MLPI vs VOO
NEOS MLP & Energy Infrastructure High Income ETF vs Vanguard S&P 500 ETF
Which is better, MLPI or VOO?
Option Writing against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y and the full window. VOO is less concentrated, with 37.6% 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 | VOO |
|---|---|---|
| Expense Ratio | 0.68% | 0.03%Best |
| AUM | $936M | $997.4B |
| Dividend Yield | 10.92% | 1.04% |
| Holdings | 27 | 509 |
| YTD Return | +4.35% | +14.14%Best |
| 1Y Return | +5.82% | +17.31%Best |
| 3Y Return (annualized) | - | +23.16% |
| 5Y Return (annualized) | - | +13.85% |
| Volatility (annualized) | 113.0% | 14.1%Best |
| Max Drawdown | -81.4% | -34.3%Best |
| $10,000 over 16 years | $33,012 | $75,739Best |
| Top 10 Weight | 62.8% | 37.6%Best |
| Fund Family | NEOS | Vanguard (US) |
| Category | Alternative | Equity |
| Style | Option Writing | Large Cap Blend |
| Inception | Dec 18, 2025 | Sep 7, 2010 |
Volatility and max drawdown, and the $10,000 over 16 years row, are measured over the window both funds cover: Sep 9, 2010 to Sep 21, 2026 (16 years).
MLPI vs VOO 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 years both funds cover.
MLPI vs VOO Performance
NEOS MLP & Energy Infrastructure High Income ETF (MLPI) is an ETF from NEOS and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year MLPI returned +5.82% while VOO returned +17.31%. Year to date, MLPI is up 4.35% versus a gain of 14.14% for VOO.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MLPI has been the more volatile fund, with annualized monthly volatility of 113.0% compared with 14.1% for VOO. 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 -34.3% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.13. They move largely independently of each other.
Fees and Cost Over Time
MLPI charges 0.68% per year while VOO charges 0.03%. On a $10,000 position that is $68 vs $3 annually, a gap of $65 per year that compounds over a long holding period. On income, MLPI currently yields 10.92% against 1.04% for VOO.
Holdings Overlap
27.7% of MLPI's money is in holdings VOO also owns. 0.4% of VOO's money is in holdings MLPI also owns.
MLPI and VOO share little of their money.
4 positions in common, counted across the 24 positions we hold weights for in MLPI and 494 in VOO, against full books of 27 and 509.
What only one of them owns
Our book lists 483 positions for VOO that do not appear in our book for MLPI (98.7% of the fund), and 16 for MLPI that do not appear in VOO (50.0%).
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.
27.7% of MLPI is already inside VOO.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, MLPI or VOO?
MLPI has an expense ratio of 0.68% while VOO charges 0.03%. VOO is the cheaper option, by $65 a year on a $10,000 investment.
Which performed better, MLPI or VOO?
Over the past year MLPI returned +5.82% vs +17.31% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), MLPI annualized +7.75% vs +13.49% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MLPI or VOO?
MLPI has been the more volatile fund at 113.0% annualized versus 14.1% for VOO. Worst drawdown: MLPI -81.4% vs VOO -34.3%.
Should I hold both MLPI and VOO?
MLPI and VOO have a monthly-return correlation of 0.13, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between MLPI and VOO?
27.7% of MLPI's money is in holdings VOO also owns. 0.4% of VOO's is in holdings MLPI also owns. They hold 4 positions in common, counted across the 24 positions we hold weights for in MLPI and 494 in VOO.
Which pays a higher dividend, MLPI or VOO?
MLPI yields 10.92% while VOO yields 1.04%, so MLPI currently pays the higher dividend yield.
Is VOO better than MLPI?
VOO has a lower expense ratio. VOO led over 1Y and the full window. VOO is less concentrated, with 37.6% 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.