MLPP.L vs. SGLP.L
MLPP.L (Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist)) and SGLP.L (Invesco Physical Gold A) are both exchange-traded funds - MLPP.L is a Energy Equities fund tracking the MSCI World/Energy NR USD, while SGLP.L is a Precious Metals fund tracking the Gold. Both are passively managed. Over the past 10 years, MLPP.L returned 3.95%/yr vs 14.26%/yr for SGLP.L. At a 0.05 correlation, their price movements are largely independent. MLPP.L charges 0.50%/yr vs 0.12%/yr for SGLP.L.
Performance
MLPP.L vs. SGLP.L - Performance Comparison
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Returns By Period
In the year-to-date period, MLPP.L achieves a 19.02% return, which is significantly higher than SGLP.L's 3.97% return. Over the past 10 years, MLPP.L has underperformed SGLP.L with an annualized return of 3.95%, while SGLP.L has yielded a comparatively higher 14.26% annualized return.
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%
SGLP.L
- 1D
- 0.70%
- 1M
- -1.36%
- YTD
- 3.97%
- 6M
- 5.45%
- 1Y
- 33.77%
- 3Y*
- 28.15%
- 5Y*
- 19.87%
- 10Y*
- 14.26%
MLPP.L vs. SGLP.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MLPP.L Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist) | 19.02% | -4.63% | 24.36% | 13.33% | 47.48% | 38.50% | -38.75% | -2.21% | -17.19% | -22.69% |
SGLP.L Invesco Physical Gold A | 3.97% | 53.60% | 28.14% | 7.26% | 11.83% | -2.88% | 19.99% | 14.65% | 4.31% | 1.64% |
Correlation
The correlation between MLPP.L and SGLP.L is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2013 | 0.05 |
The correlation between MLPP.L and SGLP.L shifts across timeframes, from -0.12 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MLPP.L vs. SGLP.L — Risk / Return Rank
MLPP.L
SGLP.L
MLPP.L vs. SGLP.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 Invesco Physical Gold A (SGLP.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 | SGLP.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.29 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.87 | 1.88 | -0.01 |
| Martin ratioReturn relative to average drawdown | 4.35 | 5.06 | -0.71 |
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 | SGLP.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.04 | 1.46 | -0.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.00 | 1.23 | -0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.15 | 0.91 | -0.75 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.00 | 0.53 | -0.53 |
Drawdowns
MLPP.L vs. SGLP.L - Drawdown Comparison
The maximum MLPP.L drawdown since its inception was -84.51%, which is greater than SGLP.L's maximum drawdown of -38.83%. Use the drawdown chart below to compare losses from any high point for MLPP.L and SGLP.L.
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Drawdown Indicators
| MLPP.L | SGLP.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -84.51% | -38.83% | -45.68% |
Max Drawdown (1Y)Largest decline over 1 year | -8.99% | -17.89% | +8.90% |
Max Drawdown (3Y)Largest decline over 3 years | -19.03% | -17.89% | -1.14% |
Max Drawdown (5Y)Largest decline over 5 years | -19.03% | -17.89% | -1.14% |
Max Drawdown (10Y)Largest decline over 10 years | -80.34% | -22.34% | -58.00% |
Current DrawdownCurrent decline from peak | -7.30% | -15.97% | +8.67% |
Average DrawdownAverage peak-to-trough decline | -36.25% | -13.37% | -22.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.88% | 6.65% | -2.77% |
Volatility
MLPP.L vs. SGLP.L - Volatility Comparison
Invesco Morningstar US Energy Infrastructure MLP UCITS ETF (Dist) (MLPP.L) has a higher volatility of 6.47% compared to Invesco Physical Gold A (SGLP.L) at 5.10%. This indicates that MLPP.L's price experiences larger fluctuations and is considered to be riskier than SGLP.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 | SGLP.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.47% | 5.10% | +1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 12.89% | 19.90% | -7.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.25% | 23.02% | -6.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.82% | 16.11% | +4.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.00% | 15.72% | +16.28% |
MLPP.L vs. SGLP.L - Expense Ratio Comparison
MLPP.L has a 0.50% expense ratio, which is higher than SGLP.L's 0.12% expense ratio.
Dividends
MLPP.L vs. SGLP.L - Dividend Comparison
MLPP.L's dividend yield for the trailing twelve months is around 7.55%, while SGLP.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% |
SGLP.L Invesco Physical Gold A | 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 SGLP.L have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SGLP.L is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SGLP.L is cheaper with a 0.12% expense ratio, compared with 0.50% for MLPP.L.
MLPP.L is categorized as Energy Equities, while SGLP.L is Precious Metals. MLPP.L tracks MSCI World/Energy NR USD, while SGLP.L tracks Gold. Their fees differ too: 0.50% for MLPP.L and 0.12% for SGLP.L.
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