PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
MLPB vs. SPHD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MLPB vs. SPHD

Last updated Jun 4, 2026

MLPB (ETRACS Alerian MLP Infrastructure Index ETN Series B) and SPHD (Invesco S&P 500® High Dividend Low Volatility ETF) are both exchange-traded funds - MLPB is a MLPs fund tracking the Alerian MLP Infrastructure Index, while SPHD is a S&P 500 fund tracking the S&P Low Volatility High Dividend index. Both are passively managed. Over the past 10 years, MLPB returned 10.20%/yr vs 7.08%/yr for SPHD. At a 0.44 correlation, their price movements are largely independent. MLPB charges 0.85%/yr vs 0.30%/yr for SPHD.

Performance

MLPB vs. SPHD - 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 Invesco S&P 500® High Dividend Low Volatility ETF (SPHD). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, MLPB achieves a 19.72% return, which is significantly higher than SPHD's 4.38% return. Over the past 10 years, MLPB has outperformed SPHD with an annualized return of 10.20%, while SPHD has yielded a comparatively lower 7.08% annualized 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%

SPHD

1D
-0.89%
1M
-0.82%
YTD
4.38%
6M
4.63%
1Y
8.12%
3Y*
11.42%
5Y*
5.48%
10Y*
7.08%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MLPB vs. SPHD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MLPB
ETRACS Alerian MLP Infrastructure Index ETN Series B		19.72%7.40%25.53%22.01%30.22%39.42%-30.80%5.69%-8.79%-9.71%
SPHD
Invesco S&P 500® High Dividend Low Volatility ETF		4.38%3.41%18.08%1.32%0.58%24.98%-9.98%20.26%-6.17%11.90%

Correlation

The correlation between MLPB and SPHD is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.36

Correlation (3Y)
Calculated over the trailing 3-year period

0.46

Correlation (5Y)
Calculated over the trailing 5-year period

0.53

Correlation (10Y)
Calculated over the trailing 10-year period

0.47

Correlation (All Time)
Calculated using the full available price history since Oct 12, 2015

0.44

The correlation between MLPB and SPHD shifts across timeframes, from 0.36 (1 year) to 0.53 (5 years), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ETRACS Alerian MLP Infrastructure Index ETN Series B

Invesco S&P 500® High Dividend Low Volatility ETF

Often compared with MLPB:
MLPB vs. AMZAMLPB vs. MLPRMLPB vs. AMLPMLPB vs. MLPXMLPB vs. VOOMLPB vs. ATMPMLPB vs. VCLN
Often compared with SPHD:
SPHD vs. SCHDSPHD vs. JEPISPHD vs. SPYDSPHD vs. VYMSPHD vs. SPYSPHD vs. SPLVSPHD vs. VOO

Return for Risk

MLPB vs. SPHD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MLPB
MLPB Risk / Return Rank: 4242
Overall Rank
MLPB Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
MLPB Sortino Ratio Rank: 4242
Sortino Ratio Rank
MLPB Omega Ratio Rank: 4040
Omega Ratio Rank
MLPB Calmar Ratio Rank: 4343
Calmar Ratio Rank
MLPB Martin Ratio Rank: 4141
Martin Ratio Rank
SPHD
SPHD Risk / Return Rank: 2121
Overall Rank
SPHD Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
SPHD Sortino Ratio Rank: 2121
Sortino Ratio Rank
SPHD Omega Ratio Rank: 1919
Omega Ratio Rank
SPHD Calmar Ratio Rank: 2323
Calmar Ratio Rank
SPHD Martin Ratio Rank: 2222
Martin Ratio Rank
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. SPHD - 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 Invesco S&P 500® High Dividend Low Volatility ETF (SPHD). 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.

