KMI vs. AMLP

Last updated Jul 21, 2026

KMI (Kinder Morgan, Inc.) is a stock, while AMLP (Alerian MLP ETF) is MLPs fund tracking the Alerian MLP Infrastructure Index. Over the past 10 years, KMI returned 10.01%/yr vs 6.86%/yr for AMLP. A 0.66 correlation means they provide meaningful diversification when combined.

Performance

KMI vs. AMLP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kinder Morgan, Inc. (KMI) and Alerian MLP ETF (AMLP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KMI achieves a 23.06% return, which is significantly higher than AMLP's 20.47% return. Over the past 10 years, KMI has outperformed AMLP with an annualized return of 10.01%, while AMLP has yielded a comparatively lower 6.86% annualized return.

KMI

• 1D: 0.87%
• 1M: 3.13%
• 6M: 20.99%
• YTD: 23.06%
• 1Y: 24.00%
• 3Y*: 29.50%
• 5Y*: 19.64%
• 10Y*: 10.01%
• ALL TIME*: 5.08%

AMLP

• 1D: 0.81%
• 1M: 7.50%
• 6M: 14.85%
• YTD: 20.47%
• 1Y: 20.23%
• 3Y*: 19.17%
• 5Y*: 19.27%
• 10Y*: 6.86%
• ALL TIME*: 5.81%

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

KMI vs. AMLP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KMI Kinder Morgan, Inc.	23.06%	4.74%	64.42%	4.10%	21.23%	23.75%	-30.77%	44.43%	-11.18%	-10.56%
AMLP Alerian MLP ETF	20.47%	5.78%	22.76%	21.40%	25.47%	39.09%	-32.26%	5.99%	-12.67%	-7.89%

Correlation

The correlation between KMI and AMLP is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.64
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 Feb 11, 2011	0.66

The correlation between KMI and AMLP shifts across timeframes, from 0.60 (1 year) to 0.72 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

KMI vs. AMLP — Risk / Return Rank

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

KMI

KMI Risk / Return Rank: 78
KMI Sharpe Ratio Rank: 80
KMI Sortino Ratio Rank: 74
KMI Omega Ratio Rank: 74
KMI Calmar Ratio Rank: 82
KMI Martin Ratio Rank: 81

AMLP

AMLP Risk / Return Rank: 61
AMLP Sharpe Ratio Rank: 66
AMLP Sortino Ratio Rank: 65
AMLP Omega Ratio Rank: 61
AMLP Calmar Ratio Rank: 61
AMLP Martin Ratio Rank: 50

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.

KMI vs. AMLP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kinder Morgan, Inc. (KMI) and Alerian MLP ETF (AMLP). 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.

	KMI	AMLP	Difference
Sharpe ratio: Return per unit of total volatility	1.20	1.62	-0.42
Sortino ratio: Return per unit of downside risk	1.67	2.26	-0.59
Omega ratio: Gain probability vs. loss probability	1.22	1.28	-0.07
Calmar ratio: Return relative to maximum drawdown	2.39	2.27	+0.12
Martin ratio: Return relative to average drawdown	5.46	6.34	-0.89

KMI vs. AMLP - Sharpe Ratio Comparison

The current KMI Sharpe Ratio is 1.20, which is comparable to the AMLP Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of KMI and AMLP, 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

KMI vs. AMLP - Drawdown Comparison

The maximum KMI drawdown since its inception was -72.70%, smaller than the maximum AMLP drawdown of -77.19%. Use the drawdown chart below to compare losses from any high point for KMI and AMLP.

Drawdown Indicators

	KMI	AMLP	Difference
Max Drawdown Largest peak-to-trough decline	-72.70%	-77.19%	+4.49%
Max Drawdown (1Y) Largest decline over 1 year	-10.08%	-8.94%	-1.14%
Max Drawdown (3Y) Largest decline over 3 years	-18.40%	-14.27%	-4.13%
Max Drawdown (5Y) Largest decline over 5 years	-20.31%	-20.92%	+0.61%
Max Drawdown (10Y) Largest decline over 10 years	-55.13%	-72.62%	+17.49%
Current Drawdown Current decline from peak	-3.24%	-0.67%	-2.57%
Average Drawdown Average peak-to-trough decline	-31.88%	-17.30%	-14.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.43%	3.20%	+1.23%

Volatility

KMI vs. AMLP - Volatility Comparison

Kinder Morgan, Inc. (KMI) has a higher volatility of 5.65% compared to Alerian MLP ETF (AMLP) at 4.93%. This indicates that KMI's price experiences larger fluctuations and is considered to be riskier than AMLP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KMI	AMLP	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.65%	4.93%	+0.72%
Volatility (6M) Calculated over the trailing 6-month period	14.56%	9.68%	+4.88%
Volatility (1Y) Calculated over the trailing 1-year period	20.21%	12.60%	+7.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.42%	19.47%	+2.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.47%	27.66%	-0.19%

Dividends

KMI vs. AMLP - Dividend Comparison

KMI's dividend yield for the trailing twelve months is around 5.43%, less than AMLP's 7.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMLP Alerian MLP ETF	7.38%	8.36%	7.70%	7.86%	7.70%	8.55%	12.31%	9.12%	9.29%	7.97%	8.09%	9.84%
KMI Kinder Morgan, Inc.	5.43%	4.24%	4.18%	6.38%	6.10%	6.76%	7.59%	4.49%	4.71%	2.77%	2.41%	12.94%

Frequently Asked Questions

Can I hold both KMI and AMLP in my portfolio?

KMI and AMLP have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KMI or AMLP?

KMI has higher volatility (5.65%) compared to AMLP (4.93%). In terms of maximum drawdown, KMI dropped -72.70% vs AMLP's -77.19%.

Which has better risk-adjusted returns?

AMLP currently has the higher Sharpe Ratio (1.62 vs 1.20), 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.