ETF overview
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.
Fund facts
- Expense ratio
- 1.17%
- Fund assets
- 93.77M USD (all share classes)
- Issuer
- GraniteShares
- Inception date
- Jan 6, 2015
- Number of holdings
- 40
Breakdown
Holdings (40)
| Name | Ticker | Weight |
|---|---|---|
| Dorchester Minerals | DMLP | 3.16% |
| CVR Partners LP and CVR Nitrogen Finance Corporation | UAN | 3.02% |
| Black Stone Minerals LP | BSM | 3.00% |
| Alliance Resource Partners, L.P. | ARLP | 2.97% |
| Capital Southwest Corporation | CSWC | 2.93% |
| MPLX LP | MPLX | 2.93% |
| Enterprise Products Partners L | EPD | 2.84% |
| BlackRock Enhanced Large Cap Core Fund Inc | CII | 2.81% |
| KIMBELL ROYALTY PARTNERS LP | KRP | 2.75% |
| FS KKR CAPITAL CORP | FSK | 2.75% |
| and 27 more | ||
Historical returns do not guarantee future returns. This is not investment advice.
- Expense ratio
- 1.17%
- Fund assets
- 93.77M USD (all share classes)
- Issuer
- GraniteShares
- Inception date
- Jan 6, 2015
- Number of holdings
- 40
| Name | Ticker | Weight |
|---|---|---|
| Dorchester Minerals | DMLP | 3.16% |
| CVR Partners LP and CVR Nitrogen Finance Corporation | UAN | 3.02% |
| Black Stone Minerals LP | BSM | 3.00% |
| Alliance Resource Partners, L.P. | ARLP | 2.97% |
| Capital Southwest Corporation | CSWC | 2.93% |
| MPLX LP | MPLX | 2.93% |
| Enterprise Products Partners L | EPD | 2.84% |
| BlackRock Enhanced Large Cap Core Fund Inc | CII | 2.81% |
| KIMBELL ROYALTY PARTNERS LP | KRP | 2.75% |
| FS KKR CAPITAL CORP | FSK | 2.75% |
| and 27 more | ||
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.
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