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 4.79%/yr vs 0.12%/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
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Returns By Period
In the year-to-date period, HIPS achieves a 5.64% return, which is significantly higher than HYIN's -3.95% return.
HIPS
- 1D
- 0.39%
- 1M
- 2.62%
- 6M
- 1.64%
- YTD
- 5.64%
- 1Y
- 5.37%
- 3Y*
- 9.84%
- 5Y*
- 4.79%
- 10Y*
- 5.24%
HYIN
- 1D
- 0.39%
- 1M
- 1.92%
- 6M
- -6.19%
- YTD
- -3.95%
- 1Y
- -6.85%
- 3Y*
- 3.13%
- 5Y*
- 0.12%
- 10Y*
- —
HIPS vs. HYIN - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
HIPS GraniteShares HIPS US High Income ETF | 5.64% | 1.00% | 13.71% | 16.09% | -13.47% | 6.41% |
HYIN WisdomTree Alternative Income Fund | -3.95% | -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 | 0.72 |
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 6, 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.
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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 | +1.09 | ||
| Sortino ratioReturn per unit of downside risk | +1.50 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 0.93 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.88 | -0.44 | +1.32 |
| Martin ratioReturn relative to average drawdown | 2.01 | -0.84 | +2.85 |
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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.
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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 | -2.04% | -9.86% | +7.82% |
Average DrawdownAverage peak-to-trough decline | -7.36% | -9.07% | +1.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.67% | 8.18% | -5.51% |
Volatility
HIPS vs. HYIN - Volatility Comparison
The current volatility for GraniteShares HIPS US High Income ETF (HIPS) is 2.66%, while WisdomTree Alternative Income Fund (HYIN) has a volatility of 3.19%. 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.
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Volatility by Period
| HIPS | HYIN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.66% | 3.19% | -0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 7.34% | 10.30% | -2.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.71% | 12.96% | -3.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.26% | 16.76% | -3.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.97% | 16.70% | +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 11.04%, less than HYIN's 13.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HIPS GraniteShares HIPS US High Income ETF | 11.04% | 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 | 13.15% | 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 (3.19%) compared to HIPS (2.66%). In terms of maximum drawdown, HIPS dropped -53.14% vs HYIN's -31.10%.
On 5-year performance, HIPS leads with 4.79% vs 0.12% for HYIN. On fees, HIPS is cheaper at 3.19% per year. On volatility, HIPS has been the lower-risk option at 2.66%. 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 4.79% return vs 0.12%. 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 13.15%, compared with 11.04% 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 (0.56 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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