DECU vs. MLPI

Last updated Jul 14, 2026

DECU (AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF) and MLPI (NEOS MLP & Energy Infrastructure High Income ETF) are both exchange-traded funds - DECU is a Defined Outcome fund actively managed by AllianzIM, while MLPI is a MLPs fund actively managed by NEOS. Both are actively managed. At a correlation of -0.26, they often move in opposite directions. DECU charges 0.74%/yr vs 0.68%/yr for MLPI.

Performance

DECU vs. MLPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF (DECU) 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, DECU achieves a 6.80% return, which is significantly lower than MLPI's 20.53% return.

DECU

• 1D: -0.63%
• 1M: 0.70%
• 6M: 5.34%
• YTD: 6.80%
• 1Y: 14.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MLPI

• 1D: 1.17%
• 1M: 1.14%
• 6M: 21.89%
• YTD: 20.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DECU vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
DECU AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF	6.80%	1.52%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	20.53%	0.36%

Correlation

The correlation between DECU and MLPI is -0.26, 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	-0.26

Return for Risk

DECU vs. MLPI — Risk / Return Rank

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

DECU

DECU Risk / Return Rank: 57
DECU Sharpe Ratio Rank: 55
DECU Sortino Ratio Rank: 53
DECU Omega Ratio Rank: 53
DECU Calmar Ratio Rank: 64
DECU Martin Ratio Rank: 61

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.

DECU vs. MLPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF (DECU) 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.

	DECU	MLPI	Difference
Sharpe ratio: Return per unit of total volatility	1.49	—	—
Sortino ratio: Return per unit of downside risk	2.08	—	—
Omega ratio: Gain probability vs. loss probability	1.27	—	—
Calmar ratio: Return relative to maximum drawdown	2.54	—	—
Martin ratio: Return relative to average drawdown	8.64	—	—

Drawdowns

DECU vs. MLPI - Drawdown Comparison

The maximum DECU drawdown since its inception was -10.66%, which is greater than MLPI's maximum drawdown of -5.38%. Use the drawdown chart below to compare losses from any high point for DECU and MLPI.

Drawdown Indicators

	DECU	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	-10.66%	-5.38%	-5.28%
Max Drawdown (1Y) Largest decline over 1 year	-5.65%	—	—
Current Drawdown Current decline from peak	-1.34%	-1.42%	+0.08%
Average Drawdown Average peak-to-trough decline	-1.73%	-1.59%	-0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.66%	—	—

Volatility

Volatility by Period

	DECU	MLPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.33%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.67%	13.34%	-3.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.80%	13.34%	-2.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.80%	13.34%	-2.54%

DECU vs. MLPI - Expense Ratio Comparison

DECU has a 0.74% expense ratio, which is higher than MLPI's 0.68% expense ratio.

Dividends

DECU vs. MLPI - Dividend Comparison

DECU has not paid dividends to shareholders, while MLPI's dividend yield for the trailing twelve months is around 7.14%.

Position	TTM
DECU AllianzIM U.S. Equity Buffer15 Uncapped Dec ETF	0.00%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	7.14%

Frequently Asked Questions

Can I hold both DECU and MLPI in my portfolio?

DECU and MLPI have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DECU 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, DECU or MLPI?

MLPI is cheaper with a 0.68% expense ratio, compared with 0.74% for DECU.

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

MLPI has the higher dividend yield at 7.14%, compared with 0.00% for DECU.

What is the main difference between DECU and MLPI?

DECU is categorized as Defined Outcome, while MLPI is MLPs. They also come from different issuers: AllianzIM and NEOS. Their fees differ too: 0.74% for DECU and 0.68% for MLPI.