# GraniteShares HIPS US High Income ETF (HIPS): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/hips for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: GraniteShares · Asset class: Equity - Strategy: Passive Index · Inception: 2015-01-06 HIPS offers a twist on the popular multi-asset income space: a focus on pass-through securities (those that pass on most of their income to their owners). The owners pay taxes on that income, while the entities themselves dont, thereby eliminating the double taxation associated with stock dividends. The portfolio allocates equally to four alternative income segments: closed-end funds (CEFs), business development companies (BDCs), real estate investment trusts (REITs), and energy master limited partnerships (MLPs). The top 10 securities with the highest dividend yield and lowest volatility i... ## Key Facts | Metric | Value | |---|---| | Price | $10.64 | | Expense Ratio | 1.17% | | Assets Under Management | $94.4M | | NAV | $10.54 | | Holdings Count | 41 | | Distribution Yield (TTM) | 12.12% | | Annual Distribution (TTM) | $1.29 /share | | Distribution Frequency | Monthly | | 52-Week Range | $10.37 – $12.30 | | Beta | 0.65 | ## Latest Distribution - Amount: $0.1075 /share - Ex-date: 2026-09-28 - Pay date: 2026-09-30 ## Frequently Asked Questions ### What does HIPS invest in? HIPS offers a twist on the popular multi-asset income space: a focus on pass-through securities (those that pass on most of their income to their owners). The owners pay taxes on that income, while the entities themselves dont, thereby eliminating the double taxation associated with stock dividends. The portfolio allocates equally to four alternative income segments: closed-end funds (CEFs), business development companies (BDCs), real estate investment trusts (REITs), and energy master limited partnerships (MLPs). The top 10 securities with the highest dividend yield and lowest volatility in each segment are selected and weighted equally. It should be noted that while income from REITs, MLPs and BDCs can be high, these are typically taxed at ordinary-income rates instead of the beneficial qualified dividends rate. As such, investors in taxable accounts should consider their after-tax yield. Before March 16, 2023, the fund tracked the TFMS HIPS Index. ### What is the expense ratio of HIPS? GraniteShares HIPS US High Income ETF (HIPS) charges an expense ratio of 1.17%. This is the annual fee deducted from fund assets to cover management and operations. ### What is HIPS's dividend yield? HIPS's trailing-twelve-month yield is 12.12%, calculated from the sum of dividends over the past year divided by the current price. ### How big is HIPS? GraniteShares HIPS US High Income ETF (HIPS) manages $94.4M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is HIPS actively managed or an index fund? HIPS is a passive index fund. It tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (HIPS's is 1.17%) because there's no security selection cost. ### When was HIPS launched? GraniteShares HIPS US High Income ETF (HIPS) launched in January 2015 and is managed by GraniteShares. ### Does HIPS pay a dividend? Yes, GraniteShares HIPS US High Income ETF (HIPS) distributes dividends to shareholders. The trailing-twelve-month yield is 12.12%. Full dividend history is on this page. ### How often does HIPS pay dividends? GraniteShares HIPS US High Income ETF pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is HIPS's next ex-dividend date? The most recently announced ex-dividend date for HIPS was 2026-09-28. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### How much will HIPS's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 1.17% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does HIPS charge its expense ratio? The expense ratio is deducted in tiny daily slices from HIPS's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does HIPS cost more than a fund like VOO? HIPS is a passive index fund (current expense ratio 1.17%). Differences from broad-market ETFs like VOO usually come from index licensing fees, asset class (bond funds typically run cheaper than equity), or fund scale (smaller funds spread fixed operating costs across less AUM). ### Are there cheaper alternatives to HIPS? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as HIPS (1.17%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/hips - Distribution history: https://www.dividenddata.com/funds/hips/dividend - Holdings & diversification: https://www.dividenddata.com/funds/hips/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/hips/expenses - Peer comparison: https://www.dividenddata.com/funds/hips/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.