AMJ vs. PXE
Compare and contrast key facts about J.P. Morgan Alerian MLP Index ETN (AMJ) and Invesco Dynamic Energy Exploration & Production ETF (PXE).
AMJ and PXE 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. PXE is a passively managed fund by Invesco that tracks the performance of the Dynamic Energy Exploration & Production Intellidex Index. It was launched on Oct 26, 2005. Both AMJ and PXE 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 PXE.
Key characteristics
| AMJ | PXE | |
|---|---|---|
| YTD Return | 12.04% | 11.98% |
| 1Y Return | 32.86% | 32.99% |
| 3Y Return (Ann) | 24.80% | 35.45% |
| 5Y Return (Ann) | 10.70% | 16.42% |
| 10Y Return (Ann) | 1.49% | 1.98% |
| Sharpe Ratio | 2.43 | 1.37 |
| Daily Std Dev | 13.50% | 23.62% |
| Max Drawdown | -81.21% | -83.99% |
| Current Drawdown | -3.35% | -7.80% |
Correlation
The correlation between AMJ and PXE is 0.67, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
AMJ vs. PXE - Performance Comparison
The year-to-date returns for both stocks are quite close, with AMJ having a 12.04% return and PXE slightly lower at 11.98%. Over the past 10 years, AMJ has underperformed PXE with an annualized return of 1.49%, while PXE has yielded a comparatively higher 1.98% annualized return. 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. PXE - Expense Ratio Comparison
AMJ has a 0.85% expense ratio, which is higher than PXE's 0.63% expense ratio.
Risk-Adjusted Performance
AMJ vs. PXE - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for J.P. Morgan Alerian MLP Index ETN (AMJ) and Invesco Dynamic Energy Exploration & Production ETF (PXE). 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. PXE - Dividend Comparison
AMJ's dividend yield for the trailing twelve months is around 6.02%, more than PXE's 2.25% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMJ J.P. Morgan Alerian MLP Index ETN | 6.02% | 6.54% | 6.33% | 7.31% | 10.87% | 8.30% | 8.38% | 6.96% | 6.57% | 7.93% | 5.69% | 4.72% |
PXE Invesco Dynamic Energy Exploration & Production ETF | 2.25% | 2.78% | 3.03% | 1.86% | 4.10% | 1.70% | 1.29% | 1.54% | 6.62% | 2.58% | 2.05% | 1.73% |
Drawdowns
AMJ vs. PXE - Drawdown Comparison
The maximum AMJ drawdown since its inception was -81.21%, roughly equal to the maximum PXE drawdown of -83.99%. Use the drawdown chart below to compare losses from any high point for AMJ and PXE. For additional features, visit the drawdowns tool.
Volatility
AMJ vs. PXE - Volatility Comparison
The current volatility for J.P. Morgan Alerian MLP Index ETN (AMJ) is 4.50%, while Invesco Dynamic Energy Exploration & Production ETF (PXE) has a volatility of 6.12%. This indicates that AMJ experiences smaller price fluctuations and is considered to be less risky than PXE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.