AMJ vs. AMLP
Compare and contrast key facts about J.P. Morgan Alerian MLP Index ETN (AMJ) and Alerian MLP ETF (AMLP).
AMJ and AMLP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AMJ is a passively managed fund by JPMorgan Chase that tracks the performance of the Alerian MLP Index. It was launched on Apr 2, 2009. AMLP is a passively managed fund by SS&C that tracks the performance of the Alerian MLP Infrastructure Index. It was launched on Aug 23, 2010. Both AMJ and AMLP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: AMJ or AMLP.
Key characteristics
| AMJ | AMLP | |
|---|---|---|
| YTD Return | 13.16% | 13.25% |
| 1Y Return | 34.67% | 31.19% |
| 3Y Return (Ann) | 25.78% | 23.23% |
| 5Y Return (Ann) | 10.34% | 8.11% |
| 10Y Return (Ann) | 1.84% | 1.93% |
| Sharpe Ratio | 2.64 | 2.26 |
| Daily Std Dev | 13.43% | 14.33% |
| Max Drawdown | -81.21% | -77.19% |
| Current Drawdown | -2.38% | -2.08% |
Correlation
The correlation between AMJ and AMLP is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
AMJ vs. AMLP - Performance Comparison
The year-to-date returns for both investments are quite close, with AMJ having a 13.16% return and AMLP slightly higher at 13.25%. Both investments have delivered pretty close results over the past 10 years, with AMJ having a 1.84% annualized return and AMLP not far ahead at 1.93%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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AMJ vs. AMLP - Expense Ratio Comparison
AMJ has a 0.85% expense ratio, which is lower than AMLP's 0.90% expense ratio.
Risk-Adjusted Performance
AMJ vs. AMLP - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for J.P. Morgan Alerian MLP Index ETN (AMJ) and Alerian MLP ETF (AMLP). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Dividends
AMJ vs. AMLP - Dividend Comparison
AMJ's dividend yield for the trailing twelve months is around 5.96%, less than AMLP's 7.31% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMJ J.P. Morgan Alerian MLP Index ETN | 5.96% | 6.54% | 6.33% | 7.31% | 10.87% | 8.30% | 8.38% | 6.96% | 6.57% | 7.93% | 5.07% | 4.72% |
AMLP Alerian MLP ETF | 7.31% | 7.86% | 7.70% | 8.55% | 12.31% | 9.12% | 9.29% | 7.97% | 8.09% | 9.84% | 6.45% | 6.00% |
Drawdowns
AMJ vs. AMLP - Drawdown Comparison
The maximum AMJ drawdown since its inception was -81.21%, which is greater than AMLP's maximum drawdown of -77.19%. Use the drawdown chart below to compare losses from any high point for AMJ and AMLP. For additional features, visit the drawdowns tool.
Volatility
AMJ vs. AMLP - Volatility Comparison
J.P. Morgan Alerian MLP Index ETN (AMJ) has a higher volatility of 4.17% compared to Alerian MLP ETF (AMLP) at 3.54%. This indicates that AMJ's price experiences larger fluctuations and is considered to be riskier than AMLP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.