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EMLP vs. EINC
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EMLP vs. EINC

Last updated Jun 23, 2026

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

Performance

EMLP vs. EINC - Performance Comparison

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

Loading charts...

Returns By Period

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

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%

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

EMLP vs. EINC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
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%

Correlation

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

EMLP vs. EINC - Sectors Allocation Comparison

Sectors
EMLP
EINC

Utilities

54.0%
0.6%

Energy

27.0%
99.4%

Industrials

7.9%
2.5%

Basic Materials

1.6%

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Financial Services

-

-

Healthcare

-

-

Real Estate

-

-

Technology

-

-

Utilities

EMLP
54.0%
EINC
0.6%

Energy

EMLP
27.0%
EINC
99.4%

Industrials

EMLP
7.9%
EINC
2.5%

Basic Materials

EMLP
1.6%
EINC

-

Communication Services

EMLP

-

EINC

-

Consumer Cyclical

EMLP

-

EINC

-

Consumer Defensive

EMLP

-

EINC

-

Financial Services

EMLP

-

EINC

-

Healthcare

EMLP

-

EINC

-

Real Estate

EMLP

-

EINC

-

Technology

EMLP

-

EINC

-

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First Trust North American Energy Infrastructure Fund

VanEck Energy Income ETF

Often compared with EMLP:
EMLP vs. ENFREMLP vs. UMIEMLP vs. MLPAEMLP vs. BNEMLP vs. SPYEMLP vs. MPLXEMLP vs. SWPPX
Often compared with EINC:
EINC vs. XLEEINC vs. BIZDEINC vs. SMHEINC vs. IXCEINC vs. VPUEINC vs. ERYEINC vs. PDI

Return for Risk

EMLP vs. EINC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EMLP
EMLP Risk / Return Rank: 6565
Overall Rank
EMLP Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
EMLP Sortino Ratio Rank: 6464
Sortino Ratio Rank
EMLP Omega Ratio Rank: 5555
Omega Ratio Rank
EMLP Calmar Ratio Rank: 7979
Calmar Ratio Rank
EMLP Martin Ratio Rank: 6565
Martin Ratio Rank
EINC
EINC Risk / Return Rank: 5757
Overall Rank
EINC Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
EINC Sortino Ratio Rank: 5252
Sortino Ratio Rank
EINC Omega Ratio Rank: 5252
Omega Ratio Rank
EINC Calmar Ratio Rank: 7171
Calmar Ratio Rank
EINC Martin Ratio Rank: 5353
Martin Ratio Rank
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.

EMLP vs. EINC - Risk-Adjusted Trends Comparison

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

EMLPEINCDifference
Sharpe ratioReturn per unit of total volatility
1.98
1.82

+0.16

Sortino ratioReturn per unit of downside risk
2.86
2.47

+0.39

Omega ratioGain probability vs. loss probability

1.34

1.32

+0.02

Calmar ratioReturn relative to maximum drawdown

3.96

3.47

+0.49

Martin ratioReturn relative to average drawdown

11.58

8.82

+2.75

EMLP vs. EINC - Sharpe Ratio Comparison

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

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Drawdowns

EMLP vs. EINC - Drawdown Comparison

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

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Drawdown Indicators

EMLPEINCDifference

Max Drawdown

Largest peak-to-trough decline

-43.61%

-87.55%

+43.94%

Max Drawdown (1Y)

Largest decline over 1 year

-4.94%

-7.89%

+2.95%

Max Drawdown (3Y)

Largest decline over 3 years

-11.47%

-16.01%

+4.54%

Max Drawdown (5Y)

Largest decline over 5 years

-14.59%

-19.87%

+5.28%

Max Drawdown (10Y)

Largest decline over 10 years

-43.61%

-68.85%

+25.24%

Current Drawdown

Current decline from peak

-3.51%

-5.79%

+2.28%

Average Drawdown

Average peak-to-trough decline

-5.75%

-44.16%

+38.41%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.69%

3.09%

-1.40%

Volatility

EMLP vs. EINC - Volatility Comparison

The current volatility for First Trust North American Energy Infrastructure Fund (EMLP) is 3.42%, while VanEck Energy Income ETF (EINC) has a volatility of 6.32%. This indicates that EMLP experiences smaller price fluctuations and is considered to be less risky than EINC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EMLPEINCDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.42%

6.32%

-2.90%

Volatility (6M)

Calculated over the trailing 6-month period

7.89%

11.86%

-3.97%

Volatility (1Y)

Calculated over the trailing 1-year period

9.92%

15.07%

-5.15%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.48%

19.54%

-5.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.69%

25.43%

-7.74%

EMLP vs. EINC - Expense Ratio Comparison

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

Dividends

EMLP vs. EINC - Dividend Comparison

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

PositionTTM20252024202320222021202020192018201720162015
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

EMLP and EINC 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.

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

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.

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.

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

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

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

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.

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