EMLP vs. MLPI
EMLP (First Trust North American Energy Infrastructure Fund) and MLPI (NEOS MLP & Energy Infrastructure High Income ETF) are both MLPs funds. Both are actively managed. A 0.77 correlation means they provide meaningful diversification when combined. EMLP charges 0.96%/yr vs 0.68%/yr for MLPI.
Performance
EMLP vs. MLPI - Performance Comparison
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Returns By Period
In the year-to-date period, EMLP achieves a 18.66% return, which is significantly lower than MLPI's 20.53% return.
EMLP
- 1D
- 1.19%
- 1M
- 2.50%
- 6M
- 17.85%
- YTD
- 18.66%
- 1Y
- 22.95%
- 3Y*
- 21.37%
- 5Y*
- 16.77%
- 10Y*
- 10.00%
MLPI
- 1D
- 1.17%
- 1M
- 1.14%
- 6M
- 21.89%
- YTD
- 20.53%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
EMLP vs. MLPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
EMLP First Trust North American Energy Infrastructure Fund | 18.66% | 0.37% |
MLPI NEOS MLP & Energy Infrastructure High Income ETF | 20.53% | 0.36% |
Correlation
The correlation between EMLP and MLPI is 0.77, 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 | 0.77 |
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Return for Risk
EMLP vs. MLPI — Risk / Return Rank
EMLP
MLPI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
EMLP vs. MLPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust North American Energy Infrastructure Fund (EMLP) 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.
| EMLP | MLPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.38 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.67 | — | — |
| Martin ratioReturn relative to average drawdown | 13.36 | — | — |
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Drawdowns
EMLP vs. MLPI - Drawdown Comparison
The maximum EMLP drawdown since its inception was -43.61%, which is greater than MLPI's maximum drawdown of -5.38%. Use the drawdown chart below to compare losses from any high point for EMLP and MLPI.
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Drawdown Indicators
| EMLP | MLPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.61% | -5.38% | -38.23% |
Max Drawdown (1Y)Largest decline over 1 year | -4.94% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -11.47% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -14.59% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -43.61% | — | — |
Current DrawdownCurrent decline from peak | -0.23% | -1.42% | +1.19% |
Average DrawdownAverage peak-to-trough decline | -5.73% | -1.59% | -4.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.72% | — | — |
Volatility
EMLP vs. MLPI - Volatility Comparison
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Volatility by Period
| EMLP | MLPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.76% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 8.29% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 10.26% | 13.34% | -3.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.52% | 13.34% | +1.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.68% | 13.34% | +4.34% |
EMLP vs. MLPI - Expense Ratio Comparison
EMLP has a 0.96% expense ratio, which is higher than MLPI's 0.68% expense ratio.
Dividends
EMLP vs. MLPI - Dividend Comparison
EMLP's dividend yield for the trailing twelve months is around 2.74%, less than MLPI's 7.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLP First Trust North American Energy Infrastructure Fund | 2.74% | 3.18% | 3.19% | 3.92% | 3.15% | 3.29% | 4.70% | 3.71% | 4.71% | 3.80% | 3.62% | 4.63% |
MLPI NEOS MLP & Energy Infrastructure High Income ETF | 7.14% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
EMLP and MLPI have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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.
MLPI is cheaper with a 0.68% expense ratio, compared with 0.96% for EMLP.
MLPI has the higher dividend yield at 7.14%, compared with 2.74% for EMLP.
They also come from different issuers: First Trust and NEOS. Their fees differ too: 0.96% for EMLP and 0.68% for MLPI.
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