AMJ vs. PXE

Last updated Apr 2, 2026

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 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.

Performance

AMJ vs. PXE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in J.P. Morgan Alerian MLP Index ETN (AMJ) and Invesco Dynamic Energy Exploration & Production ETF (PXE). The values are adjusted to include any dividend payments, if applicable.

AMJ vs. PXE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMJ J.P. Morgan Alerian MLP Index ETN	0.00%	0.00%	13.32%	25.06%	30.08%	37.93%	-29.43%	5.67%	-12.84%	-7.21%
PXE Invesco Dynamic Energy Exploration & Production ETF	35.79%	-2.82%	-1.86%	7.69%	58.32%	94.04%	-36.76%	-1.69%	-23.35%	1.02%

Returns By Period

AMJ

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PXE

• 1D: -3.44%
• 1M: 9.91%
• YTD: 35.79%
• 6M: 28.06%
• 1Y: 31.89%
• 3Y*: 14.81%
• 5Y*: 22.86%
• 10Y*: 10.02%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AMJ vs. PXE - Expense Ratio Comparison

AMJ has a 0.85% expense ratio, which is higher than PXE's 0.63% expense ratio.

AMJ

J.P. Morgan Alerian MLP Index ETN

PXE

Invesco Dynamic Energy Exploration & Production ETF

Return for Risk

AMJ vs. PXE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PXE

PXE Risk / Return Rank: 48
PXE Sharpe Ratio Rank: 50
PXE Sortino Ratio Rank: 49
PXE Omega Ratio Rank: 48
PXE Calmar Ratio Rank: 50
PXE Martin Ratio Rank: 44

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AMJ vs. PXE - Risk-Adjusted Trends 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	AMJ	PXE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.95	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.68	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.27	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.18	—

Correlation

The correlation between AMJ and PXE is 0.63, 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.

Dividends

AMJ vs. PXE - Dividend Comparison

AMJ has not paid dividends to shareholders, while PXE's dividend yield for the trailing twelve months is around 1.96%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMJ J.P. Morgan Alerian MLP Index ETN	0.00%	0.00%	1.49%	6.54%	6.33%	7.31%	10.87%	8.30%	8.38%	6.96%	6.57%	7.93%
PXE Invesco Dynamic Energy Exploration & Production ETF	1.96%	2.98%	2.54%	2.78%	3.03%	1.86%	4.10%	1.70%	1.29%	1.54%	6.62%	2.58%

Drawdowns

Drawdown Indicators

	AMJ	PXE	Difference
Max Drawdown Largest peak-to-trough decline	—	-83.99%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-23.67%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-37.65%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-80.17%	—
Current Drawdown Current decline from peak	—	-6.08%	—
Average Drawdown Average peak-to-trough decline	—	-28.16%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.39%	—

Volatility

Volatility by Period

	AMJ	PXE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.62%	—
Volatility (6M) Calculated over the trailing 6-month period	—	19.32%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	33.61%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	33.81%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	36.99%	—