GII vs. MLPX

Last updated Aug 2, 2026

GII (SPDR S&P Global Infrastructure ETF) and MLPX (Global X MLP & Energy Infrastructure ETF) are both Infrastructure Equities funds - GII tracks the S&P Global Infrastructure while MLPX tracks the Solactive MLP & Energy Infrastructure Index. Both are passively managed. Over the past 10 years, GII returned 8.20%/yr vs 12.35%/yr for MLPX. Their 0.62 correlation means they have sometimes moved together and sometimes differently. GII charges 0.40%/yr vs 0.45%/yr for MLPX.

Performance

GII vs. MLPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Global Infrastructure ETF (GII) and Global X MLP & Energy Infrastructure ETF (MLPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GII achieves a 10.17% return, which is significantly lower than MLPX's 26.75% return. Over the past 10 years, GII has underperformed MLPX with an annualized return of 8.20%, while MLPX has yielded a comparatively higher 12.35% annualized return.

GII

• 1D: -0.38%
• 1M: 0.09%
• 6M: 4.95%
• YTD: 10.17%
• 1Y: 16.01%
• 3Y*: 16.15%
• 5Y*: 11.07%
• 10Y*: 8.20%
• ALL TIME*: 5.55%

MLPX

• 1D: 0.31%
• 1M: 2.91%
• 6M: 17.40%
• YTD: 26.75%
• 1Y: 26.87%
• 3Y*: 26.63%
• 5Y*: 22.92%
• 10Y*: 12.35%
• ALL TIME*: 9.35%

*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)
GII SPDR S&P Global Infrastructure ETF	$3.26M	$4.04M	$4.11M
MLPX Global X MLP & Energy Infrastructure ETF	$36.85M	$35.99M	$31.05M

GII vs. MLPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GII SPDR S&P Global Infrastructure ETF	10.17%	21.79%	14.30%	5.90%	-0.54%	11.39%	-6.81%	26.32%	-10.08%	19.07%
MLPX Global X MLP & Energy Infrastructure ETF	26.75%	4.96%	42.90%	15.77%	21.54%	39.63%	-20.32%	19.04%	-15.64%	-4.53%

Correlation

The correlation between GII and MLPX is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.40
Correlation (3Y) Balances recent behavior with more history.	0.58
Correlation (5Y) Shows whether the relationship held over a longer period.	0.65
Correlation (10Y) Provides a long-term view across more market conditions.	0.61
Correlation (All Time) Calculated using the full available price history since Aug 7, 2013	0.62

Over the past year, the correlation between GII and MLPX has dropped to 0.40 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.

GII vs. MLPX - Sectors Allocation Comparison

Sectors	GII	MLPX
Utilities	27.3%	0.4%
Industrials	22.9%	0.3%
Energy	21.6%	99.6%
Financial Services	4.7%	-
Technology	4.4%	-
Communication Services	0.3%	-
Real Estate	0.1%	-
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Healthcare	-	-

Return for Risk

GII vs. MLPX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GII

GII Risk / Return Rank: 67
GII Sharpe Ratio Rank: 65
GII Sortino Ratio Rank: 64
GII Omega Ratio Rank: 64
GII Calmar Ratio Rank: 78
GII Martin Ratio Rank: 62

MLPX

MLPX Risk / Return Rank: 74
MLPX Sharpe Ratio Rank: 75
MLPX Sortino Ratio Rank: 76
MLPX Omega Ratio Rank: 70
MLPX Calmar Ratio Rank: 85
MLPX Martin Ratio Rank: 64

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GII vs. MLPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Global Infrastructure ETF (GII) and Global X MLP & Energy Infrastructure ETF (MLPX). 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.

