IOGP.L vs. MLPS.L
IOGP.L (iShares Oil & Gas Exploration & Production UCITS ETF USD (Acc)) and MLPS.L (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF) are both Energy Equities funds - IOGP.L tracks the S&P Commodity Producers Oil & Gas Exploration & Production Index while MLPS.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 MLPS.L. A 0.70 correlation means they provide meaningful diversification when combined. IOGP.L charges 0.55%/yr vs 0.50%/yr for MLPS.L.
Performance
IOGP.L vs. MLPS.L - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IOGP.L having a 20.93% return and MLPS.L slightly higher at 21.07%. Both investments have delivered pretty close results over the past 10 years, with IOGP.L having a 6.62% annualized return and MLPS.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%
MLPS.L
- 1D
- 0.29%
- 1M
- 6.45%
- 6M
- 15.12%
- YTD
- 21.07%
- 1Y
- 19.53%
- 3Y*
- 17.73%
- 5Y*
- 18.88%
- 10Y*
- 6.82%
IOGP.L vs. MLPS.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% |
MLPS.L Invesco Morningstar US Energy Infrastructure MLP UCITS ETF | 21.07% | 2.45% | 22.60% | 19.38% | 31.92% | 36.78% | -31.20% | 7.20% | -14.64% | -8.96% |
Correlation
The correlation between IOGP.L and MLPS.L is 0.72, 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 | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.72 |
Correlation (All Time) Calculated using the full available price history since May 20, 2013 | 0.70 |
The correlation between IOGP.L and MLPS.L has been stable across timeframes, ranging from 0.68 to 0.76 - a consistent structural relationship.
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Return for Risk
IOGP.L vs. MLPS.L — Risk / Return Rank
IOGP.L
MLPS.L
IOGP.L vs. MLPS.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 (MLPS.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 | MLPS.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.23 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | 2.32 | -0.97 |
| Martin ratioReturn relative to average drawdown | 3.54 | 5.60 | -2.06 |
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Drawdowns
IOGP.L vs. MLPS.L - Drawdown Comparison
The maximum IOGP.L drawdown since its inception was -83.55%, roughly equal to the maximum MLPS.L drawdown of -82.23%. Use the drawdown chart below to compare losses from any high point for IOGP.L and MLPS.L.
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Drawdown Indicators
| IOGP.L | MLPS.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.55% | -82.23% | -1.32% |
Max Drawdown (1Y)Largest decline over 1 year | -19.49% | -8.39% | -11.10% |
Max Drawdown (3Y)Largest decline over 3 years | -27.14% | -17.67% | -9.47% |
Max Drawdown (5Y)Largest decline over 5 years | -32.42% | -21.76% | -10.66% |
Max Drawdown (10Y)Largest decline over 10 years | -74.36% | -75.70% | +1.34% |
Current DrawdownCurrent decline from peak | -13.83% | -1.40% | -12.43% |
Average DrawdownAverage peak-to-trough decline | -33.69% | -27.93% | -5.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.45% | 3.48% | +3.97% |
Volatility
IOGP.L vs. MLPS.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 (MLPS.L) at 3.29%. This indicates that IOGP.L's price experiences larger fluctuations and is considered to be riskier than MLPS.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 | MLPS.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.52% | 3.29% | +3.23% |
Volatility (6M)Calculated over the trailing 6-month period | 21.24% | 10.97% | +10.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.30% | 14.47% | +10.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.30% | 20.16% | +10.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.70% | 28.33% | +4.37% |
IOGP.L vs. MLPS.L - Expense Ratio Comparison
IOGP.L has a 0.55% expense ratio, which is higher than MLPS.L's 0.50% expense ratio.
Dividends
IOGP.L vs. MLPS.L - Dividend Comparison
Neither IOGP.L nor MLPS.L has paid dividends to shareholders.
Frequently Asked Questions
IOGP.L and MLPS.L have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MLPS.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MLPS.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 MLPS.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 MLPS.L.
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