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AMLP vs. ENB-PP.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

AMLP vs. ENB-PP.TO

Last updated Jun 14, 2026

AMLP (Alerian MLP ETF) is MLPs fund tracking the Alerian MLP Infrastructure Index, while ENB-PP.TO (Enbridge Inc.) is a stock. Over the past 10 years, AMLP returned 6.92%/yr vs 10.54%/yr for ENB-PP.TO. At a 0.19 correlation, their price movements are largely independent.

Performance

AMLP vs. ENB-PP.TO - Performance Comparison

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

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Different Trading Currencies

AMLP is traded in USD, while ENB-PP.TO is traded in CAD. To make them comparable, the ENB-PP.TO values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, AMLP achieves a 15.29% return, which is significantly higher than ENB-PP.TO's 7.63% return. Over the past 10 years, AMLP has underperformed ENB-PP.TO with an annualized return of 6.92%, while ENB-PP.TO has yielded a comparatively higher 10.54% annualized return.

AMLP

1D
-0.34%
1M
-3.23%
YTD
15.29%
6M
14.35%
1Y
15.02%
3Y*
20.22%
5Y*
15.26%
10Y*
6.92%

ENB-PP.TO

1D
0.07%
1M
-2.81%
YTD
7.63%
6M
10.07%
1Y
21.87%
3Y*
20.61%
5Y*
8.04%
10Y*
10.54%
*Multi-year figures are annualized to reflect compound growth (CAGR)

AMLP vs. ENB-PP.TO - 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%
ENB-PP.TO
Enbridge Inc.		7.63%24.97%20.28%17.54%-22.53%44.86%-1.66%11.22%-22.43%28.12%

Correlation

The correlation between AMLP and ENB-PP.TO is -0.00, 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

-0.00

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

0.10

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

0.18

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

0.21

Correlation (All Time)
Calculated using the full available price history since Sep 13, 2012

0.19

The correlation between AMLP and ENB-PP.TO shifts across timeframes, from -0.00 (1 year) to 0.21 (10 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

Enbridge Inc.

Often compared with AMLP:
AMLP vs. MLPAAMLP vs. ENFRAMLP vs. XLEAMLP vs. SPYAMLP vs. ETAMLP vs. VDEAMLP vs. KYN
Often compared with ENB-PP.TO:
ENB-PP.TO vs. ENB-PD.TOENB-PP.TO vs. T.TOENB-PP.TO vs. BNS.TOENB-PP.TO vs. ENBENB-PP.TO vs. XEI.TOENB-PP.TO vs. ZWC.TOENB-PP.TO vs. ZWB.TO

Return for Risk

AMLP vs. ENB-PP.TO — 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
ENB-PP.TO
ENB-PP.TO Risk / Return Rank: 9797
Overall Rank
ENB-PP.TO Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
ENB-PP.TO Sortino Ratio Rank: 9898
Sortino Ratio Rank
ENB-PP.TO Omega Ratio Rank: 9898
Omega Ratio Rank
ENB-PP.TO Calmar Ratio Rank: 9494
Calmar Ratio Rank
ENB-PP.TO Martin Ratio Rank: 9797
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. ENB-PP.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alerian MLP ETF (AMLP) and Enbridge Inc. (ENB-PP.TO). 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.

AMLPENB-PP.TODifference
Sharpe ratioReturn per unit of total volatility
1.25
2.57

-1.32

Sortino ratioReturn per unit of downside risk
1.79
3.85

-2.06

Omega ratioGain probability vs. loss probability

1.22

1.47

-0.25

Calmar ratioReturn relative to maximum drawdown

1.66

4.82

-3.17

Martin ratioReturn relative to average drawdown

5.35

14.65

-9.29

AMLP vs. ENB-PP.TO - Sharpe Ratio Comparison

The current AMLP Sharpe Ratio is 1.25, which is lower than the ENB-PP.TO Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of AMLP and ENB-PP.TO, 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. ENB-PP.TO - Drawdown Comparison

The maximum AMLP drawdown since its inception was -77.19%, which is greater than ENB-PP.TO's maximum drawdown of -64.12%. Use the drawdown chart below to compare losses from any high point for AMLP and ENB-PP.TO.

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Drawdown Indicators

AMLPENB-PP.TODifference

Max Drawdown

Largest peak-to-trough decline

-77.19%

-64.12%

-13.07%

Max Drawdown (1Y)

Largest decline over 1 year

-8.94%

-4.70%

-4.24%

Max Drawdown (3Y)

Largest decline over 3 years

-14.27%

-10.26%

-4.01%

Max Drawdown (5Y)

Largest decline over 5 years

-20.92%

-33.10%

+12.18%

Max Drawdown (10Y)

Largest decline over 10 years

-72.62%

-57.82%

-14.80%

Current Drawdown

Current decline from peak

-4.94%

-2.81%

-2.13%

Average Drawdown

Average peak-to-trough decline

-17.37%

-21.31%

+3.94%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.77%

1.54%

+1.23%

Volatility

AMLP vs. ENB-PP.TO - Volatility Comparison

Alerian MLP ETF (AMLP) has a higher volatility of 4.71% compared to Enbridge Inc. (ENB-PP.TO) at 1.87%. This indicates that AMLP's price experiences larger fluctuations and is considered to be riskier than ENB-PP.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

AMLPENB-PP.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.71%

1.87%

+2.84%

Volatility (6M)

Calculated over the trailing 6-month period

8.77%

5.85%

+2.92%

Volatility (1Y)

Calculated over the trailing 1-year period

11.84%

8.81%

+3.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.95%

14.48%

+5.47%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.67%

19.01%

+8.66%

Dividends

AMLP vs. ENB-PP.TO - Dividend Comparison

AMLP's dividend yield for the trailing twelve months is around 7.71%, more than ENB-PP.TO's 6.15% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
ENB-PP.TO
Enbridge Inc.		6.15%6.55%6.81%6.54%5.26%4.14%7.62%6.60%6.15%4.92%5.59%5.93%

Frequently Asked Questions

AMLP and ENB-PP.TO have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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