MLPB vs. AMUB

Last updated Jun 4, 2026

MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B) and AMUB (ETRACS Alerian MLP Index ETN Class B) are both MLPs funds from UBS - MLPB tracks the Alerian MLP Infrastructure Index while AMUB tracks the Alerian MLP Index. Both are passively managed. Over the past 10 years, MLPB returned 10.20%/yr vs 3.08%/yr for AMUB. Their correlation of 0.88 suggests significant overlap in exposure. MLPB charges 0.85%/yr vs 0.80%/yr for AMUB.

Performance

MLPB vs. AMUB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB) and ETRACS Alerian MLP Index ETN Class B (AMUB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLPB achieves a 19.72% return, which is significantly higher than AMUB's 17.24% return. Over the past 10 years, MLPB has outperformed AMUB with an annualized return of 10.20%, while AMUB has yielded a comparatively lower 3.08% annualized return.

MLPB

• 1D: -0.05%
• 1M: -0.42%
• YTD: 19.72%
• 6M: 18.24%
• 1Y: 20.60%
• 3Y*: 22.21%
• 5Y*: 19.42%
• 10Y*: 10.20%

AMUB

• 1D: 1.02%
• 1M: -1.02%
• YTD: 17.24%
• 6M: 16.74%
• 1Y: 17.83%
• 3Y*: 15.89%
• 5Y*: 12.50%
• 10Y*: 3.08%

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

MLPB vs. AMUB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B	19.72%	7.40%	25.53%	22.01%	30.22%	39.42%	-30.80%	5.69%	-8.79%	-9.71%
AMUB ETRACS Alerian MLP Index ETN Class B	17.24%	2.05%	15.68%	16.89%	21.91%	28.83%	-36.47%	-1.78%	-19.25%	-13.07%

Correlation

The correlation between MLPB and AMUB is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015	0.88

The correlation between MLPB and AMUB has been stable across timeframes, ranging from 0.88 to 0.97 - a consistent structural relationship.

Return for Risk

MLPB vs. AMUB — Risk / Return Rank

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

MLPB

MLPB Risk / Return Rank: 42
MLPB Sharpe Ratio Rank: 43
MLPB Sortino Ratio Rank: 42
MLPB Omega Ratio Rank: 40
MLPB Calmar Ratio Rank: 43
MLPB Martin Ratio Rank: 41

AMUB

AMUB Risk / Return Rank: 35
AMUB Sharpe Ratio Rank: 36
AMUB Sortino Ratio Rank: 35
AMUB Omega Ratio Rank: 34
AMUB Calmar Ratio Rank: 34
AMUB Martin Ratio Rank: 33

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.

MLPB vs. AMUB - 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 ETRACS Alerian MLP Index ETN Class B (AMUB). 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.

	MLPB	AMUB	Difference
Sharpe ratio Return per unit of total volatility	1.54	1.32	+0.22
Sortino ratio Return per unit of downside risk	2.16	1.88	+0.28
Omega ratio Gain probability vs. loss probability	1.26	1.23	+0.04
Calmar ratio Return relative to maximum drawdown	2.14	1.74	+0.40
Martin ratio Return relative to average drawdown	6.60	5.17	+1.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MLPB vs. AMUB - Sharpe Ratio Comparison

The current MLPB Sharpe Ratio is 1.54, which is comparable to the AMUB Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of MLPB and AMUB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MLPB	AMUB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	1.32	+0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.97	0.62	+0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	0.11	+0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.00	+0.23

Drawdowns

MLPB vs. AMUB - Drawdown Comparison

The maximum MLPB drawdown since its inception was -71.93%, smaller than the maximum AMUB drawdown of -79.46%. Use the drawdown chart below to compare losses from any high point for MLPB and AMUB.

Drawdown Indicators

	MLPB	AMUB	Difference
Max Drawdown Largest peak-to-trough decline	-71.93%	-79.46%	+7.53%
Max Drawdown (1Y) Largest decline over 1 year	-9.68%	-10.37%	+0.69%
Max Drawdown (3Y) Largest decline over 3 years	-16.49%	-17.22%	+0.73%
Max Drawdown (5Y) Largest decline over 5 years	-20.41%	-20.58%	+0.17%
Max Drawdown (10Y) Largest decline over 10 years	-71.93%	-78.86%	+6.93%
Current Drawdown Current decline from peak	-4.69%	-5.94%	+1.25%
Average Drawdown Average peak-to-trough decline	-14.83%	-29.23%	+14.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	3.49%	-0.36%

Volatility

MLPB vs. AMUB - Volatility Comparison

ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB) and ETRACS Alerian MLP Index ETN Class B (AMUB) have volatilities of 5.40% and 5.50%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLPB	AMUB	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.40%	5.50%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	10.05%	9.84%	+0.21%
Volatility (1Y) Calculated over the trailing 1-year period	13.51%	13.61%	-0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.03%	20.24%	-0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.11%	27.09%	+1.02%

MLPB vs. AMUB - Expense Ratio Comparison

MLPB has a 0.85% expense ratio, which is higher than AMUB's 0.80% expense ratio.

Dividends

MLPB vs. AMUB - Dividend Comparison

MLPB's dividend yield for the trailing twelve months is around 5.85%, while AMUB has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
AMUB ETRACS Alerian MLP Index ETN Class B	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B	5.85%	6.51%	5.95%	6.37%	6.00%	6.98%	11.93%	7.98%	8.11%	7.23%	6.85%

Frequently Asked Questions

Can I hold both MLPB and AMUB in my portfolio?

With a correlation of 0.93, MLPB and AMUB 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.

Which is riskier, MLPB or AMUB?

AMUB has higher volatility (5.50%) compared to MLPB (5.40%). In terms of maximum drawdown, MLPB dropped -71.93% vs AMUB's -79.46%.

Which ETF is better, MLPB or AMUB?

On 10-year performance, MLPB leads with 10.20% vs 3.08% for AMUB. On fees, AMUB is cheaper at 0.80% per year. On volatility, MLPB has been the lower-risk option at 5.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MLPB or AMUB?

Over the 10-year period, MLPB has performed better with a 10.20% return vs 3.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MLPB or AMUB?

AMUB is cheaper with a 0.80% expense ratio, compared with 0.85% for MLPB.

Which ETF pays a higher dividend yield, MLPB or AMUB?

MLPB has the higher dividend yield at 5.85%, compared with 0.00% for AMUB.

What is the main difference between MLPB and AMUB?

MLPB tracks Alerian MLP Infrastructure Index, while AMUB tracks Alerian MLP Index. Their fees differ too: 0.85% for MLPB and 0.80% for AMUB.

Which has better risk-adjusted returns?

MLPB currently has the higher Sharpe Ratio (1.54 vs 1.32), 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.