IWMI vs. MLPI

Last updated Jun 4, 2026

IWMI (NEOS Russell 2000 High Income ETF) and MLPI (Neos MLP & Energy Infrastructure High Income ETF) are both exchange-traded funds - IWMI is a Derivative Income fund actively managed by Neos, while MLPI is a Energy Equities fund actively managed by Neos. Both are actively managed. At a correlation of -0.01, they often move in opposite directions. Both charge a 0.68% expense ratio.

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.

Returns By Period

In the year-to-date period, IWMI achieves a 13.36% return, which is significantly lower than MLPI's 17.58% return.

IWMI

• 1D: -1.02%
• 1M: 3.18%
• YTD: 13.36%
• 6M: 13.24%
• 1Y: 34.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MLPI

• 1D: 0.04%
• 1M: -3.13%
• YTD: 17.58%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IWMI vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
IWMI NEOS Russell 2000 High Income ETF	13.36%	-0.57%
MLPI Neos MLP & Energy Infrastructure High Income ETF	17.58%	0.56%

Correlation

The correlation between IWMI and MLPI is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 19, 2025	-0.01

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: 73
IWMI Sharpe Ratio Rank: 69
IWMI Sortino Ratio Rank: 69
IWMI Omega Ratio Rank: 66
IWMI Calmar Ratio Rank: 79
IWMI Martin Ratio Rank: 83

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	2.33	—	—
Sortino ratio: Return per unit of downside risk	3.25	—	—
Omega ratio: Gain probability vs. loss probability	1.41	—	—
Calmar ratio: Return relative to maximum drawdown	4.11	—	—
Martin ratio: Return relative to average drawdown	17.09	—	—
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	2.33	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	3.49	-2.45

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 -5.38%. 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%	-5.38%	-18.50%
Max Drawdown (1Y) Largest decline over 1 year	-8.40%	—	—
Current Drawdown Current decline from peak	-1.02%	-3.84%	+2.82%
Average Drawdown Average peak-to-trough decline	-4.12%	-1.27%	-2.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.02%	—	—

Volatility

Volatility by Period

	IWMI	MLPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.31%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.74%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.84%	13.05%	+1.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.89%	13.05%	+4.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.89%	13.05%	+4.84%

IWMI vs. MLPI - Expense Ratio Comparison

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

Dividends

IWMI vs. MLPI - Dividend Comparison

IWMI's dividend yield for the trailing twelve months is around 13.52%, more than MLPI's 6.04% yield.

Position	TTM	2025	2024
IWMI NEOS Russell 2000 High Income ETF	13.52%	14.05%	8.78%
MLPI Neos MLP & Energy Infrastructure High Income ETF	6.04%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IWMI and MLPI in my portfolio?

IWMI and MLPI have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IWMI 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, IWMI or MLPI?

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

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

IWMI has the higher dividend yield at 13.52%, compared with 6.04% for MLPI.

What is the main difference between IWMI and MLPI?

IWMI is categorized as Derivative Income, while MLPI is Energy Equities.