IOGP.L vs. MLPP.L
IOGP.L (iShares Oil & Gas Exploration & Production UCITS ETF USD (Acc)) and MLPP.L (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist)) are both Energy Equities funds - IOGP.L tracks the S&P Commodity Producers Oil & Gas Exploration & Production Index while MLPP.L tracks the MSCI World/Energy NR USD. Both are passively managed. Over the past 10 years, IOGP.L returned 6.62%/yr vs 6.82%/yr for MLPP.L. A 0.68 correlation means they provide meaningful diversification when combined. IOGP.L charges 0.55%/yr vs 0.50%/yr for MLPP.L.
Performance
IOGP.L vs. MLPP.L - Performance Comparison
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Different Trading Currencies
IOGP.L is traded in USD, while MLPP.L is traded in GBp. To make them comparable, the MLPP.L values have been converted to USD using the latest available exchange rates.
Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with IOGP.L at 20.93% and MLPP.L at 20.93%. Both investments have delivered pretty close results over the past 10 years, with IOGP.L having a 6.62% annualized return and MLPP.L not far ahead at 6.82%.
IOGP.L
- 1D
- 0.74%
- 1M
- 2.20%
- 6M
- 20.88%
- YTD
- 20.93%
- 1Y
- 26.42%
- 3Y*
- 9.43%
- 5Y*
- 16.91%
- 10Y*
- 6.62%
MLPP.L
- 1D
- 0.22%
- 1M
- 7.16%
- 6M
- 15.06%
- YTD
- 20.93%
- 1Y
- 19.29%
- 3Y*
- 17.78%
- 5Y*
- 18.88%
- 10Y*
- 6.82%
IOGP.L vs. MLPP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IOGP.L iShares Oil & Gas Exploration & Production UCITS ETF USD (Acc) | 20.93% | 6.27% | -0.86% | 2.69% | 37.85% | 67.31% | -31.65% | 8.07% | -20.89% | -4.74% |
MLPP.L Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist) | 20.93% | 2.55% | 22.31% | 19.24% | 31.72% | 37.29% | -31.60% | 8.08% | -15.14% | -8.98% |
Correlation
The correlation between IOGP.L and MLPP.L is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.70 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.66 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since May 16, 2013 | 0.68 |
The correlation between IOGP.L and MLPP.L has been stable across timeframes, ranging from 0.66 to 0.72 - a consistent structural relationship.
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Return for Risk
IOGP.L vs. MLPP.L — Risk / Return Rank
IOGP.L
MLPP.L
IOGP.L vs. MLPP.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Oil & Gas Exploration & Production UCITS ETF USD (Acc) (IOGP.L) and Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist) (MLPP.L). 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.
| IOGP.L | MLPP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.21 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | 2.24 | -0.89 |
| Martin ratioReturn relative to average drawdown | 3.54 | 5.47 | -1.93 |
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Drawdowns
IOGP.L vs. MLPP.L - Drawdown Comparison
The maximum IOGP.L drawdown since its inception was -83.55%, roughly equal to the maximum MLPP.L drawdown of -85.64%. Use the drawdown chart below to compare losses from any high point for IOGP.L and MLPP.L.
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Drawdown Indicators
| IOGP.L | MLPP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.55% | -85.64% | +2.09% |
Max Drawdown (1Y)Largest decline over 1 year | -19.49% | -8.59% | -10.90% |
Max Drawdown (3Y)Largest decline over 3 years | -27.14% | -17.52% | -9.62% |
Max Drawdown (5Y)Largest decline over 5 years | -32.42% | -21.62% | -10.80% |
Max Drawdown (10Y)Largest decline over 10 years | -74.36% | -75.98% | +1.62% |
Current DrawdownCurrent decline from peak | -13.83% | -1.56% | -12.27% |
Average DrawdownAverage peak-to-trough decline | -33.69% | -40.31% | +6.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.45% | 3.52% | +3.93% |
Volatility
IOGP.L vs. MLPP.L - Volatility Comparison
iShares Oil & Gas Exploration & Production UCITS ETF USD (Acc) (IOGP.L) has a higher volatility of 6.52% compared to Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist) (MLPP.L) at 3.57%. This indicates that IOGP.L's price experiences larger fluctuations and is considered to be riskier than MLPP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IOGP.L | MLPP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.52% | 3.57% | +2.95% |
Volatility (6M)Calculated over the trailing 6-month period | 21.24% | 12.48% | +8.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.30% | 15.60% | +9.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.30% | 20.25% | +10.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.70% | 28.15% | +4.55% |
IOGP.L vs. MLPP.L - Expense Ratio Comparison
IOGP.L has a 0.55% expense ratio, which is higher than MLPP.L's 0.50% expense ratio.
Dividends
IOGP.L vs. MLPP.L - Dividend Comparison
IOGP.L has not paid dividends to shareholders, while MLPP.L's dividend yield for the trailing twelve months is around 7.59%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IOGP.L iShares Oil & Gas Exploration & Production UCITS ETF USD (Acc) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MLPP.L Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist) | 7.59% | 8.26% | 8.01% | 8.75% | 7.87% | 8.40% | 11.76% | 10.29% | 9.50% | 8.48% | 7.39% | 9.67% |
Frequently Asked Questions
IOGP.L and MLPP.L have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MLPP.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MLPP.L is cheaper with a 0.50% expense ratio, compared with 0.55% for IOGP.L.
IOGP.L tracks S&P Commodity Producers Oil & Gas Exploration & Production Index, while MLPP.L tracks MSCI World/Energy NR USD. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.55% for IOGP.L and 0.50% for MLPP.L.
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