EIPI vs. KNG

Last updated Jun 4, 2026

EIPI (FT Energy Income Partners Enhanced Income ETF) and KNG (FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF) are both exchange-traded funds - EIPI is a Derivative Income fund actively managed by First Trust, while KNG is a Dividend fund tracking the Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series. EIPI is actively managed, while KNG is passively managed. Over the past year, EIPI returned 21.45% vs 7.44% for KNG. At a 0.46 correlation, their price movements are largely independent. EIPI charges 1.11%/yr vs 0.75%/yr for KNG.

Performance

EIPI vs. KNG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Energy Income Partners Enhanced Income ETF (EIPI) and FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EIPI achieves a 14.55% return, which is significantly higher than KNG's 2.20% return.

EIPI

• 1D: 0.05%
• 1M: -2.14%
• YTD: 14.55%
• 6M: 13.67%
• 1Y: 21.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KNG

• 1D: -0.04%
• 1M: 0.89%
• YTD: 2.20%
• 6M: 2.33%
• 1Y: 7.44%
• 3Y*: 7.06%
• 5Y*: 4.31%
• 10Y*: —

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

EIPI vs. KNG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EIPI FT Energy Income Partners Enhanced Income ETF	14.55%	12.38%	12.83%
KNG FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF	2.20%	6.63%	2.60%

Correlation

The correlation between EIPI and KNG is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (All Time) Calculated using the full available price history since May 7, 2024	0.46

The correlation between EIPI and KNG shifts across timeframes, from 0.35 (1 year) to 0.46 (all time), reflecting how their relationship changes across market environments.

EIPI vs. KNG - Sectors Allocation Comparison

Sectors	EIPI	KNG
Energy	62.8%	3.0%
Utilities	31.0%	6.1%
Industrials	5.5%	20.3%
Basic Materials	0.7%	10.2%
Communication Services	-	-
Consumer Cyclical	-	5.5%
Consumer Defensive	-	23.5%
Financial Services	-	12.7%
Healthcare	-	10.1%
Real Estate	-	4.4%
Technology	-	4.3%

Return for Risk

EIPI vs. KNG — Risk / Return Rank

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

EIPI

EIPI Risk / Return Rank: 75
EIPI Sharpe Ratio Rank: 68
EIPI Sortino Ratio Rank: 72
EIPI Omega Ratio Rank: 63
EIPI Calmar Ratio Rank: 89
EIPI Martin Ratio Rank: 81

KNG

KNG Risk / Return Rank: 20
KNG Sharpe Ratio Rank: 21
KNG Sortino Ratio Rank: 21
KNG Omega Ratio Rank: 19
KNG Calmar Ratio Rank: 20
KNG Martin Ratio Rank: 19

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.

EIPI vs. KNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Energy Income Partners Enhanced Income ETF (EIPI) and FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG). 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.

	EIPI	KNG	Difference
Sharpe ratio: Return per unit of total volatility	2.26	0.73	+1.52
Sortino ratio: Return per unit of downside risk	3.30	1.15	+2.15
Omega ratio: Gain probability vs. loss probability	1.38	1.13	+0.26
Calmar ratio: Return relative to maximum drawdown	5.39	0.87	+4.52
Martin ratio: Return relative to average drawdown	16.30	2.25	+14.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EIPI vs. KNG - Sharpe Ratio Comparison

The current EIPI Sharpe Ratio is 2.26, which is higher than the KNG Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of EIPI and KNG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EIPI	KNG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	0.73	+1.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.32	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.52	0.49	+1.03

Drawdowns

EIPI vs. KNG - Drawdown Comparison

The maximum EIPI drawdown since its inception was -12.33%, smaller than the maximum KNG drawdown of -35.12%. Use the drawdown chart below to compare losses from any high point for EIPI and KNG.

Drawdown Indicators

	EIPI	KNG	Difference
Max Drawdown Largest peak-to-trough decline	-12.33%	-35.12%	+22.79%
Max Drawdown (1Y) Largest decline over 1 year	-4.00%	-8.61%	+4.61%
Max Drawdown (3Y) Largest decline over 3 years	—	-14.24%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.20%	—
Current Drawdown Current decline from peak	-2.62%	-5.89%	+3.27%
Average Drawdown Average peak-to-trough decline	-1.67%	-4.13%	+2.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.32%	3.32%	-2.00%

Volatility

EIPI vs. KNG - Volatility Comparison

FT Energy Income Partners Enhanced Income ETF (EIPI) has a higher volatility of 3.59% compared to FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG) at 2.29%. This indicates that EIPI's price experiences larger fluctuations and is considered to be riskier than KNG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIPI	KNG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.59%	2.29%	+1.30%
Volatility (6M) Calculated over the trailing 6-month period	7.30%	7.39%	-0.09%
Volatility (1Y) Calculated over the trailing 1-year period	9.55%	10.19%	-0.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.08%	13.59%	-0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.08%	17.18%	-4.10%

EIPI vs. KNG - Expense Ratio Comparison

EIPI has a 1.11% expense ratio, which is higher than KNG's 0.75% expense ratio.

Dividends

EIPI vs. KNG - Dividend Comparison

EIPI's dividend yield for the trailing twelve months is around 6.78%, less than KNG's 8.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
EIPI FT Energy Income Partners Enhanced Income ETF	6.78%	9.71%	6.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
KNG FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF	8.67%	8.61%	9.08%	5.91%	4.00%	3.45%	3.62%	4.09%	3.46%

Frequently Asked Questions

Can I hold both EIPI and KNG in my portfolio?

EIPI and KNG have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EIPI or KNG?

EIPI has higher volatility (3.59%) compared to KNG (2.29%). In terms of maximum drawdown, EIPI dropped -12.33% vs KNG's -35.12%.

Which ETF is better, EIPI or KNG?

On 1-year performance, EIPI leads with 21.45% vs 7.44% for KNG. On fees, KNG is cheaper at 0.75% per year. On volatility, KNG has been the lower-risk option at 2.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EIPI or KNG?

Over the 1-year period, EIPI has performed better with a 21.45% return vs 7.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EIPI or KNG?

KNG is cheaper with a 0.75% expense ratio, compared with 1.11% for EIPI.

Which ETF pays a higher dividend yield, EIPI or KNG?

KNG has the higher dividend yield at 8.67%, compared with 6.78% for EIPI.

What is the main difference between EIPI and KNG?

EIPI is categorized as Derivative Income, while KNG is Dividend. Their fees differ too: 1.11% for EIPI and 0.75% for KNG.

Which has better risk-adjusted returns?

EIPI currently has the higher Sharpe Ratio (2.26 vs 0.73), 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.