MLPA vs. EIPI

Last updated Jun 5, 2026

MLPA (Global X MLP ETF) and EIPI (FT Energy Income Partners Enhanced Income ETF) are both exchange-traded funds - MLPA is a MLPs fund tracking the Solactive MLP Infrastructure Index, while EIPI is a Derivative Income fund actively managed by First Trust. MLPA is passively managed, while EIPI is actively managed. Over the past year, MLPA returned 19.63% vs 23.89% for EIPI. A 0.79 correlation means they provide meaningful diversification when combined. MLPA charges 0.46%/yr vs 1.11%/yr for EIPI.

Performance

MLPA vs. EIPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MLP ETF (MLPA) and FT Energy Income Partners Enhanced Income ETF (EIPI). 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 EIPI's 15.54% 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%

EIPI

• 1D: 0.86%
• 1M: -1.09%
• YTD: 15.54%
• 6M: 14.03%
• 1Y: 23.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MLPA vs. EIPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MLPA Global X MLP ETF	17.49%	5.73%	8.94%
EIPI FT Energy Income Partners Enhanced Income ETF	15.54%	12.38%	12.83%

Correlation

The correlation between MLPA and EIPI is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (All Time) Calculated using the full available price history since May 7, 2024	0.79

The correlation between MLPA and EIPI has been stable across timeframes, ranging from 0.79 to 0.80 - a consistent structural relationship.

MLPA vs. EIPI - Sectors Allocation Comparison

Sectors	MLPA	EIPI
Energy	96.9%	62.8%
Utilities	3.1%	31.0%
Basic Materials	-	0.7%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	5.5%
Real Estate	-	-
Technology	-	-

Return for Risk

MLPA vs. EIPI — 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

EIPI

EIPI Risk / Return Rank: 83
EIPI Sharpe Ratio Rank: 79
EIPI Sortino Ratio Rank: 83
EIPI Omega Ratio Rank: 74
EIPI Calmar Ratio Rank: 92
EIPI Martin Ratio Rank: 86

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. EIPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MLP ETF (MLPA) and FT Energy Income Partners Enhanced Income ETF (EIPI). 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	EIPI	Difference
Sharpe ratio: Return per unit of total volatility	1.66	2.53	-0.87
Sortino ratio: Return per unit of downside risk	2.35	3.69	-1.34
Omega ratio: Gain probability vs. loss probability	1.28	1.43	-0.15
Calmar ratio: Return relative to maximum drawdown	2.37	6.00	-3.63
Martin ratio: Return relative to average drawdown	7.19	18.08	-10.89
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. EIPI - Sharpe Ratio Comparison

The current MLPA Sharpe Ratio is 1.66, which is lower than the EIPI Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of MLPA and EIPI, 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	EIPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.66	2.53	-0.87
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	1.55	-1.39

Drawdowns

MLPA vs. EIPI - Drawdown Comparison

The maximum MLPA drawdown since its inception was -78.75%, which is greater than EIPI's maximum drawdown of -12.33%. Use the drawdown chart below to compare losses from any high point for MLPA and EIPI.

Drawdown Indicators

	MLPA	EIPI	Difference
Max Drawdown Largest peak-to-trough decline	-78.75%	-12.33%	-66.42%
Max Drawdown (1Y) Largest decline over 1 year	-8.33%	-4.00%	-4.33%
Max Drawdown (3Y) Largest decline over 3 years	-14.20%	—	—
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%	-1.78%	-0.89%
Average Drawdown Average peak-to-trough decline	-20.27%	-1.67%	-18.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.74%	1.32%	+1.42%

Volatility

MLPA vs. EIPI - Volatility Comparison

Global X MLP ETF (MLPA) has a higher volatility of 4.67% compared to FT Energy Income Partners Enhanced Income ETF (EIPI) at 3.71%. This indicates that MLPA's price experiences larger fluctuations and is considered to be riskier than EIPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLPA	EIPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.67%	3.71%	+0.96%
Volatility (6M) Calculated over the trailing 6-month period	8.47%	7.26%	+1.21%
Volatility (1Y) Calculated over the trailing 1-year period	11.98%	9.58%	+2.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.22%	13.08%	+5.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.47%	13.08%	+14.39%

MLPA vs. EIPI - Expense Ratio Comparison

MLPA has a 0.46% expense ratio, which is lower than EIPI's 1.11% expense ratio.

Dividends

MLPA vs. EIPI - Dividend Comparison

MLPA's dividend yield for the trailing twelve months is around 7.19%, more than EIPI's 6.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIPI FT Energy Income Partners Enhanced Income ETF	6.72%	9.71%	6.31%	0.00%	0.00%	0.00%	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 EIPI in my portfolio?

MLPA and EIPI have a correlation of 0.80, 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 EIPI?

MLPA has higher volatility (4.67%) compared to EIPI (3.71%). In terms of maximum drawdown, MLPA dropped -78.75% vs EIPI's -12.33%.

Which ETF is better, MLPA or EIPI?

On 1-year performance, EIPI leads with 23.89% vs 19.63% for MLPA. On fees, MLPA is cheaper at 0.46% per year. On volatility, EIPI has been the lower-risk option at 3.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MLPA or EIPI?

Over the 1-year period, EIPI has performed better with a 23.89% return vs 19.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MLPA or EIPI?

MLPA is cheaper with a 0.46% expense ratio, compared with 1.11% for EIPI.

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

MLPA has the higher dividend yield at 7.19%, compared with 6.72% for EIPI.

What is the main difference between MLPA and EIPI?

MLPA is categorized as MLPs, while EIPI is Derivative Income. They also come from different issuers: Global X and First Trust. Their fees differ too: 0.46% for MLPA and 1.11% for EIPI.

Which has better risk-adjusted returns?

EIPI currently has the higher Sharpe Ratio (2.53 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.