NIKL vs. MLPI

Last updated Jun 25, 2026

NIKL (Sprott Nickel Miners ETF) and MLPI (NEOS MLP & Energy Infrastructure High Income ETF) are both exchange-traded funds - NIKL is a Energy Equities fund tracking the Nasdaq Sprott Nickel Miners Index - Benchmark TR Gross, while MLPI is a MLPs fund actively managed by NEOS. NIKL is passively managed, while MLPI is actively managed. At a correlation of -0.07, they often move in opposite directions. NIKL charges 0.75%/yr vs 0.68%/yr for MLPI.

Performance

NIKL vs. MLPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Nickel Miners ETF (NIKL) and NEOS MLP & Energy Infrastructure High Income ETF (MLPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NIKL achieves a -16.99% return, which is significantly lower than MLPI's 18.83% return.

NIKL

• 1D: -3.15%
• 1M: -15.97%
• YTD: -16.99%
• 6M: -16.03%
• 1Y: 20.56%
• 3Y*: -7.91%
• 5Y*: —
• 10Y*: —

MLPI

• 1D: -0.65%
• 1M: -2.81%
• YTD: 18.83%
• 6M: 18.86%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NIKL vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
NIKL Sprott Nickel Miners ETF	-16.99%	16.45%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	18.83%	0.36%

Correlation

The correlation between NIKL and MLPI is -0.07, 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 18, 2025	-0.07

Return for Risk

NIKL vs. MLPI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

NIKL

NIKL Risk / Return Rank: 17
NIKL Sharpe Ratio Rank: 17
NIKL Sortino Ratio Rank: 18
NIKL Omega Ratio Rank: 18
NIKL Calmar Ratio Rank: 16
NIKL Martin Ratio Rank: 16

MLPI

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

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.

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.

	NIKL	MLPI	Difference
Sharpe ratio: Return per unit of total volatility	0.48	—	—
Sortino ratio: Return per unit of downside risk	0.95	—	—
Omega ratio: Gain probability vs. loss probability	1.11	—	—
Calmar ratio: Return relative to maximum drawdown	0.56	—	—
Martin ratio: Return relative to average drawdown	1.43	—	—

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.

Drawdown Indicators

	NIKL	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	-60.23%	-5.38%	-54.85%
Max Drawdown (1Y) Largest decline over 1 year	-36.58%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-60.23%	—	—
Current Drawdown Current decline from peak	-36.58%	-2.81%	-33.77%
Average Drawdown Average peak-to-trough decline	-26.65%	-1.50%	-25.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.42%	—	—

Volatility

Volatility by Period

	NIKL	MLPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.45%	—	—
Volatility (6M) Calculated over the trailing 6-month period	36.97%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	43.03%	13.05%	+29.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.99%	13.05%	+19.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.99%	13.05%	+19.94%

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 3.04%, less than MLPI's 7.24% yield.

Position	TTM	2025	2024	2023
MLPI NEOS MLP & Energy Infrastructure High Income ETF	7.24%	0.00%	0.00%	0.00%
NIKL Sprott Nickel Miners ETF	3.04%	2.53%	3.49%	19.52%

Frequently Asked Questions

Can I hold both NIKL and MLPI in my portfolio?

NIKL and MLPI have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NIKL or MLPI?

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.

Which ETF is cheaper, NIKL or MLPI?

MLPI is cheaper with a 0.68% expense ratio, compared with 0.75% for NIKL.

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

MLPI has the higher dividend yield at 7.24%, compared with 3.04% for NIKL.

What is the main difference between NIKL and MLPI?

NIKL is categorized as Energy Equities, while MLPI is MLPs. They also come from different issuers: Sprott and NEOS. Their fees differ too: 0.75% for NIKL and 0.68% for MLPI.