EMLP vs. MPLX
EMLP (First Trust North American Energy Infrastructure Fund) is Infrastructure Equities fund actively managed by First Trust, while MPLX (MPLX LP) is a stock. Over the past 10 years, EMLP returned 10.12%/yr vs 16.18%/yr for MPLX. Their 0.56 correlation means they have sometimes moved together and sometimes differently.
Performance
EMLP vs. MPLX - Performance Comparison
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Returns By Period
In the year-to-date period, EMLP achieves a 17.75% return, which is significantly higher than MPLX's 13.84% return. Over the past 10 years, EMLP has underperformed MPLX with an annualized return of 10.12%, while MPLX has yielded a comparatively higher 16.18% 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%
MPLX
- 1D
- 1.46%
- 1M
- 2.26%
- 6M
- 8.69%
- YTD
- 13.84%
- 1Y
- 21.94%
- 3Y*
- 28.15%
- 5Y*
- 26.27%
- 10Y*
- 16.18%
- ALL TIME*
- 14.28%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $12.88M | $10.50M | $12.16M | |
MPLX MPLX LP | $99.98M | $86.91M | $97.76M |
EMLP vs. MPLX - 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% |
MPLX MPLX LP | 13.84% | 20.54% | 41.72% | 22.46% | 21.09% | 53.92% | -1.79% | -8.25% | -8.43% | 9.00% |
Correlation
The correlation between EMLP and MPLX is 0.56, 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. | 0.56 |
Correlation (3Y) Balances recent behavior with more history. | 0.63 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.66 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.62 |
Correlation (All Time) Calculated using the full available price history since Oct 26, 2012 | 0.56 |
The correlation between EMLP and MPLX has been stable across timeframes, ranging from 0.56 to 0.66 - a consistent structural relationship.
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Return for Risk
EMLP vs. MPLX — Risk / Return Rank
EMLP
MPLX
EMLP vs. MPLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust North American Energy Infrastructure Fund (EMLP) and MPLX LP (MPLX). 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 | MPLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.53 | ||
| Sortino ratioReturn per unit of downside risk | +0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.22 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.72 | 2.66 | +1.06 |
| Martin ratioReturn relative to average drawdown | 10.54 | 6.14 | +4.39 |
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Drawdowns
EMLP vs. MPLX - Drawdown Comparison
The maximum EMLP drawdown since its inception was -43.61%, smaller than the maximum MPLX drawdown of -85.72%. Use the drawdown chart below to compare losses from any high point for EMLP and MPLX.
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Drawdown Indicators
| EMLP | MPLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.61% | -85.72% | +42.11% |
Max Drawdown (1Y)Largest decline over 1 year | -4.94% | -7.71% | +2.77% |
Max Drawdown (3Y)Largest decline over 3 years | -11.47% | -14.58% | +3.11% |
Max Drawdown (5Y)Largest decline over 5 years | -14.59% | -18.46% | +3.87% |
Max Drawdown (10Y)Largest decline over 10 years | -43.61% | -75.21% | +31.60% |
Current DrawdownCurrent decline from peak | -1.94% | -1.27% | -0.67% |
Average DrawdownAverage peak-to-trough decline | -5.71% | -29.68% | +23.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.74% | 3.33% | -1.59% |
Volatility
EMLP vs. MPLX - Volatility Comparison
The current volatility for First Trust North American Energy Infrastructure Fund (EMLP) is 3.87%, while MPLX LP (MPLX) has a volatility of 5.31%. This indicates that EMLP experiences smaller price fluctuations and is considered to be less risky than MPLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMLP | MPLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.87% | 5.31% | -1.44% |
Volatility (6M)Calculated over the trailing 6-month period | 8.48% | 11.75% | -3.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.36% | 16.45% | -6.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.49% | 18.96% | -4.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.67% | 30.42% | -12.75% |
Dividends
EMLP vs. MPLX - Dividend Comparison
EMLP's dividend yield for the trailing twelve months is around 2.76%, less than MPLX's 7.16% 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% |
MPLX MPLX LP | 7.16% | 7.39% | 7.33% | 8.65% | 8.80% | 11.30% | 12.70% | 10.41% | 8.22% | 6.23% | 5.86% | 4.33% |
Frequently Asked Questions
EMLP and MPLX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MPLX has higher volatility (5.31%) compared to EMLP (3.87%). In terms of maximum drawdown, EMLP dropped -43.61% vs MPLX's -85.72%.
EMLP currently has the higher Sharpe Ratio (1.78 vs 1.25), 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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