MLPA vs. VNQ

Last updated Jun 13, 2026

MLPA (Global X MLP ETF) and VNQ (Vanguard Real Estate ETF) are both exchange-traded funds - MLPA is a MLPs fund tracking the Solactive MLP Infrastructure Index, while VNQ is a REIT fund tracking the MSCI US Investable Market Real Estate 25/50 Index. Both are passively managed. Over the past 10 years, MLPA returned 6.37%/yr vs 5.65%/yr for VNQ. At a 0.33 correlation, their price movements are largely independent. MLPA charges 0.46%/yr vs 0.13%/yr for VNQ.

Performance

MLPA vs. VNQ - Performance Comparison

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

Returns By Period

In the year-to-date period, MLPA achieves a 14.72% return, which is significantly higher than VNQ's 12.51% return. Over the past 10 years, MLPA has outperformed VNQ with an annualized return of 6.37%, while VNQ has yielded a comparatively lower 5.65% annualized return.

MLPA

• 1D: -0.93%
• 1M: -2.03%
• YTD: 14.72%
• 6M: 13.78%
• 1Y: 13.46%
• 3Y*: 16.87%
• 5Y*: 13.94%
• 10Y*: 6.37%

VNQ

• 1D: 0.92%
• 1M: 2.73%
• YTD: 12.51%
• 6M: 12.32%
• 1Y: 12.92%
• 3Y*: 10.14%
• 5Y*: 2.55%
• 10Y*: 5.65%

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

MLPA vs. VNQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLPA Global X MLP ETF	14.72%	5.73%	20.35%	15.93%	27.03%	39.64%	-33.97%	11.91%	-15.71%	-8.31%
VNQ Vanguard Real Estate ETF	12.51%	3.24%	4.81%	11.85%	-26.25%	40.54%	-4.61%	28.91%	-6.03%	4.90%

Correlation

The correlation between MLPA and VNQ is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.34
Correlation (All Time) Calculated using the full available price history since Apr 19, 2012	0.33

The correlation between MLPA and VNQ shifts across timeframes, from 0.19 (1 year) to 0.37 (5 years), reflecting how their relationship changes across market environments.

MLPA vs. VNQ - Sectors Allocation Comparison

Sectors	MLPA	VNQ
Energy	96.9%	0.1%
Utilities	3.1%	-
Basic Materials	-	1.1%
Communication Services	-	0.6%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	0.1%
Healthcare	-	-
Industrials	-	0.0%
Real Estate	-	97.3%
Technology	-	0.3%

Return for Risk

MLPA vs. VNQ — Risk / Return Rank

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

MLPA

MLPA Risk / Return Rank: 35
MLPA Sharpe Ratio Rank: 36
MLPA Sortino Ratio Rank: 35
MLPA Omega Ratio Rank: 32
MLPA Calmar Ratio Rank: 37
MLPA Martin Ratio Rank: 36

VNQ

VNQ Risk / Return Rank: 32
VNQ Sharpe Ratio Rank: 30
VNQ Sortino Ratio Rank: 28
VNQ Omega Ratio Rank: 28
VNQ Calmar Ratio Rank: 35
VNQ Martin Ratio Rank: 36

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. VNQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MLP ETF (MLPA) and Vanguard Real Estate ETF (VNQ). 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	VNQ	Difference
Sharpe ratio: Return per unit of total volatility	1.13	0.96	+0.17
Sortino ratio: Return per unit of downside risk	1.65	1.39	+0.26
Omega ratio: Gain probability vs. loss probability	1.19	1.17	+0.02
Calmar ratio: Return relative to maximum drawdown	1.62	1.56	+0.07
Martin ratio: Return relative to average drawdown	4.85	4.90	-0.05

MLPA vs. VNQ - Sharpe Ratio Comparison

The current MLPA Sharpe Ratio is 1.13, which is comparable to the VNQ Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of MLPA and VNQ, 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. VNQ - Drawdown Comparison

The maximum MLPA drawdown since its inception was -78.75%, which is greater than VNQ's maximum drawdown of -73.07%. Use the drawdown chart below to compare losses from any high point for MLPA and VNQ.

Drawdown Indicators

	MLPA	VNQ	Difference
Max Drawdown Largest peak-to-trough decline	-78.75%	-73.07%	-5.68%
Max Drawdown (1Y) Largest decline over 1 year	-8.33%	-8.34%	+0.01%
Max Drawdown (3Y) Largest decline over 3 years	-14.20%	-17.46%	+3.26%
Max Drawdown (5Y) Largest decline over 5 years	-18.75%	-34.48%	+15.73%
Max Drawdown (10Y) Largest decline over 10 years	-74.05%	-42.40%	-31.65%
Current Drawdown Current decline from peak	-4.96%	0.00%	-4.96%
Average Drawdown Average peak-to-trough decline	-20.24%	-13.61%	-6.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	2.65%	+0.15%

Volatility

MLPA vs. VNQ - Volatility Comparison

The current volatility for Global X MLP ETF (MLPA) is 4.39%, while Vanguard Real Estate ETF (VNQ) has a volatility of 4.72%. This indicates that MLPA experiences smaller price fluctuations and is considered to be less risky than VNQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLPA	VNQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.39%	4.72%	-0.33%
Volatility (6M) Calculated over the trailing 6-month period	8.56%	9.77%	-1.21%
Volatility (1Y) Calculated over the trailing 1-year period	11.93%	13.54%	-1.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.19%	18.84%	-0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.45%	20.72%	+6.73%

MLPA vs. VNQ - Expense Ratio Comparison

MLPA has a 0.46% expense ratio, which is higher than VNQ's 0.13% expense ratio.

Dividends

MLPA vs. VNQ - Dividend Comparison

MLPA's dividend yield for the trailing twelve months is around 7.36%, more than VNQ's 3.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLPA Global X MLP ETF	7.36%	7.82%	7.25%	7.49%	7.30%	8.72%	13.84%	9.09%	10.00%	8.05%	7.15%	9.29%
VNQ Vanguard Real Estate ETF	3.54%	3.92%	3.85%	3.95%	3.91%	2.56%	3.93%	3.39%	4.74%	4.23%	4.82%	3.92%

Frequently Asked Questions

Can I hold both MLPA and VNQ in my portfolio?

MLPA and VNQ have a correlation of 0.19, 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 VNQ?

VNQ has higher volatility (4.72%) compared to MLPA (4.39%). In terms of maximum drawdown, MLPA dropped -78.75% vs VNQ's -73.07%.

Which ETF is better, MLPA or VNQ?

On 10-year performance, MLPA leads with 6.37% vs 5.65% for VNQ. On fees, VNQ is cheaper at 0.13% per year. On volatility, MLPA has been the lower-risk option at 4.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MLPA or VNQ?

Over the 10-year period, MLPA has performed better with a 6.37% return vs 5.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MLPA or VNQ?

VNQ is cheaper with a 0.13% expense ratio, compared with 0.46% for MLPA.

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

MLPA has the higher dividend yield at 7.36%, compared with 3.54% for VNQ.

What is the main difference between MLPA and VNQ?

MLPA is categorized as MLPs, while VNQ is REIT. MLPA tracks Solactive MLP Infrastructure Index, while VNQ tracks MSCI US Investable Market Real Estate 25/50 Index. They also come from different issuers: Global X and Vanguard. Their fees differ too: 0.46% for MLPA and 0.13% for VNQ.

Which has better risk-adjusted returns?

MLPA currently has the higher Sharpe Ratio (1.13 vs 0.96), 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.