ATMP vs. CAPE
ATMP (Barclays ETN+ Select MLP ETN) and CAPE (iPath Shiller CAPE ETN) are both exchange-traded funds - ATMP is a MLPs fund tracking the CIBC Atlas Select MLP VWAP, while CAPE is a Global Equities fund tracking the Shiller Barclays CAPE US Core Sector Index. Both are passively managed. Over the past 3 years, ATMP returned 21.17%/yr vs 12.19%/yr for CAPE. At a 0.43 correlation, their price movements are largely independent. ATMP charges 0.95%/yr vs 0.45%/yr for CAPE.
Performance
ATMP vs. CAPE - Performance Comparison
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Returns By Period
In the year-to-date period, ATMP achieves a 20.02% return, which is significantly higher than CAPE's -1.70% return.
ATMP
- 1D
- 0.07%
- 1M
- -2.32%
- YTD
- 20.02%
- 6M
- 19.57%
- 1Y
- 18.01%
- 3Y*
- 21.17%
- 5Y*
- 15.87%
- 10Y*
- 4.90%
CAPE
- 1D
- -0.48%
- 1M
- -1.99%
- YTD
- -1.70%
- 6M
- -1.38%
- 1Y
- 3.29%
- 3Y*
- 12.19%
- 5Y*
- —
- 10Y*
- —
ATMP vs. CAPE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ATMP Barclays ETN+ Select MLP ETN | 20.02% | 1.73% | 31.66% | 14.51% | -0.27% |
CAPE iPath Shiller CAPE ETN | -1.70% | 9.10% | 14.40% | 27.65% | -15.28% |
Correlation
The correlation between ATMP and CAPE is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2022 | 0.43 |
Over the past year, the correlation between ATMP and CAPE has dropped to 0.13 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.
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Return for Risk
ATMP vs. CAPE — Risk / Return Rank
ATMP
CAPE
ATMP vs. CAPE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Barclays ETN+ Select MLP ETN (ATMP) and iPath Shiller CAPE ETN (CAPE). 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.
| ATMP | CAPE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.00 | ||
| Sortino ratioReturn per unit of downside risk | +1.35 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.06 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.51 | 0.34 | +2.17 |
| Martin ratioReturn relative to average drawdown | 6.16 | 1.24 | +4.91 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ATMP | CAPE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.31 | 0.30 | +1.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.72 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.18 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 0.42 | -0.33 |
Drawdowns
ATMP vs. CAPE - Drawdown Comparison
The maximum ATMP drawdown since its inception was -80.86%, which is greater than CAPE's maximum drawdown of -22.07%. Use the drawdown chart below to compare losses from any high point for ATMP and CAPE.
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Drawdown Indicators
| ATMP | CAPE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -80.86% | -22.07% | -58.79% |
Max Drawdown (1Y)Largest decline over 1 year | -7.26% | -9.68% | +2.42% |
Max Drawdown (3Y)Largest decline over 3 years | -16.48% | -14.32% | -2.16% |
Max Drawdown (5Y)Largest decline over 5 years | -22.98% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -75.66% | — | — |
Current DrawdownCurrent decline from peak | -6.07% | -4.83% | -1.24% |
Average DrawdownAverage peak-to-trough decline | -31.15% | -4.93% | -26.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.95% | 2.65% | +0.30% |
Volatility
ATMP vs. CAPE - Volatility Comparison
Barclays ETN+ Select MLP ETN (ATMP) has a higher volatility of 5.61% compared to iPath Shiller CAPE ETN (CAPE) at 2.63%. This indicates that ATMP's price experiences larger fluctuations and is considered to be riskier than CAPE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ATMP | CAPE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.61% | 2.63% | +2.98% |
Volatility (6M)Calculated over the trailing 6-month period | 10.72% | 8.04% | +2.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.00% | 10.89% | +3.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.23% | 16.93% | +5.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.68% | 16.93% | +10.75% |
ATMP vs. CAPE - Expense Ratio Comparison
ATMP has a 0.95% expense ratio, which is higher than CAPE's 0.45% expense ratio.
Dividends
ATMP vs. CAPE - Dividend Comparison
ATMP has not paid dividends to shareholders, while CAPE's dividend yield for the trailing twelve months is around 1.41%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
ATMP Barclays ETN+ Select MLP ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
CAPE iPath Shiller CAPE ETN | 1.41% | 1.39% | 1.23% | 1.01% | 0.80% |
Frequently Asked Questions
ATMP and CAPE 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.
ATMP has higher volatility (5.61%) compared to CAPE (2.63%). In terms of maximum drawdown, ATMP dropped -80.86% vs CAPE's -22.07%.
On 3-year performance, ATMP leads with 21.17% vs 12.19% for CAPE. On fees, CAPE is cheaper at 0.45% per year. On volatility, CAPE has been the lower-risk option at 2.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ATMP has performed better with a 21.17% return vs 12.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CAPE is cheaper with a 0.45% expense ratio, compared with 0.95% for ATMP.
CAPE has the higher dividend yield at 1.41%, compared with 0.00% for ATMP.
ATMP is categorized as MLPs, while CAPE is Global Equities. ATMP tracks CIBC Atlas Select MLP VWAP, while CAPE tracks Shiller Barclays CAPE US Core Sector Index. Their fees differ too: 0.95% for ATMP and 0.45% for CAPE.
ATMP currently has the higher Sharpe Ratio (1.31 vs 0.30), 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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