AMLP vs. MLPA

Last updated Jun 24, 2026

AMLP (Alerian MLP ETF) and MLPA (Global X MLP ETF) are both MLPs funds - AMLP tracks the Alerian MLP Infrastructure Index while MLPA tracks the Solactive MLP Infrastructure Index. Both are passively managed. Over the past 10 years, AMLP returned 6.53%/yr vs 6.04%/yr for MLPA. Their correlation of 0.94 suggests significant overlap in exposure. AMLP charges 0.90%/yr vs 0.77%/yr for MLPA.

Performance

AMLP vs. MLPA - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with AMLP having a 14.23% return and MLPA slightly higher at 14.27%. Over the past 10 years, AMLP has outperformed MLPA with an annualized return of 6.53%, while MLPA has yielded a comparatively lower 6.04% annualized return.

AMLP

• 1D: 1.95%
• 1M: -5.26%
• YTD: 14.23%
• 6M: 13.82%
• 1Y: 15.28%
• 3Y*: 20.10%
• 5Y*: 15.96%
• 10Y*: 6.53%

MLPA

• 1D: 1.78%
• 1M: -4.45%
• YTD: 14.27%
• 6M: 14.04%
• 1Y: 15.23%
• 3Y*: 16.94%
• 5Y*: 14.82%
• 10Y*: 6.04%

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

AMLP vs. MLPA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMLP Alerian MLP ETF	14.23%	5.78%	22.76%	21.40%	25.47%	39.09%	-32.26%	5.99%	-12.67%	-7.89%
MLPA Global X MLP ETF	14.27%	5.73%	20.35%	15.93%	27.03%	39.64%	-33.97%	11.91%	-15.71%	-8.31%

Correlation

The correlation between AMLP and MLPA is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Apr 19, 2012	0.94

The correlation between AMLP and MLPA has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

AMLP vs. MLPA - Sectors Allocation Comparison

Sectors	AMLP	MLPA
Energy	97.7%	96.8%
Utilities	2.3%	3.2%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

AMLP vs. MLPA — Risk / Return Rank

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

AMLP

AMLP Risk / Return Rank: 35
AMLP Sharpe Ratio Rank: 37
AMLP Sortino Ratio Rank: 36
AMLP Omega Ratio Rank: 34
AMLP Calmar Ratio Rank: 36
AMLP Martin Ratio Rank: 35

MLPA

MLPA Risk / Return Rank: 36
MLPA Sharpe Ratio Rank: 37
MLPA Sortino Ratio Rank: 36
MLPA Omega Ratio Rank: 33
MLPA Calmar Ratio Rank: 37
MLPA Martin Ratio Rank: 36

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. MLPA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alerian MLP ETF (AMLP) and Global X MLP ETF (MLPA). 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	MLPA	Difference
Sharpe ratio: Return per unit of total volatility	1.27	1.26	+0.01
Sortino ratio: Return per unit of downside risk	1.81	1.83	-0.02
Omega ratio: Gain probability vs. loss probability	1.22	1.21	+0.01
Calmar ratio: Return relative to maximum drawdown	1.72	1.84	-0.12
Martin ratio: Return relative to average drawdown	5.16	5.17	0.00

AMLP vs. MLPA - Sharpe Ratio Comparison

The current AMLP Sharpe Ratio is 1.27, which is comparable to the MLPA Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of AMLP and MLPA, 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. MLPA - Drawdown Comparison

The maximum AMLP drawdown since its inception was -77.19%, roughly equal to the maximum MLPA drawdown of -78.75%. Use the drawdown chart below to compare losses from any high point for AMLP and MLPA.

Drawdown Indicators

	AMLP	MLPA	Difference
Max Drawdown Largest peak-to-trough decline	-77.19%	-78.75%	+1.56%
Max Drawdown (1Y) Largest decline over 1 year	-8.94%	-8.33%	-0.61%
Max Drawdown (3Y) Largest decline over 3 years	-14.27%	-14.20%	-0.07%
Max Drawdown (5Y) Largest decline over 5 years	-20.92%	-18.75%	-2.17%
Max Drawdown (10Y) Largest decline over 10 years	-72.62%	-74.05%	+1.43%
Current Drawdown Current decline from peak	-5.82%	-5.33%	-0.49%
Average Drawdown Average peak-to-trough decline	-17.36%	-20.21%	+2.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.97%	2.96%	+0.01%

Volatility

AMLP vs. MLPA - Volatility Comparison

Alerian MLP ETF (AMLP) has a higher volatility of 5.02% compared to Global X MLP ETF (MLPA) at 4.66%. This indicates that AMLP's price experiences larger fluctuations and is considered to be riskier than MLPA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMLP	MLPA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.02%	4.66%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	9.02%	8.76%	+0.26%
Volatility (1Y) Calculated over the trailing 1-year period	12.11%	12.14%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.77%	18.08%	+1.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.68%	27.44%	+0.24%

AMLP vs. MLPA - Expense Ratio Comparison

AMLP has a 0.90% expense ratio, which is higher than MLPA's 0.77% expense ratio.

Dividends

AMLP vs. MLPA - Dividend Comparison

AMLP's dividend yield for the trailing twelve months is around 7.78%, more than MLPA's 7.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMLP Alerian MLP ETF	7.78%	8.36%	7.70%	7.86%	7.70%	8.55%	12.31%	9.12%	9.29%	7.97%	8.09%	9.84%
MLPA Global X MLP ETF	7.39%	7.82%	7.25%	7.49%	7.30%	8.72%	13.84%	9.09%	10.00%	8.05%	7.15%	9.29%

Frequently Asked Questions

Can I hold both AMLP and MLPA in my portfolio?

With a correlation of 0.94, AMLP and MLPA 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.

Which is riskier, AMLP or MLPA?

AMLP has higher volatility (5.02%) compared to MLPA (4.66%). In terms of maximum drawdown, AMLP dropped -77.19% vs MLPA's -78.75%.

Which ETF is better, AMLP or MLPA?

On 10-year performance, AMLP leads with 6.53% vs 6.04% for MLPA. On fees, MLPA is cheaper at 0.77% per year. On volatility, MLPA has been the lower-risk option at 4.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMLP or MLPA?

Over the 10-year period, AMLP has performed better with a 6.53% return vs 6.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMLP or MLPA?

MLPA is cheaper with a 0.77% expense ratio, compared with 0.90% for AMLP.

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

AMLP has the higher dividend yield at 7.78%, compared with 7.39% for MLPA.

What is the main difference between AMLP and MLPA?

AMLP tracks Alerian MLP Infrastructure Index, while MLPA tracks Solactive MLP Infrastructure Index. They also come from different issuers: SS&C and Global X. Their fees differ too: 0.90% for AMLP and 0.77% for MLPA.

Which has better risk-adjusted returns?

AMLP currently has the higher Sharpe Ratio (1.27 vs 1.26), 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.