EMLP vs. IYW
EMLP (First Trust North American Energy Infrastructure Fund) and IYW (iShares U.S. Technology ETF) are both exchange-traded funds - EMLP is a Infrastructure Equities fund actively managed by First Trust, while IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index. EMLP is actively managed, while IYW is passively managed. Over the past 10 years, EMLP returned 10.12%/yr vs 24.38%/yr for IYW. Their 0.37 correlation means their historical movements had little consistent relationship. EMLP charges 0.96%/yr vs 0.38%/yr for IYW.
Performance
EMLP vs. IYW - Performance Comparison
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Returns By Period
In the year-to-date period, EMLP achieves a 17.75% return, which is significantly lower than IYW's 19.29% return. Over the past 10 years, EMLP has underperformed IYW with an annualized return of 10.12%, while IYW has yielded a comparatively higher 24.38% annualized 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%
IYW
- 1D
- 0.46%
- 1M
- -2.23%
- 6M
- 20.08%
- YTD
- 19.29%
- 1Y
- 34.47%
- 3Y*
- 28.25%
- 5Y*
- 18.55%
- 10Y*
- 24.38%
- ALL TIME*
- 9.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $12.88M | $10.50M | $12.16M | |
| $125.49M | $126.55M | $189.91M |
EMLP vs. IYW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMLP First Trust North American Energy Infrastructure Fund | 17.75% | 9.67% | 33.39% | 8.05% | 10.39% | 23.20% | -13.36% | 23.40% | -8.70% | 1.07% |
IYW iShares U.S. Technology ETF | 19.29% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 46.64% | -0.93% | 36.60% |
Correlation
The correlation between EMLP and IYW is -0.14, 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. | -0.14 |
Correlation (3Y) Balances recent behavior with more history. | 0.11 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.27 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.33 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2012 | 0.37 |
The correlation between EMLP and IYW shifts across timeframes, from -0.14 (1 year) to 0.37 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EMLP vs. IYW — Risk / Return Rank
EMLP
IYW
EMLP vs. IYW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust North American Energy Infrastructure Fund (EMLP) and iShares U.S. Technology ETF (IYW). 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 | IYW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.77 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.23 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.72 | 1.77 | +1.95 |
| Martin ratioReturn relative to average drawdown | 10.54 | 5.23 | +5.31 |
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Drawdowns
EMLP vs. IYW - Drawdown Comparison
The maximum EMLP drawdown since its inception was -43.61%, smaller than the maximum IYW drawdown of -81.90%. Use the drawdown chart below to compare losses from any high point for EMLP and IYW.
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Drawdown Indicators
| EMLP | IYW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.61% | -81.90% | +38.29% |
Max Drawdown (1Y)Largest decline over 1 year | -4.94% | -17.81% | +12.87% |
Max Drawdown (3Y)Largest decline over 3 years | -11.47% | -26.47% | +15.00% |
Max Drawdown (5Y)Largest decline over 5 years | -14.59% | -39.44% | +24.85% |
Max Drawdown (10Y)Largest decline over 10 years | -43.61% | -39.44% | -4.17% |
Current DrawdownCurrent decline from peak | -1.94% | -8.40% | +6.46% |
Average DrawdownAverage peak-to-trough decline | -5.71% | -34.48% | +28.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.74% | 6.03% | -4.29% |
Volatility
EMLP vs. IYW - Volatility Comparison
The current volatility for First Trust North American Energy Infrastructure Fund (EMLP) is 3.87%, while iShares U.S. Technology ETF (IYW) has a volatility of 7.86%. This indicates that EMLP experiences smaller price fluctuations and is considered to be less risky than IYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMLP | IYW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.87% | 7.86% | -3.99% |
Volatility (6M)Calculated over the trailing 6-month period | 8.48% | 19.90% | -11.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.36% | 23.79% | -13.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.49% | 26.47% | -11.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.67% | 25.36% | -7.69% |
EMLP vs. IYW - Expense Ratio Comparison
EMLP has a 0.96% expense ratio, which is higher than IYW's 0.38% expense ratio.
Dividends
EMLP vs. IYW - Dividend Comparison
EMLP's dividend yield for the trailing twelve months is around 2.76%, more than IYW's 0.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
Frequently Asked Questions
EMLP and IYW have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYW has higher volatility (7.86%) compared to EMLP (3.87%). In terms of maximum drawdown, EMLP dropped -43.61% vs IYW's -81.90%.
On 10-year performance, IYW leads with 24.38% vs 10.12% for EMLP. On fees, IYW is cheaper at 0.38% per year. On volatility, EMLP has been the lower-risk option at 3.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IYW has performed better with a 24.38% return vs 10.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYW is cheaper with a 0.38% expense ratio, compared with 0.96% for EMLP.
EMLP has the higher dividend yield at 2.76%, compared with 0.11% for IYW.
EMLP is categorized as Infrastructure Equities, while IYW is Technology Equities. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.96% for EMLP and 0.38% for IYW.
EMLP currently has the higher Sharpe Ratio (1.78 vs 1.33), 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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