ET vs. AMLP

Last updated Jul 28, 2026

ET (Energy Transfer LP) is a stock, while AMLP (Alerian MLP ETF) is MLPs fund tracking the Alerian MLP Infrastructure Index. Over the past 10 years, ET returned 10.62%/yr vs 6.88%/yr for AMLP. Their 0.71 correlation means they have sometimes moved together and sometimes differently.

Performance

ET vs. AMLP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Energy Transfer LP (ET) and Alerian MLP ETF (AMLP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ET achieves a 25.13% return, which is significantly higher than AMLP's 19.94% return. Over the past 10 years, ET has outperformed AMLP with an annualized return of 10.62%, while AMLP has yielded a comparatively lower 6.88% annualized return.

ET

• 1D: -2.21%
• 1M: 3.86%
• 6M: 14.88%
• YTD: 25.13%
• 1Y: 21.05%
• 3Y*: 23.98%
• 5Y*: 24.32%
• 10Y*: 10.62%
• ALL TIME*: 13.75%

AMLP

• 1D: -1.38%
• 1M: 5.42%
• 6M: 14.32%
• YTD: 19.94%
• 1Y: 19.75%
• 3Y*: 18.60%
• 5Y*: 18.82%
• 10Y*: 6.88%
• ALL TIME*: 5.78%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AMLP Alerian MLP ETF	$50.92M	$55.14M	$74.08M
ET Energy Transfer LP	$172.40M	$166.69M	$213.15M

ET vs. AMLP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ET Energy Transfer LP	25.13%	-9.37%	53.87%	27.87%	55.74%	42.96%	-44.92%	5.88%	-17.74%	-4.66%
AMLP Alerian MLP ETF	19.94%	5.78%	22.76%	21.40%	25.47%	39.09%	-32.26%	5.99%	-12.67%	-7.89%

Correlation

The correlation between ET and AMLP is 0.71, 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.	0.71
Correlation (3Y) Balances recent behavior with more history.	0.77
Correlation (5Y) Shows whether the relationship held over a longer period.	0.81
Correlation (10Y) Provides a long-term view across more market conditions.	0.76
Correlation (All Time) Calculated using the full available price history since Aug 25, 2010	0.71

The correlation between ET and AMLP shifts across timeframes, from 0.71 (all time) to 0.81 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

ET vs. AMLP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ET

ET Risk / Return Rank: 81
ET Sharpe Ratio Rank: 82
ET Sortino Ratio Rank: 80
ET Omega Ratio Rank: 76
ET Calmar Ratio Rank: 84
ET Martin Ratio Rank: 81

AMLP

AMLP Risk / Return Rank: 63
AMLP Sharpe Ratio Rank: 69
AMLP Sortino Ratio Rank: 67
AMLP Omega Ratio Rank: 65
AMLP Calmar Ratio Rank: 63
AMLP Martin Ratio Rank: 53

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ET vs. AMLP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Energy Transfer LP (ET) 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.

	ET	AMLP	Difference
Sharpe ratio: Return per unit of total volatility	1.29	1.58	-0.29
Sortino ratio: Return per unit of downside risk	1.99	2.22	-0.22
Omega ratio: Gain probability vs. loss probability	1.22	1.27	-0.05
Calmar ratio: Return relative to maximum drawdown	2.46	2.22	+0.24
Martin ratio: Return relative to average drawdown	5.35	6.19	-0.84

ET vs. AMLP - Sharpe Ratio Comparison

The current ET Sharpe Ratio is 1.29, which is comparable to the AMLP Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of ET and AMLP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ET vs. AMLP - Drawdown Comparison

The maximum ET drawdown since its inception was -87.81%, which is greater than AMLP's maximum drawdown of -77.19%. Use the drawdown chart below to compare losses from any high point for ET and AMLP.

Drawdown Indicators

	ET	AMLP	Difference
Max Drawdown Largest peak-to-trough decline	-87.81%	-77.19%	-10.62%
Max Drawdown (1Y) Largest decline over 1 year	-8.59%	-8.94%	+0.35%
Max Drawdown (3Y) Largest decline over 3 years	-24.56%	-14.27%	-10.29%
Max Drawdown (5Y) Largest decline over 5 years	-24.56%	-20.92%	-3.64%
Max Drawdown (10Y) Largest decline over 10 years	-72.82%	-72.62%	-0.20%
Current Drawdown Current decline from peak	-2.50%	-1.38%	-1.12%
Average Drawdown Average peak-to-trough decline	-25.60%	-17.28%	-8.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.94%	3.20%	+0.74%

Volatility

ET vs. AMLP - Volatility Comparison

Energy Transfer LP (ET) has a higher volatility of 5.30% compared to Alerian MLP ETF (AMLP) at 3.94%. This indicates that ET's price experiences larger fluctuations and is considered to be riskier than AMLP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ET	AMLP	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.30%	3.94%	+1.36%
Volatility (6M) Calculated over the trailing 6-month period	12.28%	9.78%	+2.50%
Volatility (1Y) Calculated over the trailing 1-year period	16.40%	12.58%	+3.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.38%	19.41%	+4.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.27%	27.66%	+6.61%

Dividends

ET vs. AMLP - Dividend Comparison

ET's dividend yield for the trailing twelve months is around 6.71%, less than AMLP's 7.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMLP Alerian MLP ETF	7.41%	8.36%	7.70%	7.86%	7.70%	8.55%	12.31%	9.12%	9.29%	7.97%	8.09%	9.84%
ET Energy Transfer LP	6.71%	7.97%	6.51%	8.95%	7.33%	7.41%	17.27%	9.51%	9.24%	6.66%	5.90%	7.42%

Frequently Asked Questions

Can I hold both ET and AMLP in my portfolio?

ET and AMLP have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ET or AMLP?

ET has higher volatility (5.30%) compared to AMLP (3.94%). In terms of maximum drawdown, ET dropped -87.81% vs AMLP's -77.19%.

Which has better risk-adjusted returns?

AMLP currently has the higher Sharpe Ratio (1.58 vs 1.29), 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.