MLPI vs QQQ
NEOS MLP & Energy Infrastructure High Income ETF vs Invesco QQQ Trust, Series 1
Which is better, MLPI or QQQ?
Option Writing against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. QQQ is less concentrated, with 46.5% of the fund in its ten largest positions against 62.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | MLPI | QQQ |
|---|---|---|
| Expense Ratio | 0.68% | 0.18%Best |
| AUM | $936M | $483.5B |
| Dividend Yield | 10.92% | 0.44% |
| Holdings | 27 | 107 |
| YTD Return | +3.17% | +22.20%Best |
| 1Y Return | +4.62% | +24.58%Best |
| 3Y Return (annualized) | - | +28.38% |
| 5Y Return (annualized) | - | +15.80% |
| Volatility (annualized) | 110.9% | 17.6%Best |
| Max Drawdown | -81.4% | -35.1%Best |
| $10,000 over 16.5 years | $36,317 | $160,943Best |
| Top 10 Weight | 62.8% | 46.5%Best |
| Fund Family | NEOS | Invesco (US) |
| Category | Alternative | Equity |
| Style | Option Writing | Large Cap Growth |
| Inception | Dec 18, 2025 | Mar 10, 1999 |
Volatility and max drawdown, and the $10,000 over 16.5 years row, are measured over the window both funds cover: Apr 1, 2010 to Sep 22, 2026 (16.5 years).
MLPI vs QQQ growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 16.5 years both funds cover.
MLPI vs QQQ Performance
NEOS MLP & Energy Infrastructure High Income ETF (MLPI) is an ETF from NEOS and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year MLPI returned +4.62% while QQQ returned +24.58%. Year to date, MLPI is up 3.17% versus a gain of 22.20% for QQQ.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MLPI has been the more volatile fund, with annualized monthly volatility of 110.9% compared with 17.6% for QQQ. 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 -81.4% for MLPI and -35.1% for QQQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.07. They move largely independently of each other.
Fees and Cost Over Time
MLPI charges 0.68% per year while QQQ charges 0.18%. On a $10,000 position that is $68 vs $18 annually, a gap of $50 per year that compounds over a long holding period. On income, MLPI currently yields 10.92% against 0.44% for QQQ.
Holdings Overlap
We hold position weights for 24 holdings in MLPI and 102 in QQQ, totalling 100.0% and 99.9% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 24 positions we hold weights for in MLPI and 102 in QQQ, against full books of 27 and 107.
What only one of them owns
Our book lists 96 positions for QQQ that do not appear in our book for MLPI (97.5% of the fund), and 20 for MLPI that do not appear in QQQ (77.6%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of MLPI and QQQ you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, MLPI or QQQ?
MLPI has an expense ratio of 0.68% while QQQ charges 0.18%. QQQ is the cheaper option, by $50 a year on a $10,000 investment.
Which performed better, MLPI or QQQ?
Over the past year MLPI returned +4.62% vs +24.58% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (17 years), MLPI annualized +8.13% vs +18.34% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MLPI or QQQ?
MLPI has been the more volatile fund at 110.9% annualized versus 17.6% for QQQ. Worst drawdown: MLPI -81.4% vs QQQ -35.1%.
Should I hold both MLPI and QQQ?
MLPI and QQQ have a monthly-return correlation of 0.07, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, MLPI or QQQ?
MLPI yields 10.92% while QQQ yields 0.44%, so MLPI currently pays the higher dividend yield.
Is QQQ better than MLPI?
QQQ has a lower expense ratio. QQQ led over 1Y and the full window. QQQ is less concentrated, with 46.5% of the fund in its ten largest positions against 62.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.