TEXX vs. MLPI

Last updated Jul 12, 2026

TEXX (Horizon Kinetics Texas ETF) and MLPI (NEOS MLP & Energy Infrastructure High Income ETF) are both exchange-traded funds - TEXX is a Energy Equities fund actively managed by Horizon Kinetics, while MLPI is a MLPs fund actively managed by NEOS. Both are actively managed. A 0.58 correlation means they provide meaningful diversification when combined. TEXX charges 0.85%/yr vs 0.68%/yr for MLPI.

Performance

TEXX vs. MLPI - Performance Comparison

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

Returns By Period

TEXX

• 1D: 0.11%
• 1M: -1.00%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MLPI

• 1D: -0.52%
• 1M: 0.82%
• 6M: 20.58%
• YTD: 19.13%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TEXX vs. MLPI - Yearly Performance Comparison

	2026 (YTD)
TEXX Horizon Kinetics Texas ETF	11.95%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	16.36%

Correlation

The correlation between TEXX and MLPI is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 22, 2026	0.58

Return for Risk

TEXX vs. MLPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Kinetics Texas ETF (TEXX) 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.

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

Drawdowns

TEXX vs. MLPI - Drawdown Comparison

The maximum TEXX drawdown since its inception was -5.86%, which is greater than MLPI's maximum drawdown of -5.38%. Use the drawdown chart below to compare losses from any high point for TEXX and MLPI.

Drawdown Indicators

	TEXX	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	-5.86%	-5.38%	-0.48%
Current Drawdown Current decline from peak	-3.40%	-2.56%	-0.84%
Average Drawdown Average peak-to-trough decline	-2.07%	-1.59%	-0.48%

Volatility

Volatility by Period

	TEXX	MLPI	Difference
Volatility (1Y) Calculated over the trailing 1-year period	16.18%	13.31%	+2.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.18%	13.31%	+2.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.18%	13.31%	+2.87%

TEXX vs. MLPI - Expense Ratio Comparison

TEXX has a 0.85% expense ratio, which is higher than MLPI's 0.68% expense ratio.

Dividends

TEXX vs. MLPI - Dividend Comparison

TEXX has not paid dividends to shareholders, while MLPI's dividend yield for the trailing twelve months is around 7.22%.

Position	TTM
MLPI NEOS MLP & Energy Infrastructure High Income ETF	7.22%
TEXX Horizon Kinetics Texas ETF	0.00%

Frequently Asked Questions

Can I hold both TEXX and MLPI in my portfolio?

TEXX and MLPI have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TEXX 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, TEXX or MLPI?

MLPI is cheaper with a 0.68% expense ratio, compared with 0.85% for TEXX.

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

MLPI has the higher dividend yield at 7.22%, compared with 0.00% for TEXX.

What is the main difference between TEXX and MLPI?

TEXX is categorized as Energy Equities, while MLPI is MLPs. They also come from different issuers: Horizon Kinetics and NEOS. Their fees differ too: 0.85% for TEXX and 0.68% for MLPI.