AMLP vs. QQQ

Last updated Jun 3, 2026

AMLP (Alerian MLP ETF) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - AMLP is a MLPs fund tracking the Alerian MLP Infrastructure Index, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, AMLP returned 6.79%/yr vs 21.97%/yr for QQQ. At a 0.33 correlation, their price movements are largely independent. AMLP charges 0.90%/yr vs 0.18%/yr for QQQ.

Performance

AMLP vs. QQQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alerian MLP ETF (AMLP) and Invesco QQQ ETF (QQQ). 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 QQQ's 21.62% return. Over the past 10 years, AMLP has underperformed QQQ with an annualized return of 6.79%, while QQQ has yielded a comparatively higher 21.97% 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%

QQQ

• 1D: 0.46%
• 1M: 10.68%
• YTD: 21.62%
• 6M: 20.27%
• 1Y: 43.30%
• 3Y*: 28.89%
• 5Y*: 18.43%
• 10Y*: 21.97%

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

AMLP vs. QQQ - 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%
QQQ Invesco QQQ ETF	21.62%	20.77%	25.58%	54.86%	-32.58%	27.42%	48.62%	38.96%	-0.13%	32.66%

Correlation

The correlation between AMLP and QQQ is -0.05, 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	-0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (10Y) Calculated over the trailing 10-year period	0.31
Correlation (All Time) Calculated using the full available price history since Aug 26, 2010	0.33

The correlation between AMLP and QQQ shifts across timeframes, from -0.05 (1 year) to 0.33 (all time), reflecting how their relationship changes across market environments.

AMLP vs. QQQ - Sectors Allocation Comparison

Sectors	AMLP	QQQ
Energy	97.7%	0.6%
Utilities	2.3%	1.4%
Basic Materials	-	1.1%
Communication Services	-	15.8%
Consumer Cyclical	-	12.3%
Consumer Defensive	-	7.7%
Financial Services	-	0.2%
Healthcare	-	4.2%
Industrials	-	2.8%
Real Estate	-	0.1%
Technology	-	53.8%

Return for Risk

AMLP vs. QQQ — 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

QQQ

QQQ Risk / Return Rank: 77
QQQ Sharpe Ratio Rank: 83
QQQ Sortino Ratio Rank: 78
QQQ Omega Ratio Rank: 77
QQQ Calmar Ratio Rank: 73
QQQ Martin Ratio Rank: 74

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. QQQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alerian MLP ETF (AMLP) and Invesco QQQ ETF (QQQ). 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	QQQ	Difference
Sharpe ratio Return per unit of total volatility	1.62	2.73	-1.11
Sortino ratio Return per unit of downside risk	2.25	3.55	-1.30
Omega ratio Gain probability vs. loss probability	1.28	1.47	-0.19
Calmar ratio Return relative to maximum drawdown	2.20	3.71	-1.52
Martin ratio Return relative to average drawdown	7.36	14.30	-6.94
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. QQQ - Sharpe Ratio Comparison

The current AMLP Sharpe Ratio is 1.62, which is lower than the QQQ Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of AMLP and QQQ, 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	QQQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.62	2.73	-1.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	0.83	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.25	0.99	-0.74
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	0.41	-0.19

Drawdowns

AMLP vs. QQQ - Drawdown Comparison

The maximum AMLP drawdown since its inception was -77.19%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for AMLP and QQQ.

Drawdown Indicators

	AMLP	QQQ	Difference
Max Drawdown Largest peak-to-trough decline	-77.19%	-82.97%	+5.78%
Max Drawdown (1Y) Largest decline over 1 year	-8.94%	-11.96%	+3.02%
Max Drawdown (3Y) Largest decline over 3 years	-14.27%	-22.77%	+8.50%
Max Drawdown (5Y) Largest decline over 5 years	-20.92%	-35.12%	+14.20%
Max Drawdown (10Y) Largest decline over 10 years	-72.62%	-35.12%	-37.50%
Current Drawdown Current decline from peak	-3.85%	0.00%	-3.85%
Average Drawdown Average peak-to-trough decline	-17.40%	-32.79%	+15.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	3.11%	-0.44%

Volatility

AMLP vs. QQQ - Volatility Comparison

Alerian MLP ETF (AMLP) has a higher volatility of 4.94% compared to Invesco QQQ ETF (QQQ) at 4.48%. This indicates that AMLP's price experiences larger fluctuations and is considered to be riskier than QQQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMLP	QQQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.94%	4.48%	+0.46%
Volatility (6M) Calculated over the trailing 6-month period	8.65%	12.11%	-3.46%
Volatility (1Y) Calculated over the trailing 1-year period	11.91%	15.95%	-4.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.98%	22.39%	-2.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.68%	22.30%	+5.38%

AMLP vs. QQQ - Expense Ratio Comparison

AMLP has a 0.90% expense ratio, which is higher than QQQ's 0.18% expense ratio.

Dividends

AMLP vs. QQQ - Dividend Comparison

AMLP's dividend yield for the trailing twelve months is around 7.62%, more than QQQ's 0.38% 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%
QQQ Invesco QQQ ETF	0.38%	0.45%	0.56%	0.62%	0.80%	0.43%	0.55%	0.74%	0.91%	0.84%	1.06%	0.99%

Frequently Asked Questions

Can I hold both AMLP and QQQ in my portfolio?

AMLP and QQQ have a correlation of -0.05, 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 QQQ?

AMLP has higher volatility (4.94%) compared to QQQ (4.48%). In terms of maximum drawdown, AMLP dropped -77.19% vs QQQ's -82.97%.

Which ETF is better, AMLP or QQQ?

On 10-year performance, QQQ leads with 21.97% vs 6.79% for AMLP. On fees, QQQ is cheaper at 0.18% per year. On volatility, QQQ has been the lower-risk option at 4.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMLP or QQQ?

Over the 10-year period, QQQ has performed better with a 21.97% return vs 6.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMLP or QQQ?

QQQ is cheaper with a 0.18% expense ratio, compared with 0.90% for AMLP.

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

AMLP has the higher dividend yield at 7.62%, compared with 0.38% for QQQ.

What is the main difference between AMLP and QQQ?

AMLP is categorized as MLPs, while QQQ is Nasdaq-100. AMLP tracks Alerian MLP Infrastructure Index, while QQQ tracks NASDAQ-100 Index. They also come from different issuers: SS&C and Invesco. Their fees differ too: 0.90% for AMLP and 0.18% for QQQ.

Which has better risk-adjusted returns?

QQQ currently has the higher Sharpe Ratio (2.73 vs 1.62), 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.