BESF vs. MLPI

Last updated Jun 24, 2026

BESF (Bastion Energy ETF) and MLPI (NEOS MLP & Energy Infrastructure High Income ETF) are both exchange-traded funds - BESF is a Energy Equities fund actively managed by Bastion, while MLPI is a MLPs fund actively managed by NEOS. Both are actively managed. A 0.75 correlation means they provide meaningful diversification when combined. BESF charges 0.80%/yr vs 0.68%/yr for MLPI.

Performance

BESF vs. MLPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bastion Energy ETF (BESF) 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, BESF achieves a 16.12% return, which is significantly lower than MLPI's 19.61% return.

BESF

• 1D: 1.01%
• 1M: -6.28%
• YTD: 16.12%
• 6M: 15.17%
• 1Y: 61.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MLPI

• 1D: 1.09%
• 1M: -2.18%
• YTD: 19.61%
• 6M: 18.17%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BESF vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
BESF Bastion Energy ETF	16.12%	3.98%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	19.61%	0.36%

Correlation

The correlation between BESF and MLPI is 0.75, 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	0.75

Return for Risk

BESF vs. MLPI — Risk / Return Rank

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

BESF

BESF Risk / Return Rank: 84
BESF Sharpe Ratio Rank: 86
BESF Sortino Ratio Rank: 83
BESF Omega Ratio Rank: 77
BESF Calmar Ratio Rank: 92
BESF Martin Ratio Rank: 83

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.

BESF vs. MLPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bastion Energy ETF (BESF) 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.

	BESF	MLPI	Difference
Sharpe ratio: Return per unit of total volatility	2.52	—	—
Sortino ratio: Return per unit of downside risk	3.34	—	—
Omega ratio: Gain probability vs. loss probability	1.41	—	—
Calmar ratio: Return relative to maximum drawdown	5.64	—	—
Martin ratio: Return relative to average drawdown	15.57	—	—

Drawdowns

BESF vs. MLPI - Drawdown Comparison

The maximum BESF drawdown since its inception was -10.97%, which is greater than MLPI's maximum drawdown of -5.38%. Use the drawdown chart below to compare losses from any high point for BESF and MLPI.

Drawdown Indicators

	BESF	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	-10.97%	-5.38%	-5.59%
Max Drawdown (1Y) Largest decline over 1 year	-10.97%	—	—
Current Drawdown Current decline from peak	-8.73%	-2.18%	-6.55%
Average Drawdown Average peak-to-trough decline	-2.74%	-1.49%	-1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.97%	—	—

Volatility

Volatility by Period

	BESF	MLPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.97%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.93%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	24.75%	13.05%	+11.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.39%	13.05%	+11.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.39%	13.05%	+11.34%

BESF vs. MLPI - Expense Ratio Comparison

BESF has a 0.80% expense ratio, which is higher than MLPI's 0.68% expense ratio.

Dividends

BESF vs. MLPI - Dividend Comparison

BESF's dividend yield for the trailing twelve months is around 5.86%, less than MLPI's 7.19% yield.

Position	TTM	2025
BESF Bastion Energy ETF	5.86%	6.39%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	7.19%	0.00%

Frequently Asked Questions

Can I hold both BESF and MLPI in my portfolio?

BESF and MLPI have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BESF 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, BESF or MLPI?

MLPI is cheaper with a 0.68% expense ratio, compared with 0.80% for BESF.

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

MLPI has the higher dividend yield at 7.19%, compared with 5.86% for BESF.

What is the main difference between BESF and MLPI?

BESF is categorized as Energy Equities, while MLPI is MLPs. They also come from different issuers: Bastion and NEOS. Their fees differ too: 0.80% for BESF and 0.68% for MLPI.