MLPX vs. GII

Last updated Aug 2, 2026

MLPX (Global X MLP & Energy Infrastructure ETF) and GII (SPDR S&P Global Infrastructure ETF) are both Infrastructure Equities funds - MLPX tracks the Solactive MLP & Energy Infrastructure Index while GII tracks the S&P Global Infrastructure. Both are passively managed. Over the past 10 years, MLPX returned 12.35%/yr vs 8.20%/yr for GII. Their 0.62 correlation means they have sometimes moved together and sometimes differently. MLPX charges 0.45%/yr vs 0.40%/yr for GII.

Performance

MLPX vs. GII - Performance Comparison

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

Returns By Period

In the year-to-date period, MLPX achieves a 26.75% return, which is significantly higher than GII's 10.17% return. Over the past 10 years, MLPX has outperformed GII with an annualized return of 12.35%, while GII has yielded a comparatively lower 8.20% annualized return.

MLPX

• 1D: 0.31%
• 1M: 2.91%
• 6M: 17.40%
• YTD: 26.75%
• 1Y: 26.87%
• 3Y*: 26.63%
• 5Y*: 22.92%
• 10Y*: 12.35%
• ALL TIME*: 9.35%

GII

• 1D: -0.38%
• 1M: 0.09%
• 6M: 4.95%
• YTD: 10.17%
• 1Y: 16.01%
• 3Y*: 16.15%
• 5Y*: 11.07%
• 10Y*: 8.20%
• ALL TIME*: 5.55%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
GII SPDR S&P Global Infrastructure ETF	$3.26M	$4.04M	$4.11M
MLPX Global X MLP & Energy Infrastructure ETF	$36.85M	$35.99M	$31.05M

MLPX vs. GII - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLPX Global X MLP & Energy Infrastructure ETF	26.75%	4.96%	42.90%	15.77%	21.54%	39.63%	-20.32%	19.04%	-15.64%	-4.53%
GII SPDR S&P Global Infrastructure ETF	10.17%	21.79%	14.30%	5.90%	-0.54%	11.39%	-6.81%	26.32%	-10.08%	19.07%

Correlation

The correlation between MLPX and GII is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.40
Correlation (3Y) Balances recent behavior with more history.	0.58
Correlation (5Y) Shows whether the relationship held over a longer period.	0.65
Correlation (10Y) Provides a long-term view across more market conditions.	0.61
Correlation (All Time) Calculated using the full available price history since Aug 7, 2013	0.62

Over the past year, the correlation between MLPX and GII has dropped to 0.40 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.

MLPX vs. GII - Sectors Allocation Comparison

Sectors	MLPX	GII
Energy	99.6%	21.6%
Utilities	0.4%	27.3%
Industrials	0.3%	22.9%
Basic Materials	-	-
Communication Services	-	0.3%
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	4.7%
Healthcare	-	-
Real Estate	-	0.1%
Technology	-	4.4%

Return for Risk

MLPX vs. GII — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MLPX

MLPX Risk / Return Rank: 74
MLPX Sharpe Ratio Rank: 75
MLPX Sortino Ratio Rank: 76
MLPX Omega Ratio Rank: 70
MLPX Calmar Ratio Rank: 85
MLPX Martin Ratio Rank: 64

GII

GII Risk / Return Rank: 67
GII Sharpe Ratio Rank: 65
GII Sortino Ratio Rank: 64
GII Omega Ratio Rank: 64
GII Calmar Ratio Rank: 78
GII Martin Ratio Rank: 62

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MLPX vs. GII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MLP & Energy Infrastructure ETF (MLPX) and SPDR S&P Global Infrastructure ETF (GII). 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	GII	Difference
Sharpe ratio: Return per unit of total volatility	1.71	1.50	+0.21
Sortino ratio: Return per unit of downside risk	2.41	2.13	+0.29
Omega ratio: Gain probability vs. loss probability	1.29	1.27	+0.02
Calmar ratio: Return relative to maximum drawdown	3.27	2.77	+0.50
Martin ratio: Return relative to average drawdown	7.63	7.45	+0.18

MLPX vs. GII - Sharpe Ratio Comparison

The current MLPX Sharpe Ratio is 1.71, which is comparable to the GII Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of MLPX and GII, 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. GII - Drawdown Comparison

The maximum MLPX drawdown since its inception was -70.67%, which is greater than GII's maximum drawdown of -50.98%. Use the drawdown chart below to compare losses from any high point for MLPX and GII.

Drawdown Indicators

	MLPX	GII	Difference
Max Drawdown Largest peak-to-trough decline	-70.67%	-50.98%	-19.69%
Max Drawdown (1Y) Largest decline over 1 year	-8.18%	-5.94%	-2.24%
Max Drawdown (3Y) Largest decline over 3 years	-16.77%	-11.38%	-5.39%
Max Drawdown (5Y) Largest decline over 5 years	-19.72%	-20.67%	+0.95%
Max Drawdown (10Y) Largest decline over 10 years	-64.70%	-42.84%	-21.86%
Current Drawdown Current decline from peak	-3.27%	-2.39%	-0.88%
Average Drawdown Average peak-to-trough decline	-16.47%	-11.44%	-5.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.49%	2.20%	+1.29%

Volatility

MLPX vs. GII - Volatility Comparison

Global X MLP & Energy Infrastructure ETF (MLPX) has a higher volatility of 5.46% compared to SPDR S&P Global Infrastructure ETF (GII) at 2.72%. This indicates that MLPX's price experiences larger fluctuations and is considered to be riskier than GII based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLPX	GII	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.46%	2.72%	+2.74%
Volatility (6M) Calculated over the trailing 6-month period	12.52%	9.16%	+3.36%
Volatility (1Y) Calculated over the trailing 1-year period	15.68%	10.98%	+4.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.90%	14.06%	+5.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.14%	17.03%	+9.11%

MLPX vs. GII - Expense Ratio Comparison

MLPX has a 0.45% expense ratio, which is higher than GII's 0.40% expense ratio.

Dividends

MLPX vs. GII - Dividend Comparison

MLPX's dividend yield for the trailing twelve months is around 4.05%, more than GII's 2.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GII SPDR S&P Global Infrastructure ETF	2.66%	3.17%	3.23%	3.70%	3.07%	2.37%	2.66%	3.39%	3.31%	3.38%	3.11%	3.54%
MLPX Global X MLP & Energy Infrastructure ETF	4.05%	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 GII in my portfolio?

MLPX and GII have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MLPX or GII?

MLPX has higher volatility (5.46%) compared to GII (2.72%). In terms of maximum drawdown, MLPX dropped -70.67% vs GII's -50.98%.

Which ETF is better, MLPX or GII?

On 10-year performance, MLPX leads with 12.35% vs 8.20% for GII. On fees, GII is cheaper at 0.40% per year. On volatility, GII has been the lower-risk option at 2.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MLPX or GII?

Over the 10-year period, MLPX has performed better with a 12.35% return vs 8.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MLPX or GII?

GII is cheaper with a 0.40% expense ratio, compared with 0.45% for MLPX.

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

MLPX has the higher dividend yield at 4.05%, compared with 2.66% for GII.

What is the main difference between MLPX and GII?

MLPX tracks Solactive MLP & Energy Infrastructure Index, while GII tracks S&P Global Infrastructure. They also come from different issuers: Global X and State Street. Their fees differ too: 0.45% for MLPX and 0.40% for GII.

Which has better risk-adjusted returns?

MLPX currently has the higher Sharpe Ratio (1.71 vs 1.50), 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.