MLPA vs. MLPB

Last updated Jun 4, 2026

MLPA (Global X MLP ETF) and MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B) are both MLPs funds - MLPA tracks the Solactive MLP Infrastructure Index while MLPB tracks the Alerian MLP Infrastructure Index. Both are passively managed. Over the past 10 years, MLPA returned 6.22%/yr vs 10.20%/yr for MLPB. A 0.76 correlation means they provide meaningful diversification when combined. MLPA charges 0.46%/yr vs 0.85%/yr for MLPB.

Performance

MLPA vs. MLPB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MLP ETF (MLPA) and ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB). 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 lower than MLPB's 19.72% return. Over the past 10 years, MLPA has underperformed MLPB with an annualized return of 6.22%, while MLPB has yielded a comparatively higher 10.20% 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%

MLPB

• 1D: -0.05%
• 1M: -0.42%
• YTD: 19.72%
• 6M: 18.24%
• 1Y: 20.60%
• 3Y*: 22.21%
• 5Y*: 19.42%
• 10Y*: 10.20%

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

MLPA vs. MLPB - 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%
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B	19.72%	7.40%	25.53%	22.01%	30.22%	39.42%	-30.80%	5.69%	-8.79%	-9.71%

Correlation

The correlation between MLPA and MLPB is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015	0.76

The correlation between MLPA and MLPB shifts across timeframes, from 0.76 (all time) to 0.95 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

MLPA vs. MLPB — 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

MLPB

MLPB Risk / Return Rank: 42
MLPB Sharpe Ratio Rank: 43
MLPB Sortino Ratio Rank: 42
MLPB Omega Ratio Rank: 40
MLPB Calmar Ratio Rank: 43
MLPB 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. MLPB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MLP ETF (MLPA) and ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB). 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	MLPB	Difference
Sharpe ratio: Return per unit of total volatility	1.37	1.54	-0.17
Sortino ratio: Return per unit of downside risk	1.96	2.16	-0.20
Omega ratio: Gain probability vs. loss probability	1.23	1.26	-0.03
Calmar ratio: Return relative to maximum drawdown	1.97	2.14	-0.17
Martin ratio: Return relative to average drawdown	5.99	6.60	-0.60
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. MLPB - Sharpe Ratio Comparison

The current MLPA Sharpe Ratio is 1.37, which is comparable to the MLPB Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of MLPA and MLPB, 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	MLPB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	1.54	-0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.86	0.97	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	0.37	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.24	-0.07

Drawdowns

MLPA vs. MLPB - Drawdown Comparison

The maximum MLPA drawdown since its inception was -78.75%, which is greater than MLPB's maximum drawdown of -71.93%. Use the drawdown chart below to compare losses from any high point for MLPA and MLPB.

Drawdown Indicators

	MLPA	MLPB	Difference
Max Drawdown Largest peak-to-trough decline	-78.75%	-71.93%	-6.82%
Max Drawdown (1Y) Largest decline over 1 year	-8.33%	-9.68%	+1.35%
Max Drawdown (3Y) Largest decline over 3 years	-14.20%	-16.49%	+2.29%
Max Drawdown (5Y) Largest decline over 5 years	-18.75%	-20.41%	+1.66%
Max Drawdown (10Y) Largest decline over 10 years	-74.05%	-71.93%	-2.12%
Current Drawdown Current decline from peak	-3.84%	-4.69%	+0.85%
Average Drawdown Average peak-to-trough decline	-20.27%	-14.83%	-5.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	3.13%	-0.40%

Volatility

MLPA vs. MLPB - Volatility Comparison

The current volatility for Global X MLP ETF (MLPA) is 4.50%, while ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB) has a volatility of 5.40%. This indicates that MLPA experiences smaller price fluctuations and is considered to be less risky than MLPB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLPA	MLPB	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.50%	5.40%	-0.90%
Volatility (6M) Calculated over the trailing 6-month period	8.47%	10.05%	-1.58%
Volatility (1Y) Calculated over the trailing 1-year period	12.00%	13.51%	-1.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.21%	20.03%	-1.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.47%	28.11%	-0.64%

MLPA vs. MLPB - Expense Ratio Comparison

MLPA has a 0.46% expense ratio, which is lower than MLPB's 0.85% expense ratio.

Dividends

MLPA vs. MLPB - Dividend Comparison

MLPA's dividend yield for the trailing twelve months is around 7.28%, more than MLPB's 5.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B	5.85%	6.51%	5.95%	6.37%	6.00%	6.98%	11.93%	7.98%	8.11%	7.23%	6.85%	0.00%

Frequently Asked Questions

Can I hold both MLPA and MLPB in my portfolio?

With a correlation of 0.94, MLPA and MLPB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MLPA or MLPB?

MLPB has higher volatility (5.40%) compared to MLPA (4.50%). In terms of maximum drawdown, MLPA dropped -78.75% vs MLPB's -71.93%.

Which ETF is better, MLPA or MLPB?

On 10-year performance, MLPB leads with 10.20% vs 6.22% for MLPA. On fees, MLPA is cheaper at 0.46% per year. On volatility, MLPA has been the lower-risk option at 4.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MLPA or MLPB?

Over the 10-year period, MLPB has performed better with a 10.20% return vs 6.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MLPA or MLPB?

MLPA is cheaper with a 0.46% expense ratio, compared with 0.85% for MLPB.

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

MLPA has the higher dividend yield at 7.28%, compared with 5.85% for MLPB.

What is the main difference between MLPA and MLPB?

MLPA tracks Solactive MLP Infrastructure Index, while MLPB tracks Alerian MLP Infrastructure Index. They also come from different issuers: Global X and UBS. Their fees differ too: 0.46% for MLPA and 0.85% for MLPB.

Which has better risk-adjusted returns?

MLPB currently has the higher Sharpe Ratio (1.54 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.