MLPI vs. XLEI

Last updated Aug 2, 2026

MLPI (NEOS MLP & Energy Infrastructure High Income ETF) and XLEI (State Street Energy Select Sector SPDR Premium Income ETF) are both exchange-traded funds - MLPI is a Infrastructure Equities fund actively managed by Neos, while XLEI is a Energy Equities fund tracking the S&P Energy Select Sector. MLPI is actively managed, while XLEI is passively managed. Their 0.68 correlation means they have sometimes moved together and sometimes differently. MLPI charges 0.68%/yr vs 0.35%/yr for XLEI.

Performance

MLPI vs. XLEI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS MLP & Energy Infrastructure High Income ETF (MLPI) and State Street Energy Select Sector SPDR Premium Income ETF (XLEI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLPI achieves a 18.15% return, which is significantly lower than XLEI's 24.56% return.

MLPI

• 1D: -0.07%
• 1M: -0.05%
• 6M: 11.52%
• YTD: 18.15%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

XLEI

• 1D: 0.78%
• 1M: 10.90%
• 6M: 15.89%
• YTD: 24.56%
• 1Y: 35.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 32.17%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MLPI NEOS MLP & Energy Infrastructure High Income ETF	$23.44M	$21.53M	$19.40M
XLEI State Street Energy Select Sector SPDR Premium Income ETF	$1.55M	$1.39M	$1.31M

MLPI vs. XLEI - Yearly Performance Comparison

	2026 (YTD)	2025
MLPI NEOS MLP & Energy Infrastructure High Income ETF	18.15%	0.36%
XLEI State Street Energy Select Sector SPDR Premium Income ETF	24.56%	1.21%

Correlation

The correlation between MLPI and XLEI is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	0.68

Return for Risk

MLPI vs. XLEI — Risk / Return Rank

Compare historical risk-adjusted metric ranks 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.

XLEI

XLEI Risk / Return Rank: 89
XLEI Sharpe Ratio Rank: 92
XLEI Sortino Ratio Rank: 88
XLEI Omega Ratio Rank: 89
XLEI Calmar Ratio Rank: 91
XLEI Martin Ratio Rank: 86

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MLPI vs. XLEI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS MLP & Energy Infrastructure High Income ETF (MLPI) and State Street Energy Select Sector SPDR Premium Income ETF (XLEI). 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	XLEI	Difference
Sharpe ratio: Return per unit of total volatility	—	2.40	—
Sortino ratio: Return per unit of downside risk	—	3.00	—
Omega ratio: Gain probability vs. loss probability	—	1.41	—
Calmar ratio: Return relative to maximum drawdown	—	4.11	—
Martin ratio: Return relative to average drawdown	—	12.37	—

Drawdowns

MLPI vs. XLEI - Drawdown Comparison

The maximum MLPI drawdown since its inception was -5.38%, smaller than the maximum XLEI drawdown of -8.19%. Use the drawdown chart below to compare losses from any high point for MLPI and XLEI.

Drawdown Indicators

	MLPI	XLEI	Difference
Max Drawdown Largest peak-to-trough decline	-5.38%	-8.19%	+2.81%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.19%	—
Current Drawdown Current decline from peak	-3.36%	0.00%	-3.36%
Average Drawdown Average peak-to-trough decline	-1.63%	-1.84%	+0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.74%	—

Volatility

Volatility by Period

	MLPI	XLEI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.96%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.26%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.31%	14.03%	-0.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.31%	14.02%	-0.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.31%	14.02%	-0.71%

MLPI vs. XLEI - Expense Ratio Comparison

MLPI has a 0.68% expense ratio, which is higher than XLEI's 0.35% expense ratio.

Dividends

MLPI vs. XLEI - Dividend Comparison

MLPI's dividend yield for the trailing twelve months is around 8.63%, less than XLEI's 18.37% yield.

Position	TTM	2025
MLPI NEOS MLP & Energy Infrastructure High Income ETF	8.63%	0.00%
XLEI State Street Energy Select Sector SPDR Premium Income ETF	18.37%	10.17%

Frequently Asked Questions

Can I hold both MLPI and XLEI in my portfolio?

MLPI and XLEI have a correlation of 0.68, 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 XLEI?

On fees, XLEI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MLPI or XLEI?

XLEI is cheaper with a 0.35% expense ratio, compared with 0.68% for MLPI.

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

XLEI has the higher dividend yield at 18.37%, compared with 8.63% for MLPI.

What is the main difference between MLPI and XLEI?

MLPI is categorized as Infrastructure Equities, while XLEI is Energy Equities. They also come from different issuers: Neos and State Street. Their fees differ too: 0.68% for MLPI and 0.35% for XLEI.