IYRI vs. MLPI

Last updated Jun 24, 2026

IYRI (NEOS Real Estate High Income ETF) and MLPI (NEOS MLP & Energy Infrastructure High Income ETF) are both exchange-traded funds - IYRI is a Derivative Income fund actively managed by Neos, while MLPI is a MLPs fund actively managed by NEOS. Both are actively managed. At a 0.15 correlation, their price movements are largely independent. Both charge a 0.68% expense ratio.

Performance

IYRI vs. MLPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Real Estate High Income ETF (IYRI) 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, IYRI achieves a 7.08% return, which is significantly lower than MLPI's 19.61% return.

IYRI

• 1D: 1.00%
• 1M: 0.83%
• YTD: 7.08%
• 6M: 7.36%
• 1Y: 9.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MLPI

• 1D: 1.09%
• 1M: -2.18%
• YTD: 19.61%
• 6M: 18.17%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IYRI vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
IYRI NEOS Real Estate High Income ETF	7.08%	-0.20%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	19.61%	0.36%

Correlation

The correlation between IYRI and MLPI is 0.15, 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	0.15

Return for Risk

IYRI vs. MLPI — Risk / Return Rank

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

IYRI

IYRI Risk / Return Rank: 26
IYRI Sharpe Ratio Rank: 25
IYRI Sortino Ratio Rank: 23
IYRI Omega Ratio Rank: 23
IYRI Calmar Ratio Rank: 26
IYRI Martin Ratio Rank: 31

MLPI

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

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.

IYRI vs. MLPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Real Estate High Income ETF (IYRI) 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.

	IYRI	MLPI	Difference
Sharpe ratio: Return per unit of total volatility	0.86	—	—
Sortino ratio: Return per unit of downside risk	1.23	—	—
Omega ratio: Gain probability vs. loss probability	1.16	—	—
Calmar ratio: Return relative to maximum drawdown	1.22	—	—
Martin ratio: Return relative to average drawdown	4.37	—	—

Drawdowns

IYRI vs. MLPI - Drawdown Comparison

The maximum IYRI drawdown since its inception was -12.12%, which is greater than MLPI's maximum drawdown of -5.38%. Use the drawdown chart below to compare losses from any high point for IYRI and MLPI.

Drawdown Indicators

	IYRI	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	-12.12%	-5.38%	-6.74%
Max Drawdown (1Y) Largest decline over 1 year	-7.53%	—	—
Current Drawdown Current decline from peak	-0.52%	-2.18%	+1.66%
Average Drawdown Average peak-to-trough decline	-1.69%	-1.49%	-0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	—	—

Volatility

Volatility by Period

	IYRI	MLPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.21%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.94%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.80%	13.05%	-2.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.20%	13.05%	+0.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.20%	13.05%	+0.15%

IYRI vs. MLPI - Expense Ratio Comparison

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

Dividends

IYRI vs. MLPI - Dividend Comparison

IYRI's dividend yield for the trailing twelve months is around 11.96%, more than MLPI's 7.19% yield.

Position	TTM	2025
IYRI NEOS Real Estate High Income ETF	11.96%	11.72%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	7.19%	0.00%

Frequently Asked Questions

Can I hold both IYRI and MLPI in my portfolio?

IYRI 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, IYRI 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, IYRI or MLPI?

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

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

IYRI has the higher dividend yield at 11.96%, compared with 7.19% for MLPI.

What is the main difference between IYRI and MLPI?

IYRI is categorized as Derivative Income, while MLPI is MLPs. They also come from different issuers: Neos and NEOS.