Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
MLPD has lagged MLPI over the year to date, posting a 7.84% total return against 17.04%. MLPD has been the steadier holding, though — annualized volatility of 8.1% against 13.7% for MLPI. Figures are total returns: price change plus every distribution reinvested.
Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 19, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Dec 2025” measures every fund from December 18, 2025 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the shared window since Dec 2025. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the shared window since Dec 2025) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.
Side-by-side snapshot
Side-by-side snapshot. Each row is one metric;
each column is one fund.
Global X MLP & Energy Infrastructure Covered Call ETF
NEOS MLP & Energy Infrastructure High Income ETF
Issuer
Global X
NEOS
Last Close
$25.36 as of August 19, 2026
$55.65 as of August 19, 2026
Distribution yield
11.88%
13.80%
Distribution Safety Score™
95
79
Expense ratio
0.60%
0.68%
AUM
$31.6M
$46.4M
Distribution frequency
Monthly
Monthly
Underlying index
Master Limited Partnerships
Master limited partnerships
Objective
Seeks monthly income and energy infrastructure exposure by investing at least 80% of net assets in the constituents of an index of master limited partnerships and energy infrastructure companies.
Seeks to deliver high monthly income with exposure to master limited partnerships through an overlay strategy.
Asset class
Equity
Equity
Inception date
04/07/2010
12/18/2025
Last dividend
$0.2510
$0.6402
Ex-dividend date
07/20/2026
08/19/2026
Bottom lineChoose MLPD if you are comfortable trading away most upside for a large, steady payout. Choose MLPI if you want to maximize current income — roughly 13.80%, generated by selling options premium.
MLPD vs MLPI: two ways to take MLP income
Both funds seek cash flow from midstream and energy-infrastructure names. MLPD is Global X's covered-call wrapper. MLPI is NEOS's high-income overlay. Issuer, option rules, and tax character should drive the choice, not yield alone.
MLPD
MLPI
Issuer
Global X
NEOS
What it owns
MLP and energy-infrastructure equities
MLP and energy-infrastructure equities
Income design
Covered-call overlay
NEOS high-income options overlay
Distribution yield
11.88%
13.80%
Expense ratio
0.60%
0.68%
Better fit for
A systematic buy-write on midstream names
A NEOS-style overlay and higher current distribution
How the risk works
Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.
Capped upside and premium dependence. MLPD and MLPI generate income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Global X is known for developing thematic and alternative investment ETFs with a strong emphasis on income-generating strategies. Their 37-fund lineup spans diverse categories including covered call funds, SuperDividend income products, digital assets, commodities, and sector-specific investments, alongside traditional bond and risk-managed income options. Notable tickers like DIV, MLPA, and BCCC reflect their specialization in high-yield and alternative income strategies, positioning them as a provider focused on investors seeking yield-oriented and thematically-driven exposure.
See our curated list of related YouTube videos on MLPD.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
NEOS is known for developing specialized income-focused ETFs that employ strategies like covered calls, hedging, and enhanced yields across various asset classes. The firm manages 19 funds organized into nine distinct families, including offerings in equity high income, fixed income enhancement, digital assets, and alternative strategies, with popular tickers like SPYI (S&P 500 covered call), QQQI (Nasdaq-100 covered call), and QQQH (Nasdaq-100 hedged equity income). NEOS distinguishes itself in the ETF landscape through its emphasis on income generation and downside protection strategies rather than traditional growth approaches.
See our curated list of related YouTube videos on MLPI.
MLPD (Global X MLP & Energy Infrastructure Covered Call ETF) and MLPI (NEOS MLP & Energy Infrastructure High Income ETF) are both monthly-pay dividend ETFs, but they take different approaches.
MLPI offers the higher yield at 13.80% vs 11.88% for MLPD. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
MLPD is cheaper with an expense ratio of 0.60% compared to 0.68%.
They track different benchmarks: MLPD is linked to Master Limited Partnerships while MLPI tracks Master limited partnerships, which means their performance drivers differ.
MLPI is the larger fund by assets ($46.4M), which generally means tighter spreads and better liquidity.
Who should choose each?
Choose MLPD
Global X MLP & Energy Infrastructure Covered Call ETF
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Want to keep costs low — a 0.60% expense ratio vs 0.68% for MLPI.
Choose MLPI
NEOS MLP & Energy Infrastructure High Income ETF
Want to maximize current income — MLPI distributes roughly 13.80% from selling options premium, vs 11.88% for MLPD.
Are comfortable with an options-income strategy — a large payout in exchange for capped upside.
Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.
Still deciding? Track MLPD & MLPI for free
Create a free Dividend Vision account to keep them on a watchlist, get notified when they declare dividends, and see how much income they would add to your portfolio.
On a $10,000 investment, MLPD would generate roughly $99.00/month, while MLPI would produce $115.00/month, at current distribution rates. Both pay monthly distributions.
MLPD yield11.88%
MLPI yield13.80%
Monthly diff on $10K$16.00
Cost & efficiency
Over 10 years on $10,000, MLPD would cost approximately $600 in fees vs $680 for MLPI (simplified, not compounded). The $80.00 difference may be offset by yield or performance.
MLPD ER0.60%
MLPI ER0.68%
Strategy & risk
MLPD tracks Master Limited Partnerships, while MLPI tracks Master limited partnerships with an options approach.
Fund details
MLPD is managed by Global X (launched 04/07/2010) with $31.6M in assets. MLPI is managed by NEOS (launched 12/18/2025) with $46.4M in assets.
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Frequently asked questions
What is the difference between MLPD and MLPI?
Both target income from midstream / MLP equities, with different overlays. MLPD (Global X MLP & Energy Infrastructure Covered Call ETF) is Global X's covered-call approach. MLPI (NEOS MLP & Energy Infrastructure High Income ETF) is NEOS's high-income overlay on a similar energy-infrastructure book. As of August 2026 they distribute 11.88% and 13.80% at 0.60% and 0.68%. The yield gap is not the whole decision — compare option coverage, tax character, NAV trend, and total return. Neither is universally better.
What is the current distribution yield for MLPD and MLPI?
MLPD currently distributes 11.88% and MLPI 13.80%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.
Is MLPD or MLPI better for dividend income?
It depends on your goals. MLPI currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
Can I hold both MLPD and MLPI?
Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.
Is MLPD or MLPI safer?
By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — MLPD scores 95, MLPI scores 79, so MLPD's payout currently looks the more resilient of the two. No score makes an investment risk-free — treat this as a screening signal, not a guarantee, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.
Which has lower fees, MLPD or MLPI?
MLPD has an expense ratio of 0.60% while MLPI charges 0.68%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in MLPD vs MLPI generate?
At current rates, $10,000 in MLPD would generate roughly $99.00 per month ($1,188.00 annually). The same in MLPI would produce about $115.00 per month ($1,380.00 annually).
Which has performed better historically, MLPD or MLPI?
MLPD has lagged MLPI over the year to date, posting a 7.84% total return against 17.04%. MLPD has been the steadier holding, though — annualized volatility of 8.1% against 13.7% for MLPI. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
Explore related screeners
Lateral filters that include these funds — browse the full peer set on DividendVision.
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