MLPA vs. AMLP

Last updated Aug 5, 2026

MLPA (Global X MLP ETF) and AMLP (Alerian MLP ETF) are both MLPs funds - MLPA tracks the Solactive MLP Infrastructure Index while AMLP tracks the Alerian MLP Infrastructure Index. Both are passively managed. Over the past 10 years, MLPA returned 6.38%/yr vs 7.03%/yr for AMLP. Their correlation of 0.94 means they have usually moved in the same direction. MLPA charges 0.77%/yr vs 0.90%/yr for AMLP.

Performance

MLPA vs. AMLP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MLP ETF (MLPA) 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 investments are quite close, with MLPA having a 20.99% return and AMLP slightly higher at 21.64%. Over the past 10 years, MLPA has underperformed AMLP with an annualized return of 6.38%, while AMLP has yielded a comparatively higher 7.03% annualized return.

MLPA

• 1D: -0.37%
• 1M: 5.54%
• 6M: 13.22%
• YTD: 20.99%
• 1Y: 19.33%
• 3Y*: 17.48%
• 5Y*: 19.04%
• 10Y*: 6.38%
• ALL TIME*: 4.58%

AMLP

• 1D: -0.25%
• 1M: 5.65%
• 6M: 13.62%
• YTD: 21.64%
• 1Y: 19.70%
• 3Y*: 19.61%
• 5Y*: 20.35%
• 10Y*: 7.03%
• ALL TIME*: 5.86%

*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	$72.53M	$63.01M	$74.22M
MLPA Global X MLP ETF	$14.19M	$11.50M	$11.16M

MLPA vs. AMLP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLPA Global X MLP ETF	20.99%	5.73%	20.35%	15.93%	27.03%	39.64%	-33.97%	11.91%	-15.71%	-8.31%
AMLP Alerian MLP ETF	21.64%	5.78%	22.76%	21.40%	25.47%	39.09%	-32.26%	5.99%	-12.67%	-7.89%

Correlation

The correlation between MLPA and AMLP is 0.95, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.95
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (10Y) Provides a long-term view across more market conditions.	0.95
Correlation (All Time) Calculated using the full available price history since Apr 19, 2012	0.94

The correlation between MLPA and AMLP has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

MLPA vs. AMLP - Sectors Allocation Comparison

Sectors	MLPA	AMLP
Energy	97.2%	98.1%
Industrials	3.8%	2.1%
Utilities	2.8%	1.9%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	0.0%
Healthcare	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

MLPA vs. AMLP — Risk / Return Rank

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

MLPA

MLPA Risk / Return Rank: 57
MLPA Sharpe Ratio Rank: 58
MLPA Sortino Ratio Rank: 59
MLPA Omega Ratio Rank: 53
MLPA Calmar Ratio Rank: 64
MLPA Martin Ratio Rank: 52

AMLP

AMLP Risk / Return Rank: 57
AMLP Sharpe Ratio Rank: 59
AMLP Sortino Ratio Rank: 58
AMLP Omega Ratio Rank: 55
AMLP Calmar Ratio Rank: 61
AMLP Martin Ratio Rank: 52

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.

MLPA vs. AMLP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MLP ETF (MLPA) 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.

	MLPA	AMLP	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.59	-0.01
Sortino ratio: Return per unit of downside risk	2.24	2.23	+0.01
Omega ratio: Gain probability vs. loss probability	1.27	1.28	-0.01
Calmar ratio: Return relative to maximum drawdown	2.51	2.40	+0.11
Martin ratio: Return relative to average drawdown	6.77	6.72	+0.05

MLPA vs. AMLP - Sharpe Ratio Comparison

The current MLPA Sharpe Ratio is 1.57, which is comparable to the AMLP Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of MLPA 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

MLPA vs. AMLP - Drawdown Comparison

The maximum MLPA drawdown since its inception was -78.75%, roughly equal to the maximum AMLP drawdown of -77.19%. Use the drawdown chart below to compare losses from any high point for MLPA and AMLP.

Drawdown Indicators

	MLPA	AMLP	Difference
Max Drawdown Largest peak-to-trough decline	-78.75%	-77.19%	-1.56%
Max Drawdown (1Y) Largest decline over 1 year	-7.73%	-8.25%	+0.52%
Max Drawdown (3Y) Largest decline over 3 years	-14.20%	-14.27%	+0.07%
Max Drawdown (5Y) Largest decline over 5 years	-18.75%	-20.92%	+2.17%
Max Drawdown (10Y) Largest decline over 10 years	-74.05%	-72.62%	-1.43%
Current Drawdown Current decline from peak	-0.69%	-0.58%	-0.11%
Average Drawdown Average peak-to-trough decline	-20.07%	-17.25%	-2.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.87%	3.02%	-0.15%

Volatility

MLPA vs. AMLP - Volatility Comparison

Global X MLP ETF (MLPA) and Alerian MLP ETF (AMLP) have volatilities of 4.15% and 3.99%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLPA	AMLP	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.15%	3.99%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	9.67%	9.74%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	12.36%	12.48%	-0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.68%	19.34%	-1.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.39%	27.65%	-0.26%

MLPA vs. AMLP - Expense Ratio Comparison

MLPA has a 0.77% expense ratio, which is lower than AMLP's 0.90% expense ratio.

Dividends

MLPA vs. AMLP - Dividend Comparison

MLPA's dividend yield for the trailing twelve months is around 6.98%, less than AMLP's 7.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMLP Alerian MLP ETF	7.31%	8.36%	7.70%	7.86%	7.70%	8.55%	12.31%	9.12%	9.29%	7.97%	8.09%	9.84%
MLPA Global X MLP ETF	6.98%	7.82%	7.25%	7.49%	7.30%	8.72%	13.84%	9.09%	10.00%	8.05%	7.15%	9.29%

Frequently Asked Questions

Can I hold both MLPA and AMLP in my portfolio?

With a correlation of 0.95, MLPA and AMLP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MLPA or AMLP?

MLPA has higher volatility (4.15%) compared to AMLP (3.99%). In terms of maximum drawdown, MLPA dropped -78.75% vs AMLP's -77.19%.

Which ETF is better, MLPA or AMLP?

On 10-year performance, AMLP leads with 7.03% vs 6.38% for MLPA. On fees, MLPA is cheaper at 0.77% per year. On volatility, AMLP has been the lower-risk option at 3.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MLPA or AMLP?

Over the 10-year period, AMLP has performed better with a 7.03% return vs 6.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MLPA or AMLP?

MLPA is cheaper with a 0.77% expense ratio, compared with 0.90% for AMLP.

Which ETF pays a higher dividend yield, MLPA or AMLP?

AMLP has the higher dividend yield at 7.31%, compared with 6.98% for MLPA.

What is the main difference between MLPA and AMLP?

MLPA tracks Solactive MLP Infrastructure Index, while AMLP tracks Alerian MLP Infrastructure Index. They also come from different issuers: Global X and SS&C. Their fees differ too: 0.77% for MLPA and 0.90% for AMLP.

Which has better risk-adjusted returns?

AMLP currently has the higher Sharpe Ratio (1.59 vs 1.57), 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.