MLPB vs. MPLX

Last updated Jun 23, 2026

MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B) is MLPs fund tracking the Alerian MLP Infrastructure Index, while MPLX (MPLX LP) is a stock. Over the past 10 years, MLPB returned 7.81%/yr vs 15.62%/yr for MPLX. A 0.59 correlation means they provide meaningful diversification when combined.

Performance

MLPB vs. MPLX - 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 MPLX LP (MPLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLPB achieves a 14.66% return, which is significantly higher than MPLX's 10.82% return. Over the past 10 years, MLPB has underperformed MPLX with an annualized return of 7.81%, while MPLX has yielded a comparatively higher 15.62% annualized 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%

MPLX

• 1D: 0.11%
• 1M: 0.76%
• YTD: 10.82%
• 6M: 10.02%
• 1Y: 19.80%
• 3Y*: 29.87%
• 5Y*: 24.60%
• 10Y*: 15.62%

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

MLPB vs. MPLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B	14.66%	7.40%	25.53%	22.01%	30.22%	39.42%	-30.80%	5.69%	-8.79%	-9.71%
MPLX MPLX LP	10.82%	20.54%	41.72%	22.46%	21.09%	53.92%	-1.79%	-8.25%	-8.43%	9.00%

Correlation

The correlation between MLPB and MPLX is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (10Y) Calculated over the trailing 10-year period	0.64
Correlation (All Time) Calculated using the full available price history since Oct 9, 2015	0.59

The correlation between MLPB and MPLX shifts across timeframes, from 0.59 (all time) to 0.77 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

MLPB vs. MPLX — Risk / Return Rank

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

MLPB

MLPB Risk / Return Rank: 32
MLPB Sharpe Ratio Rank: 33
MLPB Sortino Ratio Rank: 32
MLPB Omega Ratio Rank: 30
MLPB Calmar Ratio Rank: 33
MLPB Martin Ratio Rank: 32

MPLX

MPLX Risk / Return Rank: 76
MPLX Sharpe Ratio Rank: 78
MPLX Sortino Ratio Rank: 72
MPLX Omega Ratio Rank: 70
MPLX Calmar Ratio Rank: 81
MPLX Martin Ratio Rank: 80

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. MPLX - 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 MPLX LP (MPLX). 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	MPLX	Difference
Sharpe ratio: Return per unit of total volatility	1.15	1.26	-0.12
Sortino ratio: Return per unit of downside risk	1.65	1.78	-0.13
Omega ratio: Gain probability vs. loss probability	1.20	1.22	-0.02
Calmar ratio: Return relative to maximum drawdown	1.60	2.58	-0.98
Martin ratio: Return relative to average drawdown	4.54	5.97	-1.43

MLPB vs. MPLX - Sharpe Ratio Comparison

The current MLPB Sharpe Ratio is 1.15, which is comparable to the MPLX Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of MLPB and MPLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MLPB vs. MPLX - Drawdown Comparison

The maximum MLPB drawdown since its inception was -71.93%, smaller than the maximum MPLX drawdown of -85.72%. Use the drawdown chart below to compare losses from any high point for MLPB and MPLX.

Drawdown Indicators

	MLPB	MPLX	Difference
Max Drawdown Largest peak-to-trough decline	-71.93%	-85.72%	+13.79%
Max Drawdown (1Y) Largest decline over 1 year	-9.68%	-7.71%	-1.97%
Max Drawdown (3Y) Largest decline over 3 years	-16.49%	-14.58%	-1.91%
Max Drawdown (5Y) Largest decline over 5 years	-20.41%	-18.46%	-1.95%
Max Drawdown (10Y) Largest decline over 10 years	-71.93%	-75.21%	+3.28%
Current Drawdown Current decline from peak	-8.72%	-1.96%	-6.76%
Average Drawdown Average peak-to-trough decline	-14.78%	-29.90%	+15.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.42%	3.32%	+0.10%

Volatility

MLPB vs. MPLX - Volatility Comparison

ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB) and MPLX LP (MPLX) have volatilities of 4.76% and 4.70%, 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	MPLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.76%	4.70%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	10.16%	11.49%	-1.33%
Volatility (1Y) Calculated over the trailing 1-year period	13.59%	15.80%	-2.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.88%	19.34%	+0.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.15%	30.63%	-3.48%

Dividends

MLPB vs. MPLX - Dividend Comparison

MLPB's dividend yield for the trailing twelve months is around 6.11%, less than MPLX's 7.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
MPLX MPLX LP	7.36%	7.39%	7.33%	8.65%	8.80%	11.30%	12.70%	10.41%	8.22%	6.23%	5.86%	4.33%

Frequently Asked Questions

Can I hold both MLPB and MPLX in my portfolio?

MLPB and MPLX have a correlation of 0.60, 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 MPLX?

MLPB has higher volatility (4.76%) compared to MPLX (4.70%). In terms of maximum drawdown, MLPB dropped -71.93% vs MPLX's -85.72%.

Which has better risk-adjusted returns?

MPLX currently has the higher Sharpe Ratio (1.26 vs 1.15), 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.