EMLP vs. BILD

Last updated Aug 2, 2026

EMLP (First Trust North American Energy Infrastructure Fund) and BILD (Macquarie Global Listed Infrastructure ETF) are both Infrastructure Equities funds. Both are actively managed. Over the past year, EMLP returned 19.09% vs 16.75% for BILD. Their 0.59 correlation means they have sometimes moved together and sometimes differently. EMLP charges 0.96%/yr vs 0.49%/yr for BILD.

Performance

EMLP vs. BILD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust North American Energy Infrastructure Fund (EMLP) and Macquarie Global Listed Infrastructure ETF (BILD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EMLP achieves a 17.75% return, which is significantly higher than BILD's 10.49% return.

EMLP

• 1D: 0.37%
• 1M: 0.62%
• 6M: 11.20%
• YTD: 17.75%
• 1Y: 19.09%
• 3Y*: 20.43%
• 5Y*: 16.56%
• 10Y*: 10.12%
• ALL TIME*: 9.68%

BILD

• 1D: -0.47%
• 1M: 0.88%
• 6M: 6.26%
• YTD: 10.49%
• 1Y: 16.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.91%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BILD Macquarie Global Listed Infrastructure ETF	$632.99	$26.02K	$12.55K
EMLP First Trust North American Energy Infrastructure Fund	$12.88M	$10.50M	$12.16M

EMLP vs. BILD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EMLP First Trust North American Energy Infrastructure Fund	17.75%	9.67%	33.39%	2.25%
BILD Macquarie Global Listed Infrastructure ETF	10.49%	21.08%	-2.68%	3.73%

Correlation

The correlation between EMLP and BILD is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.62
Correlation (All Time) Calculated using the full available price history since Nov 29, 2023	0.59

The correlation between EMLP and BILD has been stable across timeframes, ranging from 0.59 to 0.62 - a consistent structural relationship.

EMLP vs. BILD - Sectors Allocation Comparison

Sectors	EMLP	BILD
Utilities	55.2%	48.8%
Energy	25.9%	19.0%
Industrials	8.6%	22.0%
Basic Materials	1.7%	-
Communication Services	-	4.7%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	1.7%
Healthcare	-	-
Real Estate	-	1.9%
Technology	-	-

Return for Risk

EMLP vs. BILD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

EMLP

EMLP Risk / Return Rank: 80
EMLP Sharpe Ratio Rank: 78
EMLP Sortino Ratio Rank: 80
EMLP Omega Ratio Rank: 73
EMLP Calmar Ratio Rank: 89
EMLP Martin Ratio Rank: 81

BILD

BILD Risk / Return Rank: 70
BILD Sharpe Ratio Rank: 72
BILD Sortino Ratio Rank: 68
BILD Omega Ratio Rank: 70
BILD Calmar Ratio Rank: 82
BILD Martin Ratio Rank: 59

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

EMLP vs. BILD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust North American Energy Infrastructure Fund (EMLP) and Macquarie Global Listed Infrastructure ETF (BILD). 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.

	EMLP	BILD	Difference
Sharpe ratio: Return per unit of total volatility	1.78	1.64	+0.14
Sortino ratio: Return per unit of downside risk	2.61	2.24	+0.37
Omega ratio: Gain probability vs. loss probability	1.30	1.29	+0.01
Calmar ratio: Return relative to maximum drawdown	3.72	2.98	+0.75
Martin ratio: Return relative to average drawdown	10.54	7.11	+3.43

EMLP vs. BILD - Sharpe Ratio Comparison

The current EMLP Sharpe Ratio is 1.78, which is comparable to the BILD Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of EMLP and BILD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EMLP vs. BILD - Drawdown Comparison

The maximum EMLP drawdown since its inception was -43.61%, which is greater than BILD's maximum drawdown of -14.78%. Use the drawdown chart below to compare losses from any high point for EMLP and BILD.

Drawdown Indicators

	EMLP	BILD	Difference
Max Drawdown Largest peak-to-trough decline	-43.61%	-14.78%	-28.83%
Max Drawdown (1Y) Largest decline over 1 year	-4.94%	-6.05%	+1.11%
Max Drawdown (3Y) Largest decline over 3 years	-11.47%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.59%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-43.61%	—	—
Current Drawdown Current decline from peak	-1.94%	-2.17%	+0.23%
Average Drawdown Average peak-to-trough decline	-5.71%	-3.68%	-2.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	2.53%	-0.79%

Volatility

EMLP vs. BILD - Volatility Comparison

First Trust North American Energy Infrastructure Fund (EMLP) has a higher volatility of 3.87% compared to Macquarie Global Listed Infrastructure ETF (BILD) at 3.28%. This indicates that EMLP's price experiences larger fluctuations and is considered to be riskier than BILD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EMLP	BILD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.87%	3.28%	+0.59%
Volatility (6M) Calculated over the trailing 6-month period	8.48%	9.08%	-0.60%
Volatility (1Y) Calculated over the trailing 1-year period	10.36%	11.00%	-0.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.49%	13.08%	+1.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.67%	13.08%	+4.59%

EMLP vs. BILD - Expense Ratio Comparison

EMLP has a 0.96% expense ratio, which is higher than BILD's 0.49% expense ratio.

Dividends

EMLP vs. BILD - Dividend Comparison

EMLP's dividend yield for the trailing twelve months is around 2.76%, less than BILD's 4.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BILD Macquarie Global Listed Infrastructure ETF	4.67%	3.05%	5.53%	0.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EMLP First Trust North American Energy Infrastructure Fund	2.76%	3.18%	3.19%	3.92%	3.15%	3.29%	4.70%	3.71%	4.71%	3.80%	3.62%	4.63%

Frequently Asked Questions

Can I hold both EMLP and BILD in my portfolio?

EMLP and BILD have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EMLP or BILD?

EMLP has higher volatility (3.87%) compared to BILD (3.28%). In terms of maximum drawdown, EMLP dropped -43.61% vs BILD's -14.78%.

Which ETF is better, EMLP or BILD?

On 1-year performance, EMLP leads with 19.09% vs 16.75% for BILD. On fees, BILD is cheaper at 0.49% per year. On volatility, BILD has been the lower-risk option at 3.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EMLP or BILD?

Over the 1-year period, EMLP has performed better with a 19.09% return vs 16.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EMLP or BILD?

BILD is cheaper with a 0.49% expense ratio, compared with 0.96% for EMLP.

Which ETF pays a higher dividend yield, EMLP or BILD?

BILD has the higher dividend yield at 4.67%, compared with 2.76% for EMLP.

What is the main difference between EMLP and BILD?

They also come from different issuers: First Trust and Macquarie. Their fees differ too: 0.96% for EMLP and 0.49% for BILD.

Which has better risk-adjusted returns?

EMLP currently has the higher Sharpe Ratio (1.78 vs 1.64), 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.