ENB-PP.TO vs. AMLP
ENB-PP.TO (Enbridge Inc.) is a stock, while AMLP (Alerian MLP ETF) is MLPs fund tracking the Alerian MLP Infrastructure Index. Over the past 10 years, ENB-PP.TO returned 11.49%/yr vs 7.84%/yr for AMLP. At a 0.17 correlation, their price movements are largely independent.
Performance
ENB-PP.TO vs. AMLP - Performance Comparison
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Different Trading Currencies
ENB-PP.TO is traded in CAD, while AMLP is traded in USD. To make them comparable, the AMLP values have been converted to CAD using the latest available exchange rates.
Returns By Period
In the year-to-date period, ENB-PP.TO achieves a 9.81% return, which is significantly lower than AMLP's 17.63% return. Over the past 10 years, ENB-PP.TO has outperformed AMLP with an annualized return of 11.49%, while AMLP has yielded a comparatively lower 7.84% annualized return.
ENB-PP.TO
- 1D
- 0.25%
- 1M
- -0.91%
- YTD
- 9.81%
- 6M
- 11.64%
- 1Y
- 25.24%
- 3Y*
- 22.41%
- 5Y*
- 11.21%
- 10Y*
- 11.49%
AMLP
- 1D
- -0.16%
- 1M
- -1.34%
- YTD
- 17.63%
- 6M
- 15.98%
- 1Y
- 18.20%
- 3Y*
- 22.02%
- 5Y*
- 18.64%
- 10Y*
- 7.84%
ENB-PP.TO vs. AMLP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ENB-PP.TO Enbridge Inc. | 9.81% | 19.26% | 30.47% | 14.74% | -17.62% | 44.79% | -3.99% | 6.63% | -15.91% | 19.44% |
AMLP Alerian MLP ETF | 17.63% | 0.95% | 33.16% | 18.51% | 33.42% | 39.02% | -33.86% | 1.62% | -5.33% | -14.13% |
Correlation
The correlation between ENB-PP.TO and AMLP is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Sep 13, 2012 | 0.17 |
The correlation between ENB-PP.TO and AMLP shifts across timeframes, from -0.01 (1 year) to 0.18 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
ENB-PP.TO vs. AMLP — Risk / Return Rank
ENB-PP.TO
AMLP
ENB-PP.TO vs. AMLP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Enbridge Inc. (ENB-PP.TO) and Alerian MLP ETF (AMLP). 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.
| ENB-PP.TO | AMLP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.14 | ||
| Sortino ratioReturn per unit of downside risk | +3.44 | ||
| Omega ratioGain probability vs. loss probability | 1.72 | 1.24 | +0.48 |
| Calmar ratioReturn relative to maximum drawdown | 5.99 | 2.27 | +3.71 |
| Martin ratioReturn relative to average drawdown | 25.80 | 6.75 | +19.05 |
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Drawdowns
ENB-PP.TO vs. AMLP - Drawdown Comparison
The maximum ENB-PP.TO drawdown since its inception was -50.40%, smaller than the maximum AMLP drawdown of -71.95%. Use the drawdown chart below to compare losses from any high point for ENB-PP.TO and AMLP.
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Drawdown Indicators
| ENB-PP.TO | AMLP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.40% | -71.95% | +21.55% |
Max Drawdown (1Y)Largest decline over 1 year | -4.25% | -7.67% | +3.42% |
Max Drawdown (3Y)Largest decline over 3 years | -10.83% | -15.06% | +4.23% |
Max Drawdown (5Y)Largest decline over 5 years | -26.27% | -18.50% | -7.77% |
Max Drawdown (10Y)Largest decline over 10 years | -50.40% | -70.59% | +20.19% |
Current DrawdownCurrent decline from peak | -1.31% | -3.32% | +2.01% |
Average DrawdownAverage peak-to-trough decline | -11.22% | -12.63% | +1.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 2.59% | -1.61% |
Volatility
ENB-PP.TO vs. AMLP - Volatility Comparison
The current volatility for Enbridge Inc. (ENB-PP.TO) is 1.49%, while Alerian MLP ETF (AMLP) has a volatility of 5.02%. This indicates that ENB-PP.TO experiences smaller price fluctuations and is considered to be less risky than AMLP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ENB-PP.TO | AMLP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.49% | 5.02% | -3.53% |
Volatility (6M)Calculated over the trailing 6-month period | 4.63% | 9.47% | -4.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.23% | 12.68% | -5.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.68% | 20.73% | -8.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.34% | 28.23% | -10.89% |
Dividends
ENB-PP.TO vs. AMLP - Dividend Comparison
ENB-PP.TO's dividend yield for the trailing twelve months is around 6.15%, less than AMLP's 7.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMLP Alerian MLP ETF | 7.71% | 8.36% | 7.70% | 7.86% | 7.70% | 8.55% | 12.31% | 9.12% | 9.29% | 7.97% | 8.09% | 9.84% |
ENB-PP.TO Enbridge Inc. | 6.15% | 6.55% | 6.81% | 6.54% | 5.26% | 4.14% | 7.62% | 6.60% | 6.15% | 4.92% | 5.59% | 5.93% |
Frequently Asked Questions
ENB-PP.TO and AMLP have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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