At a glance
EINC charges 0.46% a year, below the 0.93% average of the 4 funds most like it (the cheapest of 5). It has $108.7M in assets, the 5th largest of that group; it paid 4.16% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +34.8% with distributions reinvested (S&P 500: +11.5%), the best of those 5 funds; over three years it returned +28.4% a year. At its worst it fell 62.8% in the 2020 crash (S&P 500: 33.7%) and 19.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 13 months and 12 months after the lows. Its ten largest positions make up 59.7% of the fund, out of 30 in all.
The short version
VanEck Energy Income ETF (EINC) tracks the MVIS North America Energy Infrastructure Index, a basket of about 30 U.S. and Canadian pipeline and storage companies, including some master limited partnerships (MLPs), a type of publicly traded partnership. Its 0.46% yearly fee was the lowest of five similar funds compared, which averaged 0.93%. Its yield was 4.16% as of October 27, 2026, but it has suffered deep losses in past energy slumps.
Price history
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EINC +34.8% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| EINC official prospectus, to Dec 31, 2025 | — | +7.11% | — | +23.76% | +10.22% | — |
| MVIS® North America Energy Infrastructure Index (reflects no deduction for fees, expenses or taxes, except withholding taxes) index, same period | — | +7.82% | — | +24.70% | +10.17% | — |
| MSCI ACWI Net TR Index (reflects no deduction for fees, expenses or taxes, except withholding taxes) index, same period | — | +22.34% | — | +11.19% | +11.72% | — |
| EINC price data to Oct 27, 2026 | +29.0% | +34.8% | +28.4% | +20.3% | +10.7% | +1.0% |
- Over the year to Oct 27, 2026, EINC returned +34.8%, 1st of 5 among similar funds.
- Its 5-year annualized return was +20.3% and its 10-year +10.7%.
- In the 2020 COVID crash it fell 62.8% and regained its old high 13.3 months after the low.
- Its worst full calendar year was 2015 (-57.0%); its best was 2024 (+42.8%).
- The deepest fall in its price history was 87.6% (Aug 29, 2014 to Mar 18, 2020), recovered by May 15, 2026.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +29.0% | — |
| 2025 | +7.1% | +7.11% |
| 2024 | +42.8% | +42.39% |
| 2023 | +15.6% | +15.73% |
| 2022 | +19.1% | +19.18% |
| 2021 | +38.0% | +37.99% |
| 2020 | -20.9% | -20.50% |
| 2019 | +17.1% | +17.88% |
| 2018 | -19.9% | -20.24% |
| 2017 | -3.4% | -2.94% |
| 2016 | +26.2% | +25.64% |
| 2015 | -57.0% | — |
| 2014 | -26.0% | — |
| 2013 | +15.6% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 58.1% over that stretch · deepest drop along the way 62.8%, back to its old high 13.3 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 9.9% over that stretch · deepest drop along the way 19.9%, back to its old high 11.6 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $3.3600 | |
| 2025 | $4.3300 | +37.9% |
| 2024 | $3.1400 | +21.2% |
| 2023 | $2.5900 | +45.5% |
| 2022 | $1.7800 | -44.5% |
| 2021 | $3.2100 | +17.2% |
| 2020 | $2.7385 | -48.9% |
| 2019 | $5.3636 | -8.8% |
| 2018 | $5.8788 | -2.5% |
| 2017 | $6.0303 | -21.7% |
| 2016 | $7.6970 | -62.1% |
| 2015 | $20.3030 | -13.5% |
| 2014 | $23.4848 | -5.5% |
| 2013 | $24.8485 |
What's inside
As of Jun 30, 2026, the fund held 30 securities; the ten largest made up 59.71% of assets. It also reported 4.83% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| Williams Cos Inc | 8.33% | |
| Enbridge Inc | 7.77% | |
| TC Energy Corp | 6.83% | |
| Kinder Morgan Inc | 6.60% | |
| Cheniere Energy Inc | 6.00% | |
| ONEOK Inc | 5.34% | |
| Targa Resources Corp | 4.98% | |
| DT Midstream Inc | 4.74% | |
| Energy Transfer LP | 4.57% | |
| MPLX LP | 4.55% | |
| Enterprise Products Partners LP | 4.42% | |
| Pembina Pipeline Corp | 4.31% | |
| Keyera Corp | 4.23% | |
| AltaGas Ltd | 4.18% | |
| Plains All American Pipeline LP | 2.76% |
By country
United States 68.1%Canada 31.69%By asset type
Stocks 99.8%What changed recently
- Over the three months to Jun 30, 2026, investors withdrew a net $32.1M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +3.16%, -3.53%, +2.19%.
How it works
EINC is an index fund. It does not try to beat its benchmark. It tries to match the price and yield performance of the MVIS North America Energy Infrastructure Index, before fees. The index covers the "midstream" part of the energy industry: the pipelines, storage facilities and gathering systems that move and hold natural gas, natural gas liquids, crude oil and refined products between the well and the customer. To join the index, a company must first earn at least 50% of its revenue from oil and gas storage and transportation. As of December 31, 2025, the index held 30 securities, with company market values from about $1.4 billion to $104.3 billion.
