MLPB vs. BSMY
MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B) and BSMY (Invesco BulletShares 2034 Municipal Bond ETF) are both exchange-traded funds - MLPB is a MLPs fund tracking the Alerian MLP Infrastructure Index, while BSMY is a Municipal Bonds fund tracking the Invesco BulletShares USD Municipal Bond 2034 Index. Both are passively managed. Over the past year, MLPB returned 24.66% vs 7.58% for BSMY. At a correlation of -0.03, they often move in opposite directions. MLPB charges 0.85%/yr vs 0.18%/yr for BSMY.
Performance
MLPB vs. BSMY - Performance Comparison
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Returns By Period
In the year-to-date period, MLPB achieves a 23.17% return, which is significantly higher than BSMY's 1.30% return.
MLPB
- 1D
- 1.47%
- 1M
- 6.90%
- 6M
- 16.96%
- YTD
- 23.17%
- 1Y
- 24.66%
- 3Y*
- 22.00%
- 5Y*
- 21.74%
- 10Y*
- 8.59%
BSMY
- 1D
- -0.22%
- 1M
- -0.25%
- 6M
- 0.44%
- YTD
- 1.30%
- 1Y
- 7.58%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MLPB vs. BSMY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 23.17% | 7.40% | 6.54% |
BSMY Invesco BulletShares 2034 Municipal Bond ETF | 1.30% | 3.82% | -1.86% |
Correlation
The correlation between MLPB and BSMY is -0.23, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.23 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2024 | -0.03 |
Over the past year, the inverse relationship between MLPB and BSMY has strengthened: their correlation has moved from -0.03 to -0.23, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
MLPB vs. BSMY — Risk / Return Rank
MLPB
BSMY
MLPB vs. BSMY - 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 Invesco BulletShares 2034 Municipal Bond ETF (BSMY). 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 | BSMY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.45 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.56 | 2.30 | +0.26 |
| Martin ratioReturn relative to average drawdown | 6.65 | 7.98 | -1.33 |
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Drawdowns
MLPB vs. BSMY - Drawdown Comparison
The maximum MLPB drawdown since its inception was -71.93%, which is greater than BSMY's maximum drawdown of -6.81%. Use the drawdown chart below to compare losses from any high point for MLPB and BSMY.
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Drawdown Indicators
| MLPB | BSMY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.93% | -6.81% | -65.12% |
Max Drawdown (1Y)Largest decline over 1 year | -9.68% | -3.31% | -6.37% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -20.41% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -71.93% | — | — |
Current DrawdownCurrent decline from peak | -1.95% | -0.95% | -1.00% |
Average DrawdownAverage peak-to-trough decline | -14.72% | -1.88% | -12.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.72% | 0.95% | +2.77% |
Volatility
MLPB vs. BSMY - Volatility Comparison
ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB) has a higher volatility of 5.60% compared to Invesco BulletShares 2034 Municipal Bond ETF (BSMY) at 0.93%. This indicates that MLPB's price experiences larger fluctuations and is considered to be riskier than BSMY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MLPB | BSMY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.60% | 0.93% | +4.67% |
Volatility (6M)Calculated over the trailing 6-month period | 10.97% | 2.72% | +8.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.27% | 3.48% | +10.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.85% | 5.12% | +14.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.19% | 5.12% | +22.07% |
MLPB vs. BSMY - Expense Ratio Comparison
MLPB has a 0.85% expense ratio, which is higher than BSMY's 0.18% expense ratio.
Dividends
MLPB vs. BSMY - Dividend Comparison
MLPB's dividend yield for the trailing twelve months is around 5.86%, more than BSMY's 3.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
BSMY Invesco BulletShares 2034 Municipal Bond ETF | 3.50% | 3.31% | 0.79% | 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 | 5.86% | 6.51% | 5.95% | 6.37% | 6.00% | 6.98% | 11.93% | 7.98% | 8.11% | 7.23% | 6.85% |
Frequently Asked Questions
MLPB and BSMY have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MLPB has higher volatility (5.60%) compared to BSMY (0.93%). In terms of maximum drawdown, MLPB dropped -71.93% vs BSMY's -6.81%.
On 1-year performance, MLPB leads with 24.66% vs 7.58% for BSMY. On fees, BSMY is cheaper at 0.18% per year. On volatility, BSMY has been the lower-risk option at 0.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, MLPB has performed better with a 24.66% return vs 7.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BSMY is cheaper with a 0.18% expense ratio, compared with 0.85% for MLPB.
MLPB has the higher dividend yield at 5.86%, compared with 3.50% for BSMY.
MLPB is categorized as MLPs, while BSMY is Municipal Bonds. MLPB tracks Alerian MLP Infrastructure Index, while BSMY tracks Invesco BulletShares USD Municipal Bond 2034 Index. They also come from different issuers: UBS and Invesco. Their fees differ too: 0.85% for MLPB and 0.18% for BSMY.
BSMY currently has the higher Sharpe Ratio (2.19 vs 1.74), 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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