VDE vs. MLPI

Last updated Jun 24, 2026

VDE (Vanguard Energy ETF) and MLPI (NEOS MLP & Energy Infrastructure High Income ETF) are both exchange-traded funds - VDE is a Energy Equities fund tracking the MSCI US Investable Market Energy 25/50 Index, while MLPI is a MLPs fund actively managed by NEOS. VDE is passively managed, while MLPI is actively managed. A 0.69 correlation means they provide meaningful diversification when combined. VDE charges 0.09%/yr vs 0.68%/yr for MLPI.

Performance

VDE vs. MLPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Energy ETF (VDE) 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, VDE achieves a 23.55% return, which is significantly higher than MLPI's 19.61% return.

VDE

• 1D: 0.60%
• 1M: -7.94%
• YTD: 23.55%
• 6M: 24.06%
• 1Y: 31.01%
• 3Y*: 16.13%
• 5Y*: 18.74%
• 10Y*: 8.90%

MLPI

• 1D: 1.09%
• 1M: -2.18%
• YTD: 19.61%
• 6M: 18.17%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VDE vs. MLPI - Yearly Performance Comparison

	2026 (YTD)	2025
VDE Vanguard Energy ETF	23.55%	0.83%
MLPI NEOS MLP & Energy Infrastructure High Income ETF	19.61%	0.36%

Correlation

The correlation between VDE and MLPI is 0.69, 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 Dec 18, 2025	0.69

Return for Risk

VDE vs. MLPI — Risk / Return Rank

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

VDE

VDE Risk / Return Rank: 43
VDE Sharpe Ratio Rank: 45
VDE Sortino Ratio Rank: 41
VDE Omega Ratio Rank: 40
VDE Calmar Ratio Rank: 45
VDE Martin Ratio Rank: 43

MLPI

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

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.

VDE vs. MLPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Energy ETF (VDE) 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.

	VDE	MLPI	Difference
Sharpe ratio: Return per unit of total volatility	1.51	—	—
Sortino ratio: Return per unit of downside risk	2.04	—	—
Omega ratio: Gain probability vs. loss probability	1.25	—	—
Calmar ratio: Return relative to maximum drawdown	2.19	—	—
Martin ratio: Return relative to average drawdown	6.75	—	—

Drawdowns

VDE vs. MLPI - Drawdown Comparison

The maximum VDE drawdown since its inception was -74.20%, which is greater than MLPI's maximum drawdown of -5.38%. Use the drawdown chart below to compare losses from any high point for VDE and MLPI.

Drawdown Indicators

	VDE	MLPI	Difference
Max Drawdown Largest peak-to-trough decline	-74.20%	-5.38%	-68.82%
Max Drawdown (1Y) Largest decline over 1 year	-14.20%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-21.41%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-26.58%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-69.29%	—	—
Current Drawdown Current decline from peak	-12.59%	-2.18%	-10.41%
Average Drawdown Average peak-to-trough decline	-19.94%	-1.49%	-18.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.61%	—	—

Volatility

Volatility by Period

	VDE	MLPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.06%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.61%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.80%	13.05%	+7.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.37%	13.05%	+13.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.94%	13.05%	+16.89%

VDE vs. MLPI - Expense Ratio Comparison

VDE has a 0.09% expense ratio, which is lower than MLPI's 0.68% expense ratio.

Dividends

VDE vs. MLPI - Dividend Comparison

VDE's dividend yield for the trailing twelve months is around 2.54%, less than MLPI's 7.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLPI NEOS MLP & Energy Infrastructure High Income ETF	7.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VDE Vanguard Energy ETF	2.54%	3.11%	3.23%	3.34%	3.65%	4.13%	4.76%	3.42%	3.35%	2.90%	2.31%	3.17%

Frequently Asked Questions

Can I hold both VDE and MLPI in my portfolio?

VDE and MLPI have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VDE or MLPI?

On fees, VDE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VDE or MLPI?

VDE is cheaper with a 0.09% expense ratio, compared with 0.68% for MLPI.

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

MLPI has the higher dividend yield at 7.19%, compared with 2.54% for VDE.

What is the main difference between VDE and MLPI?

VDE is categorized as Energy Equities, while MLPI is MLPs. They also come from different issuers: Vanguard and NEOS. Their fees differ too: 0.09% for VDE and 0.68% for MLPI.