IEZ vs. MLPI
IEZ (iShares U.S. Oil Equipment & Services ETF) and MLPI (NEOS MLP & Energy Infrastructure High Income ETF) are both exchange-traded funds - IEZ is a Energy Equities fund tracking the Dow Jones U.S. Select Oil Equipment & Services Index, while MLPI is a MLPs fund actively managed by NEOS. IEZ is passively managed, while MLPI is actively managed. At a 0.46 correlation, their price movements are largely independent. IEZ charges 0.42%/yr vs 0.68%/yr for MLPI.
Performance
IEZ vs. MLPI - Performance Comparison
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Returns By Period
In the year-to-date period, IEZ achieves a 33.32% return, which is significantly higher than MLPI's 19.61% return.
IEZ
- 1D
- -0.72%
- 1M
- -12.99%
- YTD
- 33.32%
- 6M
- 33.77%
- 1Y
- 64.80%
- 3Y*
- 15.70%
- 5Y*
- 12.80%
- 10Y*
- -1.46%
MLPI
- 1D
- 1.09%
- 1M
- -2.18%
- YTD
- 19.61%
- 6M
- 18.17%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IEZ vs. MLPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IEZ iShares U.S. Oil Equipment & Services ETF | 33.32% | 1.16% |
MLPI NEOS MLP & Energy Infrastructure High Income ETF | 19.61% | 0.36% |
Correlation
The correlation between IEZ and MLPI is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025 | 0.46 |
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Return for Risk
IEZ vs. MLPI — Risk / Return Rank
IEZ
MLPI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IEZ vs. MLPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Oil Equipment & Services ETF (IEZ) 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.
| IEZ | MLPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.36 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.35 | — | — |
| Martin ratioReturn relative to average drawdown | 15.22 | — | — |
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Drawdowns
IEZ vs. MLPI - Drawdown Comparison
The maximum IEZ drawdown since its inception was -92.52%, which is greater than MLPI's maximum drawdown of -5.38%. Use the drawdown chart below to compare losses from any high point for IEZ and MLPI.
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Drawdown Indicators
| IEZ | MLPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -92.52% | -5.38% | -87.14% |
Max Drawdown (1Y)Largest decline over 1 year | -14.97% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -40.25% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -40.25% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -88.29% | — | — |
Current DrawdownCurrent decline from peak | -56.00% | -2.18% | -53.82% |
Average DrawdownAverage peak-to-trough decline | -48.26% | -1.49% | -46.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.27% | — | — |
Volatility
IEZ vs. MLPI - Volatility Comparison
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Volatility by Period
| IEZ | MLPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.89% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 20.84% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 29.51% | 13.05% | +16.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.32% | 13.05% | +23.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 41.52% | 13.05% | +28.47% |
IEZ vs. MLPI - Expense Ratio Comparison
IEZ has a 0.42% expense ratio, which is lower than MLPI's 0.68% expense ratio.
Dividends
IEZ vs. MLPI - Dividend Comparison
IEZ's dividend yield for the trailing twelve months is around 1.24%, less than MLPI's 7.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEZ iShares U.S. Oil Equipment & Services ETF | 1.24% | 1.87% | 1.76% | 0.97% | 0.65% | 1.20% | 2.07% | 2.28% | 1.81% | 3.42% | 0.91% | 2.40% |
MLPI NEOS MLP & Energy Infrastructure High Income ETF | 7.19% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IEZ and MLPI have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IEZ is cheaper at 0.42% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IEZ is cheaper with a 0.42% expense ratio, compared with 0.68% for MLPI.
MLPI has the higher dividend yield at 7.19%, compared with 1.24% for IEZ.
IEZ is categorized as Energy Equities, while MLPI is MLPs. They also come from different issuers: iShares and NEOS. Their fees differ too: 0.42% for IEZ and 0.68% for MLPI.
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