYIN.
HYIN has the higher dividend yield at 13.53%, compared with 11.31% for HIPS.
HIPS tracks TFMS HIPS Index, while HYIN tracks Gapstow Liquid Alternative Credit Index. They also come from different issuers: GraniteShares and WisdomTree. Their fees differ too: 3.19% for HIPS and 3.20% for HYIN.
HIPS currently has the higher Sharpe Ratio (0.53 vs -0.54), 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.
Find the right allocation for HIPS and HYIN
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer