MLPDX vs. MSIGX

Last updated Jun 24, 2026

MLPDX (Invesco SteelPath MLP Income Fund Class A) and MSIGX (Invesco Main Street Fund) are both mutual funds - MLPDX is a MLPs fund actively managed by Invesco, while MSIGX is a Large Cap Blend Equities fund managed by Invesco. Over the past 10 years, MLPDX returned 9.71%/yr vs 12.06%/yr for MSIGX. At a 0.45 correlation, their price movements are largely independent. MLPDX charges 9.02%/yr vs 0.82%/yr for MSIGX.

Performance

MLPDX vs. MSIGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco SteelPath MLP Income Fund Class A (MLPDX) and Invesco Main Street Fund (MSIGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLPDX achieves a 16.69% return, which is significantly higher than MSIGX's 5.31% return. Over the past 10 years, MLPDX has underperformed MSIGX with an annualized return of 9.71%, while MSIGX has yielded a comparatively higher 12.06% annualized return.

MLPDX

• 1D: 0.30%
• 1M: -6.16%
• YTD: 16.69%
• 6M: 16.30%
• 1Y: 20.44%
• 3Y*: 21.51%
• 5Y*: 17.94%
• 10Y*: 9.71%

MSIGX

• 1D: -0.65%
• 1M: 0.11%
• YTD: 5.31%
• 6M: 4.42%
• 1Y: 17.85%
• 3Y*: 17.55%
• 5Y*: 10.51%
• 10Y*: 12.06%

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

MLPDX vs. MSIGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLPDX Invesco SteelPath MLP Income Fund Class A	16.69%	7.69%	24.00%	20.32%	25.11%	44.69%	-25.75%	18.07%	-13.12%	-8.61%
MSIGX Invesco Main Street Fund	5.31%	16.02%	23.66%	23.06%	-20.21%	27.37%	14.41%	22.49%	-8.25%	16.79%

Correlation

The correlation between MLPDX and MSIGX 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	0.29
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Apr 5, 2010	0.45

Over the past year, the correlation between MLPDX and MSIGX has dropped to 0.01 - well below their long-term average of 0.45, suggesting their price drivers have been diverging.

Return for Risk

MLPDX vs. MSIGX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MLPDX

MLPDX Risk / Return Rank: 42
MLPDX Sharpe Ratio Rank: 40
MLPDX Sortino Ratio Rank: 38
MLPDX Omega Ratio Rank: 34
MLPDX Calmar Ratio Rank: 56
MLPDX Martin Ratio Rank: 43

MSIGX

MSIGX Risk / Return Rank: 36
MSIGX Sharpe Ratio Rank: 37
MSIGX Sortino Ratio Rank: 38
MSIGX Omega Ratio Rank: 36
MSIGX Calmar Ratio Rank: 30
MSIGX Martin Ratio Rank: 37

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.

MLPDX vs. MSIGX - 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 Main Street Fund (MSIGX). 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.

	MLPDX	MSIGX	Difference
Sharpe ratio: Return per unit of total volatility	1.69	1.64	+0.05
Sortino ratio: Return per unit of downside risk	2.38	2.38	+0.01
Omega ratio: Gain probability vs. loss probability	1.29	1.30	-0.01
Calmar ratio: Return relative to maximum drawdown	2.74	1.93	+0.81
Martin ratio: Return relative to average drawdown	8.72	7.78	+0.94

MLPDX vs. MSIGX - Sharpe Ratio Comparison

The current MLPDX Sharpe Ratio is 1.69, which is comparable to the MSIGX Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of MLPDX and MSIGX, 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

MLPDX vs. MSIGX - Drawdown Comparison

The maximum MLPDX drawdown since its inception was -77.09%, which is greater than MSIGX's maximum drawdown of -57.22%. Use the drawdown chart below to compare losses from any high point for MLPDX and MSIGX.

Drawdown Indicators

	MLPDX	MSIGX	Difference
Max Drawdown Largest peak-to-trough decline	-77.09%	-57.22%	-19.87%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	-10.96%	+3.73%
Max Drawdown (3Y) Largest decline over 3 years	-14.45%	-19.91%	+5.46%
Max Drawdown (5Y) Largest decline over 5 years	-17.98%	-26.73%	+8.75%
Max Drawdown (10Y) Largest decline over 10 years	-72.90%	-35.41%	-37.49%
Current Drawdown Current decline from peak	-6.82%	-1.29%	-5.53%
Average Drawdown Average peak-to-trough decline	-13.37%	-8.98%	-4.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	2.60%	-0.34%

Volatility

MLPDX vs. MSIGX - Volatility Comparison

The current volatility for Invesco SteelPath MLP Income Fund Class A (MLPDX) is 4.15%, while Invesco Main Street Fund (MSIGX) has a volatility of 4.63%. This indicates that MLPDX experiences smaller price fluctuations and is considered to be less risky than MSIGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLPDX	MSIGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.15%	4.63%	-0.48%
Volatility (6M) Calculated over the trailing 6-month period	8.82%	10.06%	-1.24%
Volatility (1Y) Calculated over the trailing 1-year period	11.74%	12.89%	-1.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.27%	17.00%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.76%	17.94%	+7.82%

MLPDX vs. MSIGX - Expense Ratio Comparison

MLPDX has a 9.02% expense ratio, which is higher than MSIGX's 0.82% expense ratio.

Dividends

MLPDX vs. MSIGX - Dividend Comparison

MLPDX's dividend yield for the trailing twelve months is around 6.86%, less than MSIGX's 7.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLPDX Invesco SteelPath MLP Income Fund Class A	6.86%	7.51%	6.42%	7.72%	8.49%	9.74%	17.44%	17.48%	13.70%	10.99%	10.00%	11.12%
MSIGX Invesco Main Street Fund	7.12%	7.50%	6.06%	7.40%	4.68%	19.19%	3.17%	0.89%	19.62%	7.50%	2.96%	13.79%

Frequently Asked Questions

Can I hold both MLPDX and MSIGX in my portfolio?

MLPDX and MSIGX 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.

Which is riskier, MLPDX or MSIGX?

MSIGX has higher volatility (4.63%) compared to MLPDX (4.15%). In terms of maximum drawdown, MLPDX dropped -77.09% vs MSIGX's -57.22%.

Which has better risk-adjusted returns?

MLPDX currently has the higher Sharpe Ratio (1.69 vs 1.64), 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.