MLPD vs. MLPI

Last updated Jun 24, 2026

MLPD (Global X MLP & Energy Infrastructure Covered Call ETF) and MLPI (NEOS MLP & Energy Infrastructure High Income ETF) are both exchange-traded funds - MLPD is a Derivative Income fund tracking the Cboe MLPX ATM BuyWrite Index, while MLPI is a MLPs fund actively managed by NEOS. MLPD is passively managed, while MLPI is actively managed. A 0.67 correlation means they provide meaningful diversification when combined. MLPD charges 0.60%/yr vs 0.68%/yr for MLPI.

Performance

MLPD vs. MLPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MLP & Energy Infrastructure Covered Call ETF (MLPD) 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, MLPD achieves a 5.90% return, which is significantly lower than MLPI's 19.61% return.

MLPD

• 1D: 0.42%
• 1M: -0.92%
• YTD: 5.90%
• 6M: 6.34%
• 1Y: 15.13%
• 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)

MLPD vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
MLPD Global X MLP & Energy Infrastructure Covered Call ETF	5.90%	1.20%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	19.61%	0.36%

Correlation

The correlation between MLPD and MLPI is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	0.67

Return for Risk

MLPD vs. MLPI — Risk / Return Rank

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

MLPD

MLPD Risk / Return Rank: 65
MLPD Sharpe Ratio Rank: 66
MLPD Sortino Ratio Rank: 62
MLPD Omega Ratio Rank: 68
MLPD Calmar Ratio Rank: 68
MLPD Martin Ratio Rank: 60

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.

MLPD vs. MLPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MLP & Energy Infrastructure Covered Call ETF (MLPD) 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.

	MLPD	MLPI	Difference
Sharpe ratio: Return per unit of total volatility	1.99	—	—
Sortino ratio: Return per unit of downside risk	2.67	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	3.16	—	—
Martin ratio: Return relative to average drawdown	10.05	—	—

Drawdowns

MLPD vs. MLPI - Drawdown Comparison

The maximum MLPD drawdown since its inception was -12.90%, which is greater than MLPI's maximum drawdown of -5.38%. Use the drawdown chart below to compare losses from any high point for MLPD and MLPI.

Drawdown Indicators

	MLPD	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	-12.90%	-5.38%	-7.52%
Max Drawdown (1Y) Largest decline over 1 year	-4.80%	—	—
Current Drawdown Current decline from peak	-1.11%	-2.18%	+1.07%
Average Drawdown Average peak-to-trough decline	-1.12%	-1.49%	+0.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.51%	—	—

Volatility

Volatility by Period

	MLPD	MLPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.38%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.53%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.65%	13.05%	-5.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.35%	13.05%	-1.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.35%	13.05%	-1.70%

MLPD vs. MLPI - Expense Ratio Comparison

MLPD has a 0.60% expense ratio, which is lower than MLPI's 0.68% expense ratio.

Dividends

MLPD vs. MLPI - Dividend Comparison

MLPD's dividend yield for the trailing twelve months is around 13.48%, more than MLPI's 7.19% yield.

Position	TTM	2025	2024
MLPD Global X MLP & Energy Infrastructure Covered Call ETF	13.48%	13.45%	6.68%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	7.19%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MLPD and MLPI in my portfolio?

MLPD and MLPI have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MLPD or MLPI?

On fees, MLPD is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MLPD or MLPI?

MLPD is cheaper with a 0.60% expense ratio, compared with 0.68% for MLPI.

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

MLPD has the higher dividend yield at 13.48%, compared with 7.19% for MLPI.

What is the main difference between MLPD and MLPI?

MLPD is categorized as Derivative Income, while MLPI is MLPs. They also come from different issuers: Global X and NEOS. Their fees differ too: 0.60% for MLPD and 0.68% for MLPI.