HIPS vs. NTSE

Last updated Jun 4, 2026

HIPS (GraniteShares HIPS US High Income ETF) and NTSE (WisdomTree Emerging Markets Efficient Core Fund) are both Diversified Portfolio funds. HIPS is passively managed, while NTSE is actively managed. Over the past 5 years, HIPS returned 3.96%/yr vs 6.43%/yr for NTSE. At a 0.43 correlation, their price movements are largely independent. HIPS charges 3.19%/yr vs 0.38%/yr for NTSE.

Performance

HIPS vs. NTSE - Performance Comparison

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

Returns By Period

In the year-to-date period, HIPS achieves a 3.28% return, which is significantly lower than NTSE's 32.02% 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%

NTSE

• 1D: -1.17%
• 1M: 11.32%
• YTD: 32.02%
• 6M: 34.98%
• 1Y: 64.08%
• 3Y*: 25.03%
• 5Y*: 6.43%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HIPS vs. NTSE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
HIPS GraniteShares HIPS US High Income ETF	3.28%	1.00%	13.71%	16.09%	-13.47%	5.24%
NTSE WisdomTree Emerging Markets Efficient Core Fund	32.02%	36.29%	4.42%	9.47%	-26.31%	-5.66%

Correlation

The correlation between HIPS and NTSE is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (All Time) Calculated using the full available price history since May 21, 2021	0.43

The correlation between HIPS and NTSE shifts across timeframes, from 0.32 (1 year) to 0.43 (5 years), reflecting how their relationship changes across market environments.

HIPS vs. NTSE - Sectors Allocation Comparison

Sectors	HIPS	NTSE
Energy	32.7%	0.1%
Real Estate	31.7%	0.1%
Financial Services	31.6%	2.1%
Basic Materials	4.0%	0.5%
Communication Services	0.0%	1.8%
Consumer Cyclical	-	2.2%
Consumer Defensive	-	0.3%
Healthcare	-	0.2%
Industrials	-	0.2%
Technology	-	0.8%
Utilities	-	0.0%

Return for Risk

HIPS vs. NTSE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HIPS

HIPS Risk / Return Rank: 20
HIPS Sharpe Ratio Rank: 19
HIPS Sortino Ratio Rank: 18
HIPS Omega Ratio Rank: 18
HIPS Calmar Ratio Rank: 22
HIPS Martin Ratio Rank: 22

NTSE

NTSE Risk / Return Rank: 87
NTSE Sharpe Ratio Rank: 90
NTSE Sortino Ratio Rank: 88
NTSE Omega Ratio Rank: 89
NTSE Calmar Ratio Rank: 83
NTSE Martin Ratio Rank: 84

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. NTSE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares HIPS US High Income ETF (HIPS) and WisdomTree Emerging Markets Efficient Core Fund (NTSE). 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	NTSE	Difference
Sharpe ratio: Return per unit of total volatility	0.65	3.11	-2.45
Sortino ratio: Return per unit of downside risk	0.97	4.07	-3.10
Omega ratio: Gain probability vs. loss probability	1.11	1.57	-0.45
Calmar ratio: Return relative to maximum drawdown	1.01	4.54	-3.53
Martin ratio: Return relative to average drawdown	2.70	17.57	-14.86
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. NTSE - Sharpe Ratio Comparison

The current HIPS Sharpe Ratio is 0.65, which is lower than the NTSE Sharpe Ratio of 3.11. The chart below compares the historical Sharpe Ratios of HIPS and NTSE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HIPS	NTSE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.65	3.11	-2.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.34	-0.04
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	0.38	-0.16

Drawdowns

HIPS vs. NTSE - Drawdown Comparison

The maximum HIPS drawdown since its inception was -53.14%, which is greater than NTSE's maximum drawdown of -42.84%. Use the drawdown chart below to compare losses from any high point for HIPS and NTSE.

Drawdown Indicators

	HIPS	NTSE	Difference
Max Drawdown Largest peak-to-trough decline	-53.14%	-42.84%	-10.30%
Max Drawdown (1Y) Largest decline over 1 year	-6.15%	-14.20%	+8.05%
Max Drawdown (3Y) Largest decline over 3 years	-15.41%	-18.73%	+3.32%
Max Drawdown (5Y) Largest decline over 5 years	-21.28%	-42.84%	+21.56%
Max Drawdown (10Y) Largest decline over 10 years	-53.14%	—	—
Current Drawdown Current decline from peak	-4.23%	-1.17%	-3.06%
Average Drawdown Average peak-to-trough decline	-7.39%	-19.74%	+12.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	3.66%	-1.37%

Volatility

HIPS vs. NTSE - Volatility Comparison

The current volatility for GraniteShares HIPS US High Income ETF (HIPS) is 1.77%, while WisdomTree Emerging Markets Efficient Core Fund (NTSE) has a volatility of 9.08%. This indicates that HIPS experiences smaller price fluctuations and is considered to be less risky than NTSE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIPS	NTSE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.77%	9.08%	-7.31%
Volatility (6M) Calculated over the trailing 6-month period	7.05%	18.18%	-11.13%
Volatility (1Y) Calculated over the trailing 1-year period	9.57%	20.73%	-11.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.29%	19.26%	-5.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.07%	19.23%	-1.16%

HIPS vs. NTSE - Expense Ratio Comparison

HIPS has a 3.19% expense ratio, which is higher than NTSE's 0.38% expense ratio.

Dividends

HIPS vs. NTSE - Dividend Comparison

HIPS's dividend yield for the trailing twelve months is around 11.19%, more than NTSE's 2.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
NTSE WisdomTree Emerging Markets Efficient Core Fund	2.51%	3.35%	3.23%	2.44%	3.22%	2.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HIPS and NTSE in my portfolio?

HIPS and NTSE have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HIPS or NTSE?

NTSE has higher volatility (9.08%) compared to HIPS (1.77%). In terms of maximum drawdown, HIPS dropped -53.14% vs NTSE's -42.84%.

Which ETF is better, HIPS or NTSE?

On 5-year performance, NTSE leads with 6.43% vs 3.96% for HIPS. On fees, NTSE is cheaper at 0.38% 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.

Which ETF has performed better, HIPS or NTSE?

Over the 5-year period, NTSE has performed better with a 6.43% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HIPS or NTSE?

NTSE is cheaper with a 0.38% expense ratio, compared with 3.19% for HIPS.

Which ETF pays a higher dividend yield, HIPS or NTSE?

HIPS has the higher dividend yield at 11.19%, compared with 2.51% for NTSE.

What is the main difference between HIPS and NTSE?

They also come from different issuers: GraniteShares and WisdomTree. Their fees differ too: 3.19% for HIPS and 0.38% for NTSE.

Which has better risk-adjusted returns?

NTSE currently has the higher Sharpe Ratio (3.11 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.