FBGX vs. MLPR

Last updated Jun 4, 2026

FBGX (UBS AG FI Enhanced Large Cap Growth ETN) and MLPR (ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN) are both Leveraged Equities funds from UBS - FBGX tracks the Russell 1000 Growth Index (200%) while MLPR tracks the Alerian MLP Index (150%). Both are passively managed. At a 0.23 correlation, their price movements are largely independent. FBGX charges 1.29%/yr vs 0.95%/yr for MLPR.

Performance

FBGX vs. MLPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in UBS AG FI Enhanced Large Cap Growth ETN (FBGX) and ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FBGX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MLPR

• 1D: -0.37%
• 1M: -1.12%
• YTD: 29.81%
• 6M: 26.95%
• 1Y: 32.42%
• 3Y*: 32.14%
• 5Y*: 26.89%
• 10Y*: —

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

FBGX vs. MLPR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FBGX UBS AG FI Enhanced Large Cap Growth ETN	0.00%	0.00%	35.73%	83.74%	-56.41%	57.04%	59.99%
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN	29.81%	9.83%	31.57%	35.87%	41.04%	57.33%	-9.51%

Correlation

The correlation between FBGX and MLPR is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.11
Correlation (5Y) Calculated over the trailing 5-year period	0.26
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020	0.23

The correlation between FBGX and MLPR shifts across timeframes, from 0.11 (3 years) to 0.26 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FBGX vs. MLPR — Risk / Return Rank

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

MLPR

MLPR Risk / Return Rank: 44
MLPR Sharpe Ratio Rank: 45
MLPR Sortino Ratio Rank: 41
MLPR Omega Ratio Rank: 42
MLPR Calmar Ratio Rank: 47
MLPR Martin Ratio Rank: 45

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.

FBGX vs. MLPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for UBS AG FI Enhanced Large Cap Growth ETN (FBGX) and ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	FBGX	MLPR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.59	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.92	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.93	—

Drawdowns

Drawdown Indicators

	FBGX	MLPR	Difference
Max Drawdown Largest peak-to-trough decline	—	-48.98%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-13.97%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-24.45%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-28.66%	—
Current Drawdown Current decline from peak	—	-7.07%	—
Average Drawdown Average peak-to-trough decline	—	-8.94%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	4.32%	—

Volatility

Volatility by Period

	FBGX	MLPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.12%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.85%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	20.64%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	29.52%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	33.75%	—

FBGX vs. MLPR - Expense Ratio Comparison

FBGX has a 1.29% expense ratio, which is higher than MLPR's 0.95% expense ratio.

Dividends

FBGX vs. MLPR - Dividend Comparison

FBGX has not paid dividends to shareholders, while MLPR's dividend yield for the trailing twelve months is around 9.00%.

Position	TTM	2025	2024	2023	2022	2021	2020
FBGX UBS AG FI Enhanced Large Cap Growth ETN	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN	9.00%	10.85%	9.57%	10.08%	7.49%	10.69%	4.21%

Frequently Asked Questions

Can I hold both FBGX and MLPR in my portfolio?

FBGX and MLPR have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FBGX or MLPR?

On fees, MLPR is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FBGX or MLPR?

MLPR is cheaper with a 0.95% expense ratio, compared with 1.29% for FBGX.

Which ETF pays a higher dividend yield, FBGX or MLPR?

MLPR has the higher dividend yield at 9.00%, compared with 0.00% for FBGX.

What is the main difference between FBGX and MLPR?

FBGX tracks Russell 1000 Growth Index (200%), while MLPR tracks Alerian MLP Index (150%). Their fees differ too: 1.29% for FBGX and 0.95% for MLPR.