AMLP vs. AMZA

Last updated Jun 3, 2026

AMLP (Alerian MLP ETF) and AMZA (InfraCap MLP ETF) are both MLPs funds. AMLP is passively managed, while AMZA is actively managed. Over the past 10 years, AMLP returned 6.79%/yr vs 4.82%/yr for AMZA. Their correlation of 0.93 suggests significant overlap in exposure. AMLP charges 0.90%/yr vs 2.01%/yr for AMZA.

Performance

AMLP vs. AMZA - Performance Comparison

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

Returns By Period

In the year-to-date period, AMLP achieves a 16.62% return, which is significantly lower than AMZA's 21.75% return. Over the past 10 years, AMLP has outperformed AMZA with an annualized return of 6.79%, while AMZA has yielded a comparatively lower 4.82% 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%

AMZA

• 1D: 1.05%
• 1M: -0.40%
• YTD: 21.75%
• 6M: 21.36%
• 1Y: 19.39%
• 3Y*: 21.86%
• 5Y*: 19.46%
• 10Y*: 4.82%

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

AMLP vs. AMZA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMLP Alerian MLP ETF	16.62%	5.78%	22.76%	21.40%	25.47%	39.09%	-32.26%	5.99%	-12.67%	-7.89%
AMZA InfraCap MLP ETF	21.75%	0.17%	30.90%	23.35%	33.20%	51.22%	-49.25%	6.27%	-26.78%	-6.90%

Correlation

The correlation between AMLP and AMZA is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Oct 3, 2014	0.93

The correlation between AMLP and AMZA has been stable across timeframes, ranging from 0.86 to 0.93 - a consistent structural relationship.

AMLP vs. AMZA - Sectors Allocation Comparison

Sectors	AMLP	AMZA
Energy	97.7%	99.8%
Utilities	2.3%	0.2%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

AMLP vs. AMZA — Risk / Return Rank

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

AMLP

AMLP Risk / Return Rank: 45
AMLP Sharpe Ratio Rank: 46
AMLP Sortino Ratio Rank: 45
AMLP Omega Ratio Rank: 43
AMLP Calmar Ratio Rank: 44
AMLP Martin Ratio Rank: 45

AMZA

AMZA Risk / Return Rank: 30
AMZA Sharpe Ratio Rank: 30
AMZA Sortino Ratio Rank: 30
AMZA Omega Ratio Rank: 28
AMZA Calmar Ratio Rank: 34
AMZA Martin Ratio Rank: 29

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. AMZA - Risk-Adjusted Trends Comparison

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

	AMLP	AMZA	Difference
Sharpe ratio Return per unit of total volatility	1.62	1.10	+0.52
Sortino ratio Return per unit of downside risk	2.25	1.61	+0.64
Omega ratio Gain probability vs. loss probability	1.28	1.19	+0.09
Calmar ratio Return relative to maximum drawdown	2.20	1.71	+0.48
Martin ratio Return relative to average drawdown	7.36	4.33	+3.02
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. AMZA - Sharpe Ratio Comparison

The current AMLP Sharpe Ratio is 1.62, which is higher than the AMZA Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of AMLP and AMZA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AMLP	AMZA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.62	1.10	+0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	0.76	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.25	0.13	+0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	-0.02	+0.25

Drawdowns

AMLP vs. AMZA - Drawdown Comparison

The maximum AMLP drawdown since its inception was -77.19%, smaller than the maximum AMZA drawdown of -91.46%. Use the drawdown chart below to compare losses from any high point for AMLP and AMZA.

Drawdown Indicators

	AMLP	AMZA	Difference
Max Drawdown Largest peak-to-trough decline	-77.19%	-91.46%	+14.27%
Max Drawdown (1Y) Largest decline over 1 year	-8.94%	-12.16%	+3.22%
Max Drawdown (3Y) Largest decline over 3 years	-14.27%	-18.56%	+4.29%
Max Drawdown (5Y) Largest decline over 5 years	-20.92%	-25.15%	+4.23%
Max Drawdown (10Y) Largest decline over 10 years	-72.62%	-86.84%	+14.22%
Current Drawdown Current decline from peak	-3.85%	-10.54%	+6.69%
Average Drawdown Average peak-to-trough decline	-17.40%	-45.03%	+27.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	4.81%	-2.14%

Volatility

AMLP vs. AMZA - Volatility Comparison

The current volatility for Alerian MLP ETF (AMLP) is 4.94%, while InfraCap MLP ETF (AMZA) has a volatility of 5.86%. This indicates that AMLP experiences smaller price fluctuations and is considered to be less risky than AMZA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMLP	AMZA	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.94%	5.86%	-0.92%
Volatility (6M) Calculated over the trailing 6-month period	8.65%	13.40%	-4.75%
Volatility (1Y) Calculated over the trailing 1-year period	11.91%	17.75%	-5.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.98%	25.84%	-5.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.68%	37.26%	-9.58%

AMLP vs. AMZA - Expense Ratio Comparison

AMLP has a 0.90% expense ratio, which is lower than AMZA's 2.01% expense ratio.

Dividends

AMLP vs. AMZA - Dividend Comparison

AMLP's dividend yield for the trailing twelve months is around 7.62%, less than AMZA's 8.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
AMZA InfraCap MLP ETF	8.05%	8.81%	7.29%	9.40%	7.65%	10.24%	22.13%	19.47%	34.46%	24.16%	18.36%	18.21%

Frequently Asked Questions

Can I hold both AMLP and AMZA in my portfolio?

AMLP and AMZA have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AMLP or AMZA?

AMZA has higher volatility (5.86%) compared to AMLP (4.94%). In terms of maximum drawdown, AMLP dropped -77.19% vs AMZA's -91.46%.

Which ETF is better, AMLP or AMZA?

On 10-year performance, AMLP leads with 6.79% vs 4.82% for AMZA. On fees, AMLP is cheaper at 0.90% 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.

Which ETF has performed better, AMLP or AMZA?

Over the 10-year period, AMLP has performed better with a 6.79% return vs 4.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMLP or AMZA?

AMLP is cheaper with a 0.90% expense ratio, compared with 2.01% for AMZA.

Which ETF pays a higher dividend yield, AMLP or AMZA?

AMZA has the higher dividend yield at 8.05%, compared with 7.62% for AMLP.

What is the main difference between AMLP and AMZA?

They also come from different issuers: SS&C and Virtus Investment Partners. Their fees differ too: 0.90% for AMLP and 2.01% for AMZA.

Which has better risk-adjusted returns?

AMLP currently has the higher Sharpe Ratio (1.62 vs 1.10), 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.