PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
AMLP vs. AMUB
Performance
Return for Risk
Drawdowns
Volatility
Dividends

AMLP vs. AMUB

Last updated Jun 3, 2026

AMLP (Alerian MLP ETF) and AMUB (ETRACS Alerian MLP Index ETN Class B) are both MLPs funds - AMLP tracks the Alerian MLP Infrastructure Index while AMUB tracks the Alerian MLP Index. Both are passively managed. Over the past 10 years, AMLP returned 6.79%/yr vs 3.08%/yr for AMUB. A 0.77 correlation means they provide meaningful diversification when combined. AMLP charges 0.90%/yr vs 0.80%/yr for AMUB.

Performance

AMLP vs. AMUB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alerian MLP ETF (AMLP) and ETRACS Alerian MLP Index ETN Class B (AMUB). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

The year-to-date returns for both investments are quite close, with AMLP having a 16.62% return and AMUB slightly higher at 17.24%. Over the past 10 years, AMLP has outperformed AMUB with an annualized return of 6.79%, while AMUB has yielded a comparatively lower 3.08% annualized return.

AMLP

1D
1.03%
1M
0.25%
YTD
16.62%
6M
16.20%
1Y
19.16%
3Y*
20.25%
5Y*
17.03%
10Y*
6.79%

AMUB

1D
1.02%
1M
-1.02%
YTD
17.24%
6M
16.74%
1Y
17.83%
3Y*
15.89%
5Y*
12.50%
10Y*
3.08%
*Multi-year figures are annualized to reflect compound growth (CAGR)

AMLP vs. AMUB - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
AMLP
Alerian MLP ETF		16.62%5.78%22.76%21.40%25.47%39.09%-32.26%5.99%-12.67%-7.89%
AMUB
ETRACS Alerian MLP Index ETN Class B		17.24%2.05%15.68%16.89%21.91%28.83%-36.47%-1.78%-19.25%-13.07%

Correlation

The correlation between AMLP and AMUB is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

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

0.92

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

0.94

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

0.96

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

0.82

Correlation (All Time)
Calculated using the full available price history since Oct 12, 2015

0.77

The correlation between AMLP and AMUB shifts across timeframes, from 0.77 (all time) to 0.96 (5 years), reflecting how their relationship changes across market environments.

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

ETRACS Alerian MLP Index ETN Class B

Often compared with AMLP:
AMLP vs. MLPAAMLP vs. ENFRAMLP vs. XLEAMLP vs. SPYAMLP vs. ETAMLP vs. VDEAMLP vs. KYN
Often compared with AMUB:
AMUB vs. UMIAMUB vs. IFEDAMUB vs. NLRAMUB vs. AMZAAMUB vs. MVRLAMUB vs. MLPXAMUB vs. ATMP

Return for Risk

AMLP vs. AMUB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AMLP
AMLP Risk / Return Rank: 4545
Overall Rank
AMLP Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
AMLP Sortino Ratio Rank: 4545
Sortino Ratio Rank
AMLP Omega Ratio Rank: 4343
Omega Ratio Rank
AMLP Calmar Ratio Rank: 4444
Calmar Ratio Rank
AMLP Martin Ratio Rank: 4545
Martin Ratio Rank
AMUB
AMUB Risk / Return Rank: 3535
Overall Rank
AMUB Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
AMUB Sortino Ratio Rank: 3535
Sortino Ratio Rank
AMUB Omega Ratio Rank: 3434
Omega Ratio Rank
AMUB Calmar Ratio Rank: 3434
Calmar Ratio Rank
AMUB Martin Ratio Rank: 3333
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. AMUB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alerian MLP ETF (AMLP) and ETRACS Alerian MLP Index ETN Class B (AMUB). 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.

