BPH vs. PIPE

Last updated Jul 18, 2026

BPH (BP p.l.c. ADRhedged ETF) and PIPE (Invesco SteelPath MLP & Energy Infrastructure ETF) are both Energy Equities funds. Both are actively managed. At a 0.48 correlation, their price movements are largely independent. BPH charges 0.19%/yr vs 0.75%/yr for PIPE.

Performance

BPH vs. PIPE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BP p.l.c. ADRhedged ETF (BPH) and Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

BPH

• 1D: 2.18%
• 1M: 3.16%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PIPE

• 1D: 0.05%
• 1M: 6.25%
• 6M: 27.56%
• YTD: 31.06%
• 1Y: 35.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BPH vs. PIPE - Yearly Performance Comparison

	2026 (YTD)
BPH BP p.l.c. ADRhedged ETF	-1.42%
PIPE Invesco SteelPath MLP & Energy Infrastructure ETF	-0.96%

Correlation

The correlation between BPH and PIPE is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 26, 2026	0.48

BPH vs. PIPE - Sectors Allocation Comparison

Sectors	BPH	PIPE
Energy	100.0%	88.7%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	1.3%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	1.9%

Return for Risk

BPH vs. PIPE — Risk / Return Rank

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

BPH

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

PIPE

PIPE Risk / Return Rank: 88
PIPE Sharpe Ratio Rank: 91
PIPE Sortino Ratio Rank: 89
PIPE Omega Ratio Rank: 87
PIPE Calmar Ratio Rank: 93
PIPE Martin Ratio Rank: 81

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.

BPH vs. PIPE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BP p.l.c. ADRhedged ETF (BPH) and Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE). 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.

	BPH	PIPE	Difference
Sharpe ratio: Return per unit of total volatility	—	2.39	—
Sortino ratio: Return per unit of downside risk	—	3.22	—
Omega ratio: Gain probability vs. loss probability	—	1.41	—
Calmar ratio: Return relative to maximum drawdown	—	4.84	—
Martin ratio: Return relative to average drawdown	—	11.68	—

Drawdowns

BPH vs. PIPE - Drawdown Comparison

The maximum BPH drawdown since its inception was -15.58%, roughly equal to the maximum PIPE drawdown of -15.69%. Use the drawdown chart below to compare losses from any high point for BPH and PIPE.

Drawdown Indicators

	BPH	PIPE	Difference
Max Drawdown Largest peak-to-trough decline	-15.58%	-15.69%	+0.11%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.33%	—
Current Drawdown Current decline from peak	-4.75%	-1.26%	-3.49%
Average Drawdown Average peak-to-trough decline	-6.68%	-3.99%	-2.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.03%	—

Volatility

Volatility by Period

	BPH	PIPE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.68%	—
Volatility (1Y) Calculated over the trailing 1-year period	28.24%	14.86%	+13.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.24%	18.65%	+9.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.24%	18.65%	+9.59%

BPH vs. PIPE - Expense Ratio Comparison

BPH has a 0.19% expense ratio, which is lower than PIPE's 0.75% expense ratio.

Dividends

BPH vs. PIPE - Dividend Comparison

BPH's dividend yield for the trailing twelve months is around 0.51%, less than PIPE's 3.62% yield.

Position	TTM	2025
BPH BP p.l.c. ADRhedged ETF	0.51%	0.00%
PIPE Invesco SteelPath MLP & Energy Infrastructure ETF	3.62%	3.74%

Frequently Asked Questions

Can I hold both BPH and PIPE in my portfolio?

BPH and PIPE have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BPH or PIPE?

On fees, BPH is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BPH or PIPE?

BPH is cheaper with a 0.19% expense ratio, compared with 0.75% for PIPE.

Which ETF pays a higher dividend yield, BPH or PIPE?

PIPE has the higher dividend yield at 3.62%, compared with 0.51% for BPH.

What is the main difference between BPH and PIPE?

They also come from different issuers: Precidian and Invesco. Their fees differ too: 0.19% for BPH and 0.75% for PIPE.