MLPI vs. SPYI
MLPI (NEOS MLP & Energy Infrastructure High Income ETF) and SPYI (NEOS S&P 500 High Income ETF) are both exchange-traded funds - MLPI is a Infrastructure Equities fund actively managed by Neos, while SPYI is a Derivative Income fund actively managed by Neos. Both are actively managed. Their -0.23 correlation means they have often moved in opposite directions in the past. Both charge a 0.68% expense ratio.
Performance
MLPI vs. SPYI - Performance Comparison
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Returns By Period
In the year-to-date period, MLPI achieves a 18.15% return, which is significantly higher than SPYI's 7.96% return.
MLPI
- 1D
- -0.07%
- 1M
- -0.05%
- 6M
- 11.52%
- YTD
- 18.15%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
SPYI
- 1D
- 0.65%
- 1M
- 0.62%
- 6M
- 6.50%
- YTD
- 7.96%
- 1Y
- 18.69%
- 3Y*
- 14.78%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 14.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $23.44M | $21.53M | $19.40M | |
| $155.71M | $137.58M | $149.04M |
MLPI vs. SPYI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MLPI NEOS MLP & Energy Infrastructure High Income ETF | 18.15% | 0.36% |
SPYI NEOS S&P 500 High Income ETF | 7.96% | 1.96% |
Correlation
The correlation between MLPI and SPYI is -0.23, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025 | -0.23 |
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Return for Risk
MLPI vs. SPYI — Risk / Return Rank
MLPI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SPYI
MLPI vs. SPYI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NEOS MLP & Energy Infrastructure High Income ETF (MLPI) and NEOS S&P 500 High Income ETF (SPYI). 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 | SPYI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.30 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.23 | — |
| Martin ratioReturn relative to average drawdown | — | 10.69 | — |
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Drawdowns
MLPI vs. SPYI - Drawdown Comparison
The maximum MLPI drawdown since its inception was -5.38%, smaller than the maximum SPYI drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for MLPI and SPYI.
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Drawdown Indicators
| MLPI | SPYI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.38% | -16.47% | +11.09% |
Max Drawdown (1Y)Largest decline over 1 year | — | -7.72% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.47% | — |
Current DrawdownCurrent decline from peak | -3.36% | -0.65% | -2.71% |
Average DrawdownAverage peak-to-trough decline | -1.63% | -1.79% | +0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 1.61% | — |
Volatility
MLPI vs. SPYI - Volatility Comparison
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Volatility by Period
| MLPI | SPYI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 3.22% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 8.68% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 13.31% | 10.80% | +2.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.31% | 12.96% | +0.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.31% | 12.96% | +0.35% |
MLPI vs. SPYI - Expense Ratio Comparison
Both MLPI and SPYI have an expense ratio of 0.68%.
Dividends
MLPI vs. SPYI - Dividend Comparison
MLPI's dividend yield for the trailing twelve months is around 8.63%, less than SPYI's 11.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
MLPI NEOS MLP & Energy Infrastructure High Income ETF | 8.63% | 0.00% | 0.00% | 0.00% | 0.00% |
SPYI NEOS S&P 500 High Income ETF | 11.93% | 11.70% | 12.04% | 12.01% | 4.10% |
Frequently Asked Questions
MLPI and SPYI have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.68% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
MLPI and SPYI have the same expense ratio: 0.68% per year.
SPYI has the higher dividend yield at 11.93%, compared with 8.63% for MLPI.
MLPI is categorized as Infrastructure Equities, while SPYI is Derivative Income.
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