MLPI vs. MLPX

Last updated Jun 23, 2026

MLPI (NEOS MLP & Energy Infrastructure High Income ETF) and MLPX (Global X MLP & Energy Infrastructure ETF) are both MLPs funds. MLPI is actively managed, while MLPX is passively managed. Their correlation of 0.92 suggests significant overlap in exposure. MLPI charges 0.68%/yr vs 0.45%/yr for MLPX.

Performance

MLPI vs. MLPX - 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 ETF (MLPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLPI achieves a 18.32% return, which is significantly lower than MLPX's 23.27% return.

MLPI

• 1D: 1.53%
• 1M: -3.23%
• YTD: 18.32%
• 6M: 17.87%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MLPX

• 1D: 1.07%
• 1M: -5.57%
• YTD: 23.27%
• 6M: 24.71%
• 1Y: 23.19%
• 3Y*: 28.84%
• 5Y*: 20.93%
• 10Y*: 12.27%

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

MLPI vs. MLPX - Yearly Performance Comparison

	2026 (YTD)	2025
MLPI NEOS MLP & Energy Infrastructure High Income ETF	18.32%	0.36%
MLPX Global X MLP & Energy Infrastructure ETF	23.27%	1.82%

Correlation

The correlation between MLPI and MLPX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	0.92

Return for Risk

MLPI vs. MLPX — 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.

MLPX

MLPX Risk / Return Rank: 46
MLPX Sharpe Ratio Rank: 45
MLPX Sortino Ratio Rank: 43
MLPX Omega Ratio Rank: 40
MLPX Calmar Ratio Rank: 59
MLPX Martin Ratio Rank: 44

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. MLPX - 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 ETF (MLPX). 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	MLPX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.52	—
Sortino ratio: Return per unit of downside risk	—	2.13	—
Omega ratio: Gain probability vs. loss probability	—	1.26	—
Calmar ratio: Return relative to maximum drawdown	—	2.85	—
Martin ratio: Return relative to average drawdown	—	6.87	—

Drawdowns

MLPI vs. MLPX - Drawdown Comparison

The maximum MLPI drawdown since its inception was -5.38%, smaller than the maximum MLPX drawdown of -70.67%. Use the drawdown chart below to compare losses from any high point for MLPI and MLPX.

Drawdown Indicators

	MLPI	MLPX	Difference
Max Drawdown Largest peak-to-trough decline	-5.38%	-70.67%	+65.29%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.18%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-16.77%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.72%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-64.70%	—
Current Drawdown Current decline from peak	-3.23%	-5.93%	+2.70%
Average Drawdown Average peak-to-trough decline	-1.49%	-16.59%	+15.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.39%	—

Volatility

Volatility by Period

	MLPI	MLPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.48%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.71%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.04%	15.38%	-2.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.04%	19.98%	-6.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.04%	26.49%	-13.45%

MLPI vs. MLPX - Expense Ratio Comparison

MLPI has a 0.68% expense ratio, which is higher than MLPX's 0.45% expense ratio.

Dividends

MLPI vs. MLPX - Dividend Comparison

MLPI's dividend yield for the trailing twelve months is around 7.27%, more than MLPX's 4.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLPI NEOS MLP & Energy Infrastructure High Income ETF	7.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MLPX Global X MLP & Energy Infrastructure ETF	4.16%	4.88%	4.30%	5.22%	5.23%	5.98%	8.32%	5.78%	5.77%	4.36%	5.50%	4.81%

Frequently Asked Questions

Can I hold both MLPI and MLPX in my portfolio?

With a correlation of 0.92, MLPI and MLPX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, MLPI or MLPX?

On fees, MLPX is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MLPI or MLPX?

MLPX is cheaper with a 0.45% expense ratio, compared with 0.68% for MLPI.

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

MLPI has the higher dividend yield at 7.27%, compared with 4.16% for MLPX.

What is the main difference between MLPI and MLPX?

They also come from different issuers: NEOS and Global X. Their fees differ too: 0.68% for MLPI and 0.45% for MLPX.