MLPB vs. MLPR
MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B) and MLPR (ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN) are both exchange-traded funds - MLPB is a MLPs fund tracking the Alerian MLP Infrastructure Index, while MLPR is a Leveraged Equities fund tracking the Alerian MLP Index (150%). Both are passively managed. Over the past 5 years, MLPB returned 18.03%/yr vs 24.78%/yr for MLPR. With a 0.96 correlation, they move nearly in lockstep. MLPB charges 0.85%/yr vs 0.95%/yr for MLPR.
Performance
MLPB vs. MLPR - Performance Comparison
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Returns By Period
In the year-to-date period, MLPB achieves a 14.66% return, which is significantly lower than MLPR's 21.25% 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%
MLPR
- 1D
- -0.79%
- 1M
- -12.39%
- YTD
- 21.25%
- 6M
- 21.60%
- 1Y
- 23.14%
- 3Y*
- 30.20%
- 5Y*
- 24.78%
- 10Y*
- —
MLPB vs. MLPR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 14.66% | 7.40% | 25.53% | 22.01% | 30.22% | 39.42% | -0.22% |
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN | 21.25% | 9.83% | 31.57% | 35.87% | 41.04% | 57.33% | -7.10% |
Correlation
The correlation between MLPB and MLPR 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 | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2020 | 0.96 |
The correlation between MLPB and MLPR has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
MLPB vs. MLPR — Risk / Return Rank
MLPB
MLPR
MLPB vs. MLPR - 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 Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR). 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 | MLPR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.20 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.60 | 1.66 | -0.06 |
| Martin ratioReturn relative to average drawdown | 4.54 | 4.86 | -0.32 |
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Drawdowns
MLPB vs. MLPR - Drawdown Comparison
The maximum MLPB drawdown since its inception was -71.93%, which is greater than MLPR's maximum drawdown of -48.98%. Use the drawdown chart below to compare losses from any high point for MLPB and MLPR.
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Drawdown Indicators
| MLPB | MLPR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.93% | -48.98% | -22.95% |
Max Drawdown (1Y)Largest decline over 1 year | -9.68% | -13.97% | +4.29% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -24.45% | +7.96% |
Max Drawdown (5Y)Largest decline over 5 years | -20.41% | -28.66% | +8.25% |
Max Drawdown (10Y)Largest decline over 10 years | -71.93% | — | — |
Current DrawdownCurrent decline from peak | -8.72% | -13.19% | +4.47% |
Average DrawdownAverage peak-to-trough decline | -14.78% | -8.94% | -5.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.42% | 4.77% | -1.35% |
Volatility
MLPB vs. MLPR - Volatility Comparison
The current volatility for ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB) is 4.76%, while ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR) has a volatility of 7.59%. This indicates that MLPB experiences smaller price fluctuations and is considered to be less risky than MLPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MLPB | MLPR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.76% | 7.59% | -2.83% |
Volatility (6M)Calculated over the trailing 6-month period | 10.16% | 15.35% | -5.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.59% | 20.95% | -7.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.88% | 29.38% | -9.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.15% | 33.70% | -6.55% |
MLPB vs. MLPR - Expense Ratio Comparison
MLPB has a 0.85% expense ratio, which is lower than MLPR's 0.95% expense ratio.
Dividends
MLPB vs. MLPR - Dividend Comparison
MLPB's dividend yield for the trailing twelve months is around 6.11%, less than MLPR's 9.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN | 9.64% | 10.85% | 9.57% | 10.08% | 7.49% | 10.69% | 4.21% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.96, MLPB and MLPR 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.
MLPR has higher volatility (7.59%) compared to MLPB (4.76%). In terms of maximum drawdown, MLPB dropped -71.93% vs MLPR's -48.98%.
On 5-year performance, MLPR leads with 24.78% vs 18.03% for MLPB. On fees, MLPB is cheaper at 0.85% per year. On volatility, MLPB has been the lower-risk option at 4.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MLPR has performed better with a 24.78% return vs 18.03%. 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 0.95% for MLPR.
MLPR has the higher dividend yield at 9.64%, compared with 6.11% for MLPB.
MLPB is categorized as MLPs, while MLPR is Leveraged Equities. MLPB tracks Alerian MLP Infrastructure Index, while MLPR tracks Alerian MLP Index (150%). Their fees differ too: 0.85% for MLPB and 0.95% for MLPR.
MLPB currently has the higher Sharpe Ratio (1.15 vs 1.11), 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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