EMLP vs. MEAR
EMLP (First Trust North American Energy Infrastructure Fund) and MEAR (iShares Short Maturity Municipal Bond ETF) are both exchange-traded funds - EMLP is a MLPs fund actively managed by First Trust, while MEAR is a Municipal Bonds fund actively managed by iShares. Both are actively managed. Over the past 10 years, EMLP returned 10.13%/yr vs 1.78%/yr for MEAR. At a 0.04 correlation, their price movements are largely independent. EMLP charges 0.96%/yr vs 0.25%/yr for MEAR.
Performance
EMLP vs. MEAR - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, EMLP achieves a 14.75% return, which is significantly higher than MEAR's 1.18% return. Over the past 10 years, EMLP has outperformed MEAR with an annualized return of 10.13%, while MEAR has yielded a comparatively lower 1.78% annualized return.
EMLP
- 1D
- 0.47%
- 1M
- -3.16%
- YTD
- 14.75%
- 6M
- 15.27%
- 1Y
- 19.48%
- 3Y*
- 21.80%
- 5Y*
- 15.66%
- 10Y*
- 10.13%
MEAR
- 1D
- 0.06%
- 1M
- 0.39%
- YTD
- 1.18%
- 6M
- 1.24%
- 1Y
- 3.16%
- 3Y*
- 3.47%
- 5Y*
- 2.45%
- 10Y*
- 1.78%
EMLP vs. MEAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMLP First Trust North American Energy Infrastructure Fund | 14.75% | 9.67% | 33.39% | 8.05% | 10.39% | 23.20% | -13.36% | 23.40% | -8.70% | 1.07% |
MEAR iShares Short Maturity Municipal Bond ETF | 1.18% | 3.76% | 3.40% | 3.93% | 0.10% | 0.05% | 1.18% | 1.91% | 1.63% | 1.12% |
Correlation
The correlation between EMLP and MEAR is -0.13, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2015 | 0.04 |
The correlation between EMLP and MEAR shifts across timeframes, from -0.13 (1 year) to 0.05 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
EMLP vs. MEAR — Risk / Return Rank
EMLP
MEAR
EMLP vs. MEAR - 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 Short Maturity Municipal Bond ETF (MEAR). 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 | MEAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -3.07 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.86 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | 3.96 | 6.80 | -2.84 |
| Martin ratioReturn relative to average drawdown | 11.58 | 27.85 | -16.28 |
Loading charts...
Drawdowns
EMLP vs. MEAR - Drawdown Comparison
The maximum EMLP drawdown since its inception was -43.61%, which is greater than MEAR's maximum drawdown of -2.68%. Use the drawdown chart below to compare losses from any high point for EMLP and MEAR.
Loading charts...
Drawdown Indicators
| EMLP | MEAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.61% | -2.68% | -40.93% |
Max Drawdown (1Y)Largest decline over 1 year | -4.94% | -0.47% | -4.47% |
Max Drawdown (3Y)Largest decline over 3 years | -11.47% | -0.86% | -10.61% |
Max Drawdown (5Y)Largest decline over 5 years | -14.59% | -1.12% | -13.47% |
Max Drawdown (10Y)Largest decline over 10 years | -43.61% | -2.68% | -40.93% |
Current DrawdownCurrent decline from peak | -3.51% | 0.00% | -3.51% |
Average DrawdownAverage peak-to-trough decline | -5.75% | -0.19% | -5.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.69% | 0.11% | +1.58% |
Volatility
EMLP vs. MEAR - Volatility Comparison
First Trust North American Energy Infrastructure Fund (EMLP) has a higher volatility of 3.42% compared to iShares Short Maturity Municipal Bond ETF (MEAR) at 0.21%. This indicates that EMLP's price experiences larger fluctuations and is considered to be riskier than MEAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| EMLP | MEAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.42% | 0.21% | +3.21% |
Volatility (6M)Calculated over the trailing 6-month period | 7.89% | 0.61% | +7.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.92% | 0.86% | +9.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.48% | 0.99% | +13.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.69% | 1.51% | +16.18% |
EMLP vs. MEAR - Expense Ratio Comparison
EMLP has a 0.96% expense ratio, which is higher than MEAR's 0.25% expense ratio.
Dividends
EMLP vs. MEAR - Dividend Comparison
EMLP's dividend yield for the trailing twelve months is around 2.79%, less than MEAR's 2.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMLP First Trust North American Energy Infrastructure Fund | 2.79% | 3.18% | 3.19% | 3.92% | 3.15% | 3.29% | 4.70% | 3.71% | 4.71% | 3.80% | 3.62% | 4.63% |
MEAR iShares Short Maturity Municipal Bond ETF | 2.84% | 2.95% | 3.44% | 3.30% | 0.88% | 0.30% | 0.90% | 1.57% | 1.36% | 1.01% | 0.81% | 0.53% |
Frequently Asked Questions
EMLP and MEAR 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.
EMLP has higher volatility (3.42%) compared to MEAR (0.21%). In terms of maximum drawdown, EMLP dropped -43.61% vs MEAR's -2.68%.
On 10-year performance, EMLP leads with 10.13% vs 1.78% for MEAR. On fees, MEAR is cheaper at 0.25% per year. On volatility, MEAR has been the lower-risk option at 0.21%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, EMLP has performed better with a 10.13% return vs 1.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MEAR is cheaper with a 0.25% expense ratio, compared with 0.96% for EMLP.
MEAR has the higher dividend yield at 2.84%, compared with 2.79% for EMLP.
EMLP is categorized as MLPs, while MEAR is Municipal Bonds. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.96% for EMLP and 0.25% for MEAR.
MEAR currently has the higher Sharpe Ratio (3.71 vs 1.98), 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.
Find the right allocation for EMLP and MEAR
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer