# HIPS (GraniteShares HIPS US High Income ETF)

GraniteShares · Income ETFs · data as of Sep 11, 2026

Over the year to Sep 11, 2026, HIPS paid 10.6% in cash and still finished 11.7 points behind SPY.

## Key facts

- HIPS, cash paid, 1 year, on its starting price: 10.6%, as of Sep 11, 2026.
- HIPS, total return, 1 year: +5.8%, as of Sep 11, 2026.
- HIPS, against SPY: −11.7 pts, as of Sep 11, 2026.
- HIPS, return of capital, latest payout (GraniteShares estimate): 29.4%, as of Sep 11, 2026.
- HIPS, net assets: $125m (issuer page, as of Sep 10, 2026).
- HIPS, expense ratio: 1.17% (485BPOS XBRL, Oct 24, 2025).

## HIPS over each window to Sep 11, 2026

| Window | Cash paid | Price | Total return | SPY | Ahead or behind |
| --- | --- | --- | --- | --- | --- |
| 3 months | 2.8% | +0.2% | +3.0% | +3.3% | −0.3 pts |
| 6 months | 5.6% | 0.0% | +5.7% | +16.0% | −10.4 pts |
| 1 year | 10.6% | −5.2% | +5.8% | +17.5% | −11.7 pts |
| 3 years | 32.0% | −4.2% | +31.4% | +77.9% | −46.5 pts |
| Since launch | 74.2% | −42.5% | +63.6% | +357.8% | −294.1 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Strategy | covered call | ETFIQ |
| Benchmark | S&P 500 (SPY), used as a default proxy (proxy) | ETFIQ |
| Pays | monthly | ETFIQ |
| Net assets | $125m | issuer page, as of Sep 10, 2026 |
| Latest payout, annualized | 11.1% | ETFIQ |
| Expense ratio | 1.17% | 485BPOS XBRL, Oct 24, 2025 |
| Cash paid, last 12 months, over today’s price | 11.1% | ETFIQ |
| Launched | Jan 7, 2015 | ETFIQ |
| Return of capital, latest distribution | 29.4% | GraniteShares 19a-1 estimate |
| Pays | monthly | ETFIQ |
| Typical gap between ex-dates | 30 days | ETFIQ |
| Typical wait from ex-date to payment | 2 days | ETFIQ |
| Last paid, per share | $0.1075 ex Aug 27, 2026 | ETFIQ |
| Sum of the last 12 distributions | $1.29 | ETFIQ |

## Questions

### How much has HIPS paid over the last year?

Over the year to Sep 11, 2026, HIPS paid 10.6% of its starting price in cash distributions, while the price fell 5.2%.

### Is HIPS ahead of SPY?

Over the year to Sep 11, 2026, with every distribution reinvested, HIPS returned +5.8% against +17.5% for S&P 500 (SPY), used as a default proxy, so a holder was behind it by 11.7 points.

### How often does HIPS pay, and how much?

HIPS pays monthly. The latest distribution annualizes to 11.1% at its price on Sep 11, 2026, which is not a promise; the next one can differ.

### Is the HIPS distribution return of capital?

GraniteShares estimates 29% of the distribution paid Apr 30, 2024 was return of capital. That is a tax characterization from the fund's own 19a-1 notice, not a measure of erosion.

### When does HIPS next pay a distribution?

HIPS pays monthly. The last distribution went ex on Aug 27, 2026 at $0.1075 a share. The next is not declared; on a cadence of about 30 days the ex-date falls near Sep 28, 2026, which is an ETFIQ projection. Payment usually follows the ex-date by 2 days.

### What does HIPS cost?

The prospectus expense ratio is 1.17% a year.


## Cite this page

ETFIQ, HIPS, data as of Sep 11, 2026. https://etfiq.com/funds/hips
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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