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MLPIvsPIPEETF Comparison

ETF 1

MLPI

NEOS MLP & Energy Infrastructure High Income ETF

This fund is part of

Options Strategies

-0.04%

Full MLPI fund page

VS

ETF 2

PIPE

Invesco SteelPath MLP & Energy Infrastructure ETF

This fund is part of

Infrastructure

-0.03%

Full PIPE fund page

NEOS MLP & Energy Infrastructure High Income ETF (MLPI) belongs to the Options Strategies segment. Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE) is part of the Infrastructure segment. Both ETFs have the same top 3 sector exposures: and Energy. MLPI is less expensive with a Total Expense Ratio (TER) of 0.68%, versus 0.75% for PIPE. MLPI is up 15.42% year-to-date (YTD) with +$502M in YTD flows. PIPE performs better with 21.47% YTD performance, and -$209K in YTD flows. Run a side-by-side ETF comparison of MLPI and PIPE below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.

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MLPI vs PIPE performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 04/27/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	MLPI PIPE	-2.59%-3.77%	+10.93%+14.97%	+15.42%+21.47%	n/a+25.03%	n/an/a	n/an/a
Flows	MLPI PIPE	+$106M-	+$420M-$209K	+$502M-$209K	-+$36M	--	--

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	MLPI PIPE	+11.95%+14.12%	n/a+13.71%	n/an/a	n/an/a
Max drawdown	MLPI PIPE	-4.42%-5.89%	n/a-7.30%	n/an/a	n/an/a
Max drawdown duration	MLPI PIPE	32d32d	n/a109d	n/an/a	n/an/a

Trading data

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	MLPI	PIPE
Last sale 4/27/2026 at 1:30 PM		$28.86
Previous close 04/27/2026		$28.72
Consolidated volume 04/27/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Main metrics

Last update 4/27/2026 at 1:30 PM

Live

Closed

	MLPI	PIPE
Last price	–	$28.86
1D performance	–	+0.48%
AuM	$539.53 M	$60.27 M
E/R	0.68%	0.75%

Characteristics

	MLPI	PIPE
Management strategy	Active	Active
Provider	NEOS Investment Management	Invesco
Benchmark	-	-
N° of holdings	22	23
Asset class	-	-
Trailing 12m distribution yield	Join	Join
Inception date	December 18, 2025	February 20, 2025
ESG	No	No

More MLPI data on Trackinsight

More PIPE data on Trackinsight

Exposure

Countries

MLPI

USA

72.72%

Canada

23.96%

Other

3.32%

PIPE

USA

73.94%

Canada

26.06%

Other

0%

Sectors

MLPI

Energy

91.31%

Other

8.69%

PIPE

Energy

87.33%

Other

12.67%

Diversification

MLPI

Total weight of top 15 holdings out of 15

79.37%

PIPE

Total weight of top 15 holdings out of 15

75.72%

Top 15 holdings

Data as of March 31, 2026

MLPI

ENBRIDGE

9.43%

WILLIAMS

9.27%

TC ENERGY CORP

6.13%

KINDER MORGAN

5.96%

PEMBINA PIPELINE

5.67%

CHENIERE ENERGY

5.42%

ONEOK

4.76%

TARGA RESOURCS

4.75%

ENTERPRISE PRODUCTS PARTNERS UNT

4.33%

ENERGY TRANSFER LP UNITS

4.32%

NEXTDECADE CORPORATION

4.22%

MPLX COMMON UNITS

3.97%

DT MIDSTREAM INC

3.88%

ANTERO MIDSTREAM CORPORATION

3.76%

CHENIERE ENERGY PARTNERS UNT

3.50%

PIPE

TARGA RESOURCS

7.54%

WILLIAMS

6.46%

PLAINS GP HOLDINGS

5.99%

TC ENERGY CORP

5.79%

CHENIERE ENERGY

5.33%

ONEOK

5.16%

KINDER MORGAN

4.85%

PEMBINA PIPELINE

4.65%

ENBRIDGE

4.53%

KEYERA

4.53%

ENERGY TRANSFER LP UNITS

4.46%

ENTERPRISE PRODUCTS PARTNERS UNT

4.45%

US50012A1088

4.28%

MPLX COMMON UNITS

4.06%

CA83671M1059

3.62%

Frequently asked questions about MLPI and PIPE

How have the MLPI and PIPE ETFs performed in 2026?

As of April 27, 2026, MLPI is up 15.42% year-to-date (YTD), while PIPE has returned 21.47%. That puts PIPE better performer ahead so far this year.

Which ETF is attracting more investor money: MLPI or PIPE?

Year-to-date, the MLPI ETF saw +$502M in flows, compared to -$209K for PIPE.

Which ETF is bigger: MLPI or PIPE?

As of April 27, 2026, MLPI holds $539.53 M in assets under management (AUM), while PIPE manages $60.27 M.

What sectors do the MLPI and PIPE ETFs invest in?

MLPI leans toward sectors like Energy. Meanwhile, PIPE focuses on Energy.

What are the top holdings of the MLPI ETF and PIPE ETF?

MLPI top holdings include ENBRIDGE, WILLIAMS and TC ENERGY CORP. PIPE holds in its top three: TARGA RESOURCS, WILLIAMS and PLAINS GP HOLDINGS.

Which ETF is more diversified: MLPI or PIPE?

MLPI holds 24 securities with 79.37% of its assets in the top 15. PIPE has 25 securities and a top 15 weight of 75.72%.

Notable ETF Filings and Launches Recap: February 2025

March 4, 2025

PIPE

MLPIvsPIPEETF Comparison

NEOS MLP & Energy Infrastructure High Income ETF

Invesco SteelPath MLP & Energy Infrastructure ETF

MLPI vs PIPE performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the MLPI and PIPE ETFs performed in 2026?

As of April 27, 2026, MLPI is up 15.42% year-to-date (YTD), while PIPE has returned 21.47%. That puts PIPE better performer ahead so far this year.

Which ETF is attracting more investor money: MLPI or PIPE?

Year-to-date, the MLPI ETF saw +$502M in flows, compared to -$209K for PIPE.

Which ETF is bigger: MLPI or PIPE?

As of April 27, 2026, MLPI holds $539.53 M in assets under management (AUM), while PIPE manages $60.27 M.

What sectors do the MLPI and PIPE ETFs invest in?

MLPI leans toward sectors like Energy. Meanwhile, PIPE focuses on Energy.

What are the top holdings of the MLPI ETF and PIPE ETF?

MLPI top holdings include ENBRIDGE, WILLIAMS and TC ENERGY CORP. PIPE holds in its top three: TARGA RESOURCS, WILLIAMS and PLAINS GP HOLDINGS.

Which ETF is more diversified: MLPI or PIPE?

MLPI holds 24 securities with 79.37% of its assets in the top 15. PIPE has 25 securities and a top 15 weight of 75.72%.

Notable ETF Filings and Launches Recap: February 2025

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