MLPI vs MLPX: Option Income or Infrastructure Index?
MLPI combines MLP and energy infrastructure holdings with call options. MLPX tracks the Solactive MLP & Energy Infrastructure Index. MLPX includes energy infrastructure corporations as well as MLP exposure; neither is simply direct ownership of a single partnership or a capital-preservation product.
Projections assume the current yield and share price remain constant. Actual results will vary.
Total returns
100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.
MLPI has lagged MLPX over the year to date, posting a 13.00% total return against 19.97%. MLPI has been the steadier holding, though — annualized volatility of 13.1% against 17.1% for MLPX. 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 (a modeling convention, not the cash-settlement date), split-adjusted, as of October 2, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Dec 2025” measures every fund from December 18, 2025 — the start of shared available history — 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.
Distribution rate and SEC yield
Metric
MLPI
MLPX
Forward distribution rate
14.72%
4.26%
Trailing 12-month yield
12.99%
4.31%
30-day SEC yield
3.47%
4.30%
Total return (price change plus reinvested distributions) is the Total returns section above. A 30-day SEC yield can sit far from the headline distribution rate; both numbers are the fund's own published fields.
Side-by-side snapshot
Side-by-side snapshot. Each row is one metric;
each column is one fund.
Bottom lineChoose MLPI if you want infrastructure equities with an option-income strategy. Choose MLPX if you want index-based infrastructure exposure without MLPI's income overlay. Distributions can change. Compare net total returns, holdings, and final tax reporting; a payout rate is not a return forecast or proof of capital preservation.
Infrastructure exposure with different portfolio rules
MLPI combines MLP and energy infrastructure holdings with call options. MLPX tracks the Solactive MLP & Energy Infrastructure Index. MLPX includes energy infrastructure corporations as well as MLP exposure; neither is simply direct ownership of a single partnership or a capital-preservation product.
MLPI
MLPX
Approach
MLP/infrastructure equities with call options
Solactive MLP & Energy Infrastructure Index
Risk review
Infrastructure equity losses, concentration, and option positioning
Infrastructure equity losses and index concentration
Expense ratio
0.68%
0.45%
Portfolio fit
Review combined holdings and weights
Review combined holdings and weights
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. MLPI generates 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.
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.
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 MLPX.
MLPI (NEOS MLP & Energy Infrastructure High Income ETF) and MLPX (Global X MLP & Energy Infrastructure ETF) are both dividend ETFs, but they take different approaches.
MLPI offers the higher yield at 14.72% vs 4.26% for MLPX. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
MLPX is cheaper with an expense ratio of 0.45% compared to 0.68%.
They have different reference exposures: MLPI is linked to Master limited partnerships while MLPX is linked to Solactive MLP & Energy Infrastructure Index, which means their performance drivers differ.
MLPX is the larger fund by assets ($3.46B), but assets alone do not establish trading costs or liquidity.
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On a $10,000 investment, MLPI would generate roughly $122.67 cash per distribution, while MLPX would produce $106.50 cash per distribution, at current distribution rates.
MLPI yield14.72%
MLPX yield4.26%
Cash diff on $10K$16.17
Cost & efficiency
Over 10 years on $10,000, MLPI would cost approximately $680 in fees vs $450 for MLPX (simplified, not compounded). The $230.00 difference may be offset by yield or performance.
MLPI ER0.68%
MLPX ER0.45%
Strategy & risk
MLPI combines MLP and energy infrastructure holdings with call options. MLPX tracks the Solactive MLP & Energy Infrastructure Index. MLPX includes energy infrastructure corporations as well as MLP exposure; neither is simply direct ownership of a single partnership or a capital-preservation product. Beta describes historical benchmark sensitivity, not guaranteed downside protection.
MLPI beta—
MLPX beta0.25
Fund details
MLPI is managed by NEOS (launched 12/18/2025) with $46.4M in assets. MLPX is managed by Global X (launched 08/07/2013) with $3.46B in assets.
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Frequently asked questions
Does MLPX's lower distribution make its principal predictable?
No. Index tracking does not protect against equity losses, regulation, financing costs, or sector weakness. MLPI adds option obligations and can forgo upside. Compare combined company weights and matching total-return periods. Both funds provide shareholder tax reporting distinct from directly holding MLP units; distribution character can vary by year.
How should I compare risk and ownership costs?
Use matching dates and definitions for returns, distributions, and fees. Beta describes historical benchmark sensitivity, not guaranteed downside protection. Check current bid-ask spreads and premiums or discounts; AUM alone does not determine the price available for your order.
Explore related screeners
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