Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 05/06/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
5.3%
1 yr return
22.0%
3 Yr Avg Return
3.4%
5 Yr Avg Return
3.4%
Net Assets
$67.8 M
Holdings in Top 10
25.1%
Expense Ratio 1.99%
Front Load N/A
Deferred Load N/A
Turnover 65.00%
Redemption Fee N/A
Standard (Taxable)
N/A
IRA
N/A
Fund Type
Exchange Traded Fund
Name
As of 05/06/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Fund employs a “passive management”—or indexing—investment approach designed to track the performance of the Index. The rules-based Index measures the performance of up to 40 high income U.S.-listed securities that typically have “pass-through” structures that require them to distribute substantially all of their earnings to shareholders as cash distributions. This “high income, pass-through” strategy is known as HIPS.
The Index
The Index is constructed to capture up to 40 high income securities, typically with pass-through structures, across the following sectors: (i) closed-end funds (“CEFs”), (ii) real estate investment trusts (“REITS”), (iii) asset management and business development companies (“BDCs”), and (iv) energy production and energy transportation and processing companies. Energy-related companies included in the Index are structured as master limited partnerships (“MLPs”).
The Index applies a quantitative screen to the securities in such sectors for minimum market capitalizations and minimum liquidity thresholds. The Index then selects up to 10 securities with the highest yield and lowest volatility over a prescribed time period for each sector with all securities equally weighted. Each sector is weighted at 25% at each index reconstitution/rebalancing. The Index may include small, mid-, and large-capitalization companies meeting the screening criteria.
The Index is reconstituted annually and rebalanced quarterly.
The Fund’s Investment Strategy
The Fund attempts to invest all, or substantially all, of its assets in the securities that make up the Index. The Fund will generally use a “replication” strategy to achieve its investment objective, meaning it generally will invest in all of the component securities of the Index, but may, when the adviser believes it is in the best interests of the Fund, use a “representative sampling” strategy, meaning it may invest in a sample of the securities in the Index whose risk, return and other characteristics are expected to closely resemble the risk, return and other characteristics of the Index as a whole.
Under normal circumstances, at least 80% of the Fund’s total assets (exclusive of collateral held from securities lending) will be invested in the component securities of the Index and investments that have economic characteristics that are substantially identical to the economic characteristics of such component securities. GraniteShares Advisors LLC (“GraniteShares” or the “Adviser”), the Fund’s investment adviser, expects that, over time, the correlation between the Fund’s performance and that of the Index, before fees and expenses, will be 95% or better.
Concentration Policy
To the extent the Index concentrates (i.e., holds 25% or more of its total assets) in the securities of a particular industry or group of related industries, the Fund will concentrate its investments to approximately the same extent as the Index.
Period | HIPS Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.3% | -1.8% | 18.2% | 23.05% |
1 Yr | 22.0% | -2.4% | 43.5% | 5.08% |
3 Yr | 3.4%* | -8.2% | 9.9% | 27.37% |
5 Yr | 3.4%* | 0.0% | 12.9% | 96.15% |
10 Yr | N/A* | -0.6% | 11.2% | N/A |
* Annualized
Period | HIPS Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.3% | -6.9% | 29.3% | 84.01% |
2022 | -21.6% | -37.4% | -8.2% | 64.81% |
2021 | 12.6% | -9.8% | 25.4% | 12.77% |
2020 | -20.4% | -21.0% | 25.4% | 99.63% |
2019 | 14.5% | -8.3% | 27.9% | 51.54% |
Period | HIPS Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 5.3% | -1.8% | 18.2% | 23.05% |
