HIPS: Paying Out More Than It Earns (Rating Downgrade)

2025-10-14 13:52:58 ET

Overview

I believe that GraniteShares HIPS US High Income ETF ( HIPS ) can be considered a "fund of funds" due to its blend of different asset classes that are highly diverse on their own. HIPS has exposure to highly diversified REITs, Closed-End funds, Master Limited Partnerships, and Business Development Companies. Many of these assets already have a diversified business portfolio that spans across several sectors. When I previously covered HIPS, I initiated a buy rating due to its superior income capabilities and its tax-efficient use of return of capital. After measuring its performance over the last few months, I wanted to reassess its performance and outlook going forward....

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