DVXE vs. MLPI

Last updated Jun 24, 2026

DVXE (WEBs Energy XLE Defined Volatility ETF) and MLPI (NEOS MLP & Energy Infrastructure High Income ETF) are both exchange-traded funds - DVXE is a Energy Equities fund tracking the Syntax Defined Volatility XLE Index, while MLPI is a MLPs fund actively managed by NEOS. DVXE is passively managed, while MLPI is actively managed. A 0.68 correlation means they provide meaningful diversification when combined. DVXE charges 0.89%/yr vs 0.68%/yr for MLPI.

Performance

DVXE vs. MLPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WEBs Energy XLE Defined Volatility ETF (DVXE) 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, DVXE achieves a 34.11% return, which is significantly higher than MLPI's 19.61% return.

DVXE

• 1D: 0.96%
• 1M: -8.86%
• YTD: 34.11%
• 6M: 35.08%
• 1Y: —
• 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)

DVXE vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
DVXE WEBs Energy XLE Defined Volatility ETF	34.11%	0.97%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	19.61%	0.36%

Correlation

The correlation between DVXE and MLPI is 0.68, 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	0.68

Return for Risk

DVXE vs. MLPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WEBs Energy XLE Defined Volatility ETF (DVXE) 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.

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

Drawdowns

DVXE vs. MLPI - Drawdown Comparison

The maximum DVXE drawdown since its inception was -20.56%, which is greater than MLPI's maximum drawdown of -5.38%. Use the drawdown chart below to compare losses from any high point for DVXE and MLPI.

Drawdown Indicators

	DVXE	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	-20.56%	-5.38%	-15.18%
Current Drawdown Current decline from peak	-18.58%	-2.18%	-16.40%
Average Drawdown Average peak-to-trough decline	-6.35%	-1.49%	-4.86%

Volatility

Volatility by Period

	DVXE	MLPI	Difference
Volatility (1Y) Calculated over the trailing 1-year period	31.12%	13.05%	+18.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.12%	13.05%	+18.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.12%	13.05%	+18.07%

DVXE vs. MLPI - Expense Ratio Comparison

DVXE has a 0.89% expense ratio, which is higher than MLPI's 0.68% expense ratio.

Dividends

DVXE vs. MLPI - Dividend Comparison

DVXE has not paid dividends to shareholders, while MLPI's dividend yield for the trailing twelve months is around 7.19%.

Position	TTM
DVXE WEBs Energy XLE Defined Volatility ETF	0.00%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	7.19%

Frequently Asked Questions

Can I hold both DVXE and MLPI in my portfolio?

DVXE and MLPI have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DVXE 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, DVXE or MLPI?

MLPI is cheaper with a 0.68% expense ratio, compared with 0.89% for DVXE.

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

MLPI has the higher dividend yield at 7.19%, compared with 0.00% for DVXE.

What is the main difference between DVXE and MLPI?

DVXE is categorized as Energy Equities, while MLPI is MLPs. They also come from different issuers: WEBs and NEOS. Their fees differ too: 0.89% for DVXE and 0.68% for MLPI.