OIH vs. MLPI

Last updated Jun 24, 2026

OIH (VanEck Oil Services ETF) and MLPI (NEOS MLP & Energy Infrastructure High Income ETF) are both exchange-traded funds - OIH is a Energy Equities fund tracking the MVIS US Listed Oil Services 25 Index, while MLPI is a MLPs fund actively managed by NEOS. OIH is passively managed, while MLPI is actively managed. At a 0.47 correlation, their price movements are largely independent. OIH charges 0.35%/yr vs 0.68%/yr for MLPI.

Performance

OIH vs. MLPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Oil Services ETF (OIH) 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, OIH achieves a 35.03% return, which is significantly higher than MLPI's 19.61% return.

OIH

• 1D: -1.13%
• 1M: -13.39%
• YTD: 35.03%
• 6M: 35.52%
• 1Y: 68.64%
• 3Y*: 14.83%
• 5Y*: 12.26%
• 10Y*: -2.32%

MLPI

• 1D: 1.09%
• 1M: -2.18%
• YTD: 19.61%
• 6M: 18.17%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OIH vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
OIH VanEck Oil Services ETF	35.03%	1.01%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	19.61%	0.36%

Correlation

The correlation between OIH and MLPI is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	0.47

Return for Risk

OIH vs. MLPI — Risk / Return Rank

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

OIH

OIH Risk / Return Rank: 75
OIH Sharpe Ratio Rank: 75
OIH Sortino Ratio Rank: 69
OIH Omega Ratio Rank: 63
OIH Calmar Ratio Rank: 85
OIH Martin Ratio Rank: 83

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.

OIH vs. MLPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Oil Services ETF (OIH) 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.

	OIH	MLPI	Difference
Sharpe ratio: Return per unit of total volatility	2.30	—	—
Sortino ratio: Return per unit of downside risk	2.97	—	—
Omega ratio: Gain probability vs. loss probability	1.36	—	—
Calmar ratio: Return relative to maximum drawdown	4.51	—	—
Martin ratio: Return relative to average drawdown	16.04	—	—

Drawdowns

OIH vs. MLPI - Drawdown Comparison

The maximum OIH drawdown since its inception was -94.45%, which is greater than MLPI's maximum drawdown of -5.38%. Use the drawdown chart below to compare losses from any high point for OIH and MLPI.

Drawdown Indicators

	OIH	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	-94.45%	-5.38%	-89.07%
Max Drawdown (1Y) Largest decline over 1 year	-15.29%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-43.80%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-43.80%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-89.62%	—	—
Current Drawdown Current decline from peak	-65.76%	-2.18%	-63.58%
Average Drawdown Average peak-to-trough decline	-48.87%	-1.49%	-47.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.29%	—	—

Volatility

Volatility by Period

	OIH	MLPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.14%	—	—
Volatility (6M) Calculated over the trailing 6-month period	21.14%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	30.39%	13.05%	+17.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.79%	13.05%	+23.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.38%	13.05%	+29.33%

OIH vs. MLPI - Expense Ratio Comparison

OIH has a 0.35% expense ratio, which is lower than MLPI's 0.68% expense ratio.

Dividends

OIH vs. MLPI - Dividend Comparison

OIH's dividend yield for the trailing twelve months is around 1.27%, less than MLPI's 7.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLPI NEOS MLP & Energy Infrastructure High Income ETF	7.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
OIH VanEck Oil Services ETF	1.27%	1.71%	2.01%	1.36%	0.95%	0.98%	1.23%	2.10%	2.13%	2.60%	1.40%	2.39%

Frequently Asked Questions

Can I hold both OIH and MLPI in my portfolio?

OIH and MLPI have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, OIH or MLPI?

On fees, OIH 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, OIH or MLPI?

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

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

MLPI has the higher dividend yield at 7.19%, compared with 1.27% for OIH.

What is the main difference between OIH and MLPI?

OIH is categorized as Energy Equities, while MLPI is MLPs. They also come from different issuers: VanEck and NEOS. Their fees differ too: 0.35% for OIH and 0.68% for MLPI.