MLPA vs. MLPX

Last updated Jun 24, 2026

MLPA (Global X MLP ETF) and MLPX (Global X MLP & Energy Infrastructure ETF) are both MLPs funds from Global X - MLPA tracks the Solactive MLP Infrastructure Index while MLPX tracks the Solactive MLP & Energy Infrastructure Index. Both are passively managed. Over the past 10 years, MLPA returned 6.04%/yr vs 12.45%/yr for MLPX. Their correlation of 0.87 suggests significant overlap in exposure. MLPA charges 0.77%/yr vs 0.45%/yr for MLPX.

Performance

MLPA vs. MLPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MLP ETF (MLPA) and Global X MLP & Energy Infrastructure ETF (MLPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLPA achieves a 14.27% return, which is significantly lower than MLPX's 25.35% return. Over the past 10 years, MLPA has underperformed MLPX with an annualized return of 6.04%, while MLPX has yielded a comparatively higher 12.45% annualized return.

MLPA

• 1D: 1.78%
• 1M: -4.45%
• YTD: 14.27%
• 6M: 14.04%
• 1Y: 15.23%
• 3Y*: 16.94%
• 5Y*: 14.82%
• 10Y*: 6.04%

MLPX

• 1D: 1.68%
• 1M: -3.98%
• YTD: 25.35%
• 6M: 25.51%
• 1Y: 27.11%
• 3Y*: 29.56%
• 5Y*: 21.27%
• 10Y*: 12.45%

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

MLPA vs. MLPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLPA Global X MLP ETF	14.27%	5.73%	20.35%	15.93%	27.03%	39.64%	-33.97%	11.91%	-15.71%	-8.31%
MLPX Global X MLP & Energy Infrastructure ETF	25.35%	4.96%	42.90%	15.77%	21.54%	39.63%	-20.32%	19.04%	-15.64%	-4.53%

Correlation

The correlation between MLPA and MLPX is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Aug 7, 2013	0.87

The correlation between MLPA and MLPX has been stable across timeframes, ranging from 0.80 to 0.87 - a consistent structural relationship.

MLPA vs. MLPX - Sectors Allocation Comparison

Sectors	MLPA	MLPX
Energy	96.8%	99.5%
Utilities	3.2%	0.3%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

MLPA vs. MLPX — Risk / Return Rank

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

MLPA

MLPA Risk / Return Rank: 36
MLPA Sharpe Ratio Rank: 37
MLPA Sortino Ratio Rank: 36
MLPA Omega Ratio Rank: 33
MLPA Calmar Ratio Rank: 37
MLPA Martin Ratio Rank: 36

MLPX

MLPX Risk / Return Rank: 55
MLPX Sharpe Ratio Rank: 54
MLPX Sortino Ratio Rank: 53
MLPX Omega Ratio Rank: 49
MLPX Calmar Ratio Rank: 69
MLPX Martin Ratio Rank: 49

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. MLPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MLP ETF (MLPA) and Global X MLP & Energy Infrastructure ETF (MLPX). 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	MLPX	Difference
Sharpe ratio: Return per unit of total volatility	1.26	1.77	-0.51
Sortino ratio: Return per unit of downside risk	1.83	2.46	-0.63
Omega ratio: Gain probability vs. loss probability	1.21	1.30	-0.09
Calmar ratio: Return relative to maximum drawdown	1.84	3.33	-1.49
Martin ratio: Return relative to average drawdown	5.17	8.00	-2.83

MLPA vs. MLPX - Sharpe Ratio Comparison

The current MLPA Sharpe Ratio is 1.26, which is comparable to the MLPX Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of MLPA and MLPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MLPA vs. MLPX - Drawdown Comparison

The maximum MLPA drawdown since its inception was -78.75%, which is greater than MLPX's maximum drawdown of -70.67%. Use the drawdown chart below to compare losses from any high point for MLPA and MLPX.

Drawdown Indicators

	MLPA	MLPX	Difference
Max Drawdown Largest peak-to-trough decline	-78.75%	-70.67%	-8.08%
Max Drawdown (1Y) Largest decline over 1 year	-8.33%	-8.18%	-0.15%
Max Drawdown (3Y) Largest decline over 3 years	-14.20%	-16.77%	+2.57%
Max Drawdown (5Y) Largest decline over 5 years	-18.75%	-19.72%	+0.97%
Max Drawdown (10Y) Largest decline over 10 years	-74.05%	-64.70%	-9.35%
Current Drawdown Current decline from peak	-5.33%	-4.34%	-0.99%
Average Drawdown Average peak-to-trough decline	-20.21%	-16.58%	-3.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.96%	3.40%	-0.44%

Volatility

MLPA vs. MLPX - Volatility Comparison

The current volatility for Global X MLP ETF (MLPA) is 4.66%, while Global X MLP & Energy Infrastructure ETF (MLPX) has a volatility of 5.80%. This indicates that MLPA experiences smaller price fluctuations and is considered to be less risky than MLPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLPA	MLPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.66%	5.80%	-1.14%
Volatility (6M) Calculated over the trailing 6-month period	8.76%	11.78%	-3.02%
Volatility (1Y) Calculated over the trailing 1-year period	12.14%	15.43%	-3.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.08%	19.99%	-1.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.44%	26.47%	+0.97%

MLPA vs. MLPX - Expense Ratio Comparison

MLPA has a 0.77% expense ratio, which is higher than MLPX's 0.45% expense ratio.

Dividends

MLPA vs. MLPX - Dividend Comparison

MLPA's dividend yield for the trailing twelve months is around 7.39%, more than MLPX's 4.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLPA Global X MLP ETF	7.39%	7.82%	7.25%	7.49%	7.30%	8.72%	13.84%	9.09%	10.00%	8.05%	7.15%	9.29%
MLPX Global X MLP & Energy Infrastructure ETF	4.09%	4.88%	4.30%	5.22%	5.23%	5.98%	8.32%	5.78%	5.77%	4.36%	5.50%	4.81%

Frequently Asked Questions

Can I hold both MLPA and MLPX in my portfolio?

MLPA and MLPX have a correlation of 0.83, 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 MLPX?

MLPX has higher volatility (5.80%) compared to MLPA (4.66%). In terms of maximum drawdown, MLPA dropped -78.75% vs MLPX's -70.67%.

Which ETF is better, MLPA or MLPX?

On 10-year performance, MLPX leads with 12.45% vs 6.04% for MLPA. On fees, MLPX is cheaper at 0.45% per year. On volatility, MLPA has been the lower-risk option at 4.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MLPA or MLPX?

Over the 10-year period, MLPX has performed better with a 12.45% return vs 6.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MLPA or MLPX?

MLPX is cheaper with a 0.45% expense ratio, compared with 0.77% for MLPA.

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

MLPA has the higher dividend yield at 7.39%, compared with 4.09% for MLPX.

What is the main difference between MLPA and MLPX?

MLPA tracks Solactive MLP Infrastructure Index, while MLPX tracks Solactive MLP & Energy Infrastructure Index. Their fees differ too: 0.77% for MLPA and 0.45% for MLPX.

Which has better risk-adjusted returns?

MLPX currently has the higher Sharpe Ratio (1.77 vs 1.26), 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.