MLPA vs. EEIIX

Last updated Jun 4, 2026

MLPA (Global X MLP ETF) and EEIIX (Eaton Vance Emerging Markets Local Income Fund Class I) are both funds - MLPA is a MLPs fund tracking the Solactive MLP Infrastructure Index, while EEIIX is a Emerging Markets Bonds fund actively managed by Eaton Vance. MLPA is passively managed, while EEIIX is actively managed. Over the past 10 years, MLPA returned 6.22%/yr vs 5.46%/yr for EEIIX. At a 0.28 correlation, their price movements are largely independent. MLPA charges 0.46%/yr vs 1.01%/yr for EEIIX.

Performance

MLPA vs. EEIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MLP ETF (MLPA) and Eaton Vance Emerging Markets Local Income Fund Class I (EEIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLPA achieves a 16.07% return, which is significantly higher than EEIIX's 4.15% return. Over the past 10 years, MLPA has outperformed EEIIX with an annualized return of 6.22%, while EEIIX has yielded a comparatively lower 5.46% annualized return.

MLPA

• 1D: -0.31%
• 1M: -0.52%
• YTD: 16.07%
• 6M: 14.82%
• 1Y: 16.32%
• 3Y*: 17.12%
• 5Y*: 15.58%
• 10Y*: 6.22%

EEIIX

• 1D: 0.28%
• 1M: 1.34%
• YTD: 4.15%
• 6M: 5.75%
• 1Y: 17.49%
• 3Y*: 11.32%
• 5Y*: 4.50%
• 10Y*: 5.46%

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

MLPA vs. EEIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLPA Global X MLP ETF	16.07%	5.73%	20.35%	15.93%	27.03%	39.64%	-33.97%	11.91%	-15.71%	-8.31%
EEIIX Eaton Vance Emerging Markets Local Income Fund Class I	4.15%	26.00%	-0.97%	13.95%	-11.53%	-7.57%	5.00%	23.01%	-8.11%	16.45%

Correlation

The correlation between MLPA and EEIIX is -0.08, 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	-0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.19
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Apr 20, 2012	0.28

The correlation between MLPA and EEIIX shifts across timeframes, from -0.08 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MLPA vs. EEIIX — Risk / Return Rank

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

MLPA

MLPA Risk / Return Rank: 37
MLPA Sharpe Ratio Rank: 38
MLPA Sortino Ratio Rank: 37
MLPA Omega Ratio Rank: 34
MLPA Calmar Ratio Rank: 39
MLPA Martin Ratio Rank: 37

EEIIX

EEIIX Risk / Return Rank: 61
EEIIX Sharpe Ratio Rank: 72
EEIIX Sortino Ratio Rank: 72
EEIIX Omega Ratio Rank: 78
EEIIX Calmar Ratio Rank: 41
EEIIX Martin Ratio Rank: 42

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. EEIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MLP ETF (MLPA) and Eaton Vance Emerging Markets Local Income Fund Class I (EEIIX). 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	EEIIX	Difference
Sharpe ratio: Return per unit of total volatility	1.37	2.46	-1.09
Sortino ratio: Return per unit of downside risk	1.96	3.54	-1.58
Omega ratio: Gain probability vs. loss probability	1.23	1.51	-0.28
Calmar ratio: Return relative to maximum drawdown	1.97	2.44	-0.47
Martin ratio: Return relative to average drawdown	5.99	8.94	-2.95
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. EEIIX - Sharpe Ratio Comparison

The current MLPA Sharpe Ratio is 1.37, which is lower than the EEIIX Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of MLPA and EEIIX, 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	EEIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	2.46	-1.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	0.56	+0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	0.65	-0.43
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.42	-0.26

Drawdowns

MLPA vs. EEIIX - Drawdown Comparison

The maximum MLPA drawdown since its inception was -78.75%, which is greater than EEIIX's maximum drawdown of -31.11%. Use the drawdown chart below to compare losses from any high point for MLPA and EEIIX.

Drawdown Indicators

	MLPA	EEIIX	Difference
Max Drawdown Largest peak-to-trough decline	-78.75%	-31.11%	-47.64%
Max Drawdown (1Y) Largest decline over 1 year	-8.33%	-7.20%	-1.13%
Max Drawdown (3Y) Largest decline over 3 years	-14.20%	-9.28%	-4.92%
Max Drawdown (5Y) Largest decline over 5 years	-18.75%	-26.28%	+7.53%
Max Drawdown (10Y) Largest decline over 10 years	-74.05%	-28.05%	-46.00%
Current Drawdown Current decline from peak	-3.84%	-1.61%	-2.23%
Average Drawdown Average peak-to-trough decline	-20.27%	-8.70%	-11.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	1.96%	+0.77%

Volatility

MLPA vs. EEIIX - Volatility Comparison

Global X MLP ETF (MLPA) has a higher volatility of 4.50% compared to Eaton Vance Emerging Markets Local Income Fund Class I (EEIIX) at 2.18%. This indicates that MLPA's price experiences larger fluctuations and is considered to be riskier than EEIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLPA	EEIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.50%	2.18%	+2.32%
Volatility (6M) Calculated over the trailing 6-month period	8.47%	6.11%	+2.36%
Volatility (1Y) Calculated over the trailing 1-year period	12.00%	7.14%	+4.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.21%	8.06%	+10.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.47%	8.38%	+19.09%

MLPA vs. EEIIX - Expense Ratio Comparison

MLPA has a 0.46% expense ratio, which is lower than EEIIX's 1.01% expense ratio.

Dividends

MLPA vs. EEIIX - Dividend Comparison

MLPA's dividend yield for the trailing twelve months is around 7.28%, less than EEIIX's 10.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EEIIX Eaton Vance Emerging Markets Local Income Fund Class I	10.23%	10.36%	11.46%	11.62%	13.71%	11.49%	10.06%	13.31%	10.80%	9.04%	11.27%	12.21%
MLPA Global X MLP ETF	7.28%	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 EEIIX in my portfolio?

MLPA and EEIIX have a correlation of -0.08, 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 EEIIX?

MLPA has higher volatility (4.50%) compared to EEIIX (2.18%). In terms of maximum drawdown, MLPA dropped -78.75% vs EEIIX's -31.11%.

Which has better risk-adjusted returns?

EEIIX currently has the higher Sharpe Ratio (2.46 vs 1.37), 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.