GXPE vs. MLPI

Last updated Jun 23, 2026

GXPE (Global X PureCap MSCI Energy ETF) and MLPI (NEOS MLP & Energy Infrastructure High Income ETF) are both exchange-traded funds - GXPE is a Energy Equities fund tracking the MSCI USA Energy PureCap Index, while MLPI is a MLPs fund actively managed by NEOS. GXPE is passively managed, while MLPI is actively managed. A 0.66 correlation means they provide meaningful diversification when combined. GXPE charges 0.15%/yr vs 0.68%/yr for MLPI.

Performance

GXPE vs. MLPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X PureCap MSCI Energy ETF (GXPE) 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, GXPE achieves a 21.27% return, which is significantly higher than MLPI's 18.32% return.

GXPE

• 1D: 1.15%
• 1M: -8.52%
• YTD: 21.27%
• 6M: 22.79%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MLPI

• 1D: 1.53%
• 1M: -3.23%
• YTD: 18.32%
• 6M: 17.87%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GXPE vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
GXPE Global X PureCap MSCI Energy ETF	21.27%	1.01%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	18.32%	0.36%

Correlation

The correlation between GXPE and MLPI is 0.66, 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	0.66

Return for Risk

GXPE vs. MLPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X PureCap MSCI Energy ETF (GXPE) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

GXPE vs. MLPI - Drawdown Comparison

The maximum GXPE drawdown since its inception was -14.89%, which is greater than MLPI's maximum drawdown of -5.38%. Use the drawdown chart below to compare losses from any high point for GXPE and MLPI.

Drawdown Indicators

	GXPE	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	-14.89%	-5.38%	-9.51%
Current Drawdown Current decline from peak	-13.91%	-3.23%	-10.68%
Average Drawdown Average peak-to-trough decline	-3.58%	-1.49%	-2.09%

Volatility

Volatility by Period

	GXPE	MLPI	Difference
Volatility (1Y) Calculated over the trailing 1-year period	20.71%	13.04%	+7.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.71%	13.04%	+7.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.71%	13.04%	+7.67%

GXPE vs. MLPI - Expense Ratio Comparison

GXPE has a 0.15% expense ratio, which is lower than MLPI's 0.68% expense ratio.

Dividends

GXPE vs. MLPI - Dividend Comparison

GXPE's dividend yield for the trailing twelve months is around 0.99%, less than MLPI's 7.27% yield.

Position	TTM	2025
GXPE Global X PureCap MSCI Energy ETF	0.99%	1.20%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	7.27%	0.00%

Frequently Asked Questions

Can I hold both GXPE and MLPI in my portfolio?

GXPE and MLPI have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GXPE or MLPI?

On fees, GXPE is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GXPE or MLPI?

GXPE is cheaper with a 0.15% expense ratio, compared with 0.68% for MLPI.

Which ETF pays a higher dividend yield, GXPE or MLPI?

MLPI has the higher dividend yield at 7.27%, compared with 0.99% for GXPE.

What is the main difference between GXPE and MLPI?

GXPE is categorized as Energy Equities, while MLPI is MLPs. They also come from different issuers: Global X and NEOS. Their fees differ too: 0.15% for GXPE and 0.68% for MLPI.