EINC vs. EMLP

Last updated Jun 23, 2026

EINC (VanEck Energy Income ETF) and EMLP (First Trust North American Energy Infrastructure Fund) are both exchange-traded funds - EINC is a Energy Equities fund tracking the MVIS North America Energy Infrastructure Index, while EMLP is a MLPs fund actively managed by First Trust. EINC is passively managed, while EMLP is actively managed. Over the past 10 years, EINC returned 11.88%/yr vs 10.13%/yr for EMLP. A 0.73 correlation means they provide meaningful diversification when combined. EINC charges 0.45%/yr vs 0.96%/yr for EMLP.

Performance

EINC vs. EMLP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Energy Income ETF (EINC) and First Trust North American Energy Infrastructure Fund (EMLP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EINC achieves a 24.27% return, which is significantly higher than EMLP's 14.75% return. Over the past 10 years, EINC has outperformed EMLP with an annualized return of 11.88%, while EMLP has yielded a comparatively lower 10.13% annualized return.

EINC

• 1D: 1.33%
• 1M: -5.79%
• YTD: 24.27%
• 6M: 25.77%
• 1Y: 27.21%
• 3Y*: 29.77%
• 5Y*: 20.86%
• 10Y*: 11.88%

EMLP

• 1D: 0.47%
• 1M: -3.16%
• YTD: 14.75%
• 6M: 15.27%
• 1Y: 19.48%
• 3Y*: 21.80%
• 5Y*: 15.66%
• 10Y*: 10.13%

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

EINC vs. EMLP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EINC VanEck Energy Income ETF	24.27%	7.11%	42.79%	15.55%	19.18%	38.05%	-19.89%	16.98%	-19.85%	-3.45%
EMLP First Trust North American Energy Infrastructure Fund	14.75%	9.67%	33.39%	8.05%	10.39%	23.20%	-13.36%	23.40%	-8.70%	1.07%

Correlation

The correlation between EINC and EMLP is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jun 21, 2012	0.73

The correlation between EINC and EMLP has been stable across timeframes, ranging from 0.73 to 0.83 - a consistent structural relationship.

EINC vs. EMLP - Sectors Allocation Comparison

Sectors	EINC	EMLP
Energy	99.4%	27.0%
Industrials	2.5%	7.9%
Utilities	0.6%	54.0%
Basic Materials	-	1.6%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

EINC vs. EMLP — Risk / Return Rank

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

EINC

EINC Risk / Return Rank: 57
EINC Sharpe Ratio Rank: 55
EINC Sortino Ratio Rank: 52
EINC Omega Ratio Rank: 52
EINC Calmar Ratio Rank: 71
EINC Martin Ratio Rank: 53

EMLP

EMLP Risk / Return Rank: 65
EMLP Sharpe Ratio Rank: 61
EMLP Sortino Ratio Rank: 64
EMLP Omega Ratio Rank: 55
EMLP Calmar Ratio Rank: 79
EMLP Martin Ratio Rank: 65

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.

EINC vs. EMLP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Energy Income ETF (EINC) and First Trust North American Energy Infrastructure Fund (EMLP). 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.

	EINC	EMLP	Difference
Sharpe ratio: Return per unit of total volatility	1.82	1.98	-0.16
Sortino ratio: Return per unit of downside risk	2.47	2.86	-0.39
Omega ratio: Gain probability vs. loss probability	1.32	1.34	-0.02
Calmar ratio: Return relative to maximum drawdown	3.47	3.96	-0.49
Martin ratio: Return relative to average drawdown	8.82	11.58	-2.75

EINC vs. EMLP - Sharpe Ratio Comparison

The current EINC Sharpe Ratio is 1.82, which is comparable to the EMLP Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of EINC and EMLP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EINC vs. EMLP - Drawdown Comparison

The maximum EINC drawdown since its inception was -87.55%, which is greater than EMLP's maximum drawdown of -43.61%. Use the drawdown chart below to compare losses from any high point for EINC and EMLP.

Drawdown Indicators

	EINC	EMLP	Difference
Max Drawdown Largest peak-to-trough decline	-87.55%	-43.61%	-43.94%
Max Drawdown (1Y) Largest decline over 1 year	-7.89%	-4.94%	-2.95%
Max Drawdown (3Y) Largest decline over 3 years	-16.01%	-11.47%	-4.54%
Max Drawdown (5Y) Largest decline over 5 years	-19.87%	-14.59%	-5.28%
Max Drawdown (10Y) Largest decline over 10 years	-68.85%	-43.61%	-25.24%
Current Drawdown Current decline from peak	-5.79%	-3.51%	-2.28%
Average Drawdown Average peak-to-trough decline	-44.16%	-5.75%	-38.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	1.69%	+1.40%

Volatility

EINC vs. EMLP - Volatility Comparison

VanEck Energy Income ETF (EINC) has a higher volatility of 6.32% compared to First Trust North American Energy Infrastructure Fund (EMLP) at 3.42%. This indicates that EINC's price experiences larger fluctuations and is considered to be riskier than EMLP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EINC	EMLP	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.32%	3.42%	+2.90%
Volatility (6M) Calculated over the trailing 6-month period	11.86%	7.89%	+3.97%
Volatility (1Y) Calculated over the trailing 1-year period	15.07%	9.92%	+5.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.54%	14.48%	+5.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.43%	17.69%	+7.74%

EINC vs. EMLP - Expense Ratio Comparison

EINC has a 0.45% expense ratio, which is lower than EMLP's 0.96% expense ratio.

Dividends

EINC vs. EMLP - Dividend Comparison

EINC's dividend yield for the trailing twelve months is around 3.56%, more than EMLP's 2.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EINC VanEck Energy Income ETF	3.56%	4.51%	3.33%	3.77%	2.89%	6.03%	6.69%	9.66%	11.31%	8.53%	9.71%	28.53%
EMLP First Trust North American Energy Infrastructure Fund	2.79%	3.18%	3.19%	3.92%	3.15%	3.29%	4.70%	3.71%	4.71%	3.80%	3.62%	4.63%

Frequently Asked Questions

Can I hold both EINC and EMLP in my portfolio?

EINC and EMLP have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EINC or EMLP?

EINC has higher volatility (6.32%) compared to EMLP (3.42%). In terms of maximum drawdown, EINC dropped -87.55% vs EMLP's -43.61%.

Which ETF is better, EINC or EMLP?

On 10-year performance, EINC leads with 11.88% vs 10.13% for EMLP. On fees, EINC is cheaper at 0.45% per year. On volatility, EMLP has been the lower-risk option at 3.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EINC or EMLP?

Over the 10-year period, EINC has performed better with a 11.88% return vs 10.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EINC or EMLP?

EINC is cheaper with a 0.45% expense ratio, compared with 0.96% for EMLP.

Which ETF pays a higher dividend yield, EINC or EMLP?

EINC has the higher dividend yield at 3.56%, compared with 2.79% for EMLP.

What is the main difference between EINC and EMLP?

EINC is categorized as Energy Equities, while EMLP is MLPs. They also come from different issuers: VanEck and First Trust. Their fees differ too: 0.45% for EINC and 0.96% for EMLP.

Which has better risk-adjusted returns?

EMLP currently has the higher Sharpe Ratio (1.98 vs 1.82), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.