MLPB vs. MVRL
MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B) and MVRL (ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN) are both exchange-traded funds - MLPB is a MLPs fund tracking the Alerian MLP Infrastructure Index, while MVRL is a REIT fund tracking the MVIS US Mortgage REITs Index (150%). Both are passively managed. Over the past 5 years, MLPB returned 19.42%/yr vs -8.72%/yr for MVRL. At a 0.47 correlation, their price movements are largely independent. MLPB charges 0.85%/yr vs 0.95%/yr for MVRL.
Performance
MLPB vs. MVRL - Performance Comparison
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Returns By Period
In the year-to-date period, MLPB achieves a 19.72% return, which is significantly higher than MVRL's -5.20% 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%
MVRL
- 1D
- -2.09%
- 1M
- -7.86%
- YTD
- -5.20%
- 6M
- -5.45%
- 1Y
- 11.96%
- 3Y*
- 7.15%
- 5Y*
- -8.72%
- 10Y*
- —
MLPB vs. MVRL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 19.72% | 7.40% | 25.53% | 22.01% | 30.22% | 39.42% | -3.79% |
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN | -5.20% | 14.96% | -3.45% | 12.30% | -42.41% | 21.71% | 57.90% |
Correlation
The correlation between MLPB and MVRL is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.33 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020 | 0.47 |
Over the past year, the correlation between MLPB and MVRL has dropped to 0.10 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.
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Return for Risk
MLPB vs. MVRL — Risk / Return Rank
MLPB
MVRL
MLPB vs. MVRL - 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 Monthly Pay 1.5x Leveraged Mortgage REIT ETN (MVRL). 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 | MVRL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.10 | ||
| Sortino ratioReturn per unit of downside risk | +1.37 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.10 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 2.14 | 0.57 | +1.56 |
| Martin ratioReturn relative to average drawdown | 6.60 | 1.60 | +5.00 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MLPB | MVRL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.54 | 0.44 | +1.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.97 | -0.24 | +1.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.37 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.12 | +0.11 |
Drawdowns
MLPB vs. MVRL - Drawdown Comparison
The maximum MLPB drawdown since its inception was -71.93%, which is greater than MVRL's maximum drawdown of -60.25%. Use the drawdown chart below to compare losses from any high point for MLPB and MVRL.
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Drawdown Indicators
| MLPB | MVRL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.93% | -60.25% | -11.68% |
Max Drawdown (1Y)Largest decline over 1 year | -9.68% | -20.93% | +11.25% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -32.20% | +15.71% |
Max Drawdown (5Y)Largest decline over 5 years | -20.41% | -60.25% | +39.84% |
Max Drawdown (10Y)Largest decline over 10 years | -71.93% | — | — |
Current DrawdownCurrent decline from peak | -4.69% | -39.93% | +35.24% |
Average DrawdownAverage peak-to-trough decline | -14.83% | -31.81% | +16.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.13% | 7.51% | -4.38% |
Volatility
MLPB vs. MVRL - Volatility Comparison
The current volatility for ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB) is 5.40%, while ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN (MVRL) has a volatility of 5.87%. This indicates that MLPB experiences smaller price fluctuations and is considered to be less risky than MVRL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MLPB | MVRL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.40% | 5.87% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 10.05% | 20.18% | -10.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.51% | 27.30% | -13.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.03% | 36.55% | -16.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.11% | 37.63% | -9.52% |
MLPB vs. MVRL - Expense Ratio Comparison
MLPB has a 0.85% expense ratio, which is lower than MVRL's 0.95% expense ratio.
Dividends
MLPB vs. MVRL - Dividend Comparison
MLPB's dividend yield for the trailing twelve months is around 5.85%, less than MVRL's 21.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
MVRL ETRACS Monthly Pay 1.5x Leveraged Mortgage REIT ETN | 21.21% | 19.15% | 19.27% | 18.69% | 25.21% | 12.33% | 5.63% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MLPB and MVRL have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MVRL has higher volatility (5.87%) compared to MLPB (5.40%). In terms of maximum drawdown, MLPB dropped -71.93% vs MVRL's -60.25%.
On 5-year performance, MLPB leads with 19.42% vs -8.72% for MVRL. On fees, MLPB is cheaper at 0.85% per year. On volatility, MLPB has been the lower-risk option at 5.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MLPB has performed better with a 19.42% return vs -8.72%. 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 MVRL.
MVRL has the higher dividend yield at 21.21%, compared with 5.85% for MLPB.
MLPB is categorized as MLPs, while MVRL is REIT. MLPB tracks Alerian MLP Infrastructure Index, while MVRL tracks MVIS US Mortgage REITs Index (150%). Their fees differ too: 0.85% for MLPB and 0.95% for MVRL.
MLPB currently has the higher Sharpe Ratio (1.54 vs 0.44), 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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