HIPS vs. JNK
Compare and contrast key facts about GraniteShares HIPS US High Income ETF (HIPS) and SPDR Barclays High Yield Bond ETF (JNK).
HIPS and JNK are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HIPS is a passively managed fund by GraniteShares that tracks the performance of the TFMS HIPS Index. It was launched on Jan 6, 2015. JNK is a passively managed fund by State Street that tracks the performance of the Barclays Capital High Yield Very Liquid Index. It was launched on Nov 28, 2007. Both HIPS and JNK are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: HIPS or JNK.
Key characteristics
| HIPS | JNK | |
|---|---|---|
| YTD Return | 12.67% | 8.11% |
| 1Y Return | 21.78% | 13.99% |
| 3Y Return (Ann) | 3.46% | 2.25% |
| 5Y Return (Ann) | 4.94% | 3.54% |
| Sharpe Ratio | 2.25 | 2.92 |
| Sortino Ratio | 3.05 | 4.51 |
| Omega Ratio | 1.43 | 1.57 |
| Calmar Ratio | 2.19 | 1.94 |
| Martin Ratio | 17.87 | 22.93 |
| Ulcer Index | 1.19% | 0.61% |
| Daily Std Dev | 9.47% | 4.82% |
| Max Drawdown | -53.14% | -38.48% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between HIPS and JNK is 0.55, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
HIPS vs. JNK - Performance Comparison
In the year-to-date period, HIPS achieves a 12.67% return, which is significantly higher than JNK's 8.11% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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HIPS vs. JNK - Expense Ratio Comparison
HIPS has a 3.19% expense ratio, which is higher than JNK's 0.40% expense ratio.
Risk-Adjusted Performance
HIPS vs. JNK - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares HIPS US High Income ETF (HIPS) and SPDR Barclays High Yield Bond ETF (JNK). 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.
Dividends
HIPS vs. JNK - Dividend Comparison
HIPS's dividend yield for the trailing twelve months is around 10.01%, more than JNK's 6.53% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HIPS GraniteShares HIPS US High Income ETF | 10.01% | 10.37% | 10.81% | 8.47% | 9.54% | 7.59% | 8.70% | 7.31% | 7.24% | 6.51% | 0.00% | 0.00% |
JNK SPDR Barclays High Yield Bond ETF | 6.53% | 6.38% | 6.06% | 4.26% | 5.11% | 5.44% | 5.90% | 5.60% | 6.06% | 6.60% | 5.99% | 6.05% |
Drawdowns
HIPS vs. JNK - Drawdown Comparison
The maximum HIPS drawdown since its inception was -53.14%, which is greater than JNK's maximum drawdown of -38.48%. Use the drawdown chart below to compare losses from any high point for HIPS and JNK. For additional features, visit the drawdowns tool.
Volatility
HIPS vs. JNK - Volatility Comparison
GraniteShares HIPS US High Income ETF (HIPS) has a higher volatility of 2.55% compared to SPDR Barclays High Yield Bond ETF (JNK) at 1.10%. This indicates that HIPS's price experiences larger fluctuations and is considered to be riskier than JNK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.