IVV vs MLPI
iShares Core S&P 500 ETF vs NEOS MLP & Energy Infrastructure High Income ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | MLPI | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.68% | |
| AUM | $865.2B | $813M | |
| Dividend Yield | 1.09% | 8.49% | |
| Holdings | 508 | 27 | |
| YTD Return | +13.80% | +6.53% | |
| 1Y Return | +23.01% | +8.03% | |
| 3Y Return (annualized) | +21.77% | - | |
| 5Y Return (annualized) | +13.39% | - | |
| Volatility (annualized) | 15.1% | 111.3% | |
| Max Drawdown | -56.5% | -81.4% | |
| Fund Family | iShares by BlackRock (US) | NEOS | |
| Category | Equity | Alternative | |
| Inception | May 15, 2000 | Dec 18, 2025 |
IVV vs MLPI Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and NEOS MLP & Energy Infrastructure High Income ETF (MLPI) is a ETF from NEOS. Over the past year IVV returned +23.01% while MLPI returned +8.03%. Year to date, IVV is up 13.80% versus a gain of 6.53% for MLPI.
Risk: Volatility and Drawdowns
MLPI has been the more volatile fund, with annualized monthly volatility of 111.3% compared with 15.1% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.5% for IVV and -81.4% for MLPI. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.13. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
IVV charges 0.03% per year while MLPI charges 0.68%. On a $10,000 position that is $3 vs $68 annually, a gap of $65 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 8.49% for MLPI.
Holdings Overlap
IVV and MLPI share 4 holdings out of 525 unique holdings combined, representing a 0.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, IVV or MLPI?
IVV has an expense ratio of 0.03% while MLPI charges 0.68%. IVV is the cheaper option. On a $10,000 investment, that is $65 per year of difference.
Which performed better, IVV or MLPI?
Over the past year IVV returned +23.01% vs +8.03% for MLPI, so IVV leads on 1-year performance. Over the longest common window we track (16 years), IVV annualized +7.04% vs +8.40% for MLPI. Past performance does not guarantee future results.
Which is riskier, IVV or MLPI?
MLPI has been the more volatile fund at 111.3% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs MLPI -81.4%.
Should I hold both IVV and MLPI?
IVV and MLPI have a monthly-return correlation of 0.13, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between IVV and MLPI?
IVV and MLPI share 4 common holdings with a 0.4% weight overlap. Combined, they hold 525 unique securities.
Which pays a higher dividend, IVV or MLPI?
IVV yields 1.09% while MLPI yields 8.49%, so MLPI currently pays the higher dividend yield.
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