MLPLX vs. ACEIX

Last updated Aug 1, 2026

MLPLX (Invesco SteelPath MLP Alpha Plus Fund Class A) and ACEIX (Invesco Equity and Income Fund) are both mutual funds - MLPLX is a MLPs fund actively managed by Invesco, while ACEIX is a Diversified Portfolio fund managed by Invesco. Over the past 10 years, MLPLX returned 9.46%/yr vs 8.77%/yr for ACEIX. Their 0.55 correlation means they have sometimes moved together and sometimes differently. MLPLX charges 17.25%/yr vs 0.78%/yr for ACEIX.

Performance

MLPLX vs. ACEIX - Performance Comparison

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

Returns By Period

In the year-to-date period, MLPLX achieves a 30.97% return, which is significantly higher than ACEIX's 7.11% return. Over the past 10 years, MLPLX has outperformed ACEIX with an annualized return of 9.46%, while ACEIX has yielded a comparatively lower 8.77% annualized return.

MLPLX

• 1D: 0.27%
• 1M: 4.79%
• 6M: 20.54%
• YTD: 30.97%
• 1Y: 32.27%
• 3Y*: 29.36%
• 5Y*: 29.67%
• 10Y*: 9.46%
• ALL TIME*: 6.58%

ACEIX

• 1D: 0.78%
• 1M: 0.17%
• 6M: 4.45%
• YTD: 7.11%
• 1Y: 15.01%
• 3Y*: 11.87%
• 5Y*: 7.42%
• 10Y*: 8.77%
• ALL TIME*: 8.96%

*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)
ACEIX Invesco Equity and Income Fund	$0.00	$0.00	$0.00
MLPLX Invesco SteelPath MLP Alpha Plus Fund Class A	$0.00	$0.00	$0.00

MLPLX vs. ACEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLPLX Invesco SteelPath MLP Alpha Plus Fund Class A	30.97%	4.36%	47.10%	25.02%	38.31%	55.18%	-46.03%	8.79%	-21.09%	-11.18%
ACEIX Invesco Equity and Income Fund	7.11%	12.85%	11.77%	10.08%	-7.75%	18.02%	9.96%	19.17%	-9.74%	10.86%

Correlation

The correlation between MLPLX and ACEIX is 0.15, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.15
Correlation (3Y) Balances recent behavior with more history.	0.40
Correlation (5Y) Shows whether the relationship held over a longer period.	0.55
Correlation (10Y) Provides a long-term view across more market conditions.	0.58
Correlation (All Time) Calculated using the full available price history since Dec 30, 2011	0.55

Over the past year, the correlation between MLPLX and ACEIX has dropped to 0.15 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.

Return for Risk

MLPLX vs. ACEIX — Risk / Return Rank

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

MLPLX

MLPLX Risk / Return Rank: 77
MLPLX Sharpe Ratio Rank: 80
MLPLX Sortino Ratio Rank: 74
MLPLX Omega Ratio Rank: 71
MLPLX Calmar Ratio Rank: 91
MLPLX Martin Ratio Rank: 70

ACEIX

ACEIX Risk / Return Rank: 74
ACEIX Sharpe Ratio Rank: 71
ACEIX Sortino Ratio Rank: 70
ACEIX Omega Ratio Rank: 69
ACEIX Calmar Ratio Rank: 77
ACEIX Martin Ratio Rank: 83

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.

MLPLX vs. ACEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco SteelPath MLP Alpha Plus Fund Class A (MLPLX) and Invesco Equity and Income Fund (ACEIX). 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.

	MLPLX	ACEIX	Difference
Sharpe ratio: Return per unit of total volatility	1.91	1.63	+0.28
Sortino ratio: Return per unit of downside risk	2.58	2.33	+0.26
Omega ratio: Gain probability vs. loss probability	1.32	1.29	+0.03
Calmar ratio: Return relative to maximum drawdown	3.60	2.46	+1.13
Martin ratio: Return relative to average drawdown	8.82	10.19	-1.37

MLPLX vs. ACEIX - Sharpe Ratio Comparison

The current MLPLX Sharpe Ratio is 1.91, which is comparable to the ACEIX Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of MLPLX and ACEIX, 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

MLPLX vs. ACEIX - Drawdown Comparison

The maximum MLPLX drawdown since its inception was -88.76%, which is greater than ACEIX's maximum drawdown of -40.08%. Use the drawdown chart below to compare losses from any high point for MLPLX and ACEIX.

Drawdown Indicators

	MLPLX	ACEIX	Difference
Max Drawdown Largest peak-to-trough decline	-88.76%	-40.08%	-48.68%
Max Drawdown (1Y) Largest decline over 1 year	-8.56%	-5.50%	-3.06%
Max Drawdown (3Y) Largest decline over 3 years	-19.55%	-12.40%	-7.15%
Max Drawdown (5Y) Largest decline over 5 years	-27.21%	-16.73%	-10.48%
Max Drawdown (10Y) Largest decline over 10 years	-85.02%	-30.80%	-54.22%
Current Drawdown Current decline from peak	-1.96%	-0.51%	-1.45%
Average Drawdown Average peak-to-trough decline	-28.71%	-4.59%	-24.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.60%	1.34%	+2.26%

Volatility

MLPLX vs. ACEIX - Volatility Comparison

Invesco SteelPath MLP Alpha Plus Fund Class A (MLPLX) has a higher volatility of 5.52% compared to Invesco Equity and Income Fund (ACEIX) at 2.18%. This indicates that MLPLX's price experiences larger fluctuations and is considered to be riskier than ACEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLPLX	ACEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.52%	2.18%	+3.34%
Volatility (6M) Calculated over the trailing 6-month period	12.92%	6.24%	+6.68%
Volatility (1Y) Calculated over the trailing 1-year period	16.69%	8.32%	+8.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.65%	11.06%	+13.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.44%	12.76%	+22.68%

MLPLX vs. ACEIX - Expense Ratio Comparison

MLPLX has a 17.25% expense ratio, which is higher than ACEIX's 0.78% expense ratio.

Dividends

MLPLX vs. ACEIX - Dividend Comparison

MLPLX's dividend yield for the trailing twelve months is around 4.83%, less than ACEIX's 6.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACEIX Invesco Equity and Income Fund	6.47%	6.87%	8.28%	6.91%	6.65%	13.74%	2.94%	5.53%	8.91%	6.73%	3.94%	5.17%
MLPLX Invesco SteelPath MLP Alpha Plus Fund Class A	4.83%	5.70%	4.42%	5.92%	6.79%	8.75%	22.54%	14.33%	13.67%	9.68%	7.88%	9.20%

Frequently Asked Questions

Can I hold both MLPLX and ACEIX in my portfolio?

MLPLX and ACEIX have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MLPLX or ACEIX?

MLPLX has higher volatility (5.52%) compared to ACEIX (2.18%). In terms of maximum drawdown, MLPLX dropped -88.76% vs ACEIX's -40.08%.

Which has better risk-adjusted returns?

MLPLX currently has the higher Sharpe Ratio (1.91 vs 1.63), 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.