	GII	MLPX	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.71	-0.21
Sortino ratio: Return per unit of downside risk	2.13	2.41	-0.29
Omega ratio: Gain probability vs. loss probability	1.27	1.29	-0.02
Calmar ratio: Return relative to maximum drawdown	2.77	3.27	-0.50
Martin ratio: Return relative to average drawdown	7.45	7.63	-0.18

GII vs. MLPX - Sharpe Ratio Comparison

The current GII Sharpe Ratio is 1.50, which is comparable to the MLPX Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of GII and MLPX, 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

GII vs. MLPX - Drawdown Comparison

The maximum GII drawdown since its inception was -50.98%, smaller than the maximum MLPX drawdown of -70.67%. Use the drawdown chart below to compare losses from any high point for GII and MLPX.

Drawdown Indicators

	GII	MLPX	Difference
Max Drawdown Largest peak-to-trough decline	-50.98%	-70.67%	+19.69%
Max Drawdown (1Y) Largest decline over 1 year	-5.94%	-8.18%	+2.24%
Max Drawdown (3Y) Largest decline over 3 years	-11.38%	-16.77%	+5.39%
Max Drawdown (5Y) Largest decline over 5 years	-20.67%	-19.72%	-0.95%
Max Drawdown (10Y) Largest decline over 10 years	-42.84%	-64.70%	+21.86%
Current Drawdown Current decline from peak	-2.39%	-3.27%	+0.88%
Average Drawdown Average peak-to-trough decline	-11.44%	-16.47%	+5.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.20%	3.49%	-1.29%

Volatility

GII vs. MLPX - Volatility Comparison

The current volatility for SPDR S&P Global Infrastructure ETF (GII) is 2.72%, while Global X MLP & Energy Infrastructure ETF (MLPX) has a volatility of 5.46%. This indicates that GII experiences smaller price fluctuations and is considered to be less risky than MLPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GII	MLPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.72%	5.46%	-2.74%
Volatility (6M) Calculated over the trailing 6-month period	9.16%	12.52%	-3.36%
Volatility (1Y) Calculated over the trailing 1-year period	10.98%	15.68%	-4.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.06%	19.90%	-5.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.03%	26.14%	-9.11%

GII vs. MLPX - Expense Ratio Comparison

GII has a 0.40% expense ratio, which is lower than MLPX's 0.45% expense ratio.

Dividends

GII vs. MLPX - Dividend Comparison

GII's dividend yield for the trailing twelve months is around 2.66%, less than MLPX's 4.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GII SPDR S&P Global Infrastructure ETF	2.66%	3.17%	3.23%	3.70%	3.07%	2.37%	2.66%	3.39%	3.31%	3.38%	3.11%	3.54%
MLPX Global X MLP & Energy Infrastructure ETF	4.05%	4.88%	4.30%	5.22%	5.23%	5.98%	8.32%	5.78%	5.77%	4.36%	5.50%	4.81%

Frequently Asked Questions

Can I hold both GII and MLPX in my portfolio?

GII and MLPX have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GII or MLPX?

MLPX has higher volatility (5.46%) compared to GII (2.72%). In terms of maximum drawdown, GII dropped -50.98% vs MLPX's -70.67%.

Which ETF is better, GII or MLPX?

On 10-year performance, MLPX leads with 12.35% vs 8.20% for GII. On fees, GII is cheaper at 0.40% per year. On volatility, GII has been the lower-risk option at 2.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GII or MLPX?

Over the 10-year period, MLPX has performed better with a 12.35% return vs 8.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GII or MLPX?

GII is cheaper with a 0.40% expense ratio, compared with 0.45% for MLPX.

Which ETF pays a higher dividend yield, GII or MLPX?

MLPX has the higher dividend yield at 4.05%, compared with 2.66% for GII.

What is the main difference between GII and MLPX?

GII tracks S&P Global Infrastructure, while MLPX tracks Solactive MLP & Energy Infrastructure Index. They also come from different issuers: State Street and Global X. Their fees differ too: 0.40% for GII and 0.45% for MLPX.

Which has better risk-adjusted returns?

MLPX currently has the higher Sharpe Ratio (1.71 vs 1.50), 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.