1 Yr | 22.0% | -2.4% | 43.5% | 5.08% |
3 Yr | 3.4%* | -8.2% | 9.9% | 27.37% |
5 Yr | 3.4%* | 0.0% | 12.9% | 96.15% |
10 Yr | N/A* | -0.6% | 11.2% | N/A |
* Annualized
Period | HIPS Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 15.0% | -0.9% | 33.0% | 61.22% |
2022 | -12.9% | -36.0% | -0.9% | 23.34% |
2021 | 22.7% | -7.8% | 33.9% | 6.03% |
2020 | -11.5% | -16.2% | 25.4% | 99.25% |
2019 | 20.3% | 7.3% | 34.8% | 69.23% |
HIPS | Category Low | Category High | HIPS % Rank | |
---|---|---|---|---|
Net Assets | 67.8 M | 1.11 M | 120 B | 91.53% |
Number of Holdings | 40 | 4 | 2543 | 40.68% |
Net Assets in Top 10 | 14.9 M | 1.16 M | 30.6 B | 95.93% |
Weighting of Top 10 | 25.13% | 19.2% | 102.8% | 93.56% |
Weighting | Return Low | Return High | HIPS % Rank | |
---|---|---|---|---|
Stocks | 98.12% | 0.00% | 100.68% | 43.73% |
Cash | 1.88% | -7.71% | 88.58% | 40.68% |
Convertible Bonds | 0.45% | 0.00% | 26.48% | 35.15% |
Preferred Stocks | 0.00% | 0.00% | 18.74% | 92.54% |
Other | 0.00% | -0.07% | 31.76% | 88.47% |
Bonds | 0.00% | 0.00% | 104.29% | 94.58% |
Weighting | Return Low | Return High | HIPS % Rank | |
---|---|---|---|---|
Financial Services | 28.54% | 0.28% | 52.80% | 3.07% |
Energy | 24.98% | 0.00% | 29.22% | 1.02% |
Real Estate | 23.70% | 0.00% | 33.86% | 1.02% |
Healthcare | 8.76% | 0.00% | 36.30% | 95.90% |
Technology | 3.62% | 3.31% | 52.93% | 99.66% |
Industrials | 2.83% | 1.16% | 32.55% | 98.63% |
Consumer Defense | 2.59% | 0.00% | 14.86% | 92.15% |
Communication Services | 1.95% | 0.00% | 26.62% | 97.27% |
Consumer Cyclical | 1.75% | 0.00% | 16.01% | 97.61% |
Utilities | 0.77% | 0.00% | 31.67% | 93.86% |
Basic Materials | 0.52% | 0.00% | 11.49% | 98.29% |
Weighting | Return Low | Return High | HIPS % Rank | |
---|---|---|---|---|
US | 98.12% | 0.00% | 100.68% | 43.73% |
Non US | 0.00% | 0.00% | 20.23% | 92.20% |
HIPS Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.99% | 0.04% | 4.67% | 4.75% |
Management Fee | 0.70% | 0.00% | 1.25% | 88.47% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.28% | N/A |
HIPS Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
HIPS Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.00% | 2.00% | N/A |
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
HIPS Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 65.00% | 4.00% | 236.00% | 78.85% |
HIPS | Category Low | Category High | HIPS % Rank | |
---|---|---|---|---|
Dividend Yield | 10.14% | 0.00% | 10.29% | 1.02% |
HIPS | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Annual | Quarterly | Annual |
HIPS | Category Low | Category High | HIPS % Rank | |
---|---|---|---|---|
Net Income Ratio | 6.07% | -1.12% | 6.07% | 0.35% |
HIPS | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Date | Amount | Type |
---|---|---|
Apr 30, 2024 | $0.076 | OrdinaryDividend |
Mar 28, 2024 | $0.099 | OrdinaryDividend |
Feb 29, 2024 | $0.108 | OrdinaryDividend |
Jan 31, 2024 | $0.108 | OrdinaryDividend |
Dec 29, 2023 | $0.108 | OrdinaryDividend |
Nov 30, 2023 | $0.108 | OrdinaryDividend |
Oct 31, 2023 | $0.108 | OrdinaryDividend |
Sep 29, 2023 | $0.108 | OrdinaryDividend |
Aug 31, 2023 | $0.108 | OrdinaryDividend |
Jul 31, 2023 | $0.108 | OrdinaryDividend |
Jun 30, 2023 | $0.108 | OrdinaryDividend |
May 31, 2023 | $0.108 | OrdinaryDividend |
Apr 28, 2023 | $0.077 | OrdinaryDividend |
Mar 31, 2023 | $0.077 | OrdinaryDividend |
Feb 28, 2023 | $0.086 | OrdinaryDividend |
Jan 31, 2023 | $0.098 | OrdinaryDividend |
Dec 30, 2022 | $0.108 | OrdinaryDividend |
Nov 30, 2022 | $0.108 | OrdinaryDividend |
Oct 31, 2022 | $0.108 | OrdinaryDividend |
Sep 30, 2022 | $0.080 | OrdinaryDividend |
Aug 31, 2022 | $0.108 | OrdinaryDividend |
Jul 29, 2022 | $0.058 | OrdinaryDividend |
Jun 30, 2022 | $0.079 | OrdinaryDividend |
May 31, 2022 | $0.105 | OrdinaryDividend |
Apr 29, 2022 | $0.097 | OrdinaryDividend |
Mar 31, 2022 | $0.089 | OrdinaryDividend |
Feb 28, 2022 | $0.108 | OrdinaryDividend |
