SPYI vs. MLPI

Last updated Apr 2, 2026

Compare and contrast key facts about NEOS S&P 500 High Income ETF (SPYI) and Neos MLP & Energy Infrastructure High Income ETF (MLPI).

SPYI and MLPI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPYI is an actively managed fund by Neos. It was launched on Aug 29, 2022. MLPI is an actively managed fund by Neos. It was launched on Dec 17, 2025.

Performance

SPYI vs. MLPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS S&P 500 High Income ETF (SPYI) and Neos MLP & Energy Infrastructure High Income ETF (MLPI). The values are adjusted to include any dividend payments, if applicable.

SPYI vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
SPYI NEOS S&P 500 High Income ETF	-2.59%	1.22%
MLPI Neos MLP & Energy Infrastructure High Income ETF	15.32%	0.56%

Returns By Period

In the year-to-date period, SPYI achieves a -2.59% return, which is significantly lower than MLPI's 15.32% return.

SPYI

• 1D: 0.56%
• 1M: -3.70%
• YTD: -2.59%
• 6M: 0.63%
• 1Y: 16.76%
• 3Y*: 14.46%
• 5Y*: —
• 10Y*: —

MLPI

• 1D: -1.66%
• 1M: -0.34%
• YTD: 15.32%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPYI vs. MLPI - Expense Ratio Comparison

Both SPYI and MLPI have an expense ratio of 0.68%.

SPYI

NEOS S&P 500 High Income ETF

MLPI

Neos MLP & Energy Infrastructure High Income ETF

Return for Risk

SPYI vs. MLPI — Risk / Return Rank

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

SPYI

SPYI Risk / Return Rank: 63
SPYI Sharpe Ratio Rank: 56
SPYI Sortino Ratio Rank: 59
SPYI Omega Ratio Rank: 69
SPYI Calmar Ratio Rank: 58
SPYI Martin Ratio Rank: 74

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.

SPYI vs. MLPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS S&P 500 High Income ETF (SPYI) 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.

	SPYI	MLPI	Difference
Sharpe ratio Return per unit of total volatility	1.04	—	—
Sortino ratio Return per unit of downside risk	1.57	—	—
Omega ratio Gain probability vs. loss probability	1.26	—	—
Calmar ratio Return relative to maximum drawdown	1.54	—	—
Martin ratio Return relative to average drawdown	8.06	—	—
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

	SPYI	MLPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	6.11	-5.10

Correlation

The correlation between SPYI and MLPI is 0.01, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

SPYI vs. MLPI - Dividend Comparison

SPYI's dividend yield for the trailing twelve months is around 12.43%, more than MLPI's 3.55% yield.

	TTM	2025	2024	2023	2022
SPYI NEOS S&P 500 High Income ETF	12.43%	11.70%	12.04%	12.01%	4.10%
MLPI Neos MLP & Energy Infrastructure High Income ETF	3.55%	0.00%	0.00%	0.00%	0.00%

Drawdowns

SPYI vs. MLPI - Drawdown Comparison

The maximum SPYI drawdown since its inception was -16.47%, which is greater than MLPI's maximum drawdown of -2.83%. Use the drawdown chart below to compare losses from any high point for SPYI and MLPI.

Drawdown Indicators

	SPYI	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	-16.47%	-2.83%	-13.64%
Max Drawdown (1Y) Largest decline over 1 year	-11.02%	—	—
Current Drawdown Current decline from peak	-4.50%	-2.83%	-1.67%
Average Drawdown Average peak-to-trough decline	-1.86%	-0.63%	-1.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	—	—

Volatility

Volatility by Period

	SPYI	MLPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.10%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.29%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.22%	11.61%	+4.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.12%	11.61%	+1.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.12%	11.61%	+1.51%