IPAV vs. MLPB
IPAV (Global X Infrastructure Development ex-U.S. ETF) and MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B) are both Infrastructure Equities funds - IPAV tracks the Global X Infrastructure Development ex-U.S. Index while MLPB tracks the Alerian MLP Infrastructure Index. Both are passively managed. Over the past year, IPAV returned 18.18% vs 25.65% for MLPB. Their 0.14 correlation means their historical movements had little consistent relationship. IPAV charges 0.55%/yr vs 0.85%/yr for MLPB.
Performance
IPAV vs. MLPB - Performance Comparison
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Returns By Period
In the year-to-date period, IPAV achieves a 6.95% return, which is significantly lower than MLPB's 26.62% return.
IPAV
- 1D
- -0.47%
- 1M
- -1.47%
- 6M
- 0.92%
- YTD
- 6.95%
- 1Y
- 18.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 14.28%
MLPB
- 1D
- 1.16%
- 1M
- 7.18%
- 6M
- 17.75%
- YTD
- 26.62%
- 1Y
- 25.65%
- 3Y*
- 21.81%
- 5Y*
- 22.18%
- 10Y*
- 8.89%
- ALL TIME*
- 7.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $22.25K | $22.11K | $47.05K | |
| $90.23K | $111.55K | $133.00K |
IPAV vs. MLPB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IPAV Global X Infrastructure Development ex-U.S. ETF | 6.95% | 29.77% | -6.87% |
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 26.62% | 7.40% | 6.53% |
Correlation
The correlation between IPAV and MLPB is -0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.10 |
Correlation (All Time) Calculated using the full available price history since Aug 28, 2024 | 0.14 |
The correlation between IPAV and MLPB shifts across timeframes, from -0.10 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IPAV vs. MLPB — Risk / Return Rank
IPAV
MLPB
IPAV vs. MLPB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Infrastructure Development ex-U.S. ETF (IPAV) and ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB). 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.
| IPAV | MLPB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.29 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 2.56 | -1.34 |
| Martin ratioReturn relative to average drawdown | 3.32 | 6.82 | -3.51 |
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Drawdowns
IPAV vs. MLPB - Drawdown Comparison
The maximum IPAV drawdown since its inception was -14.59%, smaller than the maximum MLPB drawdown of -71.93%. Use the drawdown chart below to compare losses from any high point for IPAV and MLPB.
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Drawdown Indicators
| IPAV | MLPB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.59% | -71.93% | +57.34% |
Max Drawdown (1Y)Largest decline over 1 year | -14.59% | -9.28% | -5.31% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.49% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.41% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -71.93% | — |
Current DrawdownCurrent decline from peak | -10.75% | 0.00% | -10.75% |
Average DrawdownAverage peak-to-trough decline | -3.97% | -14.67% | +10.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.32% | 3.72% | +1.60% |
Volatility
IPAV vs. MLPB - Volatility Comparison
Global X Infrastructure Development ex-U.S. ETF (IPAV) has a higher volatility of 5.18% compared to ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB) at 4.65%. This indicates that IPAV's price experiences larger fluctuations and is considered to be riskier than MLPB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IPAV | MLPB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.18% | 4.65% | +0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 16.26% | 11.14% | +5.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.16% | 14.17% | +3.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.95% | 19.62% | -1.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.95% | 27.20% | -9.25% |
IPAV vs. MLPB - Expense Ratio Comparison
IPAV has a 0.55% expense ratio, which is lower than MLPB's 0.85% expense ratio.
Dividends
IPAV vs. MLPB - Dividend Comparison
IPAV's dividend yield for the trailing twelve months is around 1.52%, less than MLPB's 5.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
IPAV Global X Infrastructure Development ex-U.S. ETF | 1.52% | 1.29% | 0.31% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 5.70% | 6.51% | 5.95% | 6.37% | 6.00% | 6.98% | 11.93% | 7.98% | 8.11% | 7.23% | 6.85% |
Frequently Asked Questions
IPAV and MLPB have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IPAV has higher volatility (5.18%) compared to MLPB (4.65%). In terms of maximum drawdown, IPAV dropped -14.59% vs MLPB's -71.93%.
On 1-year performance, MLPB leads with 25.65% vs 18.18% for IPAV. On fees, IPAV is cheaper at 0.55% per year. On volatility, MLPB has been the lower-risk option at 4.65%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MLPB has performed better with a 25.65% return vs 18.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IPAV is cheaper with a 0.55% expense ratio, compared with 0.85% for MLPB.
MLPB has the higher dividend yield at 5.70%, compared with 1.52% for IPAV.
IPAV tracks Global X Infrastructure Development ex-U.S. Index, while MLPB tracks Alerian MLP Infrastructure Index. They also come from different issuers: Global X and UBS. Their fees differ too: 0.55% for IPAV and 0.85% for MLPB.
MLPB currently has the higher Sharpe Ratio (1.67 vs 0.97), 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.
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