MLPDX vs. MLPAX
Compare and contrast key facts about Invesco SteelPath MLP Income Fund Class A (MLPDX) and Invesco SteelPath MLP Alpha Fund Class A (MLPAX).
MLPDX is an actively managed fund by Invesco. It was launched on Mar 31, 2010. MLPAX is an actively managed fund by Invesco. It was launched on Mar 31, 2010.
Performance
MLPDX vs. MLPAX - Performance Comparison
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MLPDX vs. MLPAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MLPDX Invesco SteelPath MLP Income Fund Class A | 17.08% | 7.69% | 24.00% | 20.32% | 25.11% | 44.69% | -25.75% | 18.07% | -13.12% | -8.61% |
MLPAX Invesco SteelPath MLP Alpha Fund Class A | 17.20% | 4.31% | 40.77% | 20.43% | 29.07% | 39.45% | -30.58% | 5.60% | -15.05% | -7.22% |
Returns By Period
The year-to-date returns for both investments are quite close, with MLPDX having a 17.08% return and MLPAX slightly higher at 17.20%. Over the past 10 years, MLPDX has outperformed MLPAX with an annualized return of 12.41%, while MLPAX has yielded a comparatively lower 10.84% annualized return.
MLPDX
- 1D
- -0.73%
- 1M
- 2.36%
- YTD
- 17.08%
- 6M
- 20.19%
- 1Y
- 15.93%
- 3Y*
- 22.15%
- 5Y*
- 22.72%
- 10Y*
- 12.41%
MLPAX
- 1D
- -0.51%
- 1M
- 3.08%
- YTD
- 17.20%
- 6M
- 19.83%
- 1Y
- 14.53%
- 3Y*
- 26.37%
- 5Y*
- 25.99%
- 10Y*
- 10.84%
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MLPDX vs. MLPAX - Expense Ratio Comparison
MLPDX has a 9.02% expense ratio, which is higher than MLPAX's 1.54% expense ratio.
Return for Risk
MLPDX vs. MLPAX — Risk / Return Rank
MLPDX
MLPAX
MLPDX vs. MLPAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco SteelPath MLP Income Fund Class A (MLPDX) and Invesco SteelPath MLP Alpha Fund Class A (MLPAX). 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.
| MLPDX | MLPAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.96 | 0.87 | +0.09 |
Sortino ratioReturn per unit of downside risk | 1.30 | 1.18 | +0.12 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.19 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.05 | 0.93 | +0.12 |
Martin ratioReturn relative to average drawdown | 3.13 | 2.57 | +0.56 |
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
| MLPDX | MLPAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.96 | 0.87 | +0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.31 | 1.34 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 0.42 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.32 | 0.31 | +0.01 |
Correlation
The correlation between MLPDX and MLPAX is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
MLPDX vs. MLPAX - Dividend Comparison
MLPDX's dividend yield for the trailing twelve months is around 6.63%, more than MLPAX's 5.07% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MLPDX Invesco SteelPath MLP Income Fund Class A | 6.63% | 7.51% | 6.42% | 7.72% | 8.49% | 9.74% | 17.44% | 17.48% | 13.70% | 10.99% | 10.00% | 11.12% |
MLPAX Invesco SteelPath MLP Alpha Fund Class A | 5.07% | 5.72% | 5.00% | 5.91% | 6.56% | 7.91% | 14.02% | 9.91% | 10.40% | 8.21% | 7.34% | 7.99% |
Drawdowns
MLPDX vs. MLPAX - Drawdown Comparison
The maximum MLPDX drawdown since its inception was -77.09%, roughly equal to the maximum MLPAX drawdown of -77.51%. Use the drawdown chart below to compare losses from any high point for MLPDX and MLPAX.
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Drawdown Indicators
| MLPDX | MLPAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.09% | -77.51% | +0.42% |
Max Drawdown (1Y)Largest decline over 1 year | -14.45% | -14.80% | +0.35% |
Max Drawdown (5Y)Largest decline over 5 years | -17.98% | -21.04% | +3.06% |
Max Drawdown (10Y)Largest decline over 10 years | -72.90% | -72.85% | -0.05% |
Current DrawdownCurrent decline from peak | -1.30% | -0.61% | -0.69% |
Average DrawdownAverage peak-to-trough decline | -13.52% | -17.21% | +3.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.86% | 5.35% | -0.49% |
Volatility
MLPDX vs. MLPAX - Volatility Comparison
Invesco SteelPath MLP Income Fund Class A (MLPDX) has a higher volatility of 3.39% compared to Invesco SteelPath MLP Alpha Fund Class A (MLPAX) at 3.07%. This indicates that MLPDX's price experiences larger fluctuations and is considered to be riskier than MLPAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MLPDX | MLPAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.39% | 3.07% | +0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 8.09% | 7.67% | +0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.15% | 16.71% | -0.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.52% | 19.56% | -2.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.95% | 26.13% | -0.18% |