APP vs. MLPX
APP (AppLovin Corporation) is a stock, while MLPX (Global X MLP & Energy Infrastructure ETF) is Infrastructure Equities fund tracking the Solactive MLP & Energy Infrastructure Index. Over the past 5 years, APP returned 45.14%/yr vs 22.92%/yr for MLPX. Their 0.20 correlation means their historical movements had little consistent relationship.
Performance
APP vs. MLPX - Performance Comparison
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Returns By Period
In the year-to-date period, APP achieves a -41.25% return, which is significantly lower than MLPX's 26.75% return.
APP
- 1D
- -1.97%
- 1M
- -24.89%
- 6M
- -16.32%
- YTD
- -41.25%
- 1Y
- 4.41%
- 3Y*
- 132.67%
- 5Y*
- 45.14%
- 10Y*
- —
- ALL TIME*
- 38.74%
MLPX
- 1D
- 0.31%
- 1M
- 2.91%
- 6M
- 17.40%
- YTD
- 26.75%
- 1Y
- 26.87%
- 3Y*
- 26.63%
- 5Y*
- 22.92%
- 10Y*
- 12.35%
- ALL TIME*
- 9.35%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.74B | $2.73B | $2.75B | |
| $36.85M | $35.99M | $31.05M |
APP vs. MLPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
APP AppLovin Corporation | -41.25% | 108.08% | 712.62% | 278.44% | -88.83% | 34.66% |
MLPX Global X MLP & Energy Infrastructure ETF | 26.75% | 4.96% | 42.90% | 15.77% | 21.54% | 14.92% |
Correlation
The correlation between APP and MLPX is -0.13, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.13 |
Correlation (3Y) Balances recent behavior with more history. | 0.14 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.20 |
Correlation (All Time) Calculated using the full available price history since Apr 15, 2021 | 0.20 |
The correlation between APP and MLPX shifts across timeframes, from -0.13 (1 year) to 0.20 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
APP vs. MLPX — Risk / Return Rank
APP
MLPX
APP vs. MLPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AppLovin Corporation (APP) and Global X MLP & Energy Infrastructure ETF (MLPX). 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.
| APP | MLPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.69 | ||
| Sortino ratioReturn per unit of downside risk | -1.88 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.29 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.03 | 3.27 | -3.24 |
| Martin ratioReturn relative to average drawdown | 0.05 | 7.63 | -7.59 |
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Drawdowns
APP vs. MLPX - Drawdown Comparison
The maximum APP drawdown since its inception was -91.90%, which is greater than MLPX's maximum drawdown of -70.67%. Use the drawdown chart below to compare losses from any high point for APP and MLPX.
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Drawdown Indicators
| APP | MLPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.90% | -70.67% | -21.23% |
Max Drawdown (1Y)Largest decline over 1 year | -49.99% | -8.18% | -41.81% |
Max Drawdown (3Y)Largest decline over 3 years | -57.00% | -16.77% | -40.23% |
Max Drawdown (5Y)Largest decline over 5 years | -91.90% | -19.72% | -72.18% |
Max Drawdown (10Y)Largest decline over 10 years | — | -64.70% | — |
Current DrawdownCurrent decline from peak | -46.03% | -3.27% | -42.76% |
Average DrawdownAverage peak-to-trough decline | -42.38% | -16.47% | -25.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.35% | 3.49% | +24.86% |
Volatility
APP vs. MLPX - Volatility Comparison
AppLovin Corporation (APP) has a higher volatility of 17.94% compared to Global X MLP & Energy Infrastructure ETF (MLPX) at 5.46%. This indicates that APP's price experiences larger fluctuations and is considered to be riskier than MLPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APP | MLPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.94% | 5.46% | +12.48% |
Volatility (6M)Calculated over the trailing 6-month period | 60.50% | 12.52% | +47.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 73.25% | 15.68% | +57.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 78.11% | 19.90% | +58.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 77.32% | 26.14% | +51.18% |
Dividends
APP vs. MLPX - Dividend Comparison
APP has not paid dividends to shareholders, while MLPX's dividend yield for the trailing twelve months is around 4.05%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
APP AppLovin Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MLPX Global X MLP & Energy Infrastructure ETF | 4.05% | 4.88% | 4.30% | 5.22% | 5.23% | 5.98% | 8.32% | 5.78% | 5.77% | 4.36% | 5.50% | 4.81% |
Frequently Asked Questions
APP and MLPX have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
APP has higher volatility (17.94%) compared to MLPX (5.46%). In terms of maximum drawdown, APP dropped -91.90% vs MLPX's -70.67%.
MLPX currently has the higher Sharpe Ratio (1.71 vs 0.02), 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.
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