MLPB vs. FTSD

Last updated Jun 4, 2026

MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B) and FTSD (Franklin Short Duration U.S. Government ETF) are both exchange-traded funds - MLPB is a MLPs fund tracking the Alerian MLP Infrastructure Index, while FTSD is a Mortgage Backed Securities fund actively managed by Franklin Templeton. MLPB is passively managed, while FTSD is actively managed. Over the past 10 years, MLPB returned 10.20%/yr vs 2.05%/yr for FTSD. At a correlation of -0.05, they often move in opposite directions. MLPB charges 0.85%/yr vs 0.25%/yr for FTSD.

Performance

MLPB vs. FTSD - 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 Franklin Short Duration U.S. Government ETF (FTSD). 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 FTSD's 0.80% return. Over the past 10 years, MLPB has outperformed FTSD with an annualized return of 10.20%, while FTSD has yielded a comparatively lower 2.05% 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%

FTSD

• 1D: -0.12%
• 1M: 0.17%
• YTD: 0.80%
• 6M: 1.30%
• 1Y: 4.31%
• 3Y*: 4.98%
• 5Y*: 2.46%
• 10Y*: 2.05%

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

MLPB vs. FTSD - 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%
FTSD Franklin Short Duration U.S. Government ETF	0.80%	5.66%	5.20%	4.84%	-3.13%	-0.90%	3.13%	2.40%	1.64%	0.63%

Correlation

The correlation between MLPB and FTSD is -0.21, 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	-0.21
Correlation (3Y) Calculated over the trailing 3-year period	-0.07
Correlation (5Y) Calculated over the trailing 5-year period	-0.04
Correlation (10Y) Calculated over the trailing 10-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Oct 12, 2015	-0.05

The correlation between MLPB and FTSD shifts across timeframes, from -0.21 (1 year) to -0.04 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

MLPB vs. FTSD — 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

FTSD

FTSD Risk / Return Rank: 95
FTSD Sharpe Ratio Rank: 92
FTSD Sortino Ratio Rank: 95
FTSD Omega Ratio Rank: 94
FTSD Calmar Ratio Rank: 96
FTSD Martin Ratio Rank: 96

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. FTSD - 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 Franklin Short Duration U.S. Government ETF (FTSD). 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	FTSD	Difference
Sharpe ratio Return per unit of total volatility	1.54	3.30	-1.76
Sortino ratio Return per unit of downside risk	2.16	5.27	-3.12
Omega ratio Gain probability vs. loss probability	1.26	1.69	-0.42
Calmar ratio Return relative to maximum drawdown	2.14	9.59	-7.46
Martin ratio Return relative to average drawdown	6.60	38.36	-31.77
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. FTSD - Sharpe Ratio Comparison

The current MLPB Sharpe Ratio is 1.54, which is lower than the FTSD Sharpe Ratio of 3.30. The chart below compares the historical Sharpe Ratios of MLPB and FTSD, 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	FTSD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	3.30	-1.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.97	1.33	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	1.15	-0.78
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	1.04	-0.81

Drawdowns

MLPB vs. FTSD - Drawdown Comparison

The maximum MLPB drawdown since its inception was -71.93%, which is greater than FTSD's maximum drawdown of -5.32%. Use the drawdown chart below to compare losses from any high point for MLPB and FTSD.

Drawdown Indicators

	MLPB	FTSD	Difference
Max Drawdown Largest peak-to-trough decline	-71.93%	-5.32%	-66.61%
Max Drawdown (1Y) Largest decline over 1 year	-9.68%	-0.45%	-9.23%
Max Drawdown (3Y) Largest decline over 3 years	-16.49%	-0.93%	-15.56%
Max Drawdown (5Y) Largest decline over 5 years	-20.41%	-5.04%	-15.37%
Max Drawdown (10Y) Largest decline over 10 years	-71.93%	-5.32%	-66.61%
Current Drawdown Current decline from peak	-4.69%	-0.12%	-4.57%
Average Drawdown Average peak-to-trough decline	-14.83%	-0.60%	-14.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	0.11%	+3.02%

Volatility

MLPB vs. FTSD - Volatility Comparison

ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB) has a higher volatility of 5.40% compared to Franklin Short Duration U.S. Government ETF (FTSD) at 0.51%. This indicates that MLPB's price experiences larger fluctuations and is considered to be riskier than FTSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLPB	FTSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.40%	0.51%	+4.89%
Volatility (6M) Calculated over the trailing 6-month period	10.05%	1.03%	+9.02%
Volatility (1Y) Calculated over the trailing 1-year period	13.51%	1.31%	+12.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.03%	1.85%	+18.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.11%	1.79%	+26.32%

MLPB vs. FTSD - Expense Ratio Comparison

MLPB has a 0.85% expense ratio, which is higher than FTSD's 0.25% expense ratio.

Dividends

MLPB vs. FTSD - Dividend Comparison

MLPB's dividend yield for the trailing twelve months is around 5.85%, more than FTSD's 4.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTSD Franklin Short Duration U.S. Government ETF	4.50%	4.67%	4.75%	4.14%	1.73%	1.01%	1.54%	2.90%	2.63%	2.24%	1.92%	1.52%
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%	0.00%

Frequently Asked Questions

Can I hold both MLPB and FTSD in my portfolio?

MLPB and FTSD have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MLPB or FTSD?

MLPB has higher volatility (5.40%) compared to FTSD (0.51%). In terms of maximum drawdown, MLPB dropped -71.93% vs FTSD's -5.32%.

Which ETF is better, MLPB or FTSD?

On 10-year performance, MLPB leads with 10.20% vs 2.05% for FTSD. On fees, FTSD is cheaper at 0.25% per year. On volatility, FTSD has been the lower-risk option at 0.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MLPB or FTSD?

Over the 10-year period, MLPB has performed better with a 10.20% return vs 2.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MLPB or FTSD?

FTSD is cheaper with a 0.25% expense ratio, compared with 0.85% for MLPB.

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

MLPB has the higher dividend yield at 5.85%, compared with 4.50% for FTSD.

What is the main difference between MLPB and FTSD?

MLPB is categorized as MLPs, while FTSD is Mortgage Backed Securities. They also come from different issuers: UBS and Franklin Templeton. Their fees differ too: 0.85% for MLPB and 0.25% for FTSD.

Which has better risk-adjusted returns?

FTSD currently has the higher Sharpe Ratio (3.30 vs 1.54), 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.