MLPA vs. BSMV

Last updated Jun 5, 2026

MLPA (Global X MLP ETF) and BSMV (Invesco BulletShares 2031 Municipal Bond ETF) are both exchange-traded funds - MLPA is a MLPs fund tracking the Solactive MLP Infrastructure Index, while BSMV is a Municipal Bonds fund tracking the Invesco BulletShares Municipal Bond 2031 Index. Both are passively managed. Over the past 3 years, MLPA returned 17.58%/yr vs 3.00%/yr for BSMV. At a 0.01 correlation, their price movements are largely independent. MLPA charges 0.46%/yr vs 0.18%/yr for BSMV.

Performance

MLPA vs. BSMV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MLP ETF (MLPA) and Invesco BulletShares 2031 Municipal Bond ETF (BSMV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLPA achieves a 17.49% return, which is significantly higher than BSMV's 0.78% return.

MLPA

• 1D: 1.22%
• 1M: 0.72%
• YTD: 17.49%
• 6M: 14.69%
• 1Y: 19.63%
• 3Y*: 17.58%
• 5Y*: 15.86%
• 10Y*: 6.12%

BSMV

• 1D: 0.11%
• 1M: 0.58%
• YTD: 0.78%
• 6M: 1.11%
• 1Y: 5.70%
• 3Y*: 3.00%
• 5Y*: —
• 10Y*: —

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

MLPA vs. BSMV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MLPA Global X MLP ETF	17.49%	5.73%	20.35%	15.93%	27.03%	7.11%
BSMV Invesco BulletShares 2031 Municipal Bond ETF	0.78%	4.03%	-0.28%	6.99%	-15.32%	0.66%

Correlation

The correlation between MLPA and BSMV is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (All Time) Calculated using the full available price history since Sep 22, 2021	0.01

The correlation between MLPA and BSMV shifts across timeframes, from -0.22 (1 year) to 0.01 (3 years), reflecting how their relationship changes across market environments.

MLPA vs. BSMV - Sectors Allocation Comparison

Sectors	MLPA	BSMV
Energy	96.9%	-
Utilities	3.1%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	0.0%
Consumer Defensive	-	-
Financial Services	-	3.5%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

MLPA vs. BSMV — Risk / Return Rank

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

MLPA

MLPA Risk / Return Rank: 47
MLPA Sharpe Ratio Rank: 49
MLPA Sortino Ratio Rank: 48
MLPA Omega Ratio Rank: 45
MLPA Calmar Ratio Rank: 49
MLPA Martin Ratio Rank: 45

BSMV

BSMV Risk / Return Rank: 63
BSMV Sharpe Ratio Rank: 71
BSMV Sortino Ratio Rank: 78
BSMV Omega Ratio Rank: 81
BSMV Calmar Ratio Rank: 43
BSMV Martin Ratio Rank: 41

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.

MLPA vs. BSMV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MLP ETF (MLPA) and Invesco BulletShares 2031 Municipal Bond ETF (BSMV). 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.

	MLPA	BSMV	Difference
Sharpe ratio: Return per unit of total volatility	1.66	2.28	-0.62
Sortino ratio: Return per unit of downside risk	2.35	3.43	-1.08
Omega ratio: Gain probability vs. loss probability	1.28	1.47	-0.19
Calmar ratio: Return relative to maximum drawdown	2.37	2.05	+0.32
Martin ratio: Return relative to average drawdown	7.19	6.34	+0.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MLPA vs. BSMV - Sharpe Ratio Comparison

The current MLPA Sharpe Ratio is 1.66, which is comparable to the BSMV Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of MLPA and BSMV, 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

	MLPA	BSMV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.66	2.28	-0.62
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	-0.18	+0.35

Drawdowns

MLPA vs. BSMV - Drawdown Comparison

The maximum MLPA drawdown since its inception was -78.75%, which is greater than BSMV's maximum drawdown of -20.68%. Use the drawdown chart below to compare losses from any high point for MLPA and BSMV.

Drawdown Indicators

	MLPA	BSMV	Difference
Max Drawdown Largest peak-to-trough decline	-78.75%	-20.68%	-58.07%
Max Drawdown (1Y) Largest decline over 1 year	-8.33%	-2.79%	-5.54%
Max Drawdown (3Y) Largest decline over 3 years	-14.20%	-6.63%	-7.57%
Max Drawdown (5Y) Largest decline over 5 years	-18.75%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-74.05%	—	—
Current Drawdown Current decline from peak	-2.67%	-5.33%	+2.66%
Average Drawdown Average peak-to-trough decline	-20.27%	-10.44%	-9.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	0.90%	+1.84%

Volatility

MLPA vs. BSMV - Volatility Comparison

Global X MLP ETF (MLPA) has a higher volatility of 4.67% compared to Invesco BulletShares 2031 Municipal Bond ETF (BSMV) at 0.82%. This indicates that MLPA's price experiences larger fluctuations and is considered to be riskier than BSMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLPA	BSMV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.67%	0.82%	+3.85%
Volatility (6M) Calculated over the trailing 6-month period	8.47%	1.79%	+6.68%
Volatility (1Y) Calculated over the trailing 1-year period	11.98%	2.51%	+9.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.22%	5.69%	+12.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.47%	5.69%	+21.78%

MLPA vs. BSMV - Expense Ratio Comparison

MLPA has a 0.46% expense ratio, which is higher than BSMV's 0.18% expense ratio.

Dividends

MLPA vs. BSMV - Dividend Comparison

MLPA's dividend yield for the trailing twelve months is around 7.19%, more than BSMV's 2.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BSMV Invesco BulletShares 2031 Municipal Bond ETF	2.90%	2.93%	3.10%	2.59%	2.21%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MLPA Global X MLP ETF	7.19%	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 BSMV in my portfolio?

MLPA and BSMV have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MLPA or BSMV?

MLPA has higher volatility (4.67%) compared to BSMV (0.82%). In terms of maximum drawdown, MLPA dropped -78.75% vs BSMV's -20.68%.

Which ETF is better, MLPA or BSMV?

On 3-year performance, MLPA leads with 17.58% vs 3.00% for BSMV. On fees, BSMV is cheaper at 0.18% per year. On volatility, BSMV has been the lower-risk option at 0.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MLPA or BSMV?

Over the 3-year period, MLPA has performed better with a 17.58% return vs 3.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MLPA or BSMV?

BSMV is cheaper with a 0.18% expense ratio, compared with 0.46% for MLPA.

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

MLPA has the higher dividend yield at 7.19%, compared with 2.90% for BSMV.

What is the main difference between MLPA and BSMV?

MLPA is categorized as MLPs, while BSMV is Municipal Bonds. MLPA tracks Solactive MLP Infrastructure Index, while BSMV tracks Invesco BulletShares Municipal Bond 2031 Index. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.46% for MLPA and 0.18% for BSMV.

Which has better risk-adjusted returns?

BSMV currently has the higher Sharpe Ratio (2.28 vs 1.66), 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.