MLPNX vs. PFFA
MLPNX (Invesco SteelPath MLP Alpha Plus Fund) and PFFA (Virtus InfraCap U.S. Preferred Stock ETF) are both funds - MLPNX is a Energy Equities fund managed by Invesco, while PFFA is a Preferred Stock fund actively managed by Virtus. Over the past 5 years, MLPNX returned 29.97%/yr vs 5.57%/yr for PFFA. Their 0.36 correlation means their historical movements had little consistent relationship. MLPNX charges 1.34%/yr vs 1.47%/yr for PFFA.
Performance
MLPNX vs. PFFA - Performance Comparison
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Returns By Period
In the year-to-date period, MLPNX achieves a 31.24% return, which is significantly higher than PFFA's 1.20% return.
MLPNX
- 1D
- 0.25%
- 1M
- 4.83%
- 6M
- 20.74%
- YTD
- 31.24%
- 1Y
- 32.66%
- 3Y*
- 29.77%
- 5Y*
- 29.97%
- 10Y*
- 10.93%
- ALL TIME*
- 7.66%
PFFA
- 1D
- 0.44%
- 1M
- -0.04%
- 6M
- -0.75%
- YTD
- 1.20%
- 1Y
- 6.02%
- 3Y*
- 11.42%
- 5Y*
- 5.57%
- 10Y*
- —
- ALL TIME*
- 7.21%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $15.74M | $17.23M | $20.45M |
MLPNX vs. PFFA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MLPNX Invesco SteelPath MLP Alpha Plus Fund | 31.24% | 4.56% | 47.50% | 25.29% | 38.54% | 55.22% | -45.69% | 8.98% | -15.02% |
PFFA Virtus InfraCap U.S. Preferred Stock ETF | 1.20% | 8.22% | 16.11% | 26.45% | -20.91% | 23.53% | -7.87% | 31.99% | -7.29% |
Correlation
The correlation between MLPNX and PFFA is -0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.05 |
Correlation (3Y) Balances recent behavior with more history. | 0.20 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.33 |
Correlation (All Time) Calculated using the full available price history since May 16, 2018 | 0.36 |
The correlation between MLPNX and PFFA shifts across timeframes, from -0.05 (1 year) to 0.36 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MLPNX vs. PFFA — Risk / Return Rank
MLPNX
PFFA
MLPNX vs. PFFA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco SteelPath MLP Alpha Plus Fund (MLPNX) and Virtus InfraCap U.S. Preferred Stock ETF (PFFA). 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.
| MLPNX | PFFA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.16 | ||
| Sortino ratioReturn per unit of downside risk | +1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.14 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.61 | 0.89 | +2.73 |
| Martin ratioReturn relative to average drawdown | 8.84 | 2.56 | +6.28 |
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Drawdowns
MLPNX vs. PFFA - Drawdown Comparison
The maximum MLPNX drawdown since its inception was -87.31%, which is greater than PFFA's maximum drawdown of -70.52%. Use the drawdown chart below to compare losses from any high point for MLPNX and PFFA.
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Drawdown Indicators
| MLPNX | PFFA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -87.31% | -70.52% | -16.79% |
Max Drawdown (1Y)Largest decline over 1 year | -8.47% | -6.49% | -1.98% |
Max Drawdown (3Y)Largest decline over 3 years | -19.58% | -12.15% | -7.43% |
Max Drawdown (5Y)Largest decline over 5 years | -27.27% | -22.70% | -4.57% |
Max Drawdown (10Y)Largest decline over 10 years | -83.59% | — | — |
Current DrawdownCurrent decline from peak | -2.06% | -3.29% | +1.23% |
Average DrawdownAverage peak-to-trough decline | -25.27% | -6.57% | -18.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.62% | 2.25% | +1.37% |
Volatility
MLPNX vs. PFFA - Volatility Comparison
Invesco SteelPath MLP Alpha Plus Fund (MLPNX) has a higher volatility of 5.54% compared to Virtus InfraCap U.S. Preferred Stock ETF (PFFA) at 2.32%. This indicates that MLPNX's price experiences larger fluctuations and is considered to be riskier than PFFA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MLPNX | PFFA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.54% | 2.32% | +3.22% |
Volatility (6M)Calculated over the trailing 6-month period | 12.97% | 6.46% | +6.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.74% | 7.62% | +9.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.64% | 11.59% | +13.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.66% | 31.55% | +4.11% |
MLPNX vs. PFFA - Expense Ratio Comparison
MLPNX has a 1.34% expense ratio, which is lower than PFFA's 1.47% expense ratio.
Dividends
MLPNX vs. PFFA - Dividend Comparison
MLPNX's dividend yield for the trailing twelve months is around 4.48%, less than PFFA's 9.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MLPNX Invesco SteelPath MLP Alpha Plus Fund | 4.48% | 5.31% | 4.14% | 5.58% | 6.44% | 8.34% | 21.57% | 13.90% | 13.34% | 20.56% | 7.75% | 9.09% |
PFFA Virtus InfraCap U.S. Preferred Stock ETF | 9.98% | 9.47% | 9.18% | 9.56% | 10.75% | 7.64% | 8.54% | 10.02% | 5.15% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MLPNX and PFFA have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MLPNX has higher volatility (5.54%) compared to PFFA (2.32%). In terms of maximum drawdown, MLPNX dropped -87.31% vs PFFA's -70.52%.
MLPNX currently has the higher Sharpe Ratio (1.92 vs 0.76), 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.
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