IWMI vs. MLPI

Last updated Apr 1, 2026

Compare and contrast key facts about NEOS Russell 2000 High Income ETF (IWMI) and Neos MLP & Energy Infrastructure High Income ETF (MLPI).

IWMI and MLPI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IWMI is an actively managed fund by Neos. It was launched on Jun 24, 2024. MLPI is an actively managed fund by Neos. It was launched on Dec 17, 2025.

Performance

IWMI vs. MLPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Russell 2000 High Income ETF (IWMI) and Neos MLP & Energy Infrastructure High Income ETF (MLPI). The values are adjusted to include any dividend payments, if applicable.

IWMI vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
IWMI NEOS Russell 2000 High Income ETF	0.93%	-0.57%
MLPI Neos MLP & Energy Infrastructure High Income ETF	17.27%	0.56%

Returns By Period

In the year-to-date period, IWMI achieves a 0.93% return, which is significantly lower than MLPI's 17.27% return.

IWMI

• 1D: 3.49%
• 1M: -4.05%
• YTD: 0.93%
• 6M: 4.83%
• 1Y: 25.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MLPI

• 1D: -0.40%
• 1M: 3.16%
• YTD: 17.27%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IWMI vs. MLPI - Expense Ratio Comparison

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

IWMI

NEOS Russell 2000 High Income ETF

MLPI

Neos MLP & Energy Infrastructure High Income ETF

Return for Risk

IWMI vs. MLPI — Risk / Return Rank

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

IWMI

IWMI Risk / Return Rank: 78
IWMI Sharpe Ratio Rank: 77
IWMI Sortino Ratio Rank: 79
IWMI Omega Ratio Rank: 74
IWMI Calmar Ratio Rank: 78
IWMI Martin Ratio Rank: 84

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.

IWMI vs. MLPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Russell 2000 High Income ETF (IWMI) 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.

	IWMI	MLPI	Difference
Sharpe ratio Return per unit of total volatility	1.34	—	—
Sortino ratio Return per unit of downside risk	1.94	—	—
Omega ratio Gain probability vs. loss probability	1.27	—	—
Calmar ratio Return relative to maximum drawdown	1.97	—	—
Martin ratio Return relative to average drawdown	9.11	—	—
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

	IWMI	MLPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	7.48	-6.78

Correlation

The correlation between IWMI and MLPI is 0.17, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

IWMI vs. MLPI - Dividend Comparison

IWMI's dividend yield for the trailing twelve months is around 14.48%, more than MLPI's 3.49% yield.

	TTM	2025	2024
IWMI NEOS Russell 2000 High Income ETF	14.48%	14.05%	8.78%
MLPI Neos MLP & Energy Infrastructure High Income ETF	3.49%	0.00%	0.00%

Drawdowns

IWMI vs. MLPI - Drawdown Comparison

The maximum IWMI drawdown since its inception was -23.88%, which is greater than MLPI's maximum drawdown of -2.78%. Use the drawdown chart below to compare losses from any high point for IWMI and MLPI.

Drawdown Indicators

	IWMI	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	-23.88%	-2.78%	-21.10%
Max Drawdown (1Y) Largest decline over 1 year	-12.42%	—	—
Current Drawdown Current decline from peak	-5.20%	-1.19%	-4.01%
Average Drawdown Average peak-to-trough decline	-4.44%	-0.60%	-3.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.69%	—	—

Volatility

Volatility by Period

	IWMI	MLPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.03%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.89%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.11%	11.12%	+7.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.30%	11.12%	+7.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.30%	11.12%	+7.18%