AMLP vs. ET

Last updated Aug 2, 2026

AMLP (Alerian MLP ETF) is MLPs fund tracking the Alerian MLP Infrastructure Index, while ET (Energy Transfer LP) is a stock. Over the past 10 years, AMLP returned 7.29%/yr vs 11.35%/yr for ET. Their 0.71 correlation means they have sometimes moved together and sometimes differently.

Performance

AMLP vs. ET - Performance Comparison

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

Returns By Period

In the year-to-date period, AMLP achieves a 22.35% return, which is significantly lower than ET's 27.95% return. Over the past 10 years, AMLP has underperformed ET with an annualized return of 7.29%, while ET has yielded a comparatively higher 11.35% annualized return.

AMLP

• 1D: 0.89%
• 1M: 6.26%
• 6M: 14.99%
• YTD: 22.35%
• 1Y: 21.27%
• 3Y*: 19.27%
• 5Y*: 19.50%
• 10Y*: 7.29%
• ALL TIME*: 5.90%

ET

• 1D: 0.59%
• 1M: 5.33%
• 6M: 14.36%
• YTD: 27.95%
• 1Y: 23.30%
• 3Y*: 24.81%
• 5Y*: 25.10%
• 10Y*: 11.35%
• ALL TIME*: 13.86%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AMLP Alerian MLP ETF	$65.00M	$60.75M	$74.60M
ET Energy Transfer LP	$181.38M	$169.96M	$202.69M

AMLP vs. ET - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMLP Alerian MLP ETF	22.35%	5.78%	22.76%	21.40%	25.47%	39.09%	-32.26%	5.99%	-12.67%	-7.89%
ET Energy Transfer LP	27.95%	-9.37%	53.87%	27.87%	55.74%	42.96%	-44.92%	5.88%	-17.74%	-4.66%

Correlation

The correlation between AMLP and ET is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.71
Correlation (3Y) Balances recent behavior with more history.	0.77
Correlation (5Y) Shows whether the relationship held over a longer period.	0.81
Correlation (10Y) Provides a long-term view across more market conditions.	0.77
Correlation (All Time) Calculated using the full available price history since Aug 25, 2010	0.71

The correlation between AMLP and ET shifts across timeframes, from 0.71 (all time) to 0.81 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

AMLP vs. ET — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

AMLP

AMLP Risk / Return Rank: 66
AMLP Sharpe Ratio Rank: 70
AMLP Sortino Ratio Rank: 68
AMLP Omega Ratio Rank: 65
AMLP Calmar Ratio Rank: 68
AMLP Martin Ratio Rank: 56

ET

ET Risk / Return Rank: 81
ET Sharpe Ratio Rank: 82
ET Sortino Ratio Rank: 80
ET Omega Ratio Rank: 76
ET Calmar Ratio Rank: 85
ET Martin Ratio Rank: 82

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

AMLP vs. ET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alerian MLP ETF (AMLP) and Energy Transfer LP (ET). 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.

	AMLP	ET	Difference
Sharpe ratio: Return per unit of total volatility	1.58	1.33	+0.25
Sortino ratio: Return per unit of downside risk	2.22	2.04	+0.18
Omega ratio: Gain probability vs. loss probability	1.27	1.23	+0.04
Calmar ratio: Return relative to maximum drawdown	2.35	2.69	-0.34
Martin ratio: Return relative to average drawdown	6.55	5.90	+0.65

AMLP vs. ET - Sharpe Ratio Comparison

The current AMLP Sharpe Ratio is 1.58, which is comparable to the ET Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of AMLP and ET, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AMLP vs. ET - Drawdown Comparison

The maximum AMLP drawdown since its inception was -77.19%, smaller than the maximum ET drawdown of -87.81%. Use the drawdown chart below to compare losses from any high point for AMLP and ET.

Drawdown Indicators

	AMLP	ET	Difference
Max Drawdown Largest peak-to-trough decline	-77.19%	-87.81%	+10.62%
Max Drawdown (1Y) Largest decline over 1 year	-8.47%	-8.07%	-0.40%
Max Drawdown (3Y) Largest decline over 3 years	-14.27%	-24.56%	+10.29%
Max Drawdown (5Y) Largest decline over 5 years	-20.92%	-24.56%	+3.64%
Max Drawdown (10Y) Largest decline over 10 years	-72.62%	-72.82%	+0.20%
Current Drawdown Current decline from peak	0.00%	-0.29%	+0.29%
Average Drawdown Average peak-to-trough decline	-17.26%	-25.58%	+8.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	3.69%	-0.49%

Volatility

AMLP vs. ET - Volatility Comparison

The current volatility for Alerian MLP ETF (AMLP) is 3.98%, while Energy Transfer LP (ET) has a volatility of 5.35%. This indicates that AMLP experiences smaller price fluctuations and is considered to be less risky than ET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMLP	ET	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	5.35%	-1.37%
Volatility (6M) Calculated over the trailing 6-month period	9.81%	12.18%	-2.37%
Volatility (1Y) Calculated over the trailing 1-year period	12.55%	16.29%	-3.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.37%	24.35%	-4.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.64%	34.21%	-6.57%

Dividends

AMLP vs. ET - Dividend Comparison

AMLP's dividend yield for the trailing twelve months is around 7.27%, more than ET's 6.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMLP Alerian MLP ETF	7.27%	8.36%	7.70%	7.86%	7.70%	8.55%	12.31%	9.12%	9.29%	7.97%	8.09%	9.84%
ET Energy Transfer LP	6.56%	7.97%	6.51%	8.95%	7.33%	7.41%	17.27%	9.51%	9.24%	6.66%	5.90%	7.42%

Frequently Asked Questions

Can I hold both AMLP and ET in my portfolio?

AMLP and ET have a correlation of 0.71, 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 ET?

ET has higher volatility (5.35%) compared to AMLP (3.98%). In terms of maximum drawdown, AMLP dropped -77.19% vs ET's -87.81%.

Which has better risk-adjusted returns?

AMLP currently has the higher Sharpe Ratio (1.58 vs 1.33), 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.