MLPBSPHDDifference

Sharpe ratio

Return per unit of total volatility

1.54

0.74

+0.80

Sortino ratio

Return per unit of downside risk

2.16

1.15

+1.01

Omega ratio

Gain probability vs. loss probability

1.26

1.13

+0.14

Calmar ratio

Return relative to maximum drawdown

2.14

1.11

+1.03

Martin ratio

Return relative to average drawdown

6.60

2.78

+3.82

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MLPB vs. SPHD - Sharpe Ratio Comparison

The current MLPB Sharpe Ratio is 1.54, which is higher than the SPHD Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of MLPB and SPHD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

MLPBSPHDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.54

0.74

+0.80

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.97

0.39

+0.59

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.37

0.40

-0.04

Sharpe Ratio (All Time)

Calculated using the full available price history

0.24

0.58

-0.34

Drawdowns

MLPB vs. SPHD - Drawdown Comparison

The maximum MLPB drawdown since its inception was -71.93%, which is greater than SPHD's maximum drawdown of -41.39%. Use the drawdown chart below to compare losses from any high point for MLPB and SPHD.

Loading charts...

Drawdown Indicators

MLPBSPHDDifference

Max Drawdown

Largest peak-to-trough decline

-71.93%

-41.39%

-30.54%

Max Drawdown (1Y)

Largest decline over 1 year

-9.68%

-7.33%

-2.35%

Max Drawdown (3Y)

Largest decline over 3 years

-16.49%

-13.29%

-3.20%

Max Drawdown (5Y)

Largest decline over 5 years

-20.41%

-19.50%

-0.91%

Max Drawdown (10Y)

Largest decline over 10 years

-71.93%

-41.39%

-30.54%

Current Drawdown

Current decline from peak

-4.69%

-5.37%

+0.68%

Average Drawdown

Average peak-to-trough decline

-14.83%

-4.70%

-10.13%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.13%

2.93%

+0.20%

Volatility

MLPB vs. SPHD - Volatility Comparison

ETRACS Alerian MLP Infrastructure Index ETN Series B (MLPB) has a higher volatility of 5.40% compared to Invesco S&P 500® High Dividend Low Volatility ETF (SPHD) at 2.99%. This indicates that MLPB's price experiences larger fluctuations and is considered to be riskier than SPHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

MLPBSPHDDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.40%

2.99%

+2.41%

Volatility (6M)

Calculated over the trailing 6-month period

10.05%

7.55%

+2.50%

Volatility (1Y)

Calculated over the trailing 1-year period

13.51%

11.04%

+2.47%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.03%

14.16%

+5.87%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

28.11%

17.64%

+10.47%

MLPB vs. SPHD - Expense Ratio Comparison

MLPB has a 0.85% expense ratio, which is higher than SPHD's 0.30% expense ratio.

Dividends

MLPB vs. SPHD - Dividend Comparison

MLPB's dividend yield for the trailing twelve months is around 5.85%, more than SPHD's 4.62% yield.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%
SPHD
Invesco S&P 500® High Dividend Low Volatility ETF		4.62%4.02%3.41%4.48%3.89%3.45%4.89%4.07%4.40%3.14%3.83%3.49%

Frequently Asked Questions

MLPB and SPHD have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MLPB has higher volatility (5.40%) compared to SPHD (2.99%). In terms of maximum drawdown, MLPB dropped -71.93% vs SPHD's -41.39%.

On 10-year performance, MLPB leads with 10.20% vs 7.08% for SPHD. On fees, SPHD is cheaper at 0.30% per year. On volatility, SPHD has been the lower-risk option at 2.99%. 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 10.20% return vs 7.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPHD is cheaper with a 0.30% expense ratio, compared with 0.85% for MLPB.

MLPB has the higher dividend yield at 5.85%, compared with 4.62% for SPHD.

MLPB is categorized as MLPs, while SPHD is S&P 500. MLPB tracks Alerian MLP Infrastructure Index, while SPHD tracks S&P Low Volatility High Dividend index. They also come from different issuers: UBS and Invesco. Their fees differ too: 0.85% for MLPB and 0.30% for SPHD.

MLPB currently has the higher Sharpe Ratio (1.54 vs 0.74), 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.

Portfolio Optimizer

Find the right allocation for MLPB and SPHD

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer