XES vs. MLPI
XES (SPDR S&P Oil & Gas Equipment & Services ETF) and MLPI (NEOS MLP & Energy Infrastructure High Income ETF) are both exchange-traded funds - XES is a Energy Equities fund tracking the S&P Oil & Gas Equipment & Services Select Industry Index, while MLPI is a Infrastructure Equities fund actively managed by Neos. XES is passively managed, while MLPI is actively managed. Their 0.48 correlation means their historical movements had little consistent relationship. XES charges 0.35%/yr vs 0.68%/yr for MLPI.
Performance
XES vs. MLPI - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XES achieves a 36.38% return, which is significantly higher than MLPI's 18.15% return.
XES
- 1D
- 3.09%
- 1M
- 4.23%
- 6M
- 12.93%
- YTD
- 36.38%
- 1Y
- 76.64%
- 3Y*
- 7.20%
- 5Y*
- 17.17%
- 10Y*
- -2.88%
- ALL TIME*
- -3.56%
MLPI
- 1D
- -0.07%
- 1M
- -0.05%
- 6M
- 11.52%
- YTD
- 18.15%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $23.44M | $21.53M | $19.40M | |
| $5.46M | $8.52M | $12.51M |
XES vs. MLPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
XES SPDR S&P Oil & Gas Equipment & Services ETF | 36.38% | 2.70% |
MLPI NEOS MLP & Energy Infrastructure High Income ETF | 18.15% | 0.36% |
Correlation
The correlation between XES and MLPI is 0.48, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 18, 2025 | 0.48 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
XES vs. MLPI — Risk / Return Rank
XES
MLPI
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
XES vs. MLPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Oil & Gas Equipment & Services ETF (XES) 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.
| XES | MLPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.35 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.23 | — | — |
| Martin ratioReturn relative to average drawdown | 10.31 | — | — |
Loading charts...
Drawdowns
XES vs. MLPI - Drawdown Comparison
The maximum XES drawdown since its inception was -95.65%, which is greater than MLPI's maximum drawdown of -5.38%. Use the drawdown chart below to compare losses from any high point for XES and MLPI.
Loading charts...
Drawdown Indicators
| XES | MLPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.65% | -5.38% | -90.27% |
Max Drawdown (1Y)Largest decline over 1 year | -21.48% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -45.95% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -45.95% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -91.23% | — | — |
Current DrawdownCurrent decline from peak | -73.66% | -3.36% | -70.30% |
Average DrawdownAverage peak-to-trough decline | -54.50% | -1.63% | -52.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.73% | — | — |
Volatility
XES vs. MLPI - Volatility Comparison
Loading charts...
Volatility by Period
| XES | MLPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.34% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 21.60% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 30.74% | 13.31% | +17.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.63% | 13.31% | +25.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 44.85% | 13.31% | +31.54% |
XES vs. MLPI - Expense Ratio Comparison
XES has a 0.35% expense ratio, which is lower than MLPI's 0.68% expense ratio.
Dividends
XES vs. MLPI - Dividend Comparison
XES's dividend yield for the trailing twelve months is around 1.17%, less than MLPI's 8.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MLPI NEOS MLP & Energy Infrastructure High Income ETF | 8.63% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
XES SPDR S&P Oil & Gas Equipment & Services ETF | 1.17% | 1.69% | 1.31% | 0.66% | 0.36% | 1.81% | 1.33% | 1.43% | 1.14% | 1.68% | 0.64% | 2.47% |
Frequently Asked Questions
XES and MLPI have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XES is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XES is cheaper with a 0.35% expense ratio, compared with 0.68% for MLPI.
MLPI has the higher dividend yield at 8.63%, compared with 1.17% for XES.
XES is categorized as Energy Equities, while MLPI is Infrastructure Equities. They also come from different issuers: State Street and Neos. Their fees differ too: 0.35% for XES and 0.68% for MLPI.
Find the right allocation for XES and MLPI
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer