AMUB vs. MLPB

Last updated Jun 3, 2026

AMUB (ETRACS Alerian MLP Index ETN Class B) and MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B) are both MLPs funds from UBS - AMUB tracks the Alerian MLP Index while MLPB tracks the Alerian MLP Infrastructure Index. Both are passively managed. Over the past 10 years, AMUB returned 3.08%/yr vs 10.21%/yr for MLPB. Their correlation of 0.88 suggests significant overlap in exposure. AMUB charges 0.80%/yr vs 0.85%/yr for MLPB.

Performance

AMUB vs. MLPB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS Alerian MLP Index ETN Class B (AMUB) and ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AMUB achieves a 17.24% return, which is significantly lower than MLPB's 19.79% return. Over the past 10 years, AMUB has underperformed MLPB with an annualized return of 3.08%, while MLPB has yielded a comparatively higher 10.21% annualized return.

AMUB

• 1D: 1.02%
• 1M: -1.02%
• YTD: 17.24%
• 6M: 16.74%
• 1Y: 17.83%
• 3Y*: 15.89%
• 5Y*: 12.50%
• 10Y*: 3.08%

MLPB

• 1D: 1.09%
• 1M: 0.21%
• YTD: 19.79%
• 6M: 19.70%
• 1Y: 22.49%
• 3Y*: 22.24%
• 5Y*: 19.55%
• 10Y*: 10.21%

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

AMUB vs. MLPB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AMUB ETRACS Alerian MLP Index ETN Class B	17.24%	2.05%	15.68%	16.89%	21.91%	28.83%	-36.47%	-1.78%	-19.25%	-13.07%
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B	19.79%	7.40%	25.53%	22.01%	30.22%	39.42%	-30.80%	5.69%	-8.79%	-9.71%

Correlation

The correlation between AMUB and MLPB is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015	0.88

The correlation between AMUB and MLPB has been stable across timeframes, ranging from 0.88 to 0.97 - a consistent structural relationship.

Return for Risk

AMUB vs. MLPB — Risk / Return Rank

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

AMUB

AMUB Risk / Return Rank: 35
AMUB Sharpe Ratio Rank: 36
AMUB Sortino Ratio Rank: 35
AMUB Omega Ratio Rank: 34
AMUB Calmar Ratio Rank: 34
AMUB Martin Ratio Rank: 33

MLPB

MLPB Risk / Return Rank: 46
MLPB Sharpe Ratio Rank: 48
MLPB Sortino Ratio Rank: 47
MLPB Omega Ratio Rank: 44
MLPB Calmar Ratio Rank: 48
MLPB Martin Ratio Rank: 45

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.

AMUB vs. MLPB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ETRACS Alerian MLP Index ETN Class B (AMUB) and ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB). 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.

	AMUB	MLPB	Difference
Sharpe ratio Return per unit of total volatility	1.32	1.67	-0.35
Sortino ratio Return per unit of downside risk	1.88	2.33	-0.45
Omega ratio Gain probability vs. loss probability	1.23	1.28	-0.06
Calmar ratio Return relative to maximum drawdown	1.74	2.43	-0.69
Martin ratio Return relative to average drawdown	5.17	7.55	-2.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AMUB vs. MLPB - Sharpe Ratio Comparison

The current AMUB Sharpe Ratio is 1.32, which is comparable to the MLPB Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of AMUB and MLPB, 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

	AMUB	MLPB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	1.67	-0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.98	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.11	0.37	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	0.24	-0.23

Drawdowns

AMUB vs. MLPB - Drawdown Comparison

The maximum AMUB drawdown since its inception was -79.46%, which is greater than MLPB's maximum drawdown of -71.93%. Use the drawdown chart below to compare losses from any high point for AMUB and MLPB.

Drawdown Indicators

	AMUB	MLPB	Difference
Max Drawdown Largest peak-to-trough decline	-79.46%	-71.93%	-7.53%
Max Drawdown (1Y) Largest decline over 1 year	-10.37%	-9.68%	-0.69%
Max Drawdown (3Y) Largest decline over 3 years	-17.22%	-16.49%	-0.73%
Max Drawdown (5Y) Largest decline over 5 years	-20.58%	-20.41%	-0.17%
Max Drawdown (10Y) Largest decline over 10 years	-78.86%	-71.93%	-6.93%
Current Drawdown Current decline from peak	-5.94%	-4.64%	-1.30%
Average Drawdown Average peak-to-trough decline	-29.23%	-14.83%	-14.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.49%	3.12%	+0.37%

Volatility

AMUB vs. MLPB - Volatility Comparison

ETRACS Alerian MLP Index ETN Class B (AMUB) and ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB) have volatilities of 5.50% and 5.43%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AMUB	MLPB	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.50%	5.43%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	9.84%	10.05%	-0.21%
Volatility (1Y) Calculated over the trailing 1-year period	13.61%	13.53%	+0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.24%	20.03%	+0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.09%	28.11%	-1.02%

AMUB vs. MLPB - Expense Ratio Comparison

AMUB has a 0.80% expense ratio, which is lower than MLPB's 0.85% expense ratio.

Dividends

AMUB vs. MLPB - Dividend Comparison

AMUB has not paid dividends to shareholders, while MLPB's dividend yield for the trailing twelve months is around 5.85%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
AMUB ETRACS Alerian MLP Index ETN Class B	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B	5.85%	6.51%	5.95%	6.37%	6.00%	6.98%	11.93%	7.98%	8.11%	7.23%	6.85%

Frequently Asked Questions

Can I hold both AMUB and MLPB in my portfolio?

With a correlation of 0.93, AMUB and MLPB 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, AMUB or MLPB?

AMUB has higher volatility (5.50%) compared to MLPB (5.43%). In terms of maximum drawdown, AMUB dropped -79.46% vs MLPB's -71.93%.

Which ETF is better, AMUB or MLPB?

On 10-year performance, MLPB leads with 10.21% vs 3.08% for AMUB. On fees, AMUB is cheaper at 0.80% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AMUB or MLPB?

Over the 10-year period, MLPB has performed better with a 10.21% return vs 3.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AMUB or MLPB?

AMUB is cheaper with a 0.80% expense ratio, compared with 0.85% for MLPB.

Which ETF pays a higher dividend yield, AMUB or MLPB?

MLPB has the higher dividend yield at 5.85%, compared with 0.00% for AMUB.

What is the main difference between AMUB and MLPB?

AMUB tracks Alerian MLP Index, while MLPB tracks Alerian MLP Infrastructure Index. Their fees differ too: 0.80% for AMUB and 0.85% for MLPB.

Which has better risk-adjusted returns?

MLPB currently has the higher Sharpe Ratio (1.67 vs 1.32), 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.