MLPA vs. LMBS
MLPA (Global X MLP ETF) and LMBS (First Trust Low Duration Mortgage Opportunities ETF) are both exchange-traded funds - MLPA is a MLPs fund tracking the Solactive MLP Infrastructure Index, while LMBS is a Mortgage Backed Securities fund actively managed by First Trust. MLPA is passively managed, while LMBS is actively managed. Over the past 10 years, MLPA returned 6.12%/yr vs 2.66%/yr for LMBS. At a correlation of -0.06, they often move in opposite directions. MLPA charges 0.77%/yr vs 0.68%/yr for LMBS.
Performance
MLPA vs. LMBS - Performance Comparison
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Returns By Period
In the year-to-date period, MLPA achieves a 18.84% return, which is significantly higher than LMBS's 1.65% return. Over the past 10 years, MLPA has outperformed LMBS with an annualized return of 6.12%, while LMBS has yielded a comparatively lower 2.66% annualized return.
MLPA
- 1D
- 1.35%
- 1M
- 5.69%
- 6M
- 13.90%
- YTD
- 18.84%
- 1Y
- 19.55%
- 3Y*
- 16.97%
- 5Y*
- 17.70%
- 10Y*
- 6.12%
LMBS
- 1D
- -0.02%
- 1M
- 0.04%
- 6M
- 1.13%
- YTD
- 1.65%
- 1Y
- 5.49%
- 3Y*
- 5.73%
- 5Y*
- 3.17%
- 10Y*
- 2.66%
MLPA vs. LMBS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MLPA Global X MLP ETF | 18.84% | 5.73% | 20.35% | 15.93% | 27.03% | 39.64% | -33.97% | 11.91% | -15.71% | -8.31% |
LMBS First Trust Low Duration Mortgage Opportunities ETF | 1.65% | 7.05% | 5.15% | 6.10% | -3.07% | -0.91% | 1.64% | 4.10% | 1.62% | 1.68% |
Correlation
The correlation between MLPA and LMBS 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 | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2014 | -0.06 |
The correlation between MLPA and LMBS shifts across timeframes, from -0.22 (1 year) to -0.02 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MLPA vs. LMBS — Risk / Return Rank
MLPA
LMBS
MLPA vs. LMBS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X MLP ETF (MLPA) and First Trust Low Duration Mortgage Opportunities ETF (LMBS). 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 | LMBS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.25 | ||
| Sortino ratioReturn per unit of downside risk | -1.95 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.57 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 2.36 | 3.86 | -1.50 |
| Martin ratioReturn relative to average drawdown | 6.17 | 16.09 | -9.93 |
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Drawdowns
MLPA vs. LMBS - Drawdown Comparison
The maximum MLPA drawdown since its inception was -78.75%, which is greater than LMBS's maximum drawdown of -6.49%. Use the drawdown chart below to compare losses from any high point for MLPA and LMBS.
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Drawdown Indicators
| MLPA | LMBS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.75% | -6.49% | -72.26% |
Max Drawdown (1Y)Largest decline over 1 year | -8.33% | -1.43% | -6.90% |
Max Drawdown (3Y)Largest decline over 3 years | -14.20% | -1.72% | -12.48% |
Max Drawdown (5Y)Largest decline over 5 years | -18.75% | -6.06% | -12.69% |
Max Drawdown (10Y)Largest decline over 10 years | -74.05% | -6.49% | -67.56% |
Current DrawdownCurrent decline from peak | -1.55% | -0.10% | -1.45% |
Average DrawdownAverage peak-to-trough decline | -20.14% | -0.80% | -19.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.18% | 0.34% | +2.84% |
Volatility
MLPA vs. LMBS - Volatility Comparison
Global X MLP ETF (MLPA) has a higher volatility of 5.09% compared to First Trust Low Duration Mortgage Opportunities ETF (LMBS) at 0.75%. This indicates that MLPA's price experiences larger fluctuations and is considered to be riskier than LMBS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MLPA | LMBS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.09% | 0.75% | +4.34% |
Volatility (6M)Calculated over the trailing 6-month period | 9.52% | 1.53% | +7.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.54% | 1.96% | +10.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.99% | 2.58% | +15.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.40% | 2.35% | +25.05% |
MLPA vs. LMBS - Expense Ratio Comparison
MLPA has a 0.77% expense ratio, which is higher than LMBS's 0.68% expense ratio.
Dividends
MLPA vs. LMBS - Dividend Comparison
MLPA's dividend yield for the trailing twelve months is around 7.11%, more than LMBS's 4.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LMBS First Trust Low Duration Mortgage Opportunities ETF | 4.10% | 4.08% | 4.28% | 3.96% | 2.22% | 2.04% | 2.27% | 2.55% | 2.76% | 2.73% | 2.84% | 3.03% |
MLPA Global X MLP ETF | 7.11% | 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
MLPA and LMBS 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.
MLPA has higher volatility (5.09%) compared to LMBS (0.75%). In terms of maximum drawdown, MLPA dropped -78.75% vs LMBS's -6.49%.
On 10-year performance, MLPA leads with 6.12% vs 2.66% for LMBS. On fees, LMBS is cheaper at 0.68% per year. On volatility, LMBS has been the lower-risk option at 0.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, MLPA has performed better with a 6.12% return vs 2.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LMBS is cheaper with a 0.68% expense ratio, compared with 0.77% for MLPA.
MLPA has the higher dividend yield at 7.11%, compared with 4.10% for LMBS.
MLPA is categorized as MLPs, while LMBS is Mortgage Backed Securities. They also come from different issuers: Global X and First Trust. Their fees differ too: 0.77% for MLPA and 0.68% for LMBS.
LMBS currently has the higher Sharpe Ratio (2.81 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.
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