MLPX vs. UMI

Last updated Jun 23, 2026

MLPX (Global X MLP & Energy Infrastructure ETF) and UMI (USCF Midstream Energy Income Fund ETF) are both exchange-traded funds - MLPX is a MLPs fund tracking the Solactive MLP & Energy Infrastructure Index, while UMI is a Energy Equities fund actively managed by Wainwright, Inc.. MLPX is passively managed, while UMI is actively managed. Over the past 5 years, MLPX returned 20.93%/yr vs 20.20%/yr for UMI. A 0.78 correlation means they provide meaningful diversification when combined. MLPX charges 0.45%/yr vs 0.85%/yr for UMI.

Performance

MLPX vs. UMI - Performance Comparison

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

Returns By Period

In the year-to-date period, MLPX achieves a 23.27% return, which is significantly higher than UMI's 21.76% return.

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%

UMI

• 1D: 0.96%
• 1M: -5.27%
• YTD: 21.76%
• 6M: 23.01%
• 1Y: 24.46%
• 3Y*: 27.84%
• 5Y*: 20.20%
• 10Y*: —

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

MLPX vs. UMI - 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%	10.11%
UMI USCF Midstream Energy Income Fund ETF	21.76%	5.11%	42.97%	14.60%	20.78%	20.97%	-8.25%	21.06%	-10.64%	2.76%

Correlation

The correlation between MLPX and UMI is 0.95 - 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Nov 30, 2017	0.78

The correlation between MLPX and UMI shifts across timeframes, from 0.78 (all time) to 0.97 (5 years), reflecting how their relationship changes across market environments.

MLPX vs. UMI - Sectors Allocation Comparison

Sectors	MLPX	UMI
Energy	99.5%	99.0%
Utilities	0.3%	1.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

MLPX vs. UMI — 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

UMI

UMI Risk / Return Rank: 54
UMI Sharpe Ratio Rank: 52
UMI Sortino Ratio Rank: 51
UMI Omega Ratio Rank: 48
UMI Calmar Ratio Rank: 68
UMI Martin Ratio Rank: 51

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. UMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MLP & Energy Infrastructure ETF (MLPX) and USCF Midstream Energy Income Fund ETF (UMI). 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	UMI	Difference
Sharpe ratio: Return per unit of total volatility	1.52	1.73	-0.21
Sortino ratio: Return per unit of downside risk	2.13	2.40	-0.27
Omega ratio: Gain probability vs. loss probability	1.26	1.30	-0.04
Calmar ratio: Return relative to maximum drawdown	2.85	3.28	-0.43
Martin ratio: Return relative to average drawdown	6.87	8.47	-1.61

MLPX vs. UMI - Sharpe Ratio Comparison

The current MLPX Sharpe Ratio is 1.52, which is comparable to the UMI Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of MLPX and UMI, 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. UMI - Drawdown Comparison

The maximum MLPX drawdown since its inception was -70.67%, which is greater than UMI's maximum drawdown of -48.08%. Use the drawdown chart below to compare losses from any high point for MLPX and UMI.

Drawdown Indicators

	MLPX	UMI	Difference
Max Drawdown Largest peak-to-trough decline	-70.67%	-48.08%	-22.59%
Max Drawdown (1Y) Largest decline over 1 year	-8.18%	-7.50%	-0.68%
Max Drawdown (3Y) Largest decline over 3 years	-16.77%	-17.08%	+0.31%
Max Drawdown (5Y) Largest decline over 5 years	-19.72%	-20.05%	+0.33%
Max Drawdown (10Y) Largest decline over 10 years	-64.70%	—	—
Current Drawdown Current decline from peak	-5.93%	-5.35%	-0.58%
Average Drawdown Average peak-to-trough decline	-16.59%	-6.59%	-10.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.39%	2.90%	+0.49%

Volatility

MLPX vs. UMI - Volatility Comparison

Global X MLP & Energy Infrastructure ETF (MLPX) and USCF Midstream Energy Income Fund ETF (UMI) have volatilities of 5.48% and 5.33%, 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	UMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.48%	5.33%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	11.71%	11.05%	+0.66%
Volatility (1Y) Calculated over the trailing 1-year period	15.38%	14.23%	+1.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.98%	19.45%	+0.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.49%	23.16%	+3.33%

MLPX vs. UMI - Expense Ratio Comparison

MLPX has a 0.45% expense ratio, which is lower than UMI's 0.85% expense ratio.

Dividends

MLPX vs. UMI - Dividend Comparison

MLPX's dividend yield for the trailing twelve months is around 4.16%, less than UMI's 6.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
UMI USCF Midstream Energy Income Fund ETF	6.02%	6.23%	4.39%	4.67%	4.36%	3.00%	2.18%	2.47%	2.48%	0.15%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MLPX and UMI in my portfolio?

With a correlation of 0.95, MLPX and UMI 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 UMI?

MLPX has higher volatility (5.48%) compared to UMI (5.33%). In terms of maximum drawdown, MLPX dropped -70.67% vs UMI's -48.08%.

Which ETF is better, MLPX or UMI?

On 5-year performance, MLPX leads with 20.93% vs 20.20% for UMI. On fees, MLPX is cheaper at 0.45% per year. On volatility, UMI has been the lower-risk option at 5.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MLPX or UMI?

Over the 5-year period, MLPX has performed better with a 20.93% return vs 20.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MLPX or UMI?

MLPX is cheaper with a 0.45% expense ratio, compared with 0.85% for UMI.

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

UMI has the higher dividend yield at 6.02%, compared with 4.16% for MLPX.

What is the main difference between MLPX and UMI?

MLPX is categorized as MLPs, while UMI is Energy Equities. They also come from different issuers: Global X and Wainwright, Inc.. Their fees differ too: 0.45% for MLPX and 0.85% for UMI.

Which has better risk-adjusted returns?

UMI currently has the higher Sharpe Ratio (1.73 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.