FENY vs. MLPI

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity MSCI Energy Index ETF (FENY) and Neos MLP & Energy Infrastructure High Income ETF (MLPI).

FENY and MLPI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FENY is a passively managed fund by Fidelity that tracks the performance of the MSCI USA IMI Energy Index. It was launched on Oct 21, 2013. MLPI is an actively managed fund by Neos. It was launched on Dec 17, 2025.

Performance

FENY vs. MLPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity MSCI Energy Index ETF (FENY) and Neos MLP & Energy Infrastructure High Income ETF (MLPI). The values are adjusted to include any dividend payments, if applicable.

FENY vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
FENY Fidelity MSCI Energy Index ETF	38.13%	2.29%
MLPI Neos MLP & Energy Infrastructure High Income ETF	17.27%	0.56%

Returns By Period

In the year-to-date period, FENY achieves a 38.13% return, which is significantly higher than MLPI's 17.27% return.

FENY

• 1D: -1.13%
• 1M: 10.37%
• YTD: 38.13%
• 6M: 39.46%
• 1Y: 37.23%
• 3Y*: 18.44%
• 5Y*: 24.19%
• 10Y*: 11.01%

MLPI

• 1D: -0.40%
• 1M: 3.16%
• YTD: 17.27%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FENY vs. MLPI - Expense Ratio Comparison

FENY has a 0.08% expense ratio, which is lower than MLPI's 0.68% expense ratio.

MLPI

Neos MLP & Energy Infrastructure High Income ETF

FENY

Fidelity MSCI Energy Index ETF

Return for Risk

FENY vs. MLPI — Risk / Return Rank

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

FENY

FENY Risk / Return Rank: 76
FENY Sharpe Ratio Rank: 81
FENY Sortino Ratio Rank: 78
FENY Omega Ratio Rank: 79
FENY Calmar Ratio Rank: 79
FENY Martin Ratio Rank: 63

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.

FENY vs. MLPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Energy Index ETF (FENY) 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.

	FENY	MLPI	Difference
Sharpe ratio Return per unit of total volatility	1.50	—	—
Sortino ratio Return per unit of downside risk	1.91	—	—
Omega ratio Gain probability vs. loss probability	1.29	—	—
Calmar ratio Return relative to maximum drawdown	2.03	—	—
Martin ratio Return relative to average drawdown	5.81	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FENY	MLPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.21	7.48	-7.27

Correlation

The correlation between FENY and MLPI is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FENY vs. MLPI - Dividend Comparison

FENY's dividend yield for the trailing twelve months is around 2.31%, less than MLPI's 3.49% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FENY Fidelity MSCI Energy Index ETF	2.31%	3.18%	3.05%	3.33%	3.33%	3.69%	4.60%	6.43%	3.21%	2.94%	2.29%	3.05%
MLPI Neos MLP & Energy Infrastructure High Income ETF	3.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FENY vs. MLPI - Drawdown Comparison

The maximum FENY drawdown since its inception was -74.35%, which is greater than MLPI's maximum drawdown of -2.78%. Use the drawdown chart below to compare losses from any high point for FENY and MLPI.

Drawdown Indicators

	FENY	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	-74.35%	-2.78%	-71.57%
Max Drawdown (1Y) Largest decline over 1 year	-19.11%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.64%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-69.07%	—	—
Current Drawdown Current decline from peak	-2.21%	-1.19%	-1.02%
Average Drawdown Average peak-to-trough decline	-23.35%	-0.60%	-22.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.66%	—	—

Volatility

Volatility by Period

	FENY	MLPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.97%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.84%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	25.03%	11.12%	+13.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.56%	11.12%	+15.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.70%	11.12%	+18.58%