MLPA vs. XLE

Last updated Jun 23, 2026

MLPA (Global X MLP ETF) and XLE (State Street Energy Select Sector SPDR ETF) are both exchange-traded funds - MLPA is a MLPs fund tracking the Solactive MLP Infrastructure Index, while XLE is a Energy Equities fund tracking the Energy Select Sector Index. Both are passively managed. Over the past 10 years, MLPA returned 5.85%/yr vs 9.29%/yr for XLE. A 0.67 correlation means they provide meaningful diversification when combined. MLPA charges 0.77%/yr vs 0.08%/yr for XLE.

Performance

MLPA vs. XLE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MLP ETF (MLPA) and State Street Energy Select Sector SPDR ETF (XLE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLPA achieves a 12.27% return, which is significantly lower than XLE's 22.58% return. Over the past 10 years, MLPA has underperformed XLE with an annualized return of 5.85%, while XLE has yielded a comparatively higher 9.29% annualized return.

MLPA

• 1D: 0.58%
• 1M: -6.12%
• YTD: 12.27%
• 6M: 12.23%
• 1Y: 12.25%
• 3Y*: 16.25%
• 5Y*: 14.32%
• 10Y*: 5.85%

XLE

• 1D: 1.26%
• 1M: -8.47%
• YTD: 22.58%
• 6M: 23.97%
• 1Y: 26.32%
• 3Y*: 15.44%
• 5Y*: 18.90%
• 10Y*: 9.29%

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

MLPA vs. XLE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLPA Global X MLP ETF	12.27%	5.73%	20.35%	15.93%	27.03%	39.64%	-33.97%	11.91%	-15.71%	-8.31%
XLE State Street Energy Select Sector SPDR ETF	22.58%	7.88%	5.56%	-0.63%	64.32%	53.28%	-32.67%	11.74%	-18.22%	-0.89%

Correlation

The correlation between MLPA and XLE is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Apr 19, 2012	0.67

The correlation between MLPA and XLE has been stable across timeframes, ranging from 0.62 to 0.70 - a consistent structural relationship.

MLPA vs. XLE - Sectors Allocation Comparison

Sectors	MLPA	XLE
Energy	96.8%	100.0%
Utilities	3.2%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

MLPA vs. XLE — Risk / Return Rank

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

MLPA

MLPA Risk / Return Rank: 29
MLPA Sharpe Ratio Rank: 29
MLPA Sortino Ratio Rank: 29
MLPA Omega Ratio Rank: 26
MLPA Calmar Ratio Rank: 30
MLPA Martin Ratio Rank: 30

XLE

XLE Risk / Return Rank: 36
XLE Sharpe Ratio Rank: 36
XLE Sortino Ratio Rank: 34
XLE Omega Ratio Rank: 32
XLE Calmar Ratio Rank: 39
XLE Martin Ratio Rank: 38

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. XLE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MLP ETF (MLPA) and State Street Energy Select Sector SPDR ETF (XLE). 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	XLE	Difference
Sharpe ratio: Return per unit of total volatility	1.02	1.26	-0.24
Sortino ratio: Return per unit of downside risk	1.50	1.75	-0.25
Omega ratio: Gain probability vs. loss probability	1.17	1.21	-0.04
Calmar ratio: Return relative to maximum drawdown	1.48	1.88	-0.41
Martin ratio: Return relative to average drawdown	4.18	5.70	-1.52

MLPA vs. XLE - Sharpe Ratio Comparison

The current MLPA Sharpe Ratio is 1.02, which is comparable to the XLE Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of MLPA and XLE, 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. XLE - Drawdown Comparison

The maximum MLPA drawdown since its inception was -78.75%, which is greater than XLE's maximum drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for MLPA and XLE.

Drawdown Indicators

	MLPA	XLE	Difference
Max Drawdown Largest peak-to-trough decline	-78.75%	-71.26%	-7.49%
Max Drawdown (1Y) Largest decline over 1 year	-8.33%	-14.05%	+5.72%
Max Drawdown (3Y) Largest decline over 3 years	-14.20%	-20.14%	+5.94%
Max Drawdown (5Y) Largest decline over 5 years	-18.75%	-26.04%	+7.29%
Max Drawdown (10Y) Largest decline over 10 years	-74.05%	-66.81%	-7.24%
Current Drawdown Current decline from peak	-6.99%	-12.96%	+5.97%
Average Drawdown Average peak-to-trough decline	-20.22%	-17.97%	-2.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.94%	4.66%	-1.72%

Volatility

MLPA vs. XLE - Volatility Comparison

The current volatility for Global X MLP ETF (MLPA) is 4.18%, while State Street Energy Select Sector SPDR ETF (XLE) has a volatility of 7.06%. This indicates that MLPA experiences smaller price fluctuations and is considered to be less risky than XLE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLPA	XLE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.18%	7.06%	-2.88%
Volatility (6M) Calculated over the trailing 6-month period	8.61%	16.89%	-8.28%
Volatility (1Y) Calculated over the trailing 1-year period	12.04%	20.96%	-8.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.06%	25.98%	-7.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.45%	29.62%	-2.17%

MLPA vs. XLE - Expense Ratio Comparison

MLPA has a 0.77% expense ratio, which is higher than XLE's 0.08% expense ratio.

Dividends

MLPA vs. XLE - Dividend Comparison

MLPA's dividend yield for the trailing twelve months is around 7.52%, more than XLE's 3.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLPA Global X MLP ETF	7.52%	7.82%	7.25%	7.49%	7.30%	8.72%	13.84%	9.09%	10.00%	8.05%	7.15%	9.29%
XLE State Street Energy Select Sector SPDR ETF	3.47%	3.28%	3.36%	3.55%	3.68%	4.21%	5.62%	6.72%	3.54%	3.03%	2.26%	3.39%

Frequently Asked Questions

Can I hold both MLPA and XLE in my portfolio?

MLPA and XLE have a correlation of 0.65, 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 XLE?

XLE has higher volatility (7.06%) compared to MLPA (4.18%). In terms of maximum drawdown, MLPA dropped -78.75% vs XLE's -71.26%.

Which ETF is better, MLPA or XLE?

On 10-year performance, XLE leads with 9.29% vs 5.85% for MLPA. On fees, XLE is cheaper at 0.08% per year. On volatility, MLPA has been the lower-risk option at 4.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MLPA or XLE?

Over the 10-year period, XLE has performed better with a 9.29% return vs 5.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MLPA or XLE?

XLE is cheaper with a 0.08% expense ratio, compared with 0.77% for MLPA.

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

MLPA has the higher dividend yield at 7.52%, compared with 3.47% for XLE.

What is the main difference between MLPA and XLE?

MLPA is categorized as MLPs, while XLE is Energy Equities. MLPA tracks Solactive MLP Infrastructure Index, while XLE tracks Energy Select Sector Index. They also come from different issuers: Global X and State Street. Their fees differ too: 0.77% for MLPA and 0.08% for XLE.

Which has better risk-adjusted returns?

XLE currently has the higher Sharpe Ratio (1.26 vs 1.02), 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.