The index holds both ordinary corporations and MLPs, and it is rebalanced quarterly. The fund normally keeps at least 80% of its assets in index securities, and portfolio turnover was 13% according to the prospectus. EINC is "non-diversified," which means it may put a larger share of its money in a single company. As of June 30, 2026, the top 10 holdings made up 59.7% of assets. The largest were Williams (8.3%), Enbridge (7.8%) and TC Energy (6.8%), and Canadian companies made up about 31.7%. The fund held no derivatives.
Part of the fund's distributions is expected to count as a return of capital. That portion isn't taxed when it's paid, but it lowers your cost basis, so you may owe more tax on gains when the shares are eventually sold.
What it really costs
- EINC charges 0.46% a year, versus an average of 0.93% for the similar funds below (1st of 5, cheapest first).
- Of that, 0.45% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $47 in the first year and $579 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| EINC | $47 | $148 | $258 | $579 |
In a retirement portfolio
It offers meaningful quarterly income from a single, volatile corner of the energy sector, so it fits better as a small add-on than as a foundation.
EINC pays income quarterly, and its trailing 12-month yield was 4.16% as of October 27, 2026. It costs 0.46% a year. In the SEC's standard example, that comes to $47 in the first year on a $10,000 investment. The risks are large. The fund launched in 2012, so it has no record from 2008. In the 2020 COVID crash it fell 62.8% and took about 13 months to recover. In 2022 it held up better than the broad market, gaining 9.9% between the market's January peak and its October low, though it later dropped 19.9% on its own. Its worst calendar year was 2015, at -57%. Between August 2014 and March 2020 it lost 87.6%, and it did not get back to that 2014 peak until May 2026. Anyone drawing money in a slump could be cashing out at deep losses. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want pipeline and storage companies at 0.46% a year, about half the 0.93% average of four similar midstream funds.
- Income seekers who are comfortable with quarterly payouts (a 4.16% trailing yield as of October 27, 2026), part of which may be return of capital.
- People who want North American reach: about 31.7% in Canadian firms such as Enbridge, TC Energy and Pembina as of June 30, 2026.
Look elsewhere if
- Anyone who couldn't hold through an 87.6% drop. The fund didn't regain its August 2014 peak until May 2026.
- Investors who want broad diversification. It holds about 30 energy infrastructure names, with 59.7% of assets in the top 10.
- Those who prefer a larger fund. At $108.7 million in net assets as of June 30, 2026, it was the smallest of five similar funds.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| EINC this fund | — | 0.46% | $108.7M | +34.8% | +28.4% |
| UMI USCF Midstream Energy Income Fund ETF | 78% | 0.85% | $485.2M | +32.9% | +26.7% |
| MDST Westwood Salient Enhanced Midstream Income … | 74% | 0.8% | $287.2M | +25.7% | — |
| EIPI FT Energy Income Partners Enhanced Income E… | 31% | 1.11% | $1.11B | +24.2% | — |
| EIPX FT Energy Income Partners Strategy ETF | 26% | 0.95% | $563.5M | +32.4% | +21.5% |
Questions investors ask
Is EINC good for retirement income?
It can provide income, but the risk is high. EINC pays quarterly, and its trailing 12-month yield was 4.16% as of October 27, 2026. Part of each payout is expected to be a return of capital, which lowers your tax basis. The fund fell 62.8% in early 2020, and from 2014 to 2020 it lost 87.6% from peak to low. Retirees who need cash in a bad year could end up withdrawing at low prices.
What's the difference between EINC and UMI?
Both funds own similar midstream companies, with about 78% holdings overlap in their latest N-PORT reports. The main difference is cost: EINC charges 0.46% a year, while USCF Midstream Energy Income Fund ETF (UMI) charges 0.85%. UMI is larger, with about $485 million in net assets versus EINC's $108.7 million as of June 30, 2026. As of October 27, 2026, EINC returned 34.8% over one year versus 32.9% for UMI. Over three years it returned 28.4% a year versus 26.7%.
What stocks are in EINC?
EINC holds North American pipeline and energy storage companies. As of June 30, 2026, the largest positions were Williams (8.3%), Enbridge (7.8%), TC Energy (6.8%), Kinder Morgan (6.6%) and Cheniere Energy (6.0%). It also owns partnerships such as Energy Transfer, MPLX and Enterprise Products Partners. U.S. companies made up about 68.1% of the fund and Canadian companies about 31.7%. The top 10 holdings accounted for 59.7% of assets.
How has EINC performed over 10 years?
It returned 10.22% a year over the 10 years ended December 31, 2025, close to its index's 10.17%. The MSCI ACWI, a global stock index, returned 11.72% a year over the same period. Over five years EINC did much better, at 23.76% a year versus 11.19% for the MSCI ACWI. The ride was uneven: the fund lost 20.24% in 2018 and 20.5% in 2020, then gained 42.39% in 2024.
What is EINC's expense ratio?
EINC's expense ratio is 0.46% a year, according to the prospectus filed January 27, 2026. That was the lowest of five similar midstream funds compared, which averaged 0.93%. In the SEC's standard example, which assumes $10,000 invested, a 5% yearly return and shares sold at the end of each period, total costs would be about $47 after one year, $258 after five years and $579 after ten years.