CDEI vs. MLPI

Last updated Jun 24, 2026

CDEI (Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF) and MLPI (NEOS MLP & Energy Infrastructure High Income ETF) are both exchange-traded funds - CDEI is a Large Cap Blend Equities fund tracking the Russell 1000 Index, while MLPI is a MLPs fund actively managed by NEOS. CDEI is passively managed, while MLPI is actively managed. At a correlation of -0.18, they often move in opposite directions. CDEI charges 0.14%/yr vs 0.68%/yr for MLPI.

Performance

CDEI vs. MLPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF (CDEI) 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, CDEI achieves a 8.20% return, which is significantly lower than MLPI's 19.61% return.

CDEI

• 1D: -0.78%
• 1M: -0.63%
• YTD: 8.20%
• 6M: 7.48%
• 1Y: 24.61%
• 3Y*: 18.24%
• 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)

CDEI vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
CDEI Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF	8.20%	2.03%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	19.61%	0.36%

Correlation

The correlation between CDEI and MLPI is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	-0.18

Return for Risk

CDEI vs. MLPI — Risk / Return Rank

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

CDEI

CDEI Risk / Return Rank: 63
CDEI Sharpe Ratio Rank: 67
CDEI Sortino Ratio Rank: 66
CDEI Omega Ratio Rank: 62
CDEI Calmar Ratio Rank: 55
CDEI Martin Ratio Rank: 64

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.

CDEI vs. MLPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF (CDEI) 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.

	CDEI	MLPI	Difference
Sharpe ratio: Return per unit of total volatility	2.00	—	—
Sortino ratio: Return per unit of downside risk	2.78	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	2.50	—	—
Martin ratio: Return relative to average drawdown	10.74	—	—

Drawdowns

CDEI vs. MLPI - Drawdown Comparison

The maximum CDEI drawdown since its inception was -19.46%, which is greater than MLPI's maximum drawdown of -5.38%. Use the drawdown chart below to compare losses from any high point for CDEI and MLPI.

Drawdown Indicators

	CDEI	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	-19.46%	-5.38%	-14.08%
Max Drawdown (1Y) Largest decline over 1 year	-9.88%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-19.46%	—	—
Current Drawdown Current decline from peak	-1.64%	-2.18%	+0.54%
Average Drawdown Average peak-to-trough decline	-2.27%	-1.49%	-0.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.30%	—	—

Volatility

Volatility by Period

	CDEI	MLPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.22%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.79%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.41%	13.05%	-0.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.08%	13.05%	+2.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.08%	13.05%	+2.03%

CDEI vs. MLPI - Expense Ratio Comparison

CDEI has a 0.14% expense ratio, which is lower than MLPI's 0.68% expense ratio.

Dividends

CDEI vs. MLPI - Dividend Comparison

CDEI's dividend yield for the trailing twelve months is around 1.01%, less than MLPI's 7.19% yield.

Position	TTM	2025	2024	2023
CDEI Calvert US Large-Cap Diversity, Equity And Inclusion Index ETF	1.01%	1.05%	1.22%	1.16%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	7.19%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CDEI and MLPI in my portfolio?

CDEI and MLPI have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CDEI or MLPI?

On fees, CDEI is cheaper at 0.14% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CDEI or MLPI?

CDEI is cheaper with a 0.14% expense ratio, compared with 0.68% for MLPI.

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

MLPI has the higher dividend yield at 7.19%, compared with 1.01% for CDEI.

What is the main difference between CDEI and MLPI?

CDEI is categorized as Large Cap Blend Equities, while MLPI is MLPs. They also come from different issuers: Calvert and NEOS. Their fees differ too: 0.14% for CDEI and 0.68% for MLPI.