KRBN vs. MLPB
KRBN (KraneShares Global Carbon ETF) and MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B) are both exchange-traded funds - KRBN is a Commodities fund tracking the IHS Markit Global Carbon Index, while MLPB is a MLPs fund tracking the Alerian MLP Infrastructure Index. Both are passively managed. Over the past 5 years, KRBN returned 6.00%/yr vs 19.39%/yr for MLPB. At a 0.13 correlation, their price movements are largely independent. KRBN charges 0.79%/yr vs 0.85%/yr for MLPB.
Performance
KRBN vs. MLPB - Performance Comparison
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Returns By Period
In the year-to-date period, KRBN achieves a -5.74% return, which is significantly lower than MLPB's 19.99% return.
KRBN
- 1D
- 0.42%
- 1M
- 2.67%
- 6M
- -6.14%
- YTD
- -5.74%
- 1Y
- 13.75%
- 3Y*
- 0.25%
- 5Y*
- 6.00%
- 10Y*
- —
MLPB
- 1D
- -0.27%
- 1M
- 1.21%
- 6M
- 17.31%
- YTD
- 19.99%
- 1Y
- 20.64%
- 3Y*
- 20.95%
- 5Y*
- 19.39%
- 10Y*
- 8.13%
KRBN vs. MLPB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
KRBN KraneShares Global Carbon ETF | -5.74% | 23.11% | -13.56% | 8.01% | -12.75% | 107.69% | 25.03% |
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 19.99% | 7.40% | 25.53% | 22.01% | 30.22% | 39.42% | 11.04% |
Correlation
The correlation between KRBN and MLPB is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jul 30, 2020 | 0.13 |
The correlation between KRBN and MLPB shifts across timeframes, from -0.12 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KRBN vs. MLPB — Risk / Return Rank
KRBN
MLPB
KRBN vs. MLPB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KraneShares Global Carbon ETF (KRBN) 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.
| KRBN | MLPB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.76 | ||
| Sortino ratioReturn per unit of downside risk | -1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.26 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 0.55 | 2.15 | -1.59 |
| Martin ratioReturn relative to average drawdown | 1.39 | 5.61 | -4.22 |
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Drawdowns
KRBN vs. MLPB - Drawdown Comparison
The maximum KRBN drawdown since its inception was -36.42%, smaller than the maximum MLPB drawdown of -71.93%. Use the drawdown chart below to compare losses from any high point for KRBN and MLPB.
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Drawdown Indicators
| KRBN | MLPB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.42% | -71.93% | +35.51% |
Max Drawdown (1Y)Largest decline over 1 year | -24.98% | -9.68% | -15.30% |
Max Drawdown (3Y)Largest decline over 3 years | -27.34% | -16.49% | -10.85% |
Max Drawdown (5Y)Largest decline over 5 years | -36.42% | -20.41% | -16.01% |
Max Drawdown (10Y)Largest decline over 10 years | — | -71.93% | — |
Current DrawdownCurrent decline from peak | -14.07% | -4.47% | -9.60% |
Average DrawdownAverage peak-to-trough decline | -16.11% | -14.74% | -1.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.93% | 3.70% | +6.23% |
Volatility
KRBN vs. MLPB - Volatility Comparison
The current volatility for KraneShares Global Carbon ETF (KRBN) is 4.80%, while ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB) has a volatility of 5.61%. This indicates that KRBN experiences smaller price fluctuations and is considered to be less risky 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
| KRBN | MLPB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.80% | 5.61% | -0.81% |
Volatility (6M)Calculated over the trailing 6-month period | 16.94% | 10.90% | +6.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.00% | 14.02% | +4.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.87% | 19.87% | +8.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.47% | 27.18% | +1.29% |
KRBN vs. MLPB - Expense Ratio Comparison
KRBN has a 0.79% expense ratio, which is lower than MLPB's 0.85% expense ratio.
Dividends
KRBN vs. MLPB - Dividend Comparison
KRBN's dividend yield for the trailing twelve months is around 2.02%, less than MLPB's 5.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
KRBN KraneShares Global Carbon ETF | 2.02% | 1.90% | 7.10% | 7.60% | 22.91% | 0.49% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 5.84% | 6.51% | 5.95% | 6.37% | 6.00% | 6.98% | 11.93% | 7.98% | 8.11% | 7.23% | 6.85% |
Frequently Asked Questions
KRBN and MLPB have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MLPB has higher volatility (5.61%) compared to KRBN (4.80%). In terms of maximum drawdown, KRBN dropped -36.42% vs MLPB's -71.93%.
On 5-year performance, MLPB leads with 19.39% vs 6.00% for KRBN. On fees, KRBN is cheaper at 0.79% per year. On volatility, KRBN has been the lower-risk option at 4.80%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MLPB has performed better with a 19.39% return vs 6.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KRBN is cheaper with a 0.79% expense ratio, compared with 0.85% for MLPB.
MLPB has the higher dividend yield at 5.84%, compared with 2.02% for KRBN.
KRBN is categorized as Commodities, while MLPB is MLPs. KRBN tracks IHS Markit Global Carbon Index, while MLPB tracks Alerian MLP Infrastructure Index. They also come from different issuers: CICC and UBS. Their fees differ too: 0.79% for KRBN and 0.85% for MLPB.
MLPB currently has the higher Sharpe Ratio (1.48 vs 0.73), 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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