MKAM vs. ENFR

Last updated Jun 24, 2026

MKAM (MKAM ETF) and ENFR (Alerian Energy Infrastructure ETF) are both exchange-traded funds - MKAM is a Diversified Portfolio fund actively managed by MKAM, while ENFR is a Energy Equities fund tracking the Alerian Midstream Energy Select Index. MKAM is actively managed, while ENFR is passively managed. Over the past 3 years, MKAM returned 9.64%/yr vs 28.90%/yr for ENFR. At a 0.24 correlation, their price movements are largely independent. MKAM charges 0.96%/yr vs 0.35%/yr for ENFR.

Performance

MKAM vs. ENFR - Performance Comparison

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

Returns By Period

In the year-to-date period, MKAM achieves a 3.90% return, which is significantly lower than ENFR's 24.93% return.

MKAM

• 1D: -0.67%
• 1M: -0.58%
• YTD: 3.90%
• 6M: 3.53%
• 1Y: 12.35%
• 3Y*: 9.64%
• 5Y*: —
• 10Y*: —

ENFR

• 1D: 1.51%
• 1M: -4.52%
• YTD: 24.93%
• 6M: 25.03%
• 1Y: 27.76%
• 3Y*: 28.90%
• 5Y*: 20.07%
• 10Y*: 11.98%

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

MKAM vs. ENFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MKAM MKAM ETF	3.90%	8.07%	12.15%	7.69%
ENFR Alerian Energy Infrastructure ETF	24.93%	5.88%	42.17%	12.61%

Correlation

The correlation between MKAM and ENFR is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (All Time) Calculated using the full available price history since Apr 12, 2023	0.24

The correlation between MKAM and ENFR shifts across timeframes, from -0.06 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MKAM vs. ENFR — Risk / Return Rank

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

MKAM

MKAM Risk / Return Rank: 67
MKAM Sharpe Ratio Rank: 64
MKAM Sortino Ratio Rank: 62
MKAM Omega Ratio Rank: 65
MKAM Calmar Ratio Rank: 71
MKAM Martin Ratio Rank: 71

ENFR

ENFR Risk / Return Rank: 57
ENFR Sharpe Ratio Rank: 59
ENFR Sortino Ratio Rank: 57
ENFR Omega Ratio Rank: 54
ENFR Calmar Ratio Rank: 67
ENFR 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.

MKAM vs. ENFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MKAM ETF (MKAM) and Alerian Energy Infrastructure ETF (ENFR). 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.

	MKAM	ENFR	Difference
Sharpe ratio: Return per unit of total volatility	1.94	1.88	+0.06
Sortino ratio: Return per unit of downside risk	2.67	2.59	+0.08
Omega ratio: Gain probability vs. loss probability	1.36	1.32	+0.04
Calmar ratio: Return relative to maximum drawdown	3.33	3.23	+0.11
Martin ratio: Return relative to average drawdown	12.19	8.24	+3.94

MKAM vs. ENFR - Sharpe Ratio Comparison

The current MKAM Sharpe Ratio is 1.94, which is comparable to the ENFR Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of MKAM and ENFR, 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

MKAM vs. ENFR - Drawdown Comparison

The maximum MKAM drawdown since its inception was -5.01%, smaller than the maximum ENFR drawdown of -68.28%. Use the drawdown chart below to compare losses from any high point for MKAM and ENFR.

Drawdown Indicators

	MKAM	ENFR	Difference
Max Drawdown Largest peak-to-trough decline	-5.01%	-68.28%	+63.27%
Max Drawdown (1Y) Largest decline over 1 year	-3.72%	-8.64%	+4.92%
Max Drawdown (3Y) Largest decline over 3 years	-5.01%	-15.58%	+10.57%
Max Drawdown (5Y) Largest decline over 5 years	—	-20.29%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-62.64%	—
Current Drawdown Current decline from peak	-1.52%	-4.71%	+3.19%
Average Drawdown Average peak-to-trough decline	-1.13%	-15.94%	+14.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.02%	3.38%	-2.36%

Volatility

MKAM vs. ENFR - Volatility Comparison

The current volatility for MKAM ETF (MKAM) is 2.40%, while Alerian Energy Infrastructure ETF (ENFR) has a volatility of 5.69%. This indicates that MKAM experiences smaller price fluctuations and is considered to be less risky than ENFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MKAM	ENFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.40%	5.69%	-3.29%
Volatility (6M) Calculated over the trailing 6-month period	4.94%	11.60%	-6.66%
Volatility (1Y) Calculated over the trailing 1-year period	6.41%	14.86%	-8.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.31%	19.25%	-12.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.31%	24.68%	-18.37%

MKAM vs. ENFR - Expense Ratio Comparison

MKAM has a 0.96% expense ratio, which is higher than ENFR's 0.35% expense ratio.

Dividends

MKAM vs. ENFR - Dividend Comparison

MKAM's dividend yield for the trailing twelve months is around 2.94%, less than ENFR's 4.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENFR Alerian Energy Infrastructure ETF	4.02%	4.77%	4.41%	5.48%	5.23%	7.86%	7.57%	5.81%	3.98%	2.98%	3.31%	3.34%
MKAM MKAM ETF	2.94%	2.56%	1.88%	1.70%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MKAM and ENFR in my portfolio?

MKAM and ENFR have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MKAM or ENFR?

ENFR has higher volatility (5.69%) compared to MKAM (2.40%). In terms of maximum drawdown, MKAM dropped -5.01% vs ENFR's -68.28%.

Which ETF is better, MKAM or ENFR?

On 3-year performance, ENFR leads with 28.90% vs 9.64% for MKAM. On fees, ENFR is cheaper at 0.35% per year. On volatility, MKAM has been the lower-risk option at 2.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MKAM or ENFR?

Over the 3-year period, ENFR has performed better with a 28.90% return vs 9.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MKAM or ENFR?

ENFR is cheaper with a 0.35% expense ratio, compared with 0.96% for MKAM.

Which ETF pays a higher dividend yield, MKAM or ENFR?

ENFR has the higher dividend yield at 4.02%, compared with 2.94% for MKAM.

What is the main difference between MKAM and ENFR?

MKAM is categorized as Diversified Portfolio, while ENFR is Energy Equities. They also come from different issuers: MKAM and SS&C. Their fees differ too: 0.96% for MKAM and 0.35% for ENFR.

Which has better risk-adjusted returns?

MKAM currently has the higher Sharpe Ratio (1.94 vs 1.88), 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.