PIPEvsMLPIETF Comparison
VS
ETF 2
MLPI
NEOS MLP & Energy Infrastructure High Income ETF
This fund is part of
Options Strategies
-0.15%
Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE) belongs to the Infrastructure segment. NEOS MLP & Energy Infrastructure High Income ETF (MLPI) is part of the Options Strategies segment. Both ETFs have the same top 3 sector exposures: and Energy. PIPE is more expensive with a Total Expense Ratio (TER) of 0.75%, versus 0.68% for MLPI. PIPE is up 31.61% year-to-date (YTD) with +$1M in YTD flows. MLPI performs worse with 21.32% YTD performance, and +$791M in YTD flows. Run a side-by-side ETF comparison of PIPE and MLPI 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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PIPE vs MLPI performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PIPE MLPI | +4.66%+2.24% | +8.39%+5.25% | +31.61%+21.32% | +35.65%n/a | n/an/a | n/an/a |
| Flows | PIPE MLPI | -+$156M | +$1M+$289M | +$1M+$791M | +$20M- | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PIPE MLPI | +18.68%+15.11% | +14.72%n/a | n/an/a | n/an/a |
| Max drawdown | PIPE MLPI | -6.97%-5.41% | -7.30%n/a | n/an/a | n/an/a |
| Max drawdown duration | PIPE MLPI | 66d60d | 109dn/a | n/an/a | n/an/a |
Trading data
PIPE | MLPI | |
Last sale 7/27/2026 at 2:39 PM | $30.40 | |
| Previous close 07/24/2026 | $31.04 | |
| Consolidated volume 07/24/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 7/27/2026 at 2:39 PM
Live
Closed
PIPE | MLPI | |
|---|---|---|
| Last price | $30.40 | – |
| 1D performance | -2.08% | – |
| AuM | $66.63 M | $833.57 M |
| E/R | 0.75% | 0.68% |
Characteristics
PIPE | MLPI | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Invesco | NEOS Investment Management |
| Benchmark | - | - |
| N° of holdings | 25 | 24 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | February 20, 2025 | December 18, 2025 |
| ESG | No | No |
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Exposure
Countries
PIPE
USA
72.98%
Canada
27.02%
Other
0%
MLPI
USA
72.37%
Canada
24.49%
Other
3.14%
Sectors
PIPE
Energy
100%
Other
0%
MLPI
Energy
96.64%
Other
3.36%
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Diversification
PIPE
Total weight of top 15 holdings out of 15
75.88%
MLPI
Total weight of top 15 holdings out of 15
81%
Top 15 holdings
Data as of June 30, 2026
PIPE
Targa Resources Corp.
8.07%
The Williams Cos., Inc.
6.72%
TC Energy Corp.
6.24%
Plains GP Holdings LP
5.71%
Kodiak Gas Services, Inc.
5.48%
ONEOK, Inc.
4.81%
Pembina Pipeline Corp.
4.71%
Keyera Corp.
4.67%
Kinder Morgan, Inc.
4.64%
Enbridge, Inc.
4.58%
Energy Transfer LP
4.26%
Cheniere Energy, Inc.
4.26%
Enterprise Products Partners LP
4.07%
MPLX LP
3.87%
South Bow Corp.
3.80%
MLPI
The Williams Cos., Inc.
9.96%
Enbridge, Inc.
9.86%
TC Energy Corp.
7.78%
Kinder Morgan, Inc.
6.58%
Targa Resources Corp.
5.63%
ONEOK, Inc.
5.42%
Cheniere Energy, Inc.
4.63%
DT Midstream, Inc.
4.57%
Pembina Pipeline Corp.
4.44%
Energy Transfer LP
4.38%
Enterprise Products Partners LP
4.29%
MPLX LP
3.96%
Antero Midstream Corp.
3.62%
Cheniere Energy Partners LP
3.07%
Kinetik Holdings, Inc.
2.81%
Frequently asked questions about PIPE and MLPI
How have the PIPE and MLPI ETFs performed in 2026?
As of July 24, 2026, PIPE is up 31.61% year-to-date (YTD), while MLPI has returned 21.32%. That puts PIPE better performer ahead so far this year.
Which ETF is attracting more investor money: PIPE or MLPI?
Year-to-date, the PIPE ETF saw +$1M in flows, compared to +$791M for MLPI.
Which ETF is bigger: PIPE or MLPI?
As of July 24, 2026, PIPE holds $66.63 M in assets under management (AUM), while MLPI manages $833.57 M.
What sectors do the PIPE and MLPI ETFs invest in?
PIPE leans toward sectors like Energy. Meanwhile, MLPI focuses on Energy.
What are the top holdings of the PIPE ETF and MLPI ETF?
PIPE top holdings include Targa Resources Corp., The Williams Cos., Inc. and TC Energy Corp.. MLPI holds in its top three: The Williams Cos., Inc., Enbridge, Inc. and TC Energy Corp..
Which ETF is more diversified: PIPE or MLPI?
PIPE holds 25 securities with 75.88% of its assets in the top 15. MLPI has 24 securities and a top 15 weight of 81%.
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Latest news about PIPE & MLPI
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