MLPI vs. MLPD

Last updated Jul 17, 2026

MLPI (NEOS MLP & Energy Infrastructure High Income ETF) and MLPD (Global X MLP & Energy Infrastructure Covered Call ETF) are both exchange-traded funds - MLPI is a MLPs fund actively managed by NEOS, while MLPD is a Derivative Income fund tracking the Cboe MLPX ATM BuyWrite Index. MLPI is actively managed, while MLPD is passively managed. A 0.66 correlation means they provide meaningful diversification when combined. MLPI charges 0.68%/yr vs 0.60%/yr for MLPD.

Performance

MLPI vs. MLPD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS MLP & Energy Infrastructure High Income ETF (MLPI) and Global X MLP & Energy Infrastructure Covered Call ETF (MLPD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLPI achieves a 21.15% return, which is significantly higher than MLPD's 6.80% return.

MLPI

• 1D: 0.43%
• 1M: 3.48%
• 6M: 21.06%
• YTD: 21.15%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MLPD

• 1D: -0.10%
• 1M: 2.18%
• 6M: 5.89%
• YTD: 6.80%
• 1Y: 14.11%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MLPI vs. MLPD - Yearly Performance Comparison

	2026 (YTD)	2025
MLPI NEOS MLP & Energy Infrastructure High Income ETF	21.15%	0.36%
MLPD Global X MLP & Energy Infrastructure Covered Call ETF	6.80%	1.20%

Correlation

The correlation between MLPI and MLPD is 0.66, 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	0.66

Return for Risk

MLPI vs. MLPD — Risk / Return Rank

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

MLPI

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

MLPD

MLPD Risk / Return Rank: 71
MLPD Sharpe Ratio Rank: 73
MLPD Sortino Ratio Rank: 68
MLPD Omega Ratio Rank: 74
MLPD Calmar Ratio Rank: 73
MLPD Martin Ratio Rank: 66

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. MLPD - Risk-Adjusted Trends Comparison

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

	MLPI	MLPD	Difference
Sharpe ratio: Return per unit of total volatility	—	1.86	—
Sortino ratio: Return per unit of downside risk	—	2.49	—
Omega ratio: Gain probability vs. loss probability	—	1.34	—
Calmar ratio: Return relative to maximum drawdown	—	2.95	—
Martin ratio: Return relative to average drawdown	—	9.26	—

Drawdowns

MLPI vs. MLPD - Drawdown Comparison

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

Drawdown Indicators

	MLPI	MLPD	Difference
Max Drawdown Largest peak-to-trough decline	-5.38%	-12.90%	+7.52%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.80%	—
Current Drawdown Current decline from peak	-0.91%	-0.27%	-0.64%
Average Drawdown Average peak-to-trough decline	-1.58%	-1.12%	-0.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.53%	—

Volatility

Volatility by Period

	MLPI	MLPD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.15%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.39%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.25%	7.64%	+5.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.25%	11.22%	+2.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.25%	11.22%	+2.03%

MLPI vs. MLPD - Expense Ratio Comparison

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

Dividends

MLPI vs. MLPD - Dividend Comparison

MLPI's dividend yield for the trailing twelve months is around 7.10%, less than MLPD's 13.37% yield.

Position	TTM	2025	2024
MLPD Global X MLP & Energy Infrastructure Covered Call ETF	13.37%	13.45%	6.68%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	7.10%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MLPI and MLPD in my portfolio?

MLPI and MLPD have a correlation of 0.66, 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 MLPD?

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, MLPI or MLPD?

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

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

MLPD has the higher dividend yield at 13.37%, compared with 7.10% for MLPI.

What is the main difference between MLPI and MLPD?

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