HIPS vs. WEEK

Last updated Jun 3, 2026

HIPS (GraniteShares HIPS US High Income ETF) and WEEK (Roundhill Weekly T-Bill ETF) are both exchange-traded funds - HIPS is a Diversified Portfolio fund tracking the TFMS HIPS Index, while WEEK is a Ultrashort Bond fund actively managed by Roundhill. HIPS is passively managed, while WEEK is actively managed. Over the past year, HIPS returned 8.09% vs 3.80% for WEEK. At a correlation of -0.02, they often move in opposite directions. HIPS charges 3.19%/yr vs 0.19%/yr for WEEK.

Performance

HIPS vs. WEEK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares HIPS US High Income ETF (HIPS) and Roundhill Weekly T-Bill ETF (WEEK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HIPS achieves a 4.11% return, which is significantly higher than WEEK's 1.42% return.

HIPS

• 1D: -0.09%
• 1M: -3.46%
• YTD: 4.11%
• 6M: 3.85%
• 1Y: 8.09%
• 3Y*: 11.23%
• 5Y*: 4.18%
• 10Y*: 5.64%

WEEK

• 1D: 0.04%
• 1M: 0.29%
• YTD: 1.42%
• 6M: 1.73%
• 1Y: 3.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HIPS vs. WEEK - Yearly Performance Comparison

	2026 (YTD)	2025
HIPS GraniteShares HIPS US High Income ETF	4.11%	0.11%
WEEK Roundhill Weekly T-Bill ETF	1.42%	3.37%

Correlation

The correlation between HIPS and WEEK is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.09
Correlation (All Time) Calculated using the full available price history since Mar 7, 2025	-0.02

Return for Risk

HIPS vs. WEEK — Risk / Return Rank

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

HIPS

HIPS Risk / Return Rank: 24
HIPS Sharpe Ratio Rank: 24
HIPS Sortino Ratio Rank: 23
HIPS Omega Ratio Rank: 22
HIPS Calmar Ratio Rank: 25
HIPS Martin Ratio Rank: 24

WEEK

WEEK Risk / Return Rank: 99
WEEK Sharpe Ratio Rank: 99
WEEK Sortino Ratio Rank: 99
WEEK Omega Ratio Rank: 99
WEEK Calmar Ratio Rank: 99
WEEK Martin Ratio Rank: 99

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. WEEK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares HIPS US High Income ETF (HIPS) and Roundhill Weekly T-Bill ETF (WEEK). 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	WEEK	Difference
Sharpe ratio Return per unit of total volatility	0.85	9.27	-8.41
Sortino ratio Return per unit of downside risk	1.24	19.09	-17.85
Omega ratio Gain probability vs. loss probability	1.15	4.64	-3.50
Calmar ratio Return relative to maximum drawdown	1.23	29.45	-28.22
Martin ratio Return relative to average drawdown	3.32	263.98	-260.66
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. WEEK - Sharpe Ratio Comparison

The current HIPS Sharpe Ratio is 0.85, which is lower than the WEEK Sharpe Ratio of 9.27. The chart below compares the historical Sharpe Ratios of HIPS and WEEK, 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	WEEK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.85	9.27	-8.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	—	—
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	10.02	-9.79

Drawdowns

HIPS vs. WEEK - Drawdown Comparison

The maximum HIPS drawdown since its inception was -53.14%, which is greater than WEEK's maximum drawdown of -0.13%. Use the drawdown chart below to compare losses from any high point for HIPS and WEEK.

Drawdown Indicators

	HIPS	WEEK	Difference
Max Drawdown Largest peak-to-trough decline	-53.14%	-0.13%	-53.01%
Max Drawdown (1Y) Largest decline over 1 year	-6.15%	-0.13%	-6.02%
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 Drawdown Current decline from peak	-3.46%	0.00%	-3.46%
Average Drawdown Average peak-to-trough decline	-7.39%	-0.01%	-7.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	0.01%	+2.26%

Volatility

HIPS vs. WEEK - Volatility Comparison

GraniteShares HIPS US High Income ETF (HIPS) has a higher volatility of 1.76% compared to Roundhill Weekly T-Bill ETF (WEEK) at 0.07%. This indicates that HIPS's price experiences larger fluctuations and is considered to be riskier than WEEK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HIPS	WEEK	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.76%	0.07%	+1.69%
Volatility (6M) Calculated over the trailing 6-month period	7.00%	0.25%	+6.75%
Volatility (1Y) Calculated over the trailing 1-year period	9.55%	0.41%	+9.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.29%	0.39%	+12.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.08%	0.39%	+17.69%

HIPS vs. WEEK - Expense Ratio Comparison

HIPS has a 3.19% expense ratio, which is higher than WEEK's 0.19% expense ratio.

Dividends

HIPS vs. WEEK - Dividend Comparison

HIPS's dividend yield for the trailing twelve months is around 11.10%, more than WEEK's 3.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HIPS GraniteShares HIPS US High Income ETF	11.10%	11.04%	10.04%	10.32%	10.76%	8.43%	9.50%	6.93%	8.66%	7.28%	7.20%	8.17%
WEEK Roundhill Weekly T-Bill ETF	3.72%	3.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HIPS and WEEK in my portfolio?

HIPS and WEEK have a correlation of -0.09, 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 WEEK?

HIPS has higher volatility (1.76%) compared to WEEK (0.07%). In terms of maximum drawdown, HIPS dropped -53.14% vs WEEK's -0.13%.

Which ETF is better, HIPS or WEEK?

On 1-year performance, HIPS leads with 8.09% vs 3.80% for WEEK. On fees, WEEK is cheaper at 0.19% per year. On volatility, WEEK has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HIPS or WEEK?

Over the 1-year period, HIPS has performed better with a 8.09% return vs 3.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HIPS or WEEK?

WEEK is cheaper with a 0.19% expense ratio, compared with 3.19% for HIPS.

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

HIPS has the higher dividend yield at 11.10%, compared with 3.80% for WEEK.

What is the main difference between HIPS and WEEK?

HIPS is categorized as Diversified Portfolio, while WEEK is Ultrashort Bond. They also come from different issuers: GraniteShares and Roundhill. Their fees differ too: 3.19% for HIPS and 0.19% for WEEK.

Which has better risk-adjusted returns?

WEEK currently has the higher Sharpe Ratio (9.27 vs 0.85), 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.