HIPS vs. NVD
HIPS (GraniteShares HIPS US High Income ETF) and NVD (GraniteShares 2x Short NVDA Daily ETF) are both exchange-traded funds - HIPS is a Diversified Portfolio fund tracking the TFMS HIPS Index, while NVD is a Inverse Equities fund actively managed by GraniteShares. HIPS is passively managed, while NVD is actively managed. Over the past year, HIPS returned 5.57% vs -52.23% for NVD. Their -0.16 correlation means they have often moved in opposite directions in the past. HIPS charges 3.19%/yr vs 1.50%/yr for NVD.
Performance
HIPS vs. NVD - Performance Comparison
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Returns By Period
In the year-to-date period, HIPS achieves a 5.17% return, which is significantly higher than NVD's -41.96% return.
HIPS
- 1D
- -0.73%
- 1M
- 1.11%
- 6M
- 1.97%
- YTD
- 5.17%
- 1Y
- 5.57%
- 3Y*
- 9.09%
- 5Y*
- 4.36%
- 10Y*
- 4.88%
- ALL TIME*
- 4.18%
NVD
- 1D
- -7.16%
- 1M
- -23.71%
- 6M
- -48.51%
- YTD
- -41.96%
- 1Y
- -52.23%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -79.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $972.31K | $741.20K | $722.64K | |
| $413.83M | $389.42M | $338.83M |
HIPS vs. NVD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
HIPS GraniteShares HIPS US High Income ETF | 5.17% | 1.00% | 13.71% | 9.11% |
NVD GraniteShares 2x Short NVDA Daily ETF | -41.96% | -73.27% | -93.09% | -15.28% |
Correlation
The correlation between HIPS and NVD is -0.08, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.08 |
Correlation (All Time) Calculated using the full available price history since Aug 22, 2023 | -0.16 |
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Return for Risk
HIPS vs. NVD — Risk / Return Rank
HIPS
NVD
HIPS vs. NVD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares HIPS US High Income ETF (HIPS) and GraniteShares 2x Short NVDA Daily ETF (NVD). 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 | NVD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.29 | ||
| Sortino ratioReturn per unit of downside risk | +1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 0.90 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.91 | -0.88 | +1.78 |
| Martin ratioReturn relative to average drawdown | 2.05 | -1.55 | +3.60 |
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Drawdowns
HIPS vs. NVD - Drawdown Comparison
The maximum HIPS drawdown since its inception was -53.14%, smaller than the maximum NVD drawdown of -99.26%. Use the drawdown chart below to compare losses from any high point for HIPS and NVD.
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Drawdown Indicators
| HIPS | NVD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.14% | -99.26% | +46.12% |
Max Drawdown (1Y)Largest decline over 1 year | -6.15% | -59.80% | +53.65% |
Max Drawdown (3Y)Largest decline over 3 years | -15.41% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -21.28% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -53.14% | — | — |
Current DrawdownCurrent decline from peak | -2.48% | -99.22% | +96.74% |
Average DrawdownAverage peak-to-trough decline | -7.33% | -82.55% | +75.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.72% | 33.74% | -31.02% |
Volatility
HIPS vs. NVD - Volatility Comparison
The current volatility for GraniteShares HIPS US High Income ETF (HIPS) is 2.27%, while GraniteShares 2x Short NVDA Daily ETF (NVD) has a volatility of 25.77%. This indicates that HIPS experiences smaller price fluctuations and is considered to be less risky than NVD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIPS | NVD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.27% | 25.77% | -23.50% |
Volatility (6M)Calculated over the trailing 6-month period | 6.97% | 57.67% | -50.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.74% | 73.33% | -63.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.20% | 92.04% | -78.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.95% | 92.04% | -74.09% |
HIPS vs. NVD - Expense Ratio Comparison
HIPS has a 3.19% expense ratio, which is higher than NVD's 1.50% expense ratio.
Dividends
HIPS vs. NVD - Dividend Comparison
HIPS's dividend yield for the trailing twelve months is around 11.20%, less than NVD's 20.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HIPS GraniteShares HIPS US High Income ETF | 11.20% | 11.04% | 10.04% | 10.32% | 10.76% | 8.43% | 9.50% | 6.93% | 8.66% | 7.28% | 7.20% | 8.17% |
NVD GraniteShares 2x Short NVDA Daily ETF | 20.38% | 11.83% | 8.68% | 15.78% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HIPS and NVD have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NVD has higher volatility (25.77%) compared to HIPS (2.27%). In terms of maximum drawdown, HIPS dropped -53.14% vs NVD's -99.26%.
On 1-year performance, HIPS leads with 5.57% vs -52.23% for NVD. On fees, NVD is cheaper at 1.50% per year. On volatility, HIPS has been the lower-risk option at 2.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, HIPS has performed better with a 5.57% return vs -52.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NVD is cheaper with a 1.50% expense ratio, compared with 3.19% for HIPS.
NVD has the higher dividend yield at 20.38%, compared with 11.20% for HIPS.
HIPS is categorized as Diversified Portfolio, while NVD is Inverse Equities. Their fees differ too: 3.19% for HIPS and 1.50% for NVD.
HIPS currently has the higher Sharpe Ratio (0.57 vs -0.71), 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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