HAP vs. EIPX

Last updated Jun 4, 2026

HAP (VanEck Natural Resources ETF) and EIPX (FT Energy Income Partners Strategy ETF) are both Energy Equities funds. HAP is passively managed, while EIPX is actively managed. Over the past 3 years, HAP returned 18.93%/yr vs 21.12%/yr for EIPX. A 0.76 correlation means they provide meaningful diversification when combined. HAP charges 0.42%/yr vs 0.95%/yr for EIPX.

Performance

HAP vs. EIPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Natural Resources ETF (HAP) and FT Energy Income Partners Strategy ETF (EIPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with HAP having a 21.49% return and EIPX slightly higher at 21.96%.

HAP

• 1D: -0.36%
• 1M: 0.64%
• YTD: 21.49%
• 6M: 23.70%
• 1Y: 46.66%
• 3Y*: 18.93%
• 5Y*: 11.51%
• 10Y*: 11.99%

EIPX

• 1D: 0.19%
• 1M: -2.12%
• YTD: 21.96%
• 6M: 19.46%
• 1Y: 30.04%
• 3Y*: 21.12%
• 5Y*: —
• 10Y*: —

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

HAP vs. EIPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HAP VanEck Natural Resources ETF	21.49%	34.91%	-4.08%	2.46%	6.11%
EIPX FT Energy Income Partners Strategy ETF	21.96%	11.44%	19.11%	10.74%	0.56%

Correlation

The correlation between HAP and EIPX is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (All Time) Calculated using the full available price history since Nov 4, 2022	0.76

Over the past year, the correlation between HAP and EIPX has dropped to 0.55 - well below their long-term average of 0.76, suggesting their price drivers have been diverging.

HAP vs. EIPX - Sectors Allocation Comparison

Sectors	HAP	EIPX
Basic Materials	36.7%	-
Energy	32.3%	69.5%
Industrials	10.2%	4.2%
Utilities	9.8%	26.1%
Consumer Defensive	6.5%	-
Healthcare	2.8%	-
Technology	0.9%	0.2%
Real Estate	0.4%	-
Consumer Cyclical	0.2%	-
Communication Services	-	-
Financial Services	-	-

Return for Risk

HAP vs. EIPX — Risk / Return Rank

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

HAP

HAP Risk / Return Rank: 89
HAP Sharpe Ratio Rank: 90
HAP Sortino Ratio Rank: 87
HAP Omega Ratio Rank: 88
HAP Calmar Ratio Rank: 90
HAP Martin Ratio Rank: 92

EIPX

EIPX Risk / Return Rank: 86
EIPX Sharpe Ratio Rank: 83
EIPX Sortino Ratio Rank: 85
EIPX Omega Ratio Rank: 77
EIPX Calmar Ratio Rank: 94
EIPX Martin Ratio Rank: 89

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.

HAP vs. EIPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Natural Resources ETF (HAP) and FT Energy Income Partners Strategy ETF (EIPX). 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.

	HAP	EIPX	Difference
Sharpe ratio: Return per unit of total volatility	3.14	2.71	+0.43
Sortino ratio: Return per unit of downside risk	4.01	3.82	+0.19
Omega ratio: Gain probability vs. loss probability	1.56	1.46	+0.10
Calmar ratio: Return relative to maximum drawdown	5.65	7.32	-1.68
Martin ratio: Return relative to average drawdown	23.05	20.31	+2.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HAP vs. EIPX - Sharpe Ratio Comparison

The current HAP Sharpe Ratio is 3.14, which is comparable to the EIPX Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of HAP and EIPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	HAP	EIPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.14	2.71	+0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	1.20	-0.94

Drawdowns

HAP vs. EIPX - Drawdown Comparison

The maximum HAP drawdown since its inception was -50.73%, which is greater than EIPX's maximum drawdown of -15.43%. Use the drawdown chart below to compare losses from any high point for HAP and EIPX.

Drawdown Indicators

	HAP	EIPX	Difference
Max Drawdown Largest peak-to-trough decline	-50.73%	-15.43%	-35.30%
Max Drawdown (1Y) Largest decline over 1 year	-8.31%	-4.12%	-4.19%
Max Drawdown (3Y) Largest decline over 3 years	-16.92%	-15.43%	-1.49%
Max Drawdown (5Y) Largest decline over 5 years	-25.66%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-44.07%	—	—
Current Drawdown Current decline from peak	-1.95%	-2.58%	+0.63%
Average Drawdown Average peak-to-trough decline	-12.03%	-2.27%	-9.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	1.49%	+0.54%

Volatility

HAP vs. EIPX - Volatility Comparison

VanEck Natural Resources ETF (HAP) has a higher volatility of 4.37% compared to FT Energy Income Partners Strategy ETF (EIPX) at 4.01%. This indicates that HAP's price experiences larger fluctuations and is considered to be riskier than EIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HAP	EIPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.37%	4.01%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	12.24%	8.50%	+3.74%
Volatility (1Y) Calculated over the trailing 1-year period	14.91%	11.17%	+3.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.24%	15.06%	+3.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.74%	15.06%	+4.68%

HAP vs. EIPX - Expense Ratio Comparison

HAP has a 0.42% expense ratio, which is lower than EIPX's 0.95% expense ratio.

Dividends

HAP vs. EIPX - Dividend Comparison

HAP's dividend yield for the trailing twelve months is around 1.87%, less than EIPX's 2.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIPX FT Energy Income Partners Strategy ETF	2.68%	3.23%	3.27%	3.48%	0.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
HAP VanEck Natural Resources ETF	1.87%	2.27%	2.65%	3.27%	3.28%	2.16%	2.45%	2.80%	2.85%	2.02%	1.99%	3.00%

Frequently Asked Questions

Can I hold both HAP and EIPX in my portfolio?

HAP and EIPX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HAP or EIPX?

HAP has higher volatility (4.37%) compared to EIPX (4.01%). In terms of maximum drawdown, HAP dropped -50.73% vs EIPX's -15.43%.

Which ETF is better, HAP or EIPX?

On 3-year performance, EIPX leads with 21.12% vs 18.93% for HAP. On fees, HAP is cheaper at 0.42% per year. On volatility, EIPX has been the lower-risk option at 4.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HAP or EIPX?

Over the 3-year period, EIPX has performed better with a 21.12% return vs 18.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HAP or EIPX?

HAP is cheaper with a 0.42% expense ratio, compared with 0.95% for EIPX.

Which ETF pays a higher dividend yield, HAP or EIPX?

EIPX has the higher dividend yield at 2.68%, compared with 1.87% for HAP.

What is the main difference between HAP and EIPX?

They also come from different issuers: VanEck and First Trust. Their fees differ too: 0.42% for HAP and 0.95% for EIPX.

Which has better risk-adjusted returns?

HAP currently has the higher Sharpe Ratio (3.14 vs 2.71), 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.