KYN vs. EIPI

Last updated Jun 4, 2026

KYN (Kayne Anderson Energy Infrastructure Fund) and EIPI (FT Energy Income Partners Enhanced Income ETF) are both funds - KYN is a Energy Equities fund actively managed by Kayne Anderson, while EIPI is a Derivative Income fund actively managed by First Trust. Both are actively managed. Over the past year, KYN returned 21.57% vs 21.45% for EIPI. A 0.63 correlation means they provide meaningful diversification when combined. KYN charges 2.00%/yr vs 1.11%/yr for EIPI.

Performance

KYN vs. EIPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kayne Anderson Energy Infrastructure Fund (KYN) and FT Energy Income Partners Enhanced Income ETF (EIPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KYN achieves a 16.76% return, which is significantly higher than EIPI's 14.55% return.

KYN

• 1D: 0.29%
• 1M: -0.75%
• YTD: 16.76%
• 6M: 18.20%
• 1Y: 21.57%
• 3Y*: 30.67%
• 5Y*: 20.94%
• 10Y*: 6.43%

EIPI

• 1D: 0.05%
• 1M: -2.14%
• YTD: 14.55%
• 6M: 13.67%
• 1Y: 21.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KYN vs. EIPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
KYN Kayne Anderson Energy Infrastructure Fund	16.76%	5.34%	40.22%
EIPI FT Energy Income Partners Enhanced Income ETF	14.55%	12.38%	12.83%

Correlation

The correlation between KYN and EIPI is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (All Time) Calculated using the full available price history since May 7, 2024	0.63

The correlation between KYN and EIPI has been stable across timeframes, ranging from 0.58 to 0.63 - a consistent structural relationship.

Return for Risk

KYN vs. EIPI — Risk / Return Rank

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

KYN

KYN Risk / Return Rank: 26
KYN Sharpe Ratio Rank: 21
KYN Sortino Ratio Rank: 19
KYN Omega Ratio Rank: 19
KYN Calmar Ratio Rank: 43
KYN Martin Ratio Rank: 30

EIPI

EIPI Risk / Return Rank: 75
EIPI Sharpe Ratio Rank: 68
EIPI Sortino Ratio Rank: 72
EIPI Omega Ratio Rank: 63
EIPI Calmar Ratio Rank: 89
EIPI Martin Ratio Rank: 81

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.

KYN vs. EIPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kayne Anderson Energy Infrastructure Fund (KYN) and FT Energy Income Partners Enhanced Income ETF (EIPI). 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.

	KYN	EIPI	Difference
Sharpe ratio Return per unit of total volatility	1.31	2.26	-0.95
Sortino ratio Return per unit of downside risk	1.82	3.30	-1.48
Omega ratio Gain probability vs. loss probability	1.23	1.38	-0.16
Calmar ratio Return relative to maximum drawdown	2.51	5.39	-2.88
Martin ratio Return relative to average drawdown	7.00	16.30	-9.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KYN vs. EIPI - Sharpe Ratio Comparison

The current KYN Sharpe Ratio is 1.31, which is lower than the EIPI Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of KYN and EIPI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KYN	EIPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.31	2.26	-0.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	1.52	-1.35

Drawdowns

KYN vs. EIPI - Drawdown Comparison

The maximum KYN drawdown since its inception was -91.43%, which is greater than EIPI's maximum drawdown of -12.33%. Use the drawdown chart below to compare losses from any high point for KYN and EIPI.

Drawdown Indicators

	KYN	EIPI	Difference
Max Drawdown Largest peak-to-trough decline	-91.43%	-12.33%	-79.10%
Max Drawdown (1Y) Largest decline over 1 year	-8.64%	-4.00%	-4.64%
Max Drawdown (3Y) Largest decline over 3 years	-21.65%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.65%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-87.74%	—	—
Current Drawdown Current decline from peak	-3.71%	-2.62%	-1.09%
Average Drawdown Average peak-to-trough decline	-26.95%	-1.67%	-25.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	1.32%	+1.78%

Volatility

KYN vs. EIPI - Volatility Comparison

Kayne Anderson Energy Infrastructure Fund (KYN) has a higher volatility of 5.42% compared to FT Energy Income Partners Enhanced Income ETF (EIPI) at 3.59%. This indicates that KYN's price experiences larger fluctuations and is considered to be riskier than EIPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KYN	EIPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.42%	3.59%	+1.83%
Volatility (6M) Calculated over the trailing 6-month period	12.59%	7.30%	+5.29%
Volatility (1Y) Calculated over the trailing 1-year period	16.60%	9.55%	+7.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.29%	13.08%	+10.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.93%	13.08%	+27.85%

KYN vs. EIPI - Expense Ratio Comparison

KYN has a 2.00% expense ratio, which is higher than EIPI's 1.11% expense ratio.

Dividends

KYN vs. EIPI - Dividend Comparison

KYN's dividend yield for the trailing twelve months is around 7.03%, more than EIPI's 6.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIPI FT Energy Income Partners Enhanced Income ETF	6.78%	9.71%	6.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
KYN Kayne Anderson Energy Infrastructure Fund	7.03%	7.75%	8.34%	9.45%	9.05%	6.42%	16.17%	10.34%	14.17%	9.97%	11.24%	15.20%

Frequently Asked Questions

Can I hold both KYN and EIPI in my portfolio?

KYN and EIPI have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KYN or EIPI?

KYN has higher volatility (5.42%) compared to EIPI (3.59%). In terms of maximum drawdown, KYN dropped -91.43% vs EIPI's -12.33%.

Which has better risk-adjusted returns?

EIPI currently has the higher Sharpe Ratio (2.26 vs 1.31), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.