HIPS

GraniteShares HIPS US High Income ETF

Investment objective

The GraniteShares HIPS US High Income ETF seeks to track the performance, before fees and expenses, of the TFMS HIPS 300 Index.

 

Fund Prices As of 02/15/18

Nav
Net Asset Value$16.91
Daily Change $0.130.78%
Price
Close Price$16.89
Daily Change $0.090.53%

Performance As of 12/31/17

1 month 3 month YTD 1 year 3 year Since Fund Inception
HIPS NAV 1.56% 0.39% 6.52% 6.52% - 2.83%
HIPS Market Price 2.01% 0.29% 5.67% 5.67% - 2.08%
TFMS HIPS 300 Index 2.24% 1.35% 8.05% 8.05% 3.52% 3.69%

Performance data quoted represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Returns less than one year are not annualized. NAV prices are used to calculate market price performance prior to the date when the Fund first traded on the New York Stock Exchange. Market performance is determined using the bid/ask midpoint at 4:00pm Eastern time, when the NAV is typically calculated. Market performance does not represent the returns you would receive if you traded shares at other times. For the fund’s most recent month end performance, please call 1(844) 476-8747, or visit www.graniteshares.com.

Premium Discount Chart As of 02/15/18

NAV$16.91
Price$16.89
Premium Discount $-0.02-0.11%

Current Data As of 02/15/18

# of Days% of Days
-1.5% to -1% 121.71%
-1% to -0.5% 415.83%
-0.5% to 0% 20028.45%
0% to 0.5% 30843.81%
0.5% to 1% 10615.08%
1% to 1.5% 456.40%
Premium451
Nav3.000
Discount252
Greatest Premium3.78%
Greatest Discount-2.62%

 
 

Premium Discount / Frequency As of 02/15/18

How can the Fund trade at a premium/discount to its NAV?

The primary explanation is that timing discrepancies can arise between the NAV and the closing price of the Fund. Since shares of the Fund trade on the open market, prices are affected by the constant flow of information received by investors, corporations and financial institutions. Depending on how this changing information affects investor sentiment, shares of the Fund may deviate slightly from the value of the Fund's underlying assets. As a result, shareholders may pay more than NAV when they buy Fund shares and receive less than NAV when they sell those shares, because shares are purchased and sold at current market prices. However, due to the creation and redemption process that is unique to ETFs, market makers are able to minimize these deviations from NAV by taking advantage of arbitrage opportunities.

What causes these time discrepancies?

Close of Trading Times. Although both the NAV and the closing trade of the ETF are generally calculated at the closing time of 4:00 p.m. ET, some differences in this timing may cause discrepancies.

Time of Last Trade. Trading of GraniteShares ETFs generally takes place during normal trading hours (9:30 a.m. to 4:00 p.m. eastern time). However, it is important to note that the last trade, when closing price is determined, may not occur at exactly 4:00 p.m. eastern time. Therefore, any market move during the time difference may cause the NAV to deviate from the closing price.

Benchmark Sector Breakdown As of 06/30/17

Asset Management and BDCs 21%
Closed End Funds 3%
Commercial Equity REITs 21%
Energy Processing and Transportation 20%
Energy Production 1%
Mortgage REITs 15%
Residential/Diversified Equity REITs 19%

Sector breakdowns are subject to change

Top Fund Exposures As of 12/31/17

SIMON PPTY GROUP INC NEW 6.56%
BLACKSTONE GROUP LP 4.95%
ENTERPRISE PRODS PARTNERS LP COM 4.6%
WELLTOWER INC 2.87%
VENTAS INC 2.59%
ENERGY TRANSFER PARTNERS LP 2.12%
KKR & CO LP 2.11%
REALTY INCOME CORP 1.92%
INVESCO 1.8%
HOST HOTELS & RESORTS INC 1.8%

Holdings are subject to change

Key Information

Product TickerHIPS
Inception Date06 Jan 2015
BenchMarkTFMS HIPS 300
Management Fee0.70%
Acquired Fund Fees and Expenses0.72%
Gross Total Annual Fund Operating Expenses1.55%
Net Total Annual Operating Expenses*1.42%
Distribution Rate7.20%
30 DAY SEC Yield5.95%
30 DAY SEC Yield Unsubsidized5.83%
Number Of Holdings299
DistributionMonthly
CUSIP38747R306
ExchangeNYSE ARCA
Iopv TickerHIPSIV
Benchmark TickerTFMSHIPS
AUM$9,299,606.40
Shares Outstanding550,000
D2 Interactive