waders vs hip boot

waders and hip boot both are nouns.

Word	Noun	Adjective	Verb	Adverb
waders	Yes	No	No	No
hip boot	Yes	No	No	No

As nouns, hip boot is a hypernym of waders; that is, hip boot is a word with a broader meaning than waders:

waders: waterproof hip boots (sometimes extending to the chest) worn by anglers
hip boot: a very high boot; used especially for fishing

Other hypernyms of waders include thigh boot.

waders (noun)	hip boot (noun)
waterproof hip boots (sometimes extending to the chest) worn by anglers	a very high boot; used especially for fishing