KYN vs. AMLP

Last updated Aug 1, 2026

KYN (Kayne Anderson Energy Infrastructure Fund) and AMLP (Alerian MLP ETF) are both funds - KYN is a Infrastructure Equities fund actively managed by Kayne Anderson, while AMLP is a MLPs fund tracking the Alerian MLP Infrastructure Index. KYN is actively managed, while AMLP is passively managed. Over the past 10 years, KYN returned 7.68%/yr vs 7.29%/yr for AMLP. Their 0.76 correlation means they have sometimes moved together and sometimes differently. KYN charges 2.00%/yr vs 0.90%/yr for AMLP.

Performance

KYN vs. AMLP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Kayne Anderson Energy Infrastructure Fund (KYN) and Alerian MLP ETF (AMLP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with KYN having a 23.35% return and AMLP slightly lower at 22.35%. Over the past 10 years, KYN has outperformed AMLP with an annualized return of 7.68%, while AMLP has yielded a comparatively lower 7.29% annualized return.

KYN

• 1D: 0.90%
• 1M: 5.76%
• 6M: 14.99%
• YTD: 23.35%
• 1Y: 27.51%
• 3Y*: 29.39%
• 5Y*: 23.23%
• 10Y*: 7.68%
• ALL TIME*: 6.19%

AMLP

• 1D: 0.89%
• 1M: 6.26%
• 6M: 14.99%
• YTD: 22.35%
• 1Y: 21.27%
• 3Y*: 19.27%
• 5Y*: 19.50%
• 10Y*: 7.29%
• ALL TIME*: 5.90%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AMLP Alerian MLP ETF	$65.00M	$60.75M	$74.60M
KYN Kayne Anderson Energy Infrastructure Fund	$4.71M	$5.48M	$5.51M

KYN vs. AMLP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KYN Kayne Anderson Energy Infrastructure Fund	23.35%	5.34%	60.45%	13.19%	20.50%	44.21%	-51.60%	11.52%	-19.35%	7.33%
AMLP Alerian MLP ETF	22.35%	5.78%	22.76%	21.40%	25.47%	39.09%	-32.26%	5.99%	-12.67%	-7.89%

Correlation

The correlation between KYN and AMLP is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.66
Correlation (3Y) Balances recent behavior with more history.	0.67
Correlation (5Y) Shows whether the relationship held over a longer period.	0.77
Correlation (10Y) Provides a long-term view across more market conditions.	0.81
Correlation (All Time) Calculated using the full available price history since Aug 25, 2010	0.76

The correlation between KYN and AMLP shifts across timeframes, from 0.66 (1 year) to 0.81 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

KYN vs. AMLP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

KYN

KYN Risk / Return Rank: 68
KYN Sharpe Ratio Rank: 66
KYN Sortino Ratio Rank: 61
KYN Omega Ratio Rank: 58
KYN Calmar Ratio Rank: 89
KYN Martin Ratio Rank: 67

AMLP

AMLP Risk / Return Rank: 66
AMLP Sharpe Ratio Rank: 70
AMLP Sortino Ratio Rank: 68
AMLP Omega Ratio Rank: 65
AMLP Calmar Ratio Rank: 68
AMLP Martin Ratio Rank: 56

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

KYN vs. AMLP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Kayne Anderson Energy Infrastructure Fund (KYN) 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.

	KYN	AMLP	Difference
Sharpe ratio: Return per unit of total volatility	1.52	1.58	-0.06
Sortino ratio: Return per unit of downside risk	2.10	2.22	-0.12
Omega ratio: Gain probability vs. loss probability	1.26	1.27	-0.02
Calmar ratio: Return relative to maximum drawdown	3.17	2.35	+0.82
Martin ratio: Return relative to average drawdown	8.17	6.55	+1.62

KYN vs. AMLP - Sharpe Ratio Comparison

The current KYN Sharpe Ratio is 1.52, which is comparable to the AMLP Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of KYN 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

KYN vs. AMLP - Drawdown Comparison

The maximum KYN drawdown since its inception was -91.43%, which is greater than AMLP's maximum drawdown of -77.19%. Use the drawdown chart below to compare losses from any high point for KYN and AMLP.

Drawdown Indicators

	KYN	AMLP	Difference
Max Drawdown Largest peak-to-trough decline	-91.43%	-77.19%	-14.24%
Max Drawdown (1Y) Largest decline over 1 year	-8.53%	-8.47%	-0.06%
Max Drawdown (3Y) Largest decline over 3 years	-21.65%	-14.27%	-7.38%
Max Drawdown (5Y) Largest decline over 5 years	-21.65%	-20.92%	-0.73%
Max Drawdown (10Y) Largest decline over 10 years	-87.74%	-72.62%	-15.12%
Current Drawdown Current decline from peak	-2.34%	0.00%	-2.34%
Average Drawdown Average peak-to-trough decline	-26.78%	-17.26%	-9.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.30%	3.20%	+0.10%

Volatility

KYN vs. AMLP - Volatility Comparison

Kayne Anderson Energy Infrastructure Fund (KYN) has a higher volatility of 5.93% compared to Alerian MLP ETF (AMLP) at 3.98%. This indicates that KYN'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

	KYN	AMLP	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.93%	3.98%	+1.95%
Volatility (6M) Calculated over the trailing 6-month period	12.80%	9.81%	+2.99%
Volatility (1Y) Calculated over the trailing 1-year period	17.73%	12.55%	+5.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.84%	19.37%	+3.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.77%	27.64%	+13.13%

KYN vs. AMLP - Expense Ratio Comparison

KYN has a 2.00% expense ratio, which is higher than AMLP's 0.90% expense ratio.

Dividends

KYN vs. AMLP - Dividend Comparison

KYN's dividend yield for the trailing twelve months is around 6.84%, less than AMLP's 7.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMLP Alerian MLP ETF	7.27%	8.36%	7.70%	7.86%	7.70%	8.55%	12.31%	9.12%	9.29%	7.97%	8.09%	9.84%
KYN Kayne Anderson Energy Infrastructure Fund	6.84%	7.75%	8.34%	9.45%	9.05%	6.42%	16.17%	10.34%	14.17%	9.97%	11.24%	15.20%

Frequently Asked Questions

Can I hold both KYN and AMLP in my portfolio?

KYN and AMLP have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KYN or AMLP?

KYN has higher volatility (5.93%) compared to AMLP (3.98%). In terms of maximum drawdown, KYN dropped -91.43% vs AMLP's -77.19%.

Which has better risk-adjusted returns?

AMLP currently has the higher Sharpe Ratio (1.58 vs 1.52), 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.