MLPB vs. GLDI
MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B) and GLDI (UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033) are both exchange-traded funds - MLPB is a MLPs fund tracking the Alerian MLP Infrastructure Index, while GLDI is a Gold fund tracking the Credit Suisse NASDAQ Gold FLOWS 103 Index. Both are passively managed. Over the past 10 years, MLPB returned 8.03%/yr vs 7.83%/yr for GLDI. At a 0.09 correlation, their price movements are largely independent. MLPB charges 0.85%/yr vs 0.65%/yr for GLDI.
Performance
MLPB vs. GLDI - Performance Comparison
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Returns By Period
In the year-to-date period, MLPB achieves a 17.00% return, which is significantly higher than GLDI's -4.45% return. Both investments have delivered pretty close results over the past 10 years, with MLPB having a 8.03% annualized return and GLDI not far behind at 7.83%.
MLPB
- 1D
- 2.04%
- 1M
- -6.13%
- YTD
- 17.00%
- 6M
- 16.53%
- 1Y
- 18.65%
- 3Y*
- 21.94%
- 5Y*
- 18.51%
- 10Y*
- 8.03%
GLDI
- 1D
- -1.62%
- 1M
- -7.19%
- YTD
- -4.45%
- 6M
- -5.42%
- 1Y
- 11.67%
- 3Y*
- 17.47%
- 5Y*
- 10.96%
- 10Y*
- 7.83%
MLPB vs. GLDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 17.00% | 7.40% | 25.53% | 22.01% | 30.22% | 39.42% | -30.80% | 5.69% | -8.79% | -9.71% |
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 | -4.45% | 34.25% | 17.76% | 8.93% | -1.11% | -3.42% | 23.50% | 14.40% | -0.54% | 8.94% |
Correlation
The correlation between MLPB and GLDI is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2015 | 0.09 |
The correlation between MLPB and GLDI shifts across timeframes, from -0.08 (1 year) to 0.14 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MLPB vs. GLDI — Risk / Return Rank
MLPB
GLDI
MLPB vs. GLDI - 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 UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI). 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 | GLDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.64 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.16 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.93 | 0.83 | +1.11 |
| Martin ratioReturn relative to average drawdown | 5.43 | 2.73 | +2.71 |
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Drawdowns
MLPB vs. GLDI - Drawdown Comparison
The maximum MLPB drawdown since its inception was -71.93%, which is greater than GLDI's maximum drawdown of -32.26%. Use the drawdown chart below to compare losses from any high point for MLPB and GLDI.
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Drawdown Indicators
| MLPB | GLDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.93% | -32.26% | -39.67% |
Max Drawdown (1Y)Largest decline over 1 year | -9.68% | -14.14% | +4.46% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -14.14% | -2.35% |
Max Drawdown (5Y)Largest decline over 5 years | -20.41% | -14.14% | -6.27% |
Max Drawdown (10Y)Largest decline over 10 years | -71.93% | -14.94% | -56.99% |
Current DrawdownCurrent decline from peak | -6.86% | -13.28% | +6.42% |
Average DrawdownAverage peak-to-trough decline | -14.78% | -13.99% | -0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.44% | 4.30% | -0.86% |
Volatility
MLPB vs. GLDI - Volatility Comparison
The current volatility for ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB) is 5.33%, while UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 (GLDI) has a volatility of 7.18%. This indicates that MLPB experiences smaller price fluctuations and is considered to be less risky than GLDI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MLPB | GLDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.33% | 7.18% | -1.85% |
Volatility (6M)Calculated over the trailing 6-month period | 10.30% | 14.58% | -4.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.70% | 15.99% | -2.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.90% | 11.58% | +8.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.16% | 11.52% | +15.64% |
MLPB vs. GLDI - Expense Ratio Comparison
MLPB has a 0.85% expense ratio, which is higher than GLDI's 0.65% expense ratio.
Dividends
MLPB vs. GLDI - Dividend Comparison
MLPB's dividend yield for the trailing twelve months is around 5.99%, less than GLDI's 26.67% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLDI UBS AG ETRACS Gold Shares Covered Call ETNs due February 2, 2033 | 26.67% | 16.15% | 10.45% | 10.02% | 13.73% | 10.65% | 14.25% | 7.25% | 5.33% | 7.77% | 17.26% | 10.07% |
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 5.99% | 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
MLPB and GLDI have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GLDI has higher volatility (7.18%) compared to MLPB (5.33%). In terms of maximum drawdown, MLPB dropped -71.93% vs GLDI's -32.26%.
On 10-year performance, MLPB leads with 8.03% vs 7.83% for GLDI. On fees, GLDI is cheaper at 0.65% per year. On volatility, MLPB has been the lower-risk option at 5.33%. 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 8.03% return vs 7.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GLDI is cheaper with a 0.65% expense ratio, compared with 0.85% for MLPB.
GLDI has the higher dividend yield at 26.67%, compared with 5.99% for MLPB.
MLPB is categorized as MLPs, while GLDI is Gold. MLPB tracks Alerian MLP Infrastructure Index, while GLDI tracks Credit Suisse NASDAQ Gold FLOWS 103 Index. Their fees differ too: 0.85% for MLPB and 0.65% for GLDI.
MLPB currently has the higher Sharpe Ratio (1.37 vs 0.73), 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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