MLPI vs VYM
NEOS MLP & Energy Infrastructure High Income ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. VYM offers more diversification with 558 holdings.
Side-by-Side Comparison
| Metric | MLPI | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.68% | 0.04% | |
| AUM | $813M | $79.0B | |
| Dividend Yield | 8.49% | 2.86% | |
| Holdings | 27 | 568 | |
| YTD Return | +6.53% | +16.10% | |
| 1Y Return | +8.03% | +25.99% | |
| 3Y Return (annualized) | - | +18.29% | |
| 5Y Return (annualized) | - | +12.35% | |
| Volatility (annualized) | 111.3% | 14.6% | |
| Max Drawdown | -81.4% | -58.8% | |
| Fund Family | NEOS | Vanguard (US) | |
| Category | Alternative | Equity | |
| Inception | Dec 18, 2025 | Nov 10, 2006 |
MLPI vs VYM Performance
NEOS MLP & Energy Infrastructure High Income ETF (MLPI) is a ETF from NEOS and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year MLPI returned +8.03% while VYM returned +25.99%. Year to date, MLPI is up 6.53% versus a gain of 16.10% for VYM.
Risk: Volatility and Drawdowns
MLPI has been the more volatile fund, with annualized monthly volatility of 111.3% compared with 14.6% for VYM. 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 -58.8% for VYM. 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
MLPI charges 0.68% per year while VYM charges 0.04%. On a $10,000 position that is $68 vs $4 annually, a gap of $64 per year that compounds over a long holding period. On income, MLPI currently yields 8.49% against 2.86% for VYM.
Holdings Overlap
MLPI and VYM share 6 holdings out of 576 unique holdings combined, representing a 1.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, MLPI or VYM?
MLPI has an expense ratio of 0.68% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $64 per year of difference.
Which performed better, MLPI or VYM?
Over the past year MLPI returned +8.03% vs +25.99% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (16 years), MLPI annualized +8.40% vs +7.08% for VYM. Past performance does not guarantee future results.
Which is riskier, MLPI or VYM?
MLPI has been the more volatile fund at 111.3% annualized versus 14.6% for VYM. Worst drawdown: MLPI -81.4% vs VYM -58.8%.
Should I hold both MLPI and VYM?
MLPI and VYM 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 MLPI and VYM?
MLPI and VYM share 6 common holdings with a 1.2% weight overlap. Combined, they hold 576 unique securities.
Which pays a higher dividend, MLPI or VYM?
MLPI yields 8.49% while VYM yields 2.86%, so MLPI currently pays the higher dividend yield.
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