MLPLX vs. IVNQX

Last updated Jun 4, 2026

MLPLX (Invesco SteelPath MLP Alpha Plus Fund Class A) and IVNQX (Invesco Nasdaq 100 Index Fund) are both mutual funds - MLPLX is a MLPs fund actively managed by Invesco, while IVNQX is a Large Cap Growth Equities fund managed by Invesco. Over the past 5 years, MLPLX returned 26.85%/yr vs 18.49%/yr for IVNQX. At a 0.28 correlation, their price movements are largely independent. MLPLX charges 17.25%/yr vs 0.29%/yr for IVNQX.

Performance

MLPLX vs. IVNQX - 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 Nasdaq 100 Index Fund (IVNQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLPLX achieves a 25.29% return, which is significantly higher than IVNQX's 21.57% return.

MLPLX

• 1D: 1.54%
• 1M: -1.46%
• YTD: 25.29%
• 6M: 24.87%
• 1Y: 27.55%
• 3Y*: 31.45%
• 5Y*: 26.85%
• 10Y*: 8.82%

IVNQX

• 1D: 0.50%
• 1M: 10.92%
• YTD: 21.57%
• 6M: 19.92%
• 1Y: 42.07%
• 3Y*: 28.80%
• 5Y*: 18.49%
• 10Y*: —

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

MLPLX vs. IVNQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MLPLX Invesco SteelPath MLP Alpha Plus Fund Class A	25.29%	4.36%	47.10%	25.02%	38.31%	55.18%	20.28%
IVNQX Invesco Nasdaq 100 Index Fund	21.57%	20.77%	25.43%	54.62%	-32.05%	26.75%	8.46%

Correlation

The correlation between MLPLX and IVNQX is -0.07, 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	-0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (All Time) Calculated using the full available price history since Oct 16, 2020	0.28

The correlation between MLPLX and IVNQX shifts across timeframes, from -0.07 (1 year) to 0.29 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

MLPLX vs. IVNQX — Risk / Return Rank

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

MLPLX

MLPLX Risk / Return Rank: 44
MLPLX Sharpe Ratio Rank: 38
MLPLX Sortino Ratio Rank: 33
MLPLX Omega Ratio Rank: 32
MLPLX Calmar Ratio Rank: 73
MLPLX Martin Ratio Rank: 45

IVNQX

IVNQX Risk / Return Rank: 76
IVNQX Sharpe Ratio Rank: 84
IVNQX Sortino Ratio Rank: 72
IVNQX Omega Ratio Rank: 68
IVNQX Calmar Ratio Rank: 80
IVNQX Martin Ratio Rank: 74

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.

MLPLX vs. IVNQX - 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 Nasdaq 100 Index Fund (IVNQX). 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.

	MLPLX	IVNQX	Difference
Sharpe ratio: Return per unit of total volatility	1.80	2.71	-0.91
Sortino ratio: Return per unit of downside risk	2.41	3.52	-1.11
Omega ratio: Gain probability vs. loss probability	1.30	1.46	-0.16
Calmar ratio: Return relative to maximum drawdown	3.33	3.65	-0.32
Martin ratio: Return relative to average drawdown	9.47	14.01	-4.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MLPLX vs. IVNQX - Sharpe Ratio Comparison

The current MLPLX Sharpe Ratio is 1.80, which is lower than the IVNQX Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of MLPLX and IVNQX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MLPLX	IVNQX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.80	2.71	-0.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.07	0.83	+0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.25	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.85	-0.67

Drawdowns

MLPLX vs. IVNQX - Drawdown Comparison

The maximum MLPLX drawdown since its inception was -88.76%, which is greater than IVNQX's maximum drawdown of -34.83%. Use the drawdown chart below to compare losses from any high point for MLPLX and IVNQX.

Drawdown Indicators

	MLPLX	IVNQX	Difference
Max Drawdown Largest peak-to-trough decline	-88.76%	-34.83%	-53.93%
Max Drawdown (1Y) Largest decline over 1 year	-8.86%	-11.95%	+3.09%
Max Drawdown (3Y) Largest decline over 3 years	-19.55%	-22.70%	+3.15%
Max Drawdown (5Y) Largest decline over 5 years	-27.21%	-34.83%	+7.62%
Max Drawdown (10Y) Largest decline over 10 years	-85.02%	—	—
Current Drawdown Current decline from peak	-5.61%	0.00%	-5.61%
Average Drawdown Average peak-to-trough decline	-28.99%	-8.23%	-20.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	3.10%	0.00%

Volatility

MLPLX vs. IVNQX - Volatility Comparison

Invesco SteelPath MLP Alpha Plus Fund Class A (MLPLX) has a higher volatility of 6.78% compared to Invesco Nasdaq 100 Index Fund (IVNQX) at 4.48%. This indicates that MLPLX's price experiences larger fluctuations and is considered to be riskier than IVNQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLPLX	IVNQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.78%	4.48%	+2.30%
Volatility (6M) Calculated over the trailing 6-month period	12.24%	12.17%	+0.07%
Volatility (1Y) Calculated over the trailing 1-year period	16.47%	16.10%	+0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.24%	22.50%	+2.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.57%	22.41%	+13.16%

MLPLX vs. IVNQX - Expense Ratio Comparison

MLPLX has a 17.25% expense ratio, which is higher than IVNQX's 0.29% expense ratio.

Dividends

MLPLX vs. IVNQX - Dividend Comparison

MLPLX's dividend yield for the trailing twelve months is around 4.90%, more than IVNQX's 1.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVNQX Invesco Nasdaq 100 Index Fund	1.08%	1.31%	0.72%	0.54%	0.73%	0.84%	0.19%	0.00%	0.00%	0.00%	0.00%	0.00%
MLPLX Invesco SteelPath MLP Alpha Plus Fund Class A	4.90%	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 IVNQX in my portfolio?

MLPLX and IVNQX have a correlation of -0.07, 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 IVNQX?

MLPLX has higher volatility (6.78%) compared to IVNQX (4.48%). In terms of maximum drawdown, MLPLX dropped -88.76% vs IVNQX's -34.83%.

Which has better risk-adjusted returns?

IVNQX currently has the higher Sharpe Ratio (2.71 vs 1.80), 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.