MLPR vs. MTUL
MLPR (ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN) and MTUL (ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN) are both exchange-traded funds - MLPR is a Leveraged Equities fund tracking the Alerian MLP Index (150%), while MTUL is a Momentum fund tracking the MSCI USA Momentum Index. Both are passively managed. Over the past 5 years, MLPR returned 26.89%/yr vs 19.95%/yr for MTUL. At a 0.39 correlation, their price movements are largely independent. Both charge a 0.95% expense ratio.
Performance
MLPR vs. MTUL - Performance Comparison
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Returns By Period
In the year-to-date period, MLPR achieves a 29.81% return, which is significantly lower than MTUL's 60.22% return.
MLPR
- 1D
- -0.37%
- 1M
- -1.12%
- YTD
- 29.81%
- 6M
- 26.95%
- 1Y
- 32.42%
- 3Y*
- 32.14%
- 5Y*
- 26.89%
- 10Y*
- —
MTUL
- 1D
- -0.74%
- 1M
- 27.97%
- YTD
- 60.22%
- 6M
- 59.66%
- 1Y
- 75.85%
- 3Y*
- 59.49%
- 5Y*
- 19.95%
- 10Y*
- —
MLPR vs. MTUL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN | 29.81% | 9.83% | 31.57% | 35.87% | 41.04% | 38.28% |
MTUL ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN | 60.22% | 27.42% | 58.70% | 10.66% | -37.97% | 7.00% |
Correlation
The correlation between MLPR and MTUL is -0.02, 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 | -0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.41 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2021 | 0.39 |
The correlation between MLPR and MTUL shifts across timeframes, from -0.02 (1 year) to 0.41 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MLPR vs. MTUL — Risk / Return Rank
MLPR
MTUL
MLPR vs. MTUL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR) and ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL). 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.
| MLPR | MTUL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.32 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 3.20 | -0.86 |
| Martin ratioReturn relative to average drawdown | 7.53 | 12.78 | -5.26 |
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
| MLPR | MTUL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.59 | 1.73 | -0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.92 | 0.47 | +0.45 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.93 | 0.41 | +0.53 |
Drawdowns
MLPR vs. MTUL - Drawdown Comparison
The maximum MLPR drawdown since its inception was -48.98%, smaller than the maximum MTUL drawdown of -56.83%. Use the drawdown chart below to compare losses from any high point for MLPR and MTUL.
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Drawdown Indicators
| MLPR | MTUL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.98% | -56.83% | +7.85% |
Max Drawdown (1Y)Largest decline over 1 year | -13.97% | -23.86% | +9.89% |
Max Drawdown (3Y)Largest decline over 3 years | -24.45% | -39.15% | +14.70% |
Max Drawdown (5Y)Largest decline over 5 years | -28.66% | -56.83% | +28.17% |
Current DrawdownCurrent decline from peak | -7.07% | -0.74% | -6.33% |
Average DrawdownAverage peak-to-trough decline | -8.94% | -22.68% | +13.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.32% | 5.96% | -1.64% |
Volatility
MLPR vs. MTUL - Volatility Comparison
The current volatility for ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN (MLPR) is 8.12%, while ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN (MTUL) has a volatility of 20.29%. This indicates that MLPR experiences smaller price fluctuations and is considered to be less risky than MTUL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MLPR | MTUL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.12% | 20.29% | -12.17% |
Volatility (6M)Calculated over the trailing 6-month period | 14.85% | 37.63% | -22.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.64% | 43.98% | -23.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.52% | 42.81% | -13.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.75% | 43.65% | -9.90% |
MLPR vs. MTUL - Expense Ratio Comparison
Both MLPR and MTUL have an expense ratio of 0.95%.
Dividends
MLPR vs. MTUL - Dividend Comparison
MLPR's dividend yield for the trailing twelve months is around 9.00%, while MTUL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|---|
MLPR ETRACS Quarterly Pay 1.5x Leveraged Alerian MLP Index ETN | 9.00% | 10.85% | 9.57% | 10.08% | 7.49% | 10.69% | 4.21% |
MTUL ETRACS 2x Leveraged MSCI US Momentum Factor TR ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MLPR and MTUL have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MTUL has higher volatility (20.29%) compared to MLPR (8.12%). In terms of maximum drawdown, MLPR dropped -48.98% vs MTUL's -56.83%.
On 5-year performance, MLPR leads with 26.89% vs 19.95% for MTUL. Both ETFs have the same 0.95% expense ratio. On volatility, MLPR has been the lower-risk option at 8.12%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, MLPR has performed better with a 26.89% return vs 19.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MLPR and MTUL have the same expense ratio: 0.95% per year.
MLPR has the higher dividend yield at 9.00%, compared with 0.00% for MTUL.
MLPR is categorized as Leveraged Equities, while MTUL is Momentum. MLPR tracks Alerian MLP Index (150%), while MTUL tracks MSCI USA Momentum Index.
MTUL currently has the higher Sharpe Ratio (1.73 vs 1.59), 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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