MLPI vs. PBOG

Last updated Jun 4, 2026

MLPI (Neos MLP & Energy Infrastructure High Income ETF) and PBOG (Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF) are both exchange-traded funds - MLPI is a Energy Equities fund actively managed by Neos, while PBOG is a Oil & Gas fund tracking the BITA Global Oil & Gas Select Index. MLPI is actively managed, while PBOG is passively managed. A 0.64 correlation means they provide meaningful diversification when combined. MLPI charges 0.68%/yr vs 0.13%/yr for PBOG.

Performance

MLPI vs. PBOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neos MLP & Energy Infrastructure High Income ETF (MLPI) and Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG). 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 PBOG's 32.22% return.

MLPI

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

PBOG

• 1D: 1.23%
• 1M: -2.32%
• YTD: 32.22%
• 6M: 29.70%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MLPI vs. PBOG - Yearly Performance Comparison

	2026 (YTD)	2025
MLPI Neos MLP & Energy Infrastructure High Income ETF	17.58%	0.56%
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF	32.22%	3.19%

Correlation

The correlation between MLPI and PBOG is 0.64, 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 19, 2025	0.64

Return for Risk

MLPI vs. PBOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neos MLP & Energy Infrastructure High Income ETF (MLPI) and Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG). 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	PBOG	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	3.49	3.31	+0.17

Drawdowns

MLPI vs. PBOG - Drawdown Comparison

The maximum MLPI drawdown since its inception was -5.38%, smaller than the maximum PBOG drawdown of -11.45%. Use the drawdown chart below to compare losses from any high point for MLPI and PBOG.

Drawdown Indicators

	MLPI	PBOG	Difference
Max Drawdown Largest peak-to-trough decline	-5.38%	-11.45%	+6.07%
Current Drawdown Current decline from peak	-3.84%	-6.81%	+2.97%
Average Drawdown Average peak-to-trough decline	-1.27%	-3.10%	+1.83%

Volatility

Volatility by Period

	MLPI	PBOG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	13.05%	23.67%	-10.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.05%	23.67%	-10.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.05%	23.67%	-10.62%

MLPI vs. PBOG - Expense Ratio Comparison

MLPI has a 0.68% expense ratio, which is higher than PBOG's 0.13% expense ratio.

Dividends

MLPI vs. PBOG - Dividend Comparison

MLPI's dividend yield for the trailing twelve months is around 6.04%, more than PBOG's 0.13% yield.

Position	TTM	2025
MLPI Neos MLP & Energy Infrastructure High Income ETF	6.04%	0.00%
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF	0.13%	0.17%

Frequently Asked Questions

Can I hold both MLPI and PBOG in my portfolio?

MLPI and PBOG have a correlation of 0.64, 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 PBOG?

On fees, PBOG is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MLPI or PBOG?

PBOG is cheaper with a 0.13% expense ratio, compared with 0.68% for MLPI.

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

MLPI has the higher dividend yield at 6.04%, compared with 0.13% for PBOG.

What is the main difference between MLPI and PBOG?

MLPI is categorized as Energy Equities, while PBOG is Oil & Gas. They also come from different issuers: Neos and Portfolio Building Blocks. Their fees differ too: 0.68% for MLPI and 0.13% for PBOG.