AMLPAMUBDifference

Sharpe ratio

Return per unit of total volatility

1.62

1.32

+0.29

Sortino ratio

Return per unit of downside risk

2.25

1.88

+0.37

Omega ratio

Gain probability vs. loss probability

1.28

1.23

+0.05

Calmar ratio

Return relative to maximum drawdown

2.20

1.74

+0.46

Martin ratio

Return relative to average drawdown

7.36

5.17

+2.19

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMLP vs. AMUB - Sharpe Ratio Comparison

The current AMLP Sharpe Ratio is 1.62, which is comparable to the AMUB Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of AMLP and AMUB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

AMLPAMUBDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.62

1.32

+0.29

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.86

0.62

+0.24

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.25

0.11

+0.13

Sharpe Ratio (All Time)

Calculated using the full available price history

0.23

0.00

+0.22

Drawdowns

AMLP vs. AMUB - Drawdown Comparison

The maximum AMLP drawdown since its inception was -77.19%, roughly equal to the maximum AMUB drawdown of -79.46%. Use the drawdown chart below to compare losses from any high point for AMLP and AMUB.

Loading charts...

Drawdown Indicators

AMLPAMUBDifference

Max Drawdown

Largest peak-to-trough decline

-77.19%

-79.46%

+2.27%

Max Drawdown (1Y)

Largest decline over 1 year

-8.94%

-10.37%

+1.43%

Max Drawdown (3Y)

Largest decline over 3 years

-14.27%

-17.22%

+2.95%

Max Drawdown (5Y)

Largest decline over 5 years

-20.92%

-20.58%

-0.34%

Max Drawdown (10Y)

Largest decline over 10 years

-72.62%

-78.86%

+6.24%

Current Drawdown

Current decline from peak

-3.85%

-5.94%

+2.09%

Average Drawdown

Average peak-to-trough decline

-17.40%

-29.23%

+11.83%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.67%

3.49%

-0.82%

Volatility

AMLP vs. AMUB - Volatility Comparison

The current volatility for Alerian MLP ETF (AMLP) is 4.94%, while ETRACS Alerian MLP Index ETN Class B (AMUB) has a volatility of 5.50%. This indicates that AMLP experiences smaller price fluctuations and is considered to be less risky than AMUB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

AMLPAMUBDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.94%

5.50%

-0.56%

Volatility (6M)

Calculated over the trailing 6-month period

8.65%

9.84%

-1.19%

Volatility (1Y)

Calculated over the trailing 1-year period

11.91%

13.61%

-1.70%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.98%

20.24%

-0.26%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.68%

27.09%

+0.59%

AMLP vs. AMUB - Expense Ratio Comparison

AMLP has a 0.90% expense ratio, which is higher than AMUB's 0.80% expense ratio.

Dividends

AMLP vs. AMUB - Dividend Comparison

AMLP's dividend yield for the trailing twelve months is around 7.62%, while AMUB has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
AMLP
Alerian MLP ETF		7.62%8.36%7.70%7.86%7.70%8.55%12.31%9.12%9.29%7.97%8.09%9.84%
AMUB
ETRACS Alerian MLP Index ETN Class B		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

With a correlation of 0.92, AMLP and AMUB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

AMUB has higher volatility (5.50%) compared to AMLP (4.94%). In terms of maximum drawdown, AMLP dropped -77.19% vs AMUB's -79.46%.

On 10-year performance, AMLP leads with 6.79% vs 3.08% for AMUB. On fees, AMUB is cheaper at 0.80% per year. On volatility, AMLP has been the lower-risk option at 4.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, AMLP has performed better with a 6.79% return vs 3.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

AMUB is cheaper with a 0.80% expense ratio, compared with 0.90% for AMLP.

AMLP has the higher dividend yield at 7.62%, compared with 0.00% for AMUB.

AMLP tracks Alerian MLP Infrastructure Index, while AMUB tracks Alerian MLP Index. They also come from different issuers: SS&C and UBS. Their fees differ too: 0.90% for AMLP and 0.80% for AMUB.

AMLP currently has the higher Sharpe Ratio (1.62 vs 1.32), 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.

Portfolio Optimizer

Find the right allocation for AMLP and AMUB

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer