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AMLP vs. AGNC
Performance
Return for Risk
Drawdowns
Volatility
Dividends

AMLP vs. AGNC

Last updated Jun 14, 2026

AMLP (Alerian MLP ETF) is MLPs fund tracking the Alerian MLP Infrastructure Index, while AGNC (AGNC Investment Corp.) is a stock. Over the past 10 years, AMLP returned 6.92%/yr vs 6.63%/yr for AGNC. At a 0.30 correlation, their price movements are largely independent.

Performance

AMLP vs. AGNC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alerian MLP ETF (AMLP) and AGNC Investment Corp. (AGNC). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, AMLP achieves a 15.29% return, which is significantly higher than AGNC's 1.66% return. Both investments have delivered pretty close results over the past 10 years, with AMLP having a 6.92% annualized return and AGNC not far behind at 6.63%.

AMLP

1D
-0.34%
1M
-3.55%
YTD
15.29%
6M
14.35%
1Y
15.02%
3Y*
20.22%
5Y*
15.26%
10Y*
6.92%

AGNC

1D
0.10%
1M
0.86%
YTD
1.66%
6M
6.78%
1Y
27.55%
3Y*
16.54%
5Y*
2.89%
10Y*
6.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

AMLP vs. AGNC - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
AMLP
Alerian MLP ETF		15.29%5.78%22.76%21.40%25.47%39.09%-32.26%5.99%-12.67%-7.89%
AGNC
AGNC Investment Corp.		1.66%34.92%8.90%10.14%-21.65%5.20%-1.78%13.31%-2.46%23.73%

Correlation

The correlation between AMLP and AGNC is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.08

Correlation (3Y)
Calculated over the trailing 3-year period

0.29

Correlation (5Y)
Calculated over the trailing 5-year period

0.37

Correlation (10Y)
Calculated over the trailing 10-year period

0.33

Correlation (All Time)
Calculated using the full available price history since Aug 25, 2010

0.30

Over the past year, the correlation between AMLP and AGNC has dropped to 0.08 - well below their long-term average of 0.30, suggesting their price drivers have been diverging.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Alerian MLP ETF

AGNC Investment Corp.

Often compared with AMLP:
AMLP vs. MLPAAMLP vs. ENFRAMLP vs. XLEAMLP vs. SPYAMLP vs. ETAMLP vs. VDEAMLP vs. KYN
Often compared with AGNC:
AGNC vs. NLYAGNC vs. OAGNC vs. ARRAGNC vs. DXAGNC vs. ORCAGNC vs. EFCAGNC vs. SCHD

Return for Risk

AMLP vs. AGNC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AMLP
AMLP Risk / Return Rank: 3838
Overall Rank
AMLP Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
AMLP Sortino Ratio Rank: 3939
Sortino Ratio Rank
AMLP Omega Ratio Rank: 3737
Omega Ratio Rank
AMLP Calmar Ratio Rank: 3838
Calmar Ratio Rank
AMLP Martin Ratio Rank: 3939
Martin Ratio Rank
AGNC
AGNC Risk / Return Rank: 7575
Overall Rank
AGNC Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
AGNC Sortino Ratio Rank: 7676
Sortino Ratio Rank
AGNC Omega Ratio Rank: 7474
Omega Ratio Rank
AGNC Calmar Ratio Rank: 7070
Calmar Ratio Rank
AGNC Martin Ratio Rank: 7474
Martin Ratio Rank
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.

AMLP vs. AGNC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alerian MLP ETF (AMLP) and AGNC Investment Corp. (AGNC). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

AMLPAGNCDifference
Sharpe ratioReturn per unit of total volatility
1.25
1.35

-0.10

Sortino ratioReturn per unit of downside risk
1.79
1.93

-0.14

Omega ratioGain probability vs. loss probability

1.22

1.23

-0.02

Calmar ratioReturn relative to maximum drawdown

1.66

1.41

+0.25

Martin ratioReturn relative to average drawdown

5.35

4.08

+1.27

AMLP vs. AGNC - Sharpe Ratio Comparison

The current AMLP Sharpe Ratio is 1.25, which is comparable to the AGNC Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of AMLP and AGNC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

AMLP vs. AGNC - Drawdown Comparison

The maximum AMLP drawdown since its inception was -77.19%, which is greater than AGNC's maximum drawdown of -54.56%. Use the drawdown chart below to compare losses from any high point for AMLP and AGNC.

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Drawdown Indicators

AMLPAGNCDifference

Max Drawdown

Largest peak-to-trough decline

-77.19%

-54.56%

-22.63%

Max Drawdown (1Y)

Largest decline over 1 year

-8.94%

-18.71%

+9.77%

Max Drawdown (3Y)

Largest decline over 3 years

-14.27%

-31.04%

+16.77%

Max Drawdown (5Y)

Largest decline over 5 years

-20.92%

-51.33%

+30.41%

Max Drawdown (10Y)

Largest decline over 10 years

-72.62%

-54.56%

-18.06%

Current Drawdown

Current decline from peak

-4.94%

-10.46%

+5.52%

Average Drawdown

Average peak-to-trough decline

-17.37%

-13.56%

-3.81%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.77%

6.44%

-3.67%

Volatility

AMLP vs. AGNC - Volatility Comparison

The current volatility for Alerian MLP ETF (AMLP) is 4.71%, while AGNC Investment Corp. (AGNC) has a volatility of 5.37%. This indicates that AMLP experiences smaller price fluctuations and is considered to be less risky than AGNC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

AMLPAGNCDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.71%

5.37%

-0.66%

Volatility (6M)

Calculated over the trailing 6-month period

8.77%

16.00%

-7.23%

Volatility (1Y)

Calculated over the trailing 1-year period

11.84%

19.45%

-7.61%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.95%

25.75%

-5.80%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.67%

25.39%

+2.28%

Dividends

AMLP vs. AGNC - Dividend Comparison

AMLP's dividend yield for the trailing twelve months is around 7.71%, less than AGNC's 13.97% yield.

PositionTTM20252024202320222021202020192018201720162015
AGNC
AGNC Investment Corp.		13.97%13.43%15.64%14.68%13.91%9.57%10.00%11.31%12.31%10.70%12.69%14.30%
AMLP
Alerian MLP ETF		7.71%8.36%7.70%7.86%7.70%8.55%12.31%9.12%9.29%7.97%8.09%9.84%

Frequently Asked Questions

AMLP and AGNC have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

AGNC has higher volatility (5.37%) compared to AMLP (4.71%). In terms of maximum drawdown, AMLP dropped -77.19% vs AGNC's -54.56%.

AGNC currently has the higher Sharpe Ratio (1.35 vs 1.25), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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