MLPB vs. AMLP
MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B) and AMLP (Alerian MLP ETF) are both MLPs funds tracking the Alerian MLP Infrastructure Index, from UBS and SS&C respectively. Both are passively managed. Over the past 10 years, MLPB returned 7.81%/yr vs 6.33%/yr for AMLP. A 0.78 correlation means they provide meaningful diversification when combined. MLPB charges 0.85%/yr vs 0.90%/yr for AMLP.
Performance
MLPB vs. AMLP - Performance Comparison
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Returns By Period
In the year-to-date period, MLPB achieves a 14.66% return, which is significantly higher than AMLP's 12.04% return. Over the past 10 years, MLPB has outperformed AMLP with an annualized return of 7.81%, while AMLP has yielded a comparatively lower 6.33% annualized return.
MLPB
- 1D
- -0.18%
- 1M
- -8.01%
- YTD
- 14.66%
- 6M
- 15.05%
- 1Y
- 15.47%
- 3Y*
- 21.12%
- 5Y*
- 18.03%
- 10Y*
- 7.81%
AMLP
- 1D
- -0.02%
- 1M
- -7.08%
- YTD
- 12.04%
- 6M
- 12.19%
- 1Y
- 12.67%
- 3Y*
- 19.33%
- 5Y*
- 15.63%
- 10Y*
- 6.33%
MLPB vs. AMLP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 14.66% | 7.40% | 25.53% | 22.01% | 30.22% | 39.42% | -30.80% | 5.69% | -8.79% | -9.71% |
AMLP Alerian MLP ETF | 12.04% | 5.78% | 22.76% | 21.40% | 25.47% | 39.09% | -32.26% | 5.99% | -12.67% | -7.89% |
Correlation
The correlation between MLPB and AMLP is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2015 | 0.78 |
The correlation between MLPB and AMLP shifts across timeframes, from 0.78 (all time) to 0.98 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MLPB vs. AMLP — Risk / Return Rank
MLPB
AMLP
MLPB vs. AMLP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB) and Alerian MLP ETF (AMLP). 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.
| MLPB | AMLP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.19 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 1.42 | +0.18 |
| Martin ratioReturn relative to average drawdown | 4.54 | 4.32 | +0.22 |
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Drawdowns
MLPB vs. AMLP - Drawdown Comparison
The maximum MLPB drawdown since its inception was -71.93%, smaller than the maximum AMLP drawdown of -77.19%. Use the drawdown chart below to compare losses from any high point for MLPB and AMLP.
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Drawdown Indicators
| MLPB | AMLP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.93% | -77.19% | +5.26% |
Max Drawdown (1Y)Largest decline over 1 year | -9.68% | -8.94% | -0.74% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -14.27% | -2.22% |
Max Drawdown (5Y)Largest decline over 5 years | -20.41% | -20.92% | +0.51% |
Max Drawdown (10Y)Largest decline over 10 years | -71.93% | -72.62% | +0.69% |
Current DrawdownCurrent decline from peak | -8.72% | -7.62% | -1.10% |
Average DrawdownAverage peak-to-trough decline | -14.78% | -17.36% | +2.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.42% | 2.94% | +0.48% |
Volatility
MLPB vs. AMLP - Volatility Comparison
ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB) has a higher volatility of 4.76% compared to Alerian MLP ETF (AMLP) at 4.48%. This indicates that MLPB's price experiences larger fluctuations and is considered to be riskier than AMLP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MLPB | AMLP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.76% | 4.48% | +0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 10.16% | 8.85% | +1.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.59% | 11.98% | +1.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.88% | 19.75% | +0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.15% | 27.68% | -0.53% |
MLPB vs. AMLP - Expense Ratio Comparison
MLPB has a 0.85% expense ratio, which is lower than AMLP's 0.90% expense ratio.
Dividends
MLPB vs. AMLP - Dividend Comparison
MLPB's dividend yield for the trailing twelve months is around 6.11%, less than AMLP's 7.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AMLP Alerian MLP ETF | 7.94% | 8.36% | 7.70% | 7.86% | 7.70% | 8.55% | 12.31% | 9.12% | 9.29% | 7.97% | 8.09% | 9.84% |
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 6.11% | 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
With a correlation of 0.96, MLPB and AMLP 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.
MLPB has higher volatility (4.76%) compared to AMLP (4.48%). In terms of maximum drawdown, MLPB dropped -71.93% vs AMLP's -77.19%.
On 10-year performance, MLPB leads with 7.81% vs 6.33% for AMLP. On fees, MLPB is cheaper at 0.85% per year. On volatility, AMLP has been the lower-risk option at 4.48%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, MLPB has performed better with a 7.81% return vs 6.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MLPB is cheaper with a 0.85% expense ratio, compared with 0.90% for AMLP.
AMLP has the higher dividend yield at 7.94%, compared with 6.11% for MLPB.
Both ETFs track Alerian MLP Infrastructure Index. They also come from different issuers: UBS and SS&C. Their fees differ too: 0.85% for MLPB and 0.90% for AMLP.
MLPB currently has the higher Sharpe Ratio (1.15 vs 1.06), 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.
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