SOXY vs. MLPI

Last updated Jun 4, 2026

SOXY (YieldMax Target 12™ Semiconductor Option Income ETF) and MLPI (Neos MLP & Energy Infrastructure High Income ETF) are both exchange-traded funds - SOXY is a Derivative Income fund actively managed by YieldMax, while MLPI is a Energy Equities fund actively managed by Neos. Both are actively managed. At a correlation of -0.05, they often move in opposite directions. SOXY charges 0.99%/yr vs 0.68%/yr for MLPI.

Performance

SOXY vs. MLPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax Target 12™ Semiconductor Option Income ETF (SOXY) 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, SOXY achieves a 89.69% return, which is significantly higher than MLPI's 17.58% return.

SOXY

• 1D: 0.87%
• 1M: 31.46%
• YTD: 89.69%
• 6M: 88.39%
• 1Y: 154.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MLPI

• 1D: 0.04%
• 1M: -3.13%
• YTD: 17.58%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SOXY vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	89.69%	3.60%
MLPI Neos MLP & Energy Infrastructure High Income ETF	17.58%	0.56%

Correlation

The correlation between SOXY and MLPI is -0.05, 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	-0.05

Return for Risk

SOXY vs. MLPI — Risk / Return Rank

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

SOXY

SOXY Risk / Return Rank: 96
SOXY Sharpe Ratio Rank: 98
SOXY Sortino Ratio Rank: 96
SOXY Omega Ratio Rank: 95
SOXY Calmar Ratio Rank: 97
SOXY Martin Ratio Rank: 97

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.

SOXY vs. MLPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax Target 12™ Semiconductor Option Income ETF (SOXY) 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.

	SOXY	MLPI	Difference
Sharpe ratio: Return per unit of total volatility	5.32	—	—
Sortino ratio: Return per unit of downside risk	5.53	—	—
Omega ratio: Gain probability vs. loss probability	1.75	—	—
Calmar ratio: Return relative to maximum drawdown	11.33	—	—
Martin ratio: Return relative to average drawdown	42.65	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	SOXY	MLPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.32	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.57	3.49	-0.91

Drawdowns

SOXY vs. MLPI - Drawdown Comparison

The maximum SOXY drawdown since its inception was -30.22%, which is greater than MLPI's maximum drawdown of -5.38%. Use the drawdown chart below to compare losses from any high point for SOXY and MLPI.

Drawdown Indicators

	SOXY	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	-30.22%	-5.38%	-24.84%
Max Drawdown (1Y) Largest decline over 1 year	-13.68%	—	—
Current Drawdown Current decline from peak	0.00%	-3.84%	+3.84%
Average Drawdown Average peak-to-trough decline	-4.94%	-1.27%	-3.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	—	—

Volatility

Volatility by Period

	SOXY	MLPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.85%	—	—
Volatility (6M) Calculated over the trailing 6-month period	24.06%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	29.20%	13.05%	+16.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.56%	13.05%	+21.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.56%	13.05%	+21.51%

SOXY vs. MLPI - Expense Ratio Comparison

SOXY has a 0.99% expense ratio, which is higher than MLPI's 0.68% expense ratio.

Dividends

SOXY vs. MLPI - Dividend Comparison

SOXY's dividend yield for the trailing twelve months is around 7.74%, more than MLPI's 6.04% yield.

Position	TTM	2025
MLPI Neos MLP & Energy Infrastructure High Income ETF	6.04%	0.00%
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	7.74%	11.47%

Frequently Asked Questions

Can I hold both SOXY and MLPI in my portfolio?

SOXY and MLPI have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SOXY 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, SOXY or MLPI?

MLPI is cheaper with a 0.68% expense ratio, compared with 0.99% for SOXY.

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

SOXY has the higher dividend yield at 7.74%, compared with 6.04% for MLPI.

What is the main difference between SOXY and MLPI?

SOXY is categorized as Derivative Income, while MLPI is Energy Equities. They also come from different issuers: YieldMax and Neos. Their fees differ too: 0.99% for SOXY and 0.68% for MLPI.