MLPI vs. CHPY

Last updated Jun 4, 2026

MLPI (Neos MLP & Energy Infrastructure High Income ETF) and CHPY (YieldMax Semiconductor Portfolio Option Income ETF) are both exchange-traded funds - MLPI is a Energy Equities fund actively managed by Neos, while CHPY is a Derivative Income fund actively managed by YieldMax. Both are actively managed. At a correlation of -0.06, they often move in opposite directions. MLPI charges 0.68%/yr vs 0.99%/yr for CHPY.

Performance

MLPI vs. CHPY - Performance Comparison

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

Returns By Period

In the year-to-date period, MLPI achieves a 17.58% return, which is significantly lower than CHPY's 85.77% return.

MLPI

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

CHPY

• 1D: 1.14%
• 1M: 29.53%
• YTD: 85.77%
• 6M: 85.49%
• 1Y: 149.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MLPI vs. CHPY - Yearly Performance Comparison

	2026 (YTD)	2025
MLPI Neos MLP & Energy Infrastructure High Income ETF	17.58%	0.56%
CHPY YieldMax Semiconductor Portfolio Option Income ETF	85.77%	3.47%

Correlation

The correlation between MLPI and CHPY is -0.06, 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	-0.06

Return for Risk

MLPI vs. CHPY — Risk / Return Rank

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

CHPY

CHPY Risk / Return Rank: 97
CHPY Sharpe Ratio Rank: 98
CHPY Sortino Ratio Rank: 96
CHPY Omega Ratio Rank: 96
CHPY Calmar Ratio Rank: 97
CHPY Martin Ratio Rank: 97

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.

MLPI vs. CHPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neos MLP & Energy Infrastructure High Income ETF (MLPI) and YieldMax Semiconductor Portfolio Option Income ETF (CHPY). 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.

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

Sharpe Ratios by Period

	MLPI	CHPY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	5.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.49	4.83	-1.35

Drawdowns

MLPI vs. CHPY - Drawdown Comparison

The maximum MLPI drawdown since its inception was -5.38%, smaller than the maximum CHPY drawdown of -12.17%. Use the drawdown chart below to compare losses from any high point for MLPI and CHPY.

Drawdown Indicators

	MLPI	CHPY	Difference
Max Drawdown Largest peak-to-trough decline	-5.38%	-12.17%	+6.79%
Max Drawdown (1Y) Largest decline over 1 year	—	-12.17%	—
Current Drawdown Current decline from peak	-3.84%	0.00%	-3.84%
Average Drawdown Average peak-to-trough decline	-1.27%	-1.98%	+0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.18%	—

Volatility

Volatility by Period

	MLPI	CHPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	11.23%	—
Volatility (6M) Calculated over the trailing 6-month period	—	22.33%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.05%	27.59%	-14.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.05%	33.17%	-20.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.05%	33.17%	-20.12%

MLPI vs. CHPY - Expense Ratio Comparison

MLPI has a 0.68% expense ratio, which is lower than CHPY's 0.99% expense ratio.

Dividends

MLPI vs. CHPY - Dividend Comparison

MLPI's dividend yield for the trailing twelve months is around 6.04%, less than CHPY's 28.40% yield.

Position	TTM	2025
CHPY YieldMax Semiconductor Portfolio Option Income ETF	28.40%	28.19%
MLPI Neos MLP & Energy Infrastructure High Income ETF	6.04%	0.00%

Frequently Asked Questions

Can I hold both MLPI and CHPY in my portfolio?

MLPI and CHPY have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MLPI or CHPY?

On fees, MLPI is cheaper at 0.68% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MLPI or CHPY?

MLPI is cheaper with a 0.68% expense ratio, compared with 0.99% for CHPY.

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

CHPY has the higher dividend yield at 28.40%, compared with 6.04% for MLPI.

What is the main difference between MLPI and CHPY?

MLPI is categorized as Energy Equities, while CHPY is Derivative Income. They also come from different issuers: Neos and YieldMax. Their fees differ too: 0.68% for MLPI and 0.99% for CHPY.