MLPLX vs. NML
Compare and contrast key facts about Invesco SteelPath MLP Alpha Plus Fund Class A (MLPLX) and Neuberger Berman MLP (NML).
MLPLX is an actively managed fund by Invesco. It was launched on Feb 6, 2012. NML is an actively managed fund by Neuberger Berman. It was launched on Mar 26, 2013.
Performance
MLPLX vs. NML - Performance Comparison
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MLPLX vs. NML - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MLPLX Invesco SteelPath MLP Alpha Plus Fund Class A | 24.85% | 4.36% | 47.10% | 25.02% | 38.31% | 55.18% | -46.03% | 8.79% | -21.09% | -11.18% |
NML Neuberger Berman MLP | 25.95% | 4.36% | 40.55% | 14.61% | 32.75% | 61.76% | -45.84% | 10.60% | -23.02% | 7.07% |
Returns By Period
The year-to-date returns for both investments are quite close, with MLPLX having a 24.85% return and NML slightly higher at 25.95%. Over the past 10 years, MLPLX has underperformed NML with an annualized return of 12.01%, while NML has yielded a comparatively higher 12.90% annualized return.
MLPLX
- 1D
- -0.68%
- 1M
- 4.13%
- YTD
- 24.85%
- 6M
- 28.08%
- 1Y
- 19.00%
- 3Y*
- 32.02%
- 5Y*
- 33.16%
- 10Y*
- 12.01%
NML
- 1D
- -0.19%
- 1M
- 3.44%
- YTD
- 25.95%
- 6M
- 25.36%
- 1Y
- 26.49%
- 3Y*
- 27.91%
- 5Y*
- 28.84%
- 10Y*
- 12.90%
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MLPLX vs. NML - Expense Ratio Comparison
MLPLX has a 17.25% expense ratio, which is higher than NML's 2.72% expense ratio.
Return for Risk
MLPLX vs. NML — Risk / Return Rank
MLPLX
NML
MLPLX vs. NML - 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 Neuberger Berman MLP (NML). 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 | NML | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.86 | 1.22 | -0.36 |
Sortino ratioReturn per unit of downside risk | 1.18 | 1.60 | -0.42 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.25 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 0.96 | 1.66 | -0.70 |
Martin ratioReturn relative to average drawdown | 2.19 | 5.64 | -3.45 |
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
| MLPLX | NML | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | 1.22 | -0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.32 | 1.21 | +0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.34 | 0.37 | -0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | 0.08 | +0.11 |
Correlation
The correlation between MLPLX and NML is 0.75, 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
MLPLX vs. NML - Dividend Comparison
MLPLX's dividend yield for the trailing twelve months is around 4.78%, less than NML's 6.67% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MLPLX Invesco SteelPath MLP Alpha Plus Fund Class A | 4.78% | 5.70% | 4.42% | 5.92% | 6.79% | 8.75% | 22.54% | 14.33% | 13.67% | 9.68% | 7.88% | 9.20% |
NML Neuberger Berman MLP | 6.67% | 8.24% | 7.94% | 10.19% | 4.26% | 3.54% | 8.33% | 9.76% | 9.87% | 7.04% | 8.63% | 15.44% |
Drawdowns
MLPLX vs. NML - Drawdown Comparison
The maximum MLPLX drawdown since its inception was -88.76%, roughly equal to the maximum NML drawdown of -90.48%. Use the drawdown chart below to compare losses from any high point for MLPLX and NML.
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Drawdown Indicators
| MLPLX | NML | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.76% | -90.48% | +1.72% |
Max Drawdown (1Y)Largest decline over 1 year | -18.61% | -15.72% | -2.89% |
Max Drawdown (5Y)Largest decline over 5 years | -27.21% | -21.40% | -5.81% |
Max Drawdown (10Y)Largest decline over 10 years | -85.02% | -84.84% | -0.18% |
Current DrawdownCurrent decline from peak | -1.09% | -0.66% | -0.43% |
Average DrawdownAverage peak-to-trough decline | -29.30% | -37.54% | +8.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.17% | 4.62% | +3.55% |
Volatility
MLPLX vs. NML - Volatility Comparison
Invesco SteelPath MLP Alpha Plus Fund Class A (MLPLX) and Neuberger Berman MLP (NML) have volatilities of 4.20% and 4.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MLPLX | NML | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.20% | 4.14% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 11.08% | 12.52% | -1.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.04% | 21.79% | +0.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.38% | 23.88% | +1.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.79% | 35.35% | +0.44% |