AMLP vs. MLPI

Last updated Jul 12, 2026

AMLP (Alerian MLP ETF) and MLPI (NEOS MLP & Energy Infrastructure High Income ETF) are both MLPs funds. AMLP is passively managed, while MLPI is actively managed. A 0.72 correlation means they provide meaningful diversification when combined. AMLP charges 0.90%/yr vs 0.68%/yr for MLPI.

Performance

AMLP vs. MLPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alerian MLP ETF (AMLP) and NEOS MLP & Energy Infrastructure High Income ETF (MLPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMLP achieves a 16.56% return, which is significantly lower than MLPI's 19.13% return.

AMLP

• 1D: -0.47%
• 1M: 1.09%
• 6M: 14.10%
• YTD: 16.56%
• 1Y: 17.02%
• 3Y*: 18.73%
• 5Y*: 16.71%
• 10Y*: 6.50%

MLPI

• 1D: -0.52%
• 1M: -0.03%
• 6M: 20.58%
• YTD: 19.13%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMLP vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
AMLP Alerian MLP ETF	16.56%	-0.11%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	19.13%	0.36%

Correlation

The correlation between AMLP and MLPI is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	0.72

Return for Risk

AMLP vs. MLPI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AMLP

AMLP Risk / Return Rank: 47
AMLP Sharpe Ratio Rank: 50
AMLP Sortino Ratio Rank: 49
AMLP Omega Ratio Rank: 47
AMLP Calmar Ratio Rank: 48
AMLP Martin Ratio Rank: 42

MLPI

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMLP vs. MLPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alerian MLP ETF (AMLP) and NEOS MLP & Energy Infrastructure High Income ETF (MLPI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AMLP	MLPI	Difference
Sharpe ratio: Return per unit of total volatility	1.41	—	—
Sortino ratio: Return per unit of downside risk	1.98	—	—
Omega ratio: Gain probability vs. loss probability	1.24	—	—
Calmar ratio: Return relative to maximum drawdown	1.94	—	—
Martin ratio: Return relative to average drawdown	5.44	—	—

Drawdowns

AMLP vs. MLPI - Drawdown Comparison

The maximum AMLP drawdown since its inception was -77.19%, which is greater than MLPI's maximum drawdown of -5.38%. Use the drawdown chart below to compare losses from any high point for AMLP and MLPI.

Drawdown Indicators

	AMLP	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	-77.19%	-5.38%	-71.81%
Max Drawdown (1Y) Largest decline over 1 year	-8.94%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.27%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.92%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-72.62%	—	—
Current Drawdown Current decline from peak	-3.90%	-2.56%	-1.34%
Average Drawdown Average peak-to-trough decline	-17.32%	-1.59%	-15.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	—	—

Volatility

Volatility by Period

	AMLP	MLPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.05%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.52%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.34%	13.31%	-0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.70%	13.31%	+6.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.64%	13.31%	+14.33%

AMLP vs. MLPI - Expense Ratio Comparison

AMLP has a 0.90% expense ratio, which is higher than MLPI's 0.68% expense ratio.

Dividends

AMLP vs. MLPI - Dividend Comparison

AMLP's dividend yield for the trailing twelve months is around 7.63%, more than MLPI's 7.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMLP Alerian MLP ETF	7.63%	8.36%	7.70%	7.86%	7.70%	8.55%	12.31%	9.12%	9.29%	7.97%	8.09%	9.84%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	7.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AMLP and MLPI in my portfolio?

AMLP and MLPI have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AMLP or MLPI?

On fees, MLPI is cheaper at 0.68% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AMLP or MLPI?

MLPI is cheaper with a 0.68% expense ratio, compared with 0.90% for AMLP.

Which ETF pays a higher dividend yield, AMLP or MLPI?

AMLP has the higher dividend yield at 7.63%, compared with 7.22% for MLPI.

What is the main difference between AMLP and MLPI?

They also come from different issuers: SS&C and NEOS. Their fees differ too: 0.90% for AMLP and 0.68% for MLPI.