MLPB vs. PFFL
MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B) and PFFL (ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN) are both exchange-traded funds - MLPB is a MLPs fund tracking the Alerian MLP Infrastructure Index, while PFFL is a Preferred Stock/Convertible Bonds fund tracking the Solactive Preferred Stock ETF Index. Both are passively managed. Over the past 5 years, MLPB returned 21.74%/yr vs -6.81%/yr for PFFL. At a 0.28 correlation, their price movements are largely independent. Both charge a 0.85% expense ratio.
Performance
MLPB vs. PFFL - Performance Comparison
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Returns By Period
In the year-to-date period, MLPB achieves a 23.17% return, which is significantly higher than PFFL's -3.27% return.
MLPB
- 1D
- 1.47%
- 1M
- 6.90%
- 6M
- 16.96%
- YTD
- 23.17%
- 1Y
- 24.66%
- 3Y*
- 22.00%
- 5Y*
- 21.74%
- 10Y*
- 8.59%
PFFL
- 1D
- -1.16%
- 1M
- -3.46%
- 6M
- -7.41%
- YTD
- -3.27%
- 1Y
- -0.36%
- 3Y*
- 3.48%
- 5Y*
- -6.81%
- 10Y*
- —
MLPB vs. PFFL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 23.17% | 7.40% | 25.53% | 22.01% | 30.22% | 39.42% | -30.80% | 5.69% | -15.68% |
PFFL ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN | -3.27% | 2.18% | 4.77% | 8.65% | -39.15% | 7.52% | -15.47% | 30.21% | -10.77% |
Correlation
The correlation between MLPB and PFFL is -0.01, 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 | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Sep 26, 2018 | 0.28 |
The correlation between MLPB and PFFL shifts across timeframes, from -0.01 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MLPB vs. PFFL — Risk / Return Rank
MLPB
PFFL
MLPB vs. PFFL - 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 2xLeveraged Preferred Stock ETN (PFFL). 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 | PFFL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.76 | ||
| Sortino ratioReturn per unit of downside risk | +2.34 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.01 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 2.56 | -0.03 | +2.59 |
| Martin ratioReturn relative to average drawdown | 6.65 | -0.06 | +6.72 |
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Drawdowns
MLPB vs. PFFL - Drawdown Comparison
The maximum MLPB drawdown since its inception was -71.93%, smaller than the maximum PFFL drawdown of -80.68%. Use the drawdown chart below to compare losses from any high point for MLPB and PFFL.
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Drawdown Indicators
| MLPB | PFFL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -71.93% | -80.68% | +8.75% |
Max Drawdown (1Y)Largest decline over 1 year | -9.68% | -11.92% | +2.24% |
Max Drawdown (3Y)Largest decline over 3 years | -16.49% | -23.75% | +7.26% |
Max Drawdown (5Y)Largest decline over 5 years | -20.41% | -48.51% | +28.10% |
Max Drawdown (10Y)Largest decline over 10 years | -71.93% | — | — |
Current DrawdownCurrent decline from peak | -1.95% | -40.41% | +38.46% |
Average DrawdownAverage peak-to-trough decline | -14.72% | -28.68% | +13.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.72% | 5.63% | -1.91% |
Volatility
MLPB vs. PFFL - Volatility Comparison
ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB) has a higher volatility of 5.60% compared to ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN (PFFL) at 4.10%. This indicates that MLPB's price experiences larger fluctuations and is considered to be riskier than PFFL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MLPB | PFFL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.60% | 4.10% | +1.50% |
Volatility (6M)Calculated over the trailing 6-month period | 10.97% | 11.00% | -0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.27% | 16.37% | -2.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.85% | 23.70% | -3.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.19% | 54.95% | -27.76% |
MLPB vs. PFFL - Expense Ratio Comparison
Both MLPB and PFFL have an expense ratio of 0.85%.
Dividends
MLPB vs. PFFL - Dividend Comparison
MLPB's dividend yield for the trailing twelve months is around 5.86%, less than PFFL's 12.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
MLPB ETRACS Alerian MLP Infrastructure Index ETN Series B | 5.86% | 6.51% | 5.95% | 6.37% | 6.00% | 6.98% | 11.93% | 7.98% | 8.11% | 7.23% | 6.85% |
PFFL ETRACS Monthly Pay 2xLeveraged Preferred Stock ETN | 12.72% | 13.27% | 13.76% | 13.71% | 13.90% | 8.82% | 9.75% | 11.21% | 2.02% | 0.00% | 0.00% |
Frequently Asked Questions
MLPB and PFFL have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MLPB has higher volatility (5.60%) compared to PFFL (4.10%). In terms of maximum drawdown, MLPB dropped -71.93% vs PFFL's -80.68%.
On 5-year performance, MLPB leads with 21.74% vs -6.81% for PFFL. Both ETFs have the same 0.85% expense ratio. On volatility, PFFL has been the lower-risk option at 4.10%. 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 21.74% return vs -6.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MLPB and PFFL have the same expense ratio: 0.85% per year.
PFFL has the higher dividend yield at 12.72%, compared with 5.86% for MLPB.
MLPB is categorized as MLPs, while PFFL is Preferred Stock/Convertible Bonds. MLPB tracks Alerian MLP Infrastructure Index, while PFFL tracks Solactive Preferred Stock ETF Index.
MLPB currently has the higher Sharpe Ratio (1.74 vs -0.02), 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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