EMLP vs. MLPB
EMLP (First Trust North American Energy Infrastructure Fund) and MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B) are both MLPs funds. EMLP is actively managed, while MLPB is passively managed. Over the past 10 years, EMLP returned 10.24%/yr vs 10.20%/yr for MLPB. A 0.62 correlation means they provide meaningful diversification when combined. EMLP charges 0.96%/yr vs 0.85%/yr for MLPB.
Performance
EMLP vs. MLPB - Performance Comparison
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Returns By Period
In the year-to-date period, EMLP achieves a 14.62% return, which is significantly lower than MLPB's 19.72% return. Both investments have delivered pretty close results over the past 10 years, with EMLP having a 10.24% annualized return and MLPB not far behind at 10.20%.
EMLP
- 1D
- -0.07%
- 1M
- -3.08%
- YTD
- 14.62%
- 6M
- 13.20%
- 1Y
- 18.77%
- 3Y*
- 21.22%
- 5Y*
- 15.47%
- 10Y*
- 10.24%
MLPB
- 1D
- -0.05%
- 1M
- -0.42%
- YTD
- 19.72%
- 6M
- 18.24%
- 1Y
- 20.60%
- 3Y*
- 22.21%
- 5Y*
- 19.42%
- 10Y*
- 10.20%
EMLP vs. MLPB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMLP First Trust North American Energy Infrastructure Fund | 14.62% | 9.67% | 33.39% | 8.05% | 10.39% | 23.20% | -13.36% | 23.40% | -8.70% | 1.07% |
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 19.72% | 7.40% | 25.53% | 22.01% | 30.22% | 39.42% | -30.80% | 5.69% | -8.79% | -9.71% |
Correlation
The correlation between EMLP and MLPB is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015 | 0.62 |
The correlation between EMLP and MLPB shifts across timeframes, from 0.62 (all time) to 0.79 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EMLP vs. MLPB — Risk / Return Rank
EMLP
MLPB
EMLP vs. MLPB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust North American Energy Infrastructure Fund (EMLP) and ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB). 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.
| EMLP | MLPB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.35 | ||
| Sortino ratioReturn per unit of downside risk | +0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.26 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.82 | 2.14 | +1.68 |
| Martin ratioReturn relative to average drawdown | 12.42 | 6.60 | +5.82 |
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
| EMLP | MLPB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.89 | 1.54 | +0.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.07 | 0.97 | +0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.58 | 0.37 | +0.22 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.24 | +0.33 |
Drawdowns
EMLP vs. MLPB - Drawdown Comparison
The maximum EMLP drawdown since its inception was -43.61%, smaller than the maximum MLPB drawdown of -71.93%. Use the drawdown chart below to compare losses from any high point for EMLP and MLPB.
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Drawdown Indicators
| EMLP | MLPB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.61% | -71.93% | +28.32% |
Max Drawdown (1Y)Largest decline over 1 year | -4.94% | -9.68% | +4.74% |
Max Drawdown (3Y)Largest decline over 3 years | -11.47% | -16.49% | +5.02% |
Max Drawdown (5Y)Largest decline over 5 years | -14.59% | -20.41% | +5.82% |
Max Drawdown (10Y)Largest decline over 10 years | -43.61% | -71.93% | +28.32% |
Current DrawdownCurrent decline from peak | -3.62% | -4.69% | +1.07% |
Average DrawdownAverage peak-to-trough decline | -5.76% | -14.83% | +9.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.52% | 3.13% | -1.61% |
Volatility
EMLP vs. MLPB - Volatility Comparison
The current volatility for First Trust North American Energy Infrastructure Fund (EMLP) is 4.10%, while ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB) has a volatility of 5.40%. This indicates that EMLP experiences smaller price fluctuations and is considered to be less risky than MLPB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMLP | MLPB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.10% | 5.40% | -1.30% |
Volatility (6M)Calculated over the trailing 6-month period | 7.87% | 10.05% | -2.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.97% | 13.51% | -3.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.53% | 20.03% | -5.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.69% | 28.11% | -10.42% |
EMLP vs. MLPB - Expense Ratio Comparison
EMLP has a 0.96% expense ratio, which is higher than MLPB's 0.85% expense ratio.
Dividends
EMLP vs. MLPB - Dividend Comparison
EMLP's dividend yield for the trailing twelve months is around 2.79%, less than MLPB's 5.85% 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% |
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 5.85% | 6.51% | 5.95% | 6.37% | 6.00% | 6.98% | 11.93% | 7.98% | 8.11% | 7.23% | 6.85% | 0.00% |
Frequently Asked Questions
EMLP and MLPB have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MLPB has higher volatility (5.40%) compared to EMLP (4.10%). In terms of maximum drawdown, EMLP dropped -43.61% vs MLPB's -71.93%.
On 10-year performance, EMLP leads with 10.24% vs 10.20% for MLPB. On fees, MLPB is cheaper at 0.85% per year. On volatility, EMLP has been the lower-risk option at 4.10%. 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 10.24% return vs 10.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MLPB is cheaper with a 0.85% expense ratio, compared with 0.96% for EMLP.
MLPB has the higher dividend yield at 5.85%, compared with 2.79% for EMLP.
They also come from different issuers: First Trust and UBS. Their fees differ too: 0.96% for EMLP and 0.85% for MLPB.
EMLP currently has the higher Sharpe Ratio (1.89 vs 1.54), 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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