MLPX vs. ENFR

Last updated Jun 23, 2026

MLPX (Global X MLP & Energy Infrastructure ETF) and ENFR (Alerian Energy Infrastructure ETF) are both exchange-traded funds - MLPX is a MLPs fund tracking the Solactive MLP & Energy Infrastructure Index, while ENFR is a Energy Equities fund tracking the Alerian Midstream Energy Select Index. Both are passively managed. Over the past 10 years, MLPX returned 12.27%/yr vs 11.81%/yr for ENFR. Their correlation of 0.94 suggests significant overlap in exposure. MLPX charges 0.45%/yr vs 0.35%/yr for ENFR.

Performance

MLPX vs. ENFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MLP & Energy Infrastructure ETF (MLPX) and Alerian Energy Infrastructure ETF (ENFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with MLPX having a 23.27% return and ENFR slightly lower at 23.07%. Both investments have delivered pretty close results over the past 10 years, with MLPX having a 12.27% annualized return and ENFR not far behind at 11.81%.

MLPX

• 1D: 1.07%
• 1M: -5.57%
• YTD: 23.27%
• 6M: 24.71%
• 1Y: 23.19%
• 3Y*: 28.84%
• 5Y*: 20.93%
• 10Y*: 12.27%

ENFR

• 1D: 1.01%
• 1M: -5.94%
• YTD: 23.07%
• 6M: 24.76%
• 1Y: 24.84%
• 3Y*: 28.26%
• 5Y*: 19.69%
• 10Y*: 11.81%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MLPX vs. ENFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLPX Global X MLP & Energy Infrastructure ETF	23.27%	4.96%	42.90%	15.77%	21.54%	39.63%	-20.32%	19.04%	-15.64%	-4.53%
ENFR Alerian Energy Infrastructure ETF	23.07%	5.88%	42.17%	15.63%	17.48%	39.97%	-24.14%	21.60%	-18.67%	-0.19%

Correlation

The correlation between MLPX and ENFR is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Nov 1, 2013	0.94

The correlation between MLPX and ENFR has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

MLPX vs. ENFR - Sectors Allocation Comparison

Sectors	MLPX	ENFR
Energy	99.5%	98.5%
Utilities	0.3%	1.4%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	0.1%
Healthcare	-	-
Industrials	-	3.4%
Real Estate	-	-
Technology	-	-

Return for Risk

MLPX vs. ENFR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MLPX

MLPX Risk / Return Rank: 46
MLPX Sharpe Ratio Rank: 45
MLPX Sortino Ratio Rank: 43
MLPX Omega Ratio Rank: 40
MLPX Calmar Ratio Rank: 59
MLPX Martin Ratio Rank: 44

ENFR

ENFR Risk / Return Rank: 50
ENFR Sharpe Ratio Rank: 51
ENFR Sortino Ratio Rank: 49
ENFR Omega Ratio Rank: 46
ENFR Calmar Ratio Rank: 60
ENFR Martin Ratio Rank: 46

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MLPX vs. ENFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MLP & Energy Infrastructure ETF (MLPX) and Alerian Energy Infrastructure ETF (ENFR). 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.

	MLPX	ENFR	Difference
Sharpe ratio: Return per unit of total volatility	1.52	1.69	-0.17
Sortino ratio: Return per unit of downside risk	2.13	2.35	-0.22
Omega ratio: Gain probability vs. loss probability	1.26	1.29	-0.03
Calmar ratio: Return relative to maximum drawdown	2.85	2.89	-0.04
Martin ratio: Return relative to average drawdown	6.87	7.40	-0.54

MLPX vs. ENFR - Sharpe Ratio Comparison

The current MLPX Sharpe Ratio is 1.52, which is comparable to the ENFR Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of MLPX and ENFR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MLPX vs. ENFR - Drawdown Comparison

The maximum MLPX drawdown since its inception was -70.67%, roughly equal to the maximum ENFR drawdown of -68.28%. Use the drawdown chart below to compare losses from any high point for MLPX and ENFR.

Drawdown Indicators

	MLPX	ENFR	Difference
Max Drawdown Largest peak-to-trough decline	-70.67%	-68.28%	-2.39%
Max Drawdown (1Y) Largest decline over 1 year	-8.18%	-8.64%	+0.46%
Max Drawdown (3Y) Largest decline over 3 years	-16.77%	-15.58%	-1.19%
Max Drawdown (5Y) Largest decline over 5 years	-19.72%	-20.29%	+0.57%
Max Drawdown (10Y) Largest decline over 10 years	-64.70%	-62.64%	-2.06%
Current Drawdown Current decline from peak	-5.93%	-6.12%	+0.19%
Average Drawdown Average peak-to-trough decline	-16.59%	-15.94%	-0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.39%	3.36%	+0.03%

Volatility

MLPX vs. ENFR - Volatility Comparison

Global X MLP & Energy Infrastructure ETF (MLPX) and Alerian Energy Infrastructure ETF (ENFR) have volatilities of 5.48% and 5.42%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLPX	ENFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.48%	5.42%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	11.71%	11.57%	+0.14%
Volatility (1Y) Calculated over the trailing 1-year period	15.38%	14.82%	+0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.98%	19.24%	+0.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.49%	24.68%	+1.81%

MLPX vs. ENFR - Expense Ratio Comparison

MLPX has a 0.45% expense ratio, which is higher than ENFR's 0.35% expense ratio.

Dividends

MLPX vs. ENFR - Dividend Comparison

MLPX's dividend yield for the trailing twelve months is around 4.16%, more than ENFR's 4.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ENFR Alerian Energy Infrastructure ETF	4.08%	4.77%	4.41%	5.48%	5.23%	7.86%	7.57%	5.81%	3.98%	2.98%	3.31%	3.34%
MLPX Global X MLP & Energy Infrastructure ETF	4.16%	4.88%	4.30%	5.22%	5.23%	5.98%	8.32%	5.78%	5.77%	4.36%	5.50%	4.81%

Frequently Asked Questions

Can I hold both MLPX and ENFR in my portfolio?

With a correlation of 0.96, MLPX and ENFR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MLPX or ENFR?

MLPX has higher volatility (5.48%) compared to ENFR (5.42%). In terms of maximum drawdown, MLPX dropped -70.67% vs ENFR's -68.28%.

Which ETF is better, MLPX or ENFR?

On 10-year performance, MLPX leads with 12.27% vs 11.81% for ENFR. On fees, ENFR is cheaper at 0.35% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MLPX or ENFR?

Over the 10-year period, MLPX has performed better with a 12.27% return vs 11.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MLPX or ENFR?

ENFR is cheaper with a 0.35% expense ratio, compared with 0.45% for MLPX.

Which ETF pays a higher dividend yield, MLPX or ENFR?

MLPX has the higher dividend yield at 4.16%, compared with 4.08% for ENFR.

What is the main difference between MLPX and ENFR?

MLPX is categorized as MLPs, while ENFR is Energy Equities. MLPX tracks Solactive MLP & Energy Infrastructure Index, while ENFR tracks Alerian Midstream Energy Select Index. They also come from different issuers: Global X and SS&C. Their fees differ too: 0.45% for MLPX and 0.35% for ENFR.

Which has better risk-adjusted returns?

ENFR currently has the higher Sharpe Ratio (1.69 vs 1.52), 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.