MGNR vs. PIPE

Last updated Jul 18, 2026

MGNR (American Beacon GLG Natural Resources ETF) and PIPE (Invesco SteelPath MLP & Energy Infrastructure ETF) are both Energy Equities funds. Both are actively managed. Over the past year, MGNR returned 46.68% vs 35.34% for PIPE. At a 0.31 correlation, their price movements are largely independent. Both charge a 0.75% expense ratio.

Performance

MGNR vs. PIPE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Beacon GLG Natural Resources ETF (MGNR) and Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MGNR achieves a 8.80% return, which is significantly lower than PIPE's 31.06% return.

MGNR

• 1D: 0.48%
• 1M: -7.11%
• 6M: 0.37%
• YTD: 8.80%
• 1Y: 46.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PIPE

• 1D: 0.05%
• 1M: 6.25%
• 6M: 27.56%
• YTD: 31.06%
• 1Y: 35.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MGNR vs. PIPE - Yearly Performance Comparison

	2026 (YTD)	2025
MGNR American Beacon GLG Natural Resources ETF	8.80%	40.86%
PIPE Invesco SteelPath MLP & Energy Infrastructure ETF	31.06%	0.14%

Correlation

The correlation between MGNR and PIPE is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (All Time) Calculated using the full available price history since Feb 20, 2025	0.31

The correlation between MGNR and PIPE shifts across timeframes, from 0.13 (1 year) to 0.31 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MGNR vs. PIPE — Risk / Return Rank

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

MGNR

MGNR Risk / Return Rank: 71
MGNR Sharpe Ratio Rank: 76
MGNR Sortino Ratio Rank: 66
MGNR Omega Ratio Rank: 70
MGNR Calmar Ratio Rank: 76
MGNR Martin Ratio Rank: 66

PIPE

PIPE Risk / Return Rank: 88
PIPE Sharpe Ratio Rank: 91
PIPE Sortino Ratio Rank: 89
PIPE Omega Ratio Rank: 87
PIPE Calmar Ratio Rank: 93
PIPE Martin Ratio Rank: 81

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.

MGNR vs. PIPE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Beacon GLG Natural Resources ETF (MGNR) and Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE). 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.

	MGNR	PIPE	Difference
Sharpe ratio: Return per unit of total volatility	1.90	2.39	-0.49
Sortino ratio: Return per unit of downside risk	2.37	3.22	-0.85
Omega ratio: Gain probability vs. loss probability	1.32	1.41	-0.09
Calmar ratio: Return relative to maximum drawdown	3.03	4.84	-1.82
Martin ratio: Return relative to average drawdown	9.07	11.68	-2.61

MGNR vs. PIPE - Sharpe Ratio Comparison

The current MGNR Sharpe Ratio is 1.90, which is comparable to the PIPE Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of MGNR and PIPE, 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

MGNR vs. PIPE - Drawdown Comparison

The maximum MGNR drawdown since its inception was -22.06%, which is greater than PIPE's maximum drawdown of -15.69%. Use the drawdown chart below to compare losses from any high point for MGNR and PIPE.

Drawdown Indicators

	MGNR	PIPE	Difference
Max Drawdown Largest peak-to-trough decline	-22.06%	-15.69%	-6.37%
Max Drawdown (1Y) Largest decline over 1 year	-15.51%	-7.33%	-8.18%
Current Drawdown Current decline from peak	-15.10%	-1.26%	-13.84%
Average Drawdown Average peak-to-trough decline	-4.24%	-3.99%	-0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.16%	3.03%	+2.13%

Volatility

MGNR vs. PIPE - Volatility Comparison

American Beacon GLG Natural Resources ETF (MGNR) has a higher volatility of 5.77% compared to Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE) at 5.31%. This indicates that MGNR's price experiences larger fluctuations and is considered to be riskier than PIPE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGNR	PIPE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.77%	5.31%	+0.46%
Volatility (6M) Calculated over the trailing 6-month period	19.31%	11.68%	+7.63%
Volatility (1Y) Calculated over the trailing 1-year period	24.67%	14.86%	+9.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.17%	18.65%	+6.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.17%	18.65%	+6.52%

MGNR vs. PIPE - Expense Ratio Comparison

Both MGNR and PIPE have an expense ratio of 0.75%.

Dividends

MGNR vs. PIPE - Dividend Comparison

MGNR's dividend yield for the trailing twelve months is around 0.86%, less than PIPE's 3.62% yield.

Position	TTM	2025	2024
MGNR American Beacon GLG Natural Resources ETF	0.86%	1.17%	0.79%
PIPE Invesco SteelPath MLP & Energy Infrastructure ETF	3.62%	3.74%	0.00%

Frequently Asked Questions

Can I hold both MGNR and PIPE in my portfolio?

MGNR and PIPE have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MGNR or PIPE?

MGNR has higher volatility (5.77%) compared to PIPE (5.31%). In terms of maximum drawdown, MGNR dropped -22.06% vs PIPE's -15.69%.

Which ETF is better, MGNR or PIPE?

On 1-year performance, MGNR leads with 46.68% vs 35.34% for PIPE. Both ETFs have the same 0.75% expense ratio. On volatility, PIPE has been the lower-risk option at 5.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MGNR or PIPE?

Over the 1-year period, MGNR has performed better with a 46.68% return vs 35.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MGNR or PIPE?

MGNR and PIPE have the same expense ratio: 0.75% per year.

Which ETF pays a higher dividend yield, MGNR or PIPE?

PIPE has the higher dividend yield at 3.62%, compared with 0.86% for MGNR.

What is the main difference between MGNR and PIPE?

They also come from different issuers: American Beacon and Invesco.

Which has better risk-adjusted returns?

PIPE currently has the higher Sharpe Ratio (2.39 vs 1.90), 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.