AMLP vs. AMJ
Compare and contrast key facts about Alerian MLP ETF (AMLP) and J.P. Morgan Alerian MLP Index ETN (AMJ).
AMLP and AMJ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. 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. Both AMLP and AMJ 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: AMLP or AMJ.
Key characteristics
| AMLP | AMJ | |
|---|---|---|
| YTD Return | 10.30% | 9.35% |
| 1Y Return | 27.22% | 29.34% |
| 3Y Return (Ann) | 23.19% | 25.42% |
| 5Y Return (Ann) | 7.65% | 9.83% |
| 10Y Return (Ann) | 1.59% | 1.40% |
| Sharpe Ratio | 1.89 | 2.22 |
| Daily Std Dev | 14.30% | 13.33% |
| Max Drawdown | -77.19% | -81.21% |
| Current Drawdown | -4.63% | -5.66% |
Correlation
The correlation between AMLP and AMJ 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
AMLP vs. AMJ - Performance Comparison
In the year-to-date period, AMLP achieves a 10.30% return, which is significantly higher than AMJ's 9.35% return. Over the past 10 years, AMLP has outperformed AMJ with an annualized return of 1.59%, while AMJ has yielded a comparatively lower 1.40% 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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AMLP vs. AMJ - Expense Ratio Comparison
Risk-Adjusted Performance
AMLP vs. AMJ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Alerian MLP ETF (AMLP) and J.P. Morgan Alerian MLP Index ETN (AMJ). 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
AMLP vs. AMJ - Dividend Comparison
AMLP's dividend yield for the trailing twelve months is around 7.51%, more than AMJ's 6.17% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMLP Alerian MLP ETF | 7.51% | 7.86% | 7.70% | 8.55% | 12.31% | 9.12% | 9.29% | 7.97% | 8.09% | 9.84% | 6.45% | 6.00% |
AMJ J.P. Morgan Alerian MLP Index ETN | 6.17% | 6.54% | 6.33% | 7.31% | 10.87% | 8.30% | 8.38% | 6.96% | 6.57% | 7.93% | 5.07% | 4.72% |
Drawdowns
AMLP vs. AMJ - Drawdown Comparison
The maximum AMLP drawdown since its inception was -77.19%, roughly equal to the maximum AMJ drawdown of -81.21%. Use the drawdown chart below to compare losses from any high point for AMLP and AMJ. For additional features, visit the drawdowns tool.
Volatility
AMLP vs. AMJ - Volatility Comparison
The current volatility for Alerian MLP ETF (AMLP) is 3.24%, while J.P. Morgan Alerian MLP Index ETN (AMJ) has a volatility of 3.77%. This indicates that AMLP experiences smaller price fluctuations and is considered to be less risky than AMJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.