MLPI vs. ERX

Last updated Apr 1, 2026

Compare and contrast key facts about Neos MLP & Energy Infrastructure High Income ETF (MLPI) and Direxion Daily Energy Bull 2X Shares (ERX).

MLPI and ERX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MLPI is an actively managed fund by Neos. It was launched on Dec 17, 2025. ERX is a passively managed fund by Direxion that tracks the performance of the Energy Select Sector Index (300%). It was launched on Apr 1, 2020.

Performance

MLPI vs. ERX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neos MLP & Energy Infrastructure High Income ETF (MLPI) and Direxion Daily Energy Bull 2X Shares (ERX). The values are adjusted to include any dividend payments, if applicable.

MLPI vs. ERX - Yearly Performance Comparison

	2026 (YTD)	2025
MLPI Neos MLP & Energy Infrastructure High Income ETF	17.27%	0.56%
ERX Direxion Daily Energy Bull 2X Shares	85.42%	4.26%

Returns By Period

In the year-to-date period, MLPI achieves a 17.27% return, which is significantly lower than ERX's 85.42% return.

MLPI

• 1D: -0.40%
• 1M: 3.16%
• YTD: 17.27%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ERX

• 1D: -2.61%
• 1M: 20.58%
• YTD: 85.42%
• 6M: 84.60%
• 1Y: 61.51%
• 3Y*: 24.14%
• 5Y*: 36.55%
• 10Y*: -5.60%

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

MLPI vs. ERX - Expense Ratio Comparison

MLPI has a 0.68% expense ratio, which is lower than ERX's 1.09% expense ratio.

ERX

Direxion Daily Energy Bull 2X Shares

MLPI

Neos MLP & Energy Infrastructure High Income ETF

Return for Risk

MLPI vs. ERX — Risk / Return Rank

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

ERX

ERX Risk / Return Rank: 65
ERX Sharpe Ratio Rank: 73
ERX Sortino Ratio Rank: 69
ERX Omega Ratio Rank: 69
ERX Calmar Ratio Rank: 74
ERX Martin Ratio Rank: 42

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. ERX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neos MLP & Energy Infrastructure High Income ETF (MLPI) and Direxion Daily Energy Bull 2X Shares (ERX). 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	ERX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.25	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.71	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.08	—
Sharpe Ratio (All Time) Calculated using the full available price history	7.48	-0.08	+7.56

Correlation

The correlation between MLPI and ERX is 0.64, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MLPI vs. ERX - Dividend Comparison

MLPI's dividend yield for the trailing twelve months is around 3.49%, more than ERX's 1.45% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLPI Neos MLP & Energy Infrastructure High Income ETF	3.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ERX Direxion Daily Energy Bull 2X Shares	1.45%	2.54%	2.94%	3.17%	2.23%	2.16%	2.35%	1.56%	3.10%	0.85%

Drawdowns

MLPI vs. ERX - Drawdown Comparison

The maximum MLPI drawdown since its inception was -2.78%, smaller than the maximum ERX drawdown of -99.54%. Use the drawdown chart below to compare losses from any high point for MLPI and ERX.

Drawdown Indicators

	MLPI	ERX	Difference
Max Drawdown Largest peak-to-trough decline	-2.78%	-99.54%	+96.76%
Max Drawdown (1Y) Largest decline over 1 year	—	-35.17%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-46.90%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-98.59%	—
Current Drawdown Current decline from peak	-1.19%	-90.64%	+89.45%
Average Drawdown Average peak-to-trough decline	-0.60%	-66.77%	+66.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	17.25%	—

Volatility

Volatility by Period

	MLPI	ERX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	10.19%	—
Volatility (6M) Calculated over the trailing 6-month period	—	28.10%	—
Volatility (1Y) Calculated over the trailing 1-year period	11.12%	49.61%	-38.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.12%	52.12%	-41.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.12%	69.23%	-58.11%