SOXY vs. MLPI

Last updated Aug 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 Infrastructure Equities fund actively managed by Neos. Both are actively managed. Their -0.09 correlation means they have often moved in opposite directions in the past. SOXY charges 1.06%/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 59.66% return, which is significantly higher than MLPI's 17.83% return.

SOXY

• 1D: 0.84%
• 1M: -11.28%
• 6M: 41.13%
• YTD: 59.66%
• 1Y: 95.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 59.08%

MLPI

• 1D: -0.28%
• 1M: -0.32%
• 6M: 11.98%
• YTD: 17.83%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MLPI NEOS MLP & Energy Infrastructure High Income ETF	$22.33M	$21.99M	$19.61M
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	$2.13M	$2.40M	$2.09M

SOXY vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	59.66%	6.03%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	17.83%	0.36%

Correlation

The correlation between SOXY and MLPI is -0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025	-0.09

Return for Risk

SOXY vs. MLPI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SOXY

SOXY Risk / Return Rank: 87
SOXY Sharpe Ratio Rank: 92
SOXY Sortino Ratio Rank: 84
SOXY Omega Ratio Rank: 85
SOXY Calmar Ratio Rank: 85
SOXY Martin Ratio Rank: 90

MLPI

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

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.

	SOXY	MLPI	Difference
Sharpe ratio: Return per unit of total volatility	2.41	—	—
Sortino ratio: Return per unit of downside risk	2.81	—	—
Omega ratio: Gain probability vs. loss probability	1.38	—	—
Calmar ratio: Return relative to maximum drawdown	3.35	—	—
Martin ratio: Return relative to average drawdown	14.82	—	—

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	-28.56%	—	—
Current Drawdown Current decline from peak	-21.05%	-3.63%	-17.42%
Average Drawdown Average peak-to-trough decline	-5.53%	-1.65%	-3.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.45%	—	—

Volatility

Volatility by Period

	SOXY	MLPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.94%	—	—
Volatility (6M) Calculated over the trailing 6-month period	35.55%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	39.88%	13.28%	+26.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.26%	13.28%	+25.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.26%	13.28%	+25.98%

SOXY vs. MLPI - Expense Ratio Comparison

SOXY has a 1.06% 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 9.34%, more than MLPI's 8.65% yield.

Position	TTM	2025
MLPI NEOS MLP & Energy Infrastructure High Income ETF	8.65%	0.00%
SOXY YieldMax Target 12™ Semiconductor Option Income ETF	9.34%	11.47%

Frequently Asked Questions

Can I hold both SOXY and MLPI in my portfolio?

SOXY and MLPI have a correlation of -0.09, 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 1.06% for SOXY.

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

SOXY has the higher dividend yield at 9.34%, compared with 8.65% for MLPI.

What is the main difference between SOXY and MLPI?

SOXY is categorized as Derivative Income, while MLPI is Infrastructure Equities. They also come from different issuers: YieldMax and Neos. Their fees differ too: 1.06% for SOXY and 0.68% for MLPI.