HYBI vs. MLPI

Last updated Aug 4, 2026

HYBI (NEOS Enhanced Income Credit Select ETF) and MLPI (NEOS MLP & Energy Infrastructure High Income ETF) are both exchange-traded funds - HYBI is a Nontraditional Bonds fund actively managed by Neos, while MLPI is a Infrastructure Equities fund actively managed by Neos. Both are actively managed. Their -0.15 correlation means they have often moved in opposite directions in the past. Both charge a 0.68% expense ratio.

Performance

HYBI vs. MLPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Enhanced Income Credit Select ETF (HYBI) 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, HYBI achieves a 2.12% return, which is significantly lower than MLPI's 17.83% return.

HYBI

• 1D: 0.12%
• 1M: -0.02%
• 6M: 1.29%
• YTD: 2.12%
• 1Y: 5.93%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.62%

MLPI

• 1D: -0.28%
• 1M: -0.32%
• 6M: 11.98%
• YTD: 17.83%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
HYBI NEOS Enhanced Income Credit Select ETF	$1.44M	$1.37M	$1.62M
MLPI NEOS MLP & Energy Infrastructure High Income ETF	$22.33M	$21.99M	$19.61M

HYBI vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
HYBI NEOS Enhanced Income Credit Select ETF	2.12%	0.67%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	17.83%	0.36%

Correlation

The correlation between HYBI and MLPI is -0.15, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	-0.15

Return for Risk

HYBI vs. MLPI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

HYBI

HYBI Risk / Return Rank: 82
HYBI Sharpe Ratio Rank: 75
HYBI Sortino Ratio Rank: 80
HYBI Omega Ratio Rank: 78
HYBI Calmar Ratio Rank: 91
HYBI Martin Ratio Rank: 87

MLPI

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

HYBI vs. MLPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Enhanced Income Credit Select ETF (HYBI) 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.

	HYBI	MLPI	Difference
Sharpe ratio: Return per unit of total volatility	1.76	—	—
Sortino ratio: Return per unit of downside risk	2.68	—	—
Omega ratio: Gain probability vs. loss probability	1.34	—	—
Calmar ratio: Return relative to maximum drawdown	4.17	—	—
Martin ratio: Return relative to average drawdown	13.00	—	—

Drawdowns

HYBI vs. MLPI - Drawdown Comparison

The maximum HYBI drawdown since its inception was -4.68%, smaller than the maximum MLPI drawdown of -5.38%. Use the drawdown chart below to compare losses from any high point for HYBI and MLPI.

Drawdown Indicators

	HYBI	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	-4.68%	-5.38%	+0.70%
Max Drawdown (1Y) Largest decline over 1 year	-1.43%	—	—
Current Drawdown Current decline from peak	-0.22%	-3.63%	+3.41%
Average Drawdown Average peak-to-trough decline	-0.59%	-1.65%	+1.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.46%	—	—

Volatility

Volatility by Period

	HYBI	MLPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.88%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.40%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.38%	13.28%	-9.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.84%	13.28%	-8.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.84%	13.28%	-8.44%

HYBI vs. MLPI - Expense Ratio Comparison

Both HYBI and MLPI have an expense ratio of 0.68%.

Dividends

HYBI vs. MLPI - Dividend Comparison

HYBI's dividend yield for the trailing twelve months is around 8.30%, less than MLPI's 8.65% yield.

Position	TTM	2025	2024
HYBI NEOS Enhanced Income Credit Select ETF	8.30%	8.48%	2.21%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	8.65%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HYBI and MLPI in my portfolio?

HYBI and MLPI have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HYBI or MLPI?

Both ETFs have the same 0.68% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HYBI or MLPI?

HYBI and MLPI have the same expense ratio: 0.68% per year.

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

MLPI has the higher dividend yield at 8.65%, compared with 8.30% for HYBI.

What is the main difference between HYBI and MLPI?

HYBI is categorized as Nontraditional Bonds, while MLPI is Infrastructure Equities.