PEO vs. EIPI

Last updated Jun 23, 2026

PEO (Adams Natural Resources Closed Fund) and EIPI (FT Energy Income Partners Enhanced Income ETF) are both funds - PEO is a Energy Equities fund actively managed by Adams Funds, while EIPI is a Derivative Income fund actively managed by First Trust. Both are actively managed. Over the past year, PEO returned 20.97% vs 19.20% for EIPI. A 0.63 correlation means they provide meaningful diversification when combined. PEO charges 0.64%/yr vs 1.11%/yr for EIPI.

Performance

PEO vs. EIPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Adams Natural Resources Closed Fund (PEO) and FT Energy Income Partners Enhanced Income ETF (EIPI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PEO achieves a 17.61% return, which is significantly higher than EIPI's 13.00% return.

PEO

• 1D: 0.33%
• 1M: -7.04%
• YTD: 17.61%
• 6M: 18.87%
• 1Y: 20.97%
• 3Y*: 17.34%
• 5Y*: 17.08%
• 10Y*: 9.43%

EIPI

• 1D: 0.88%
• 1M: -3.92%
• YTD: 13.00%
• 6M: 14.24%
• 1Y: 19.20%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PEO vs. EIPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PEO Adams Natural Resources Closed Fund	17.61%	9.98%	1.07%
EIPI FT Energy Income Partners Enhanced Income ETF	13.00%	12.38%	13.14%

Correlation

The correlation between PEO and EIPI is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (All Time) Calculated using the full available price history since May 6, 2024	0.63

The correlation between PEO and EIPI has been stable across timeframes, ranging from 0.61 to 0.63 - a consistent structural relationship.

Return for Risk

PEO vs. EIPI — Risk / Return Rank

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

PEO

PEO Risk / Return Rank: 21
PEO Sharpe Ratio Rank: 20
PEO Sortino Ratio Rank: 18
PEO Omega Ratio Rank: 18
PEO Calmar Ratio Rank: 26
PEO Martin Ratio Rank: 25

EIPI

EIPI Risk / Return Rank: 67
EIPI Sharpe Ratio Rank: 63
EIPI Sortino Ratio Rank: 67
EIPI Omega Ratio Rank: 56
EIPI Calmar Ratio Rank: 80
EIPI Martin Ratio Rank: 72

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.

PEO vs. EIPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Adams Natural Resources Closed Fund (PEO) and FT Energy Income Partners Enhanced Income ETF (EIPI). 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.

	PEO	EIPI	Difference
Sharpe ratio: Return per unit of total volatility	1.19	2.01	-0.82
Sortino ratio: Return per unit of downside risk	1.65	2.95	-1.31
Omega ratio: Gain probability vs. loss probability	1.21	1.34	-0.13
Calmar ratio: Return relative to maximum drawdown	1.76	4.04	-2.27
Martin ratio: Return relative to average drawdown	5.55	12.86	-7.30

PEO vs. EIPI - Sharpe Ratio Comparison

The current PEO Sharpe Ratio is 1.19, which is lower than the EIPI Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of PEO and EIPI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PEO vs. EIPI - Drawdown Comparison

The maximum PEO drawdown since its inception was -71.88%, which is greater than EIPI's maximum drawdown of -12.33%. Use the drawdown chart below to compare losses from any high point for PEO and EIPI.

Drawdown Indicators

	PEO	EIPI	Difference
Max Drawdown Largest peak-to-trough decline	-71.88%	-12.33%	-59.55%
Max Drawdown (1Y) Largest decline over 1 year	-11.93%	-4.77%	-7.16%
Max Drawdown (3Y) Largest decline over 3 years	-18.86%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.30%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-67.74%	—	—
Current Drawdown Current decline from peak	-11.65%	-3.94%	-7.71%
Average Drawdown Average peak-to-trough decline	-15.31%	-1.70%	-13.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.81%	1.50%	+2.31%

Volatility

PEO vs. EIPI - Volatility Comparison

Adams Natural Resources Closed Fund (PEO) has a higher volatility of 5.37% compared to FT Energy Income Partners Enhanced Income ETF (EIPI) at 3.22%. This indicates that PEO's price experiences larger fluctuations and is considered to be riskier than EIPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEO	EIPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.37%	3.22%	+2.15%
Volatility (6M) Calculated over the trailing 6-month period	14.75%	7.35%	+7.40%
Volatility (1Y) Calculated over the trailing 1-year period	17.73%	9.63%	+8.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.37%	13.01%	+10.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.34%	13.01%	+14.33%

PEO vs. EIPI - Expense Ratio Comparison

PEO has a 0.64% expense ratio, which is lower than EIPI's 1.11% expense ratio.

Dividends

PEO vs. EIPI - Dividend Comparison

PEO's dividend yield for the trailing twelve months is around 8.18%, more than EIPI's 6.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIPI FT Energy Income Partners Enhanced Income ETF	6.87%	9.71%	6.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PEO Adams Natural Resources Closed Fund	8.18%	9.43%	8.14%	6.54%	7.48%	5.51%	6.42%	6.68%	5.63%	5.95%	5.65%	7.78%

Frequently Asked Questions

Can I hold both PEO and EIPI in my portfolio?

PEO and EIPI have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PEO or EIPI?

PEO has higher volatility (5.37%) compared to EIPI (3.22%). In terms of maximum drawdown, PEO dropped -71.88% vs EIPI's -12.33%.

Which has better risk-adjusted returns?

EIPI currently has the higher Sharpe Ratio (2.01 vs 1.19), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.