MLPD vs. IBMT

Last updated Aug 4, 2026

MLPD (Global X MLP & Energy Infrastructure Covered Call ETF) and IBMT (iShares iBonds Dec 2031 Term Muni Bond ETF) are both exchange-traded funds - MLPD is a Infrastructure Equities fund tracking the Cboe MLPX ATM BuyWrite Index, while IBMT is a Municipal Bonds fund tracking the S&P AMT-Free Municipal Series Dec 2031 Index. Both are passively managed. Over the past year, MLPD returned 11.46% vs 3.31% for IBMT. Their -0.11 correlation means they have often moved in opposite directions in the past. MLPD charges 0.60%/yr vs 0.18%/yr for IBMT.

Performance

MLPD vs. IBMT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MLP & Energy Infrastructure Covered Call ETF (MLPD) and iShares iBonds Dec 2031 Term Muni Bond ETF (IBMT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLPD achieves a 5.77% return, which is significantly higher than IBMT's 0.60% return.

MLPD

• 1D: -0.52%
• 1M: 0.16%
• 6M: 3.31%
• YTD: 5.77%
• 1Y: 11.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.20%

IBMT

• 1D: 0.22%
• 1M: -0.95%
• 6M: -0.35%
• YTD: 0.60%
• 1Y: 3.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.77%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IBMT iShares iBonds Dec 2031 Term Muni Bond ETF	$1.19M	$1.36M	$1.13M
MLPD Global X MLP & Energy Infrastructure Covered Call ETF	$334.42K	$282.21K	$276.41K

MLPD vs. IBMT - Yearly Performance Comparison

	2026 (YTD)	2025
MLPD Global X MLP & Energy Infrastructure Covered Call ETF	5.77%	10.27%
IBMT iShares iBonds Dec 2031 Term Muni Bond ETF	0.60%	7.26%

Correlation

The correlation between MLPD and IBMT is -0.18, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.18
Correlation (All Time) Calculated using the full available price history since Mar 26, 2025	-0.11

Return for Risk

MLPD vs. IBMT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MLPD

MLPD Risk / Return Rank: 61
MLPD Sharpe Ratio Rank: 62
MLPD Sortino Ratio Rank: 56
MLPD Omega Ratio Rank: 61
MLPD Calmar Ratio Rank: 65
MLPD Martin Ratio Rank: 60

IBMT

IBMT Risk / Return Rank: 38
IBMT Sharpe Ratio Rank: 40
IBMT Sortino Ratio Rank: 43
IBMT Omega Ratio Rank: 45
IBMT Calmar Ratio Rank: 31
IBMT Martin Ratio Rank: 30

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MLPD vs. IBMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MLP & Energy Infrastructure Covered Call ETF (MLPD) and iShares iBonds Dec 2031 Term Muni Bond ETF (IBMT). 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.

	MLPD	IBMT	Difference
Sharpe ratio: Return per unit of total volatility	1.51	1.11	+0.40
Sortino ratio: Return per unit of downside risk	2.04	1.72	+0.31
Omega ratio: Gain probability vs. loss probability	1.28	1.23	+0.05
Calmar ratio: Return relative to maximum drawdown	2.40	1.07	+1.32
Martin ratio: Return relative to average drawdown	7.46	2.95	+4.51

MLPD vs. IBMT - Sharpe Ratio Comparison

The current MLPD Sharpe Ratio is 1.51, which is higher than the IBMT Sharpe Ratio of 1.11. The chart below compares the historical Sharpe Ratios of MLPD and IBMT, 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

MLPD vs. IBMT - Drawdown Comparison

The maximum MLPD drawdown since its inception was -12.90%, which is greater than IBMT's maximum drawdown of -3.18%. Use the drawdown chart below to compare losses from any high point for MLPD and IBMT.

Drawdown Indicators

	MLPD	IBMT	Difference
Max Drawdown Largest peak-to-trough decline	-12.90%	-3.18%	-9.72%
Max Drawdown (1Y) Largest decline over 1 year	-4.80%	-3.10%	-1.70%
Current Drawdown Current decline from peak	-1.66%	-1.26%	-0.40%
Average Drawdown Average peak-to-trough decline	-1.11%	-0.76%	-0.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.54%	1.12%	+0.42%

Volatility

MLPD vs. IBMT - Volatility Comparison

Global X MLP & Energy Infrastructure Covered Call ETF (MLPD) has a higher volatility of 1.93% compared to iShares iBonds Dec 2031 Term Muni Bond ETF (IBMT) at 0.69%. This indicates that MLPD's price experiences larger fluctuations and is considered to be riskier than IBMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLPD	IBMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.93%	0.69%	+1.24%
Volatility (6M) Calculated over the trailing 6-month period	5.55%	2.38%	+3.17%
Volatility (1Y) Calculated over the trailing 1-year period	7.63%	3.00%	+4.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.17%	3.84%	+7.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.17%	3.84%	+7.33%

MLPD vs. IBMT - Expense Ratio Comparison

MLPD has a 0.60% expense ratio, which is higher than IBMT's 0.18% expense ratio.

Dividends

MLPD vs. IBMT - Dividend Comparison

MLPD's dividend yield for the trailing twelve months is around 13.77%, more than IBMT's 3.44% yield.

Position	TTM	2025	2024
IBMT iShares iBonds Dec 2031 Term Muni Bond ETF	3.44%	2.98%	0.00%
MLPD Global X MLP & Energy Infrastructure Covered Call ETF	13.77%	13.45%	6.68%

Frequently Asked Questions

Can I hold both MLPD and IBMT in my portfolio?

MLPD and IBMT have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MLPD or IBMT?

MLPD has higher volatility (1.93%) compared to IBMT (0.69%). In terms of maximum drawdown, MLPD dropped -12.90% vs IBMT's -3.18%.

Which ETF is better, MLPD or IBMT?

On 1-year performance, MLPD leads with 11.46% vs 3.31% for IBMT. On fees, IBMT is cheaper at 0.18% per year. On volatility, IBMT has been the lower-risk option at 0.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MLPD or IBMT?

Over the 1-year period, MLPD has performed better with a 11.46% return vs 3.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MLPD or IBMT?

IBMT is cheaper with a 0.18% expense ratio, compared with 0.60% for MLPD.

Which ETF pays a higher dividend yield, MLPD or IBMT?

MLPD has the higher dividend yield at 13.77%, compared with 3.44% for IBMT.

What is the main difference between MLPD and IBMT?

MLPD is categorized as Infrastructure Equities, while IBMT is Municipal Bonds. MLPD tracks Cboe MLPX ATM BuyWrite Index, while IBMT tracks S&P AMT-Free Municipal Series Dec 2031 Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.60% for MLPD and 0.18% for IBMT.

Which has better risk-adjusted returns?

MLPD currently has the higher Sharpe Ratio (1.51 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.