PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
HIPS vs. HYIN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

HIPS vs. HYIN

Last updated Jun 5, 2026

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 4.21%/yr vs -0.48%/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

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

Loading charts...

Returns By Period

In the year-to-date period, HIPS achieves a 4.55% return, which is significantly higher than HYIN's -5.23% return.

HIPS

1D
1.23%
1M
-2.34%
YTD
4.55%
6M
3.39%
1Y
7.93%
3Y*
11.34%
5Y*
4.21%
10Y*
5.57%

HYIN

1D
1.27%
1M
-3.56%
YTD
-5.23%
6M
-5.97%
1Y
-3.94%
3Y*
5.20%
5Y*
-0.48%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

HIPS vs. HYIN - Yearly Performance Comparison

2026 (YTD)20252024202320222021
HIPS
GraniteShares HIPS US High Income ETF		4.55%1.00%13.71%16.09%-13.47%6.13%
HYIN
WisdomTree Alternative Income Fund		-5.23%-0.46%7.39%21.84%-21.14%3.08%

Correlation

The correlation between HIPS and HYIN is 0.73, 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

0.71

Correlation (5Y)
Calculated over the trailing 5-year period

0.75

Correlation (All Time)
Calculated using the full available price history since May 7, 2021

0.75

The correlation between HIPS and HYIN has been stable across timeframes, ranging from 0.71 to 0.75 - a consistent structural relationship.

HIPS vs. HYIN - Sectors Allocation Comparison

Sectors
HIPS
HYIN

Energy

32.7%
0.0%

Real Estate

31.7%
63.0%

Financial Services

31.6%
37.0%

Basic Materials

4.0%
0.0%

Communication Services

0.0%
0.0%

Consumer Cyclical

-

-

Consumer Defensive

-

-

Healthcare

-

-

Industrials

-

-

Technology

-

-

Utilities

-

-

Energy

HIPS
32.7%
HYIN
0.0%

Real Estate

HIPS
31.7%
HYIN
63.0%

Financial Services

HIPS
31.6%
HYIN
37.0%

Basic Materials

HIPS
4.0%
HYIN
0.0%

Communication Services

HIPS
0.0%
HYIN
0.0%

Consumer Cyclical

HIPS

-

HYIN

-

Consumer Defensive

HIPS

-

HYIN

-

Healthcare

HIPS

-

HYIN

-

Industrials

HIPS

-

HYIN

-

Technology

HIPS

-

HYIN

-

Utilities

HIPS

-

HYIN

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

GraniteShares HIPS US High Income ETF

WisdomTree Alternative Income Fund

Often compared with HIPS:
HIPS vs. FRIAXHIPS vs. AMLPHIPS vs. YYYHIPS vs. JEPIHIPS vs. JNKHIPS vs. SCHDHIPS vs. EPI
Often compared with HYIN:
HYIN vs. BIZDHYIN vs. CEFSHYIN vs. PSPHYIN vs. MDIVHYIN vs. ARCCHYIN vs. VCLTHYIN vs. BND

Return for Risk

HIPS vs. HYIN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HIPS
HIPS Risk / Return Rank: 2525
Overall Rank
HIPS Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
HIPS Sortino Ratio Rank: 2323
Sortino Ratio Rank
HIPS Omega Ratio Rank: 2222
Omega Ratio Rank
HIPS Calmar Ratio Rank: 2727
Calmar Ratio Rank
HIPS Martin Ratio Rank: 2626
Martin Ratio Rank
HYIN
HYIN Risk / Return Rank: 66
Overall Rank
HYIN Sharpe Ratio Rank: 66
Sharpe Ratio Rank
HYIN Sortino Ratio Rank: 66
Sortino Ratio Rank
HYIN Omega Ratio Rank: 66
Omega Ratio Rank
HYIN Calmar Ratio Rank: 77
Calmar Ratio Rank
HYIN Martin Ratio Rank: 77
Martin Ratio Rank
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. 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.

HIPSHYINDifference
Sharpe ratioReturn per unit of total volatility
0.83
-0.31

+1.14

Sortino ratioReturn per unit of downside risk
1.21
-0.35

+1.56

Omega ratioGain probability vs. loss probability

1.14

0.96

+0.18

Calmar ratioReturn relative to maximum drawdown

1.29

-0.25

+1.55

Martin ratioReturn relative to average drawdown

3.46

-0.54

+4.00

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. HYIN - Sharpe Ratio Comparison

The current HIPS Sharpe Ratio is 0.83, which is higher than the HYIN Sharpe Ratio of -0.31. The chart below compares the historical Sharpe Ratios of HIPS and HYIN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

HIPSHYINDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.83

-0.31

+1.14

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.32

-0.03

+0.35

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

0.00

+0.23

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

HIPSHYINDifference

Max Drawdown

Largest 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 Drawdown

Current decline from peak

-3.05%

-11.06%

+8.01%

Average Drawdown

Average peak-to-trough decline

-7.39%

-9.02%

+1.63%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.30%

7.28%

-4.98%

Volatility

HIPS vs. HYIN - Volatility Comparison

The current volatility for GraniteShares HIPS US High Income ETF (HIPS) is 2.25%, while WisdomTree Alternative Income Fund (HYIN) has a volatility of 3.44%. 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

HIPSHYINDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.25%

3.44%

-1.19%

Volatility (6M)

Calculated over the trailing 6-month period

7.14%

10.23%

-3.09%

Volatility (1Y)

Calculated over the trailing 1-year period

9.60%

12.82%

-3.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.31%

16.81%

-3.50%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.08%

16.81%

+1.27%

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 11.05%, less than HYIN's 13.27% yield.

PositionTTM20252024202320222021202020192018201720162015
HIPS
GraniteShares HIPS US High Income ETF		11.05%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		13.27%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 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

HYIN has higher volatility (3.44%) compared to HIPS (2.25%). In terms of maximum drawdown, HIPS dropped -53.14% vs HYIN's -31.10%.

On 5-year performance, HIPS leads with 4.21% vs -0.48% for HYIN. On fees, HIPS is cheaper at 3.19% per year. On volatility, HIPS has been the lower-risk option at 2.25%. 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 4.21% return vs -0.48%. 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 13.27%, compared with 11.05% 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 (0.83 vs -0.31), 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.

Portfolio Optimizer

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