A head-to-head comparison of Energy Select Sector SPDR Premium Income ETF and NEOS MLP High Income ETF covering yield, cost, risk, and income potential.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
State Street Global Advisors (SSGA) is one of the largest ETF providers globally, known for its flagship SPDR suite of exchange-traded products that serve both institutional and retail investors across a broad range of asset classes. Their 88-fund lineup spans diverse strategies including sector exposure (Select Sector SPDR), income generation (Income and Select Sector SPDR Premium Income families), commodities (including the widely-held GLD gold ETF), bonds, ESG-focused investments, and thematic allocations, with popular tickers like DIA (Diamonds Trust), FEZ (Eurozone exposure), and JNK (high-yield bonds) among their most recognized funds. The issuer is characterized by its comprehensive coverage across multiple market segments and its emphasis on both traditional index-based products and specialized strategies like covered call income funds and factor-based investing.
See our curated list of related YouTube videos on XLEI.
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.
Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of June 16, 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.
Quick verdict
XLEI (Energy Select Sector SPDR Premium Income ETF) and MLPI (NEOS MLP High Income ETF) are both monthly-pay dividend ETFs, but they take different approaches.
XLEI offers the higher yield at 20.32% vs 14.76% for MLPI. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
XLEI is cheaper with an expense ratio of 0.35% compared to 0.68%.
They track different benchmarks: XLEI is linked to Energy Select Sector SPDR Fund (XLE) 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.
Deep dive
Yield & income
On a $10,000 investment, XLEI would generate roughly $169.33/month, while MLPI would produce $123.00/month, at current distribution rates. Both pay monthly distributions.
XLEI yield20.32%
MLPI yield14.76%
Monthly diff on $10K$46.33
Cost & efficiency
Over 10 years on $10,000, XLEI would cost approximately $350 in fees vs $680 for MLPI (simplified, not compounded). The $330.00 difference may be offset by yield or performance.
XLEI ER0.35%
MLPI ER0.68%
Strategy & risk
XLEI tracks Energy Select Sector SPDR Fund (XLE) with a covered call approach, while MLPI tracks Master limited partnerships with an options approach.
Fund details
XLEI is managed by State Street (launched 07/29/2025) with $34.4M in assets. MLPI is managed by NEOS (launched 12/18/2025) with $46.4M in assets.
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Frequently asked questions
Is XLEI or MLPI better for dividend income?
It depends on your goals. XLEI 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.
What is the difference between XLEI and MLPI?
XLEI (Energy Select Sector SPDR Premium Income ETF) tracks Energy Select Sector SPDR Fund (XLE) with a covered call approach, while MLPI (NEOS MLP High Income ETF) tracks Master limited partnerships with an options approach. They are issued by State Street and NEOS respectively.
Can I hold both XLEI and MLPI?
Yes. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.
Which has lower fees, XLEI or MLPI?
XLEI has an expense ratio of 0.35% 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 XLEI vs MLPI generate?
At current rates, $10,000 in XLEI would generate roughly $169.33 per month ($2,032.00 annually). The same in MLPI would produce about $123.00 per month ($1,476.00 annually).
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