MLPA vs. AMLP
Compare and contrast key facts about Global X MLP ETF (MLPA) and Alerian MLP ETF (AMLP).
MLPA and AMLP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MLPA is a passively managed fund by Global X that tracks the performance of the Solactive MLP Infrastructure Index. It was launched on Apr 18, 2012. AMLP is a passively managed fund by SS&C that tracks the performance of the Alerian MLP Infrastructure Index. It was launched on Aug 23, 2010. Both MLPA and AMLP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: MLPA or AMLP.
Key characteristics
| MLPA | AMLP | |
|---|---|---|
| YTD Return | 16.47% | 19.55% |
| 1Y Return | 17.37% | 22.11% |
| 3Y Return (Ann) | 17.38% | 19.43% |
| 5Y Return (Ann) | 10.97% | 13.00% |
| 10Y Return (Ann) | 0.99% | 1.72% |
| Sharpe Ratio | 1.44 | 1.68 |
| Sortino Ratio | 2.08 | 2.38 |
| Omega Ratio | 1.25 | 1.29 |
| Calmar Ratio | 1.78 | 3.14 |
| Martin Ratio | 7.31 | 8.88 |
| Ulcer Index | 2.42% | 2.57% |
| Daily Std Dev | 12.35% | 13.60% |
| Max Drawdown | -78.74% | -77.19% |
| Current Drawdown | -1.52% | -1.10% |
Correlation
The correlation between MLPA and AMLP is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
MLPA vs. AMLP - Performance Comparison
In the year-to-date period, MLPA achieves a 16.47% return, which is significantly lower than AMLP's 19.55% return. Over the past 10 years, MLPA has underperformed AMLP with an annualized return of 0.99%, while AMLP has yielded a comparatively higher 1.72% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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MLPA vs. AMLP - Expense Ratio Comparison
MLPA has a 0.46% expense ratio, which is lower than AMLP's 0.90% expense ratio.
Risk-Adjusted Performance
MLPA vs. AMLP - Risk-Adjusted Performance 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.
Dividends
MLPA vs. AMLP - Dividend Comparison
MLPA's dividend yield for the trailing twelve months is around 7.49%, more than AMLP's 5.77% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MLPA Global X MLP ETF | 7.49% | 7.49% | 7.30% | 8.72% | 13.85% | 9.11% | 10.03% | 8.07% | 7.16% | 9.29% | 5.80% | 5.62% |
AMLP Alerian MLP ETF | 5.77% | 7.86% | 7.70% | 8.55% | 12.31% | 9.12% | 9.30% | 7.97% | 8.09% | 9.84% | 6.45% | 6.00% |
Drawdowns
MLPA vs. AMLP - Drawdown Comparison
The maximum MLPA drawdown since its inception was -78.74%, 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. For additional features, visit the drawdowns tool.
Volatility
MLPA vs. AMLP - Volatility Comparison
Global X MLP ETF (MLPA) has a higher volatility of 3.63% compared to Alerian MLP ETF (AMLP) at 3.21%. This indicates that MLPA'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.