FTHY vs. MLPI

Last updated Jun 4, 2026

FTHY (First Trust High Yield Opportunities 2027 Term Fund) and MLPI (Neos MLP & Energy Infrastructure High Income ETF) are both funds - FTHY is a High Yield Bonds fund managed by First Trust, while MLPI is a Energy Equities fund actively managed by Neos. At a correlation of -0.05, they often move in opposite directions. FTHY charges 0.02%/yr vs 0.68%/yr for MLPI.

Performance

FTHY vs. MLPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust High Yield Opportunities 2027 Term Fund (FTHY) and Neos MLP & Energy Infrastructure High Income ETF (MLPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTHY achieves a -0.35% return, which is significantly lower than MLPI's 17.58% return.

FTHY

• 1D: -1.85%
• 1M: -0.73%
• YTD: -0.35%
• 6M: -0.35%
• 1Y: 2.84%
• 3Y*: 10.55%
• 5Y*: 2.36%
• 10Y*: —

MLPI

• 1D: 0.04%
• 1M: -3.13%
• YTD: 17.58%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FTHY vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
FTHY First Trust High Yield Opportunities 2027 Term Fund	-0.35%	0.72%
MLPI Neos MLP & Energy Infrastructure High Income ETF	17.58%	0.56%

Correlation

The correlation between FTHY and MLPI is -0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 19, 2025	-0.05

Return for Risk

FTHY vs. MLPI — Risk / Return Rank

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

FTHY

FTHY Risk / Return Rank: 5
FTHY Sharpe Ratio Rank: 5
FTHY Sortino Ratio Rank: 5
FTHY Omega Ratio Rank: 5
FTHY Calmar Ratio Rank: 6
FTHY Martin Ratio Rank: 6

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.

FTHY vs. MLPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust High Yield Opportunities 2027 Term Fund (FTHY) 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.

	FTHY	MLPI	Difference
Sharpe ratio: Return per unit of total volatility	0.39	—	—
Sortino ratio: Return per unit of downside risk	0.59	—	—
Omega ratio: Gain probability vs. loss probability	1.07	—	—
Calmar ratio: Return relative to maximum drawdown	0.52	—	—
Martin ratio: Return relative to average drawdown	1.44	—	—
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

	FTHY	MLPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.39	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	3.49	-3.27

Drawdowns

FTHY vs. MLPI - Drawdown Comparison

The maximum FTHY drawdown since its inception was -31.17%, which is greater than MLPI's maximum drawdown of -5.38%. Use the drawdown chart below to compare losses from any high point for FTHY and MLPI.

Drawdown Indicators

	FTHY	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	-31.17%	-5.38%	-25.79%
Max Drawdown (1Y) Largest decline over 1 year	-5.44%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-8.70%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-31.17%	—	—
Current Drawdown Current decline from peak	-3.10%	-3.84%	+0.74%
Average Drawdown Average peak-to-trough decline	-10.20%	-1.27%	-8.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	—	—

Volatility

Volatility by Period

	FTHY	MLPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.75%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.67%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.37%	13.05%	-5.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.84%	13.05%	-0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.28%	13.05%	+0.23%

FTHY vs. MLPI - Expense Ratio Comparison

FTHY has a 0.02% expense ratio, which is lower than MLPI's 0.68% expense ratio.

Dividends

FTHY vs. MLPI - Dividend Comparison

FTHY's dividend yield for the trailing twelve months is around 11.30%, more than MLPI's 6.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FTHY First Trust High Yield Opportunities 2027 Term Fund	11.30%	10.66%	10.70%	10.22%	11.85%	7.83%	2.94%
MLPI Neos MLP & Energy Infrastructure High Income ETF	6.04%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTHY and MLPI in my portfolio?

FTHY and MLPI have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.