MLPOX vs. IEYYX
MLPOX (Invesco SteelPath MLP Alpha Fund) and IEYYX (Delaware Ivy Energy Fund) are both Energy Equities funds. Over the past 10 years, MLPOX returned 9.35%/yr vs 1.82%/yr for IEYYX. Their 0.67 correlation means they have sometimes moved together and sometimes differently. MLPOX charges 1.29%/yr vs 1.28%/yr for IEYYX.
Performance
MLPOX vs. IEYYX - Performance Comparison
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Returns By Period
In the year-to-date period, MLPOX achieves a 21.85% return, which is significantly higher than IEYYX's 15.97% return. Over the past 10 years, MLPOX has outperformed IEYYX with an annualized return of 9.35%, while IEYYX has yielded a comparatively lower 1.82% annualized return.
MLPOX
- 1D
- 0.19%
- 1M
- 3.43%
- 6M
- 14.95%
- YTD
- 21.85%
- 1Y
- 23.45%
- 3Y*
- 23.81%
- 5Y*
- 23.74%
- 10Y*
- 9.35%
- ALL TIME*
- 7.62%
IEYYX
- 1D
- 1.91%
- 1M
- 0.71%
- 6M
- 6.86%
- YTD
- 15.97%
- 1Y
- 34.15%
- 3Y*
- 9.00%
- 5Y*
- 16.54%
- 10Y*
- 1.82%
- ALL TIME*
- 1.60%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MLPOX vs. IEYYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MLPOX Invesco SteelPath MLP Alpha Fund | 21.85% | 4.47% | 40.63% | 20.44% | 29.45% | 39.81% | -30.40% | 6.71% | -14.77% | -6.96% |
IEYYX Delaware Ivy Energy Fund | 15.97% | 22.56% | -3.60% | -4.08% | 41.14% | 43.34% | -38.68% | 4.25% | -34.47% | -12.98% |
Correlation
The correlation between MLPOX and IEYYX is 0.23, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.23 |
Correlation (3Y) Balances recent behavior with more history. | 0.43 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.63 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.70 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2010 | 0.67 |
Over the past year, the correlation between MLPOX and IEYYX has dropped to 0.23 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.
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Return for Risk
MLPOX vs. IEYYX — Risk / Return Rank
MLPOX
IEYYX
MLPOX vs. IEYYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco SteelPath MLP Alpha Fund (MLPOX) and Delaware Ivy Energy Fund (IEYYX). 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.
| MLPOX | IEYYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.42 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.90 | 4.58 | -0.68 |
| Martin ratioReturn relative to average drawdown | 9.38 | 13.85 | -4.47 |
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Drawdowns
MLPOX vs. IEYYX - Drawdown Comparison
The maximum MLPOX drawdown since its inception was -76.99%, smaller than the maximum IEYYX drawdown of -85.16%. Use the drawdown chart below to compare losses from any high point for MLPOX and IEYYX.
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Drawdown Indicators
| MLPOX | IEYYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.99% | -85.16% | +8.17% |
Max Drawdown (1Y)Largest decline over 1 year | -5.93% | -7.04% | +1.11% |
Max Drawdown (3Y)Largest decline over 3 years | -15.18% | -22.71% | +7.53% |
Max Drawdown (5Y)Largest decline over 5 years | -21.17% | -30.43% | +9.26% |
Max Drawdown (10Y)Largest decline over 10 years | -72.41% | -81.45% | +9.04% |
Current DrawdownCurrent decline from peak | -1.47% | -25.05% | +23.58% |
Average DrawdownAverage peak-to-trough decline | -16.29% | -35.08% | +18.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 2.35% | +0.11% |
Volatility
MLPOX vs. IEYYX - Volatility Comparison
Invesco SteelPath MLP Alpha Fund (MLPOX) has a higher volatility of 3.90% compared to Delaware Ivy Energy Fund (IEYYX) at 3.54%. This indicates that MLPOX's price experiences larger fluctuations and is considered to be riskier than IEYYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MLPOX | IEYYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.90% | 3.54% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 9.22% | 10.27% | -1.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.73% | 13.57% | -1.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.05% | 21.18% | -2.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.96% | 30.64% | -4.68% |
MLPOX vs. IEYYX - Expense Ratio Comparison
MLPOX has a 1.29% expense ratio, which is higher than IEYYX's 1.28% expense ratio.
Dividends
MLPOX vs. IEYYX - Dividend Comparison
MLPOX's dividend yield for the trailing twelve months is around 4.75%, more than IEYYX's 0.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IEYYX Delaware Ivy Energy Fund | 0.75% | 0.87% | 0.91% | 2.37% | 1.33% | 1.49% | 2.17% | 0.00% | 0.00% | 0.36% | 0.00% | 0.00% |
MLPOX Invesco SteelPath MLP Alpha Fund | 4.75% | 5.31% | 4.26% | 5.55% | 6.19% | 7.52% | 13.39% | 10.42% | 10.08% | 8.00% | 7.18% | 7.85% |
Frequently Asked Questions
MLPOX and IEYYX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MLPOX has higher volatility (3.90%) compared to IEYYX (3.54%). In terms of maximum drawdown, MLPOX dropped -76.99% vs IEYYX's -85.16%.
IEYYX currently has the higher Sharpe Ratio (2.39 vs 1.97), 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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