HIPS vs NMT

Comparison between GraniteShares HIPS US High Income ETF (HIPS, ETF) and Nuveen Massachusetts Quality Municipal Income Fund (NMT, ETF).

5-Year PerformanceHIPS has outperformed NMT, delivering a return of +4.8% compared to +1.5%

HIPS vs NMT - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	HIPS(ETF)	NMT(ETF)
Net Assets	$116M	$116M
Expense Ratio	1.17%	N/A
Max Drawdown	61.65%	48.99%
Sharpe Ratio	0.48	1.45
5Y Beta	0.48	0.16
P/E Ratio	15.29	N/A
Forward P/E	10.20	N/A
PEG Ratio	0.09	N/A
5Y Dividends CAGR	1.61%	8.52%
P/S Ratio	2.41	N/A
P/B Ratio	1.12	N/A

Net Assets

Winner

HIPS

$116M

NMT

$116M

Expense Ratio

HIPS

1.17%

NMT

N/A

Max Drawdown

HIPS

61.65%

Winner

NMT

48.99%

Sharpe Ratio

HIPS

0.48

Winner

NMT

1.45

5Y Beta

HIPS

0.48

Winner

NMT

0.16

P/E Ratio

HIPS

15.29

NMT

N/A

Forward P/E

HIPS

10.20

NMT

N/A

PEG Ratio

HIPS

0.09

NMT

N/A

5Y Dividends CAGR

HIPS

1.61%

Winner

NMT

8.52%

P/S Ratio

HIPS

2.41

NMT

N/A

P/B Ratio

HIPS

1.12

NMT

N/A

HIPS vs NMT - Historical Returns

Returns include dividend reinvestment.

Period	HIPS	NMT
1 month	+3.70%	+0.40%
3 months	+4.06%	+2.56%
6 months	+5.53%	+11.03%
1 year	+8.55%	+21.66%
5 years(CAGR)	+4.83%	+1.50%
10 years(CAGR)	+5.14%	+2.67%
Max(CAGR)	+4.45%	+4.59%

Winner

HIPS

+3.70%

NMT

+0.40%

Winner

HIPS

+4.06%

NMT

+2.56%

HIPS

+5.53%

Winner

NMT

+11.03%

HIPS

+8.55%

Winner

NMT

+21.66%

5Y(CAGR)

Winner

HIPS

+4.83%

NMT

+1.50%

10Y(CAGR)

Winner

HIPS

+5.14%

NMT

+2.67%

Max(CAGR)

HIPS

+4.45%

Winner

NMT

+4.59%

HIPS vs NMT - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	HIPS	NMT
2026	+7.13%	+17.21%
2025	+0.92%	+5.85%
2024	+14.22%	+16.17%
2023	+14.87%	+1.52%
2022	-13.14%	-30.75%
2021	+24.50%	+9.84%
2020	-11.19%	+6.18%
2019	+22.36%	+23.70%
2018	-10.35%	-14.40%
2017	+5.25%	+13.61%
2016	+22.17%	+0.05%
2015	-15.30%	+8.91%
2014	N/A	+15.06%
2013	N/A	-16.13%
2012	N/A	+6.26%
2011	N/A	+17.17%
2010	N/A	+4.45%
2009	N/A	+43.04%
2008	N/A	-20.35%
2007	N/A	-7.15%
2006	N/A	-3.17%
2005	N/A	+3.83%
2004	N/A	+8.22%
2003	N/A	+4.73%
2002	N/A	+6.23%
2001	N/A	+12.45%
2000	N/A	+10.29%
1999	N/A	-6.15%

HIPS vs NMT Drawdown Comparison

The maximum drawdown for HIPS was -53.03%, occurring on Mar 23, 2020. Recovery took 302 trading sessions.

The maximum drawdown for NMT was -40.09%, occurring on Oct 10, 2008. Recovery took 895 trading sessions.

The current HIPS drawdown is -0.17%. The current NMT drawdown is -2.80%.

Rank	HIPS	NMT
#1	-53.03% Feb 20, 2020 - May 3, 2021	-40.09% Mar 2, 2006 - Sep 21, 2009
#2	-32.09% Feb 5, 2015 - Dec 9, 2016	-38.87% Nov 22, 2021 - May 1, 2026
#3	-21.31% Nov 16, 2021 - Feb 23, 2024	-21.46% Jan 24, 2013 - Dec 3, 2015
#4	-18.70% Aug 24, 2018 - Apr 15, 2019	-20.51% Jul 25, 2016 - Aug 1, 2019
#5	-15.41% Feb 20, 2025 - Jan 14, 2026	-18.20% Oct 21, 2010 - Jan 5, 2012
#6	-11.12% Jan 23, 2018 - Jul 6, 2018	-17.05% Jan 24, 2020 - Jul 10, 2020
#7	-6.26% Jun 14, 2021 - Oct 14, 2021	-16.42% Jun 4, 2003 - Mar 31, 2004
#8	-5.73% Apr 15, 2019 - Jul 16, 2019	-15.35% Feb 15, 2005 - Sep 7, 2005
#9	-5.69% Jul 19, 2017 - Jan 16, 2018	-13.69% Mar 31, 2004 - Oct 27, 2004
#10	-5.59% May 1, 2026 - Aug 14, 2026	-9.72% Nov 3, 1999 - Jul 27, 2000
#11	-5.44% Jul 31, 2024 - Aug 26, 2024	-8.85% Oct 7, 2009 - Mar 4, 2010
#12	-4.87% Dec 2, 2024 - Feb 14, 2025	-8.72% Feb 13, 2012 - May 2, 2012
#13	-4.63% Jul 24, 2019 - Sep 19, 2019	-8.29% Oct 8, 2002 - Mar 11, 2003
#14	-4.52% Jan 16, 2026 - Apr 15, 2026	-7.58% Oct 15, 2012 - Jan 17, 2013
#15	-4.42% Feb 21, 2017 - Apr 25, 2017	-7.49% Sep 7, 2005 - Feb 28, 2006

Correlation

Correlation between HIPS and NMT is 0.57 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.57

-101

Dividend Comparison (1999 - 2026)

HIPS vs NMT dividend yield comparison.

Year	HIPS	NMT
2026	6.35%	3.94%
2025	11.04%	7.27%
2024	10.04%	5.94%
2023	10.32%	3.06%
2022	10.76%	4.50%
2021	8.43%	3.43%
2020	9.50%	3.60%
2019	6.93%	3.46%
2018	8.66%	4.66%
2017	7.28%	4.57%
2016	7.20%	5.30%
2015	8.17%	5.15%
2014	0.00%	5.05%
2013	0.00%	5.63%
2012	0.00%	4.93%
2011	0.00%	5.24%
2010	0.00%	6.12%
2009	0.00%	5.31%
2008	0.00%	6.87%
2007	0.00%	5.04%
2006	0.00%	5.10%
2005	0.00%	5.67%
2004	0.00%	5.64%
2003	0.00%	6.12%
2002	0.00%	5.39%
2001	0.00%	6.16%
2000	0.00%	5.75%
1999	0.00%	1.00%