MLPAX vs. MLPLX
Compare and contrast key facts about Invesco SteelPath MLP Alpha Fund Class A (MLPAX) and Invesco SteelPath MLP Alpha Plus Fund Class A (MLPLX).
MLPAX is an actively managed fund by Invesco. It was launched on Mar 31, 2010. MLPLX is an actively managed fund by Invesco. It was launched on Feb 6, 2012.
Performance
MLPAX vs. MLPLX - Performance Comparison
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MLPAX vs. MLPLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MLPAX Invesco SteelPath MLP Alpha Fund Class A | 17.20% | 4.31% | 40.77% | 20.43% | 29.07% | 39.45% | -30.58% | 5.60% | -15.05% | -7.22% |
MLPLX Invesco SteelPath MLP Alpha Plus Fund Class A | 24.85% | 4.36% | 47.10% | 25.02% | 38.31% | 55.18% | -46.03% | 8.79% | -21.09% | -11.18% |
Returns By Period
In the year-to-date period, MLPAX achieves a 17.20% return, which is significantly lower than MLPLX's 24.85% return. Over the past 10 years, MLPAX has underperformed MLPLX with an annualized return of 10.84%, while MLPLX has yielded a comparatively higher 12.01% annualized return.
MLPAX
- 1D
- -0.51%
- 1M
- 3.08%
- YTD
- 17.20%
- 6M
- 19.83%
- 1Y
- 14.53%
- 3Y*
- 26.37%
- 5Y*
- 25.99%
- 10Y*
- 10.84%
MLPLX
- 1D
- -0.68%
- 1M
- 4.13%
- YTD
- 24.85%
- 6M
- 28.08%
- 1Y
- 19.00%
- 3Y*
- 32.02%
- 5Y*
- 33.16%
- 10Y*
- 12.01%
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MLPAX vs. MLPLX - Expense Ratio Comparison
MLPAX has a 1.54% expense ratio, which is lower than MLPLX's 17.25% expense ratio.
Return for Risk
MLPAX vs. MLPLX — Risk / Return Rank
MLPAX
MLPLX
MLPAX vs. MLPLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco SteelPath MLP Alpha Fund Class A (MLPAX) and Invesco SteelPath MLP Alpha Plus Fund Class A (MLPLX). 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.
| MLPAX | MLPLX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.87 | 0.86 | +0.01 |
Sortino ratioReturn per unit of downside risk | 1.18 | 1.18 | 0.00 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.18 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 0.93 | 0.96 | -0.03 |
Martin ratioReturn relative to average drawdown | 2.57 | 2.19 | +0.38 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MLPAX | MLPLX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.87 | 0.86 | +0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.34 | 1.32 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.34 | +0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.19 | +0.12 |
Correlation
The correlation between MLPAX and MLPLX is 0.99, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
MLPAX vs. MLPLX - Dividend Comparison
MLPAX's dividend yield for the trailing twelve months is around 5.07%, more than MLPLX's 4.78% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MLPAX Invesco SteelPath MLP Alpha Fund Class A | 5.07% | 5.72% | 5.00% | 5.91% | 6.56% | 7.91% | 14.02% | 9.91% | 10.40% | 8.21% | 7.34% | 7.99% |
MLPLX Invesco SteelPath MLP Alpha Plus Fund Class A | 4.78% | 5.70% | 4.42% | 5.92% | 6.79% | 8.75% | 22.54% | 14.33% | 13.67% | 9.68% | 7.88% | 9.20% |
Drawdowns
MLPAX vs. MLPLX - Drawdown Comparison
The maximum MLPAX drawdown since its inception was -77.51%, smaller than the maximum MLPLX drawdown of -88.76%. Use the drawdown chart below to compare losses from any high point for MLPAX and MLPLX.
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Drawdown Indicators
| MLPAX | MLPLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.51% | -88.76% | +11.25% |
Max Drawdown (1Y)Largest decline over 1 year | -14.80% | -18.61% | +3.81% |
Max Drawdown (5Y)Largest decline over 5 years | -21.04% | -27.21% | +6.17% |
Max Drawdown (10Y)Largest decline over 10 years | -72.85% | -85.02% | +12.17% |
Current DrawdownCurrent decline from peak | -0.61% | -1.09% | +0.48% |
Average DrawdownAverage peak-to-trough decline | -17.21% | -29.30% | +12.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.35% | 8.17% | -2.82% |
Volatility
MLPAX vs. MLPLX - Volatility Comparison
The current volatility for Invesco SteelPath MLP Alpha Fund Class A (MLPAX) is 3.07%, while Invesco SteelPath MLP Alpha Plus Fund Class A (MLPLX) has a volatility of 4.20%. This indicates that MLPAX experiences smaller price fluctuations and is considered to be less risky than MLPLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MLPAX | MLPLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.07% | 4.20% | -1.13% |
Volatility (6M)Calculated over the trailing 6-month period | 7.67% | 11.08% | -3.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.71% | 22.04% | -5.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.56% | 25.38% | -5.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.13% | 35.79% | -9.66% |