MLPP.L vs. RNRU.L
MLPP.L (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist)) and RNRU.L (Global X Renewable Energy Producers UCITS ETF USD Accumulating) are both Energy Equities funds - MLPP.L tracks the MSCI World/Energy NR USD while RNRU.L tracks the S&P Global Clean Energy TR USD. Both are passively managed. Over the past 3 years, MLPP.L returned 15.77%/yr vs 2.64%/yr for RNRU.L. At a 0.21 correlation, their price movements are largely independent. Both charge a 0.50% expense ratio.
Performance
MLPP.L vs. RNRU.L - Performance Comparison
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Different Trading Currencies
MLPP.L is traded in GBp, while RNRU.L is traded in GBP. To make them comparable, the RNRU.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
The year-to-date returns for both investments are quite close, with MLPP.L having a 19.02% return and RNRU.L slightly higher at 19.04%.
MLPP.L
- 1D
- -0.55%
- 1M
- 0.89%
- YTD
- 19.02%
- 6M
- 13.93%
- 1Y
- 16.92%
- 3Y*
- 15.77%
- 5Y*
- 18.55%
- 10Y*
- 3.95%
RNRU.L
- 1D
- -2.01%
- 1M
- -0.63%
- YTD
- 19.04%
- 6M
- 18.21%
- 1Y
- 49.83%
- 3Y*
- 2.64%
- 5Y*
- —
- 10Y*
- —
MLPP.L vs. RNRU.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MLPP.L Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist) | 19.02% | -4.63% | 24.36% | 13.33% | 47.48% | -2.95% |
RNRU.L Global X Renewable Energy Producers UCITS ETF USD Accumulating | 19.04% | 24.83% | -21.90% | -19.50% | -0.25% | -2.90% |
Correlation
The correlation between MLPP.L and RNRU.L is -0.05, 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 | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2021 | 0.21 |
The correlation between MLPP.L and RNRU.L shifts across timeframes, from -0.05 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MLPP.L vs. RNRU.L — Risk / Return Rank
MLPP.L
RNRU.L
MLPP.L vs. RNRU.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist) (MLPP.L) and Global X Renewable Energy Producers UCITS ETF USD Accumulating (RNRU.L). 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.
| MLPP.L | RNRU.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.09 | ||
| Sortino ratioReturn per unit of downside risk | -2.72 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.52 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 1.87 | 8.92 | -7.05 |
| Martin ratioReturn relative to average drawdown | 4.35 | 29.05 | -24.70 |
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
| MLPP.L | RNRU.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.04 | 3.13 | -2.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.00 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.15 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.00 | -0.12 | +0.12 |
Drawdowns
MLPP.L vs. RNRU.L - Drawdown Comparison
The maximum MLPP.L drawdown since its inception was -84.51%, which is greater than RNRU.L's maximum drawdown of -53.53%. Use the drawdown chart below to compare losses from any high point for MLPP.L and RNRU.L.
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Drawdown Indicators
| MLPP.L | RNRU.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.51% | -53.53% | -30.98% |
Max Drawdown (1Y)Largest decline over 1 year | -8.99% | -5.56% | -3.43% |
Max Drawdown (3Y)Largest decline over 3 years | -19.03% | -37.25% | +18.22% |
Max Drawdown (5Y)Largest decline over 5 years | -19.03% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -80.34% | — | — |
Current DrawdownCurrent decline from peak | -7.30% | -20.48% | +13.18% |
Average DrawdownAverage peak-to-trough decline | -36.25% | -29.04% | -7.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.88% | 1.71% | +2.17% |
Volatility
MLPP.L vs. RNRU.L - Volatility Comparison
Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist) (MLPP.L) has a higher volatility of 6.47% compared to Global X Renewable Energy Producers UCITS ETF USD Accumulating (RNRU.L) at 5.73%. This indicates that MLPP.L's price experiences larger fluctuations and is considered to be riskier than RNRU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MLPP.L | RNRU.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.47% | 5.73% | +0.74% |
Volatility (6M)Calculated over the trailing 6-month period | 12.89% | 11.94% | +0.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.25% | 15.86% | +0.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.82% | 18.35% | +2.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.00% | 18.35% | +13.65% |
MLPP.L vs. RNRU.L - Expense Ratio Comparison
Both MLPP.L and RNRU.L have an expense ratio of 0.50%.
Dividends
MLPP.L vs. RNRU.L - Dividend Comparison
MLPP.L's dividend yield for the trailing twelve months is around 7.55%, while RNRU.L has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MLPP.L Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist) | 7.55% | 8.28% | 7.99% | 8.81% | 7.86% | 8.40% | 6.01% | 0.13% | 0.13% | 0.11% | 0.10% | 0.15% |
RNRU.L Global X Renewable Energy Producers UCITS ETF USD Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MLPP.L and RNRU.L 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.
Both ETFs have the same 0.50% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
MLPP.L and RNRU.L have the same expense ratio: 0.50% per year.
MLPP.L tracks MSCI World/Energy NR USD, while RNRU.L tracks S&P Global Clean Energy TR USD. They also come from different issuers: Invesco and Global X.
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