NIKL vs. MLPI
NIKL (Sprott Nickel Miners ETF) and MLPI (Neos MLP & Energy Infrastructure High Income ETF) are both Energy Equities funds. NIKL is passively managed, while MLPI is actively managed. At a correlation of -0.04, they often move in opposite directions. NIKL charges 0.75%/yr vs 0.68%/yr for MLPI.
Performance
NIKL vs. MLPI - Performance Comparison
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Returns By Period
In the year-to-date period, NIKL achieves a -8.20% return, which is significantly lower than MLPI's 17.58% return.
NIKL
- 1D
- -8.49%
- 1M
- -14.45%
- YTD
- -8.20%
- 6M
- 5.56%
- 1Y
- 32.72%
- 3Y*
- -3.41%
- 5Y*
- —
- 10Y*
- —
MLPI
- 1D
- 0.04%
- 1M
- -3.13%
- YTD
- 17.58%
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
NIKL vs. MLPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
NIKL Sprott Nickel Miners ETF | -8.20% | 13.33% |
MLPI Neos MLP & Energy Infrastructure High Income ETF | 17.58% | 0.56% |
Correlation
The correlation between NIKL and MLPI is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 19, 2025 | -0.04 |
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Return for Risk
NIKL vs. MLPI — Risk / Return Rank
NIKL
MLPI
NIKL vs. MLPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Nickel Miners ETF (NIKL) and Neos MLP & Energy Infrastructure High Income ETF (MLPI). 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.
| NIKL | MLPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.16 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 1.10 | — | — |
| Martin ratioReturn relative to average drawdown | 2.67 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NIKL | MLPI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.78 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.11 | 3.49 | -3.60 |
Drawdowns
NIKL vs. MLPI - Drawdown Comparison
The maximum NIKL drawdown since its inception was -60.23%, which is greater than MLPI's maximum drawdown of -5.38%. Use the drawdown chart below to compare losses from any high point for NIKL and MLPI.
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Drawdown Indicators
| NIKL | MLPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.23% | -5.38% | -54.85% |
Max Drawdown (1Y)Largest decline over 1 year | -29.87% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -60.23% | — | — |
Current DrawdownCurrent decline from peak | -29.87% | -3.84% | -26.03% |
Average DrawdownAverage peak-to-trough decline | -26.58% | -1.27% | -25.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.29% | — | — |
Volatility
NIKL vs. MLPI - Volatility Comparison
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Volatility by Period
| NIKL | MLPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.28% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 35.54% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 42.12% | 13.05% | +29.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.62% | 13.05% | +19.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.62% | 13.05% | +19.57% |
NIKL vs. MLPI - Expense Ratio Comparison
NIKL has a 0.75% expense ratio, which is higher than MLPI's 0.68% expense ratio.
Dividends
NIKL vs. MLPI - Dividend Comparison
NIKL's dividend yield for the trailing twelve months is around 2.75%, less than MLPI's 6.04% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
MLPI Neos MLP & Energy Infrastructure High Income ETF | 6.04% | 0.00% | 0.00% | 0.00% |
NIKL Sprott Nickel Miners ETF | 2.75% | 2.53% | 3.49% | 19.52% |
Frequently Asked Questions
NIKL and MLPI have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MLPI is cheaper at 0.68% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MLPI is cheaper with a 0.68% expense ratio, compared with 0.75% for NIKL.
MLPI has the higher dividend yield at 6.04%, compared with 2.75% for NIKL.
They also come from different issuers: Sprott and Neos. Their fees differ too: 0.75% for NIKL and 0.68% for MLPI.
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