Jan 31, 2022 | $0.108 | OrdinaryDividend |
Jan 03, 2022 | $0.108 | OrdinaryDividend |
Nov 19, 2021 | $0.108 | OrdinaryDividend |
Oct 15, 2021 | $0.108 | OrdinaryDividend |
Sep 17, 2021 | $0.108 | OrdinaryDividend |
Aug 20, 2021 | $0.108 | OrdinaryDividend |
Jul 16, 2021 | $0.108 | OrdinaryDividend |
Jun 18, 2021 | $0.050 | OrdinaryDividend |
May 21, 2021 | $0.050 | OrdinaryDividend |
Apr 16, 2021 | $0.050 | OrdinaryDividend |
Mar 19, 2021 | $0.050 | OrdinaryDividend |
Feb 19, 2021 | $0.050 | OrdinaryDividend |
Jan 15, 2021 | $0.050 | OrdinaryDividend |
Jan 04, 2021 | $0.090 | OrdinaryDividend |
Nov 20, 2020 | $0.090 | OrdinaryDividend |
Oct 16, 2020 | $0.090 | OrdinaryDividend |
Sep 18, 2020 | $0.090 | OrdinaryDividend |
Aug 21, 2020 | $0.108 | OrdinaryDividend |
Jul 17, 2020 | $0.108 | OrdinaryDividend |
Jun 19, 2020 | $0.108 | OrdinaryDividend |
May 15, 2020 | $0.108 | OrdinaryDividend |
Apr 17, 2020 | $0.108 | OrdinaryDividend |
Mar 20, 2020 | $0.108 | OrdinaryDividend |
Feb 21, 2020 | $0.108 | OrdinaryDividend |
Jan 17, 2020 | $0.108 | OrdinaryDividend |
Jan 02, 2020 | $0.030 | OrdinaryDividend |
Nov 15, 2019 | $0.030 | OrdinaryDividend |
Oct 18, 2019 | $0.030 | OrdinaryDividend |
Sep 20, 2019 | $0.030 | OrdinaryDividend |
Aug 16, 2019 | $0.030 | OrdinaryDividend |
Jul 19, 2019 | $0.030 | OrdinaryDividend |
Jun 21, 2019 | $0.108 | OrdinaryDividend |
May 17, 2019 | $0.108 | OrdinaryDividend |
Apr 18, 2019 | $0.108 | OrdinaryDividend |
Mar 15, 2019 | $0.108 | OrdinaryDividend |
Feb 15, 2019 | $0.108 | OrdinaryDividend |
Jan 18, 2019 | $0.108 | OrdinaryDividend |
Jan 02, 2019 | $0.108 | OrdinaryDividend |
Nov 16, 2018 | $0.108 | OrdinaryDividend |
Oct 19, 2018 | $0.108 | OrdinaryDividend |
Sep 21, 2018 | $0.108 | OrdinaryDividend |
Aug 17, 2018 | $0.108 | OrdinaryDividend |
Jul 20, 2018 | $0.108 | OrdinaryDividend |
Jun 15, 2018 | $0.108 | OrdinaryDividend |
May 18, 2018 | $0.108 | OrdinaryDividend |
Apr 20, 2018 | $0.108 | OrdinaryDividend |
Mar 16, 2018 | $0.108 | OrdinaryDividend |
Feb 16, 2018 | $0.108 | OrdinaryDividend |
Jan 19, 2018 | $0.108 | OrdinaryDividend |
Jan 02, 2018 | $0.108 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Dec 18, 2017
4.45
4.5%
Jeff Klearman has been Portfolio Manager at GraniteShares since 2017. Mr. Klearman has many years experience working as a trader, structurer, marketer and researcher. Most recently, Mr. Klearman was the Chief Investment Officer for Rich Investment Services, a company which created, listed and managed ETFs. Prior to Rich Investment Services, Mr. Klearman headed the New York Commodities Structuring desk at Deutsche Bank AG. From 2004 to 2007, Mr. Klearman headed the marketing and structuring effort for rates based structured products at BNP Paribas in New York. Mr. Klearman worked at AIG Financial Products from 1994 to 2004 trading rates-based volatility products as well as marketing and structuring. Mr. Klearman received his MBA in Finance from NYU Stern School of Business and his Bachelors of Science in Chemical Engineering from Purdue University.
Start Date
Tenure
Tenure Rank
Dec 18, 2017
4.45
4.5%
Mr. Autier started his career in 1999 at KPMG Audit in Paris before moving in 2003 to Ricol & Lasteyrie (member of the E&Y Corporate Finance network). He joined ETF Securities in 2005, where he worked for over 10 years in London and New York. While at ETF Securities, Mr. Autier was Head of Product Management, overseeing the operation of more than 300 exchange-traded products. Between 2015 and 2016, Mr. Autier worked at the World Gold Council in New York. Mr. Autier received a Master in Finance from the London Business School in 2005.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 38.44 | 7.39 | 2.41 |
Dividend Investing Ideas Center
Have you ever wished for the safety of bonds, but the return potential...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...
Dividend Investing Ideas Center
If you are reaching retirement age, there is a good chance that you...