MLP vs. AMLP

Last updated Jun 4, 2026

MLP (Maui Land & Pineapple Company, Inc.) is a stock, while AMLP (Alerian MLP ETF) is MLPs fund tracking the Alerian MLP Infrastructure Index. Over the past 10 years, MLP returned 10.20%/yr vs 6.76%/yr for AMLP. At a 0.16 correlation, their price movements are largely independent.

Performance

MLP vs. AMLP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Maui Land & Pineapple Company, Inc. (MLP) 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, MLP achieves a -1.42% return, which is significantly lower than AMLP's 16.31% return. Over the past 10 years, MLP has outperformed AMLP with an annualized return of 10.20%, while AMLP has yielded a comparatively lower 6.76% annualized return.

MLP

• 1D: 1.52%
• 1M: 10.52%
• YTD: -1.42%
• 6M: 0.48%
• 1Y: 1.71%
• 3Y*: 11.65%
• 5Y*: 9.13%
• 10Y*: 10.20%

AMLP

• 1D: -0.27%
• 1M: -0.57%
• YTD: 16.31%
• 6M: 14.89%
• 1Y: 17.06%
• 3Y*: 20.15%
• 5Y*: 16.90%
• 10Y*: 6.76%

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

MLP vs. AMLP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLP Maui Land & Pineapple Company, Inc.	-1.42%	-22.93%	38.33%	68.68%	-5.42%	-13.62%	2.49%	13.41%	-42.66%	140.28%
AMLP Alerian MLP ETF	16.31%	5.78%	22.76%	21.40%	25.47%	39.09%	-32.26%	5.99%	-12.67%	-7.89%

Correlation

The correlation between MLP and AMLP is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.20
Correlation (All Time) Calculated using the full available price history since Aug 26, 2010	0.16

Return for Risk

MLP vs. AMLP — Risk / Return Rank

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

MLP

MLP Risk / Return Rank: 41
MLP Sharpe Ratio Rank: 42
MLP Sortino Ratio Rank: 39
MLP Omega Ratio Rank: 38
MLP Calmar Ratio Rank: 42
MLP Martin Ratio Rank: 42

AMLP

AMLP Risk / Return Rank: 39
AMLP Sharpe Ratio Rank: 40
AMLP Sortino Ratio Rank: 39
AMLP Omega Ratio Rank: 37
AMLP Calmar Ratio Rank: 38
AMLP Martin Ratio Rank: 39

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.

MLP vs. AMLP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Maui Land & Pineapple Company, Inc. (MLP) 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.

	MLP	AMLP	Difference
Sharpe ratio Return per unit of total volatility	0.04	1.45	-1.41
Sortino ratio Return per unit of downside risk	0.38	2.03	-1.64
Omega ratio Gain probability vs. loss probability	1.04	1.25	-0.21
Calmar ratio Return relative to maximum drawdown	0.06	1.92	-1.86
Martin ratio Return relative to average drawdown	0.11	6.37	-6.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MLP vs. AMLP - Sharpe Ratio Comparison

The current MLP Sharpe Ratio is 0.04, which is lower than the AMLP Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of MLP 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.

Sharpe Ratios by Period

	MLP	AMLP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.04	1.45	-1.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.85	-0.61
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	0.24	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.03	0.22	-0.20

Drawdowns

MLP vs. AMLP - Drawdown Comparison

The maximum MLP drawdown since its inception was -95.97%, which is greater than AMLP's maximum drawdown of -77.19%. Use the drawdown chart below to compare losses from any high point for MLP and AMLP.

Drawdown Indicators

	MLP	AMLP	Difference
Max Drawdown Largest peak-to-trough decline	-95.97%	-77.19%	-18.78%
Max Drawdown (1Y) Largest decline over 1 year	-28.79%	-8.94%	-19.85%
Max Drawdown (3Y) Largest decline over 3 years	-45.52%	-14.27%	-31.25%
Max Drawdown (5Y) Largest decline over 5 years	-45.52%	-20.92%	-24.60%
Max Drawdown (10Y) Largest decline over 10 years	-69.73%	-72.62%	+2.89%
Current Drawdown Current decline from peak	-64.56%	-4.10%	-60.46%
Average Drawdown Average peak-to-trough decline	-55.64%	-17.40%	-38.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.81%	2.68%	+13.13%

Volatility

MLP vs. AMLP - Volatility Comparison

Maui Land & Pineapple Company, Inc. (MLP) has a higher volatility of 15.11% compared to Alerian MLP ETF (AMLP) at 4.91%. This indicates that MLP'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

	MLP	AMLP	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.11%	4.91%	+10.20%
Volatility (6M) Calculated over the trailing 6-month period	21.76%	8.66%	+13.10%
Volatility (1Y) Calculated over the trailing 1-year period	39.07%	11.90%	+27.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.31%	19.98%	+18.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.92%	27.68%	+16.24%

Dividends

MLP vs. AMLP - Dividend Comparison

MLP has not paid dividends to shareholders, while AMLP's dividend yield for the trailing twelve months is around 7.64%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMLP Alerian MLP ETF	7.64%	8.36%	7.70%	7.86%	7.70%	8.55%	12.31%	9.12%	9.29%	7.97%	8.09%	9.84%
MLP Maui Land & Pineapple Company, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MLP and AMLP in my portfolio?

MLP and AMLP have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MLP or AMLP?

MLP has higher volatility (15.11%) compared to AMLP (4.91%). In terms of maximum drawdown, MLP dropped -95.97% vs AMLP's -77.19%.

Which has better risk-adjusted returns?

AMLP currently has the higher Sharpe Ratio (1.45 vs 0.04), 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.