MLPX vs. UPGR

Last updated Aug 2, 2026

MLPX (Global X MLP & Energy Infrastructure ETF) and UPGR (Xtrackers US Green Infrastructure Select Equity ETF) are both Infrastructure Equities funds - MLPX tracks the Solactive MLP & Energy Infrastructure Index while UPGR tracks the Solactive United States Green Infrastructure ESG Screened Index - Benchmark TR Gross. Both are passively managed. Over the past 3 years, MLPX returned 26.63%/yr vs -0.42%/yr for UPGR. Their 0.27 correlation means their historical movements had little consistent relationship. MLPX charges 0.45%/yr vs 0.35%/yr for UPGR.

Performance

MLPX vs. UPGR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MLP & Energy Infrastructure ETF (MLPX) and Xtrackers US Green Infrastructure Select Equity ETF (UPGR). 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 UPGR's 0.49% 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%

UPGR

• 1D: -0.96%
• 1M: -9.75%
• 6M: -8.21%
• YTD: 0.49%
• 1Y: 28.76%
• 3Y*: -0.42%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -0.60%

*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)
MLPX Global X MLP & Energy Infrastructure ETF	$36.85M	$35.99M	$31.05M
UPGR Xtrackers US Green Infrastructure Select Equity ETF	$4.45K	$12.30K	$33.82K

MLPX vs. UPGR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MLPX Global X MLP & Energy Infrastructure ETF	26.75%	4.96%	42.90%	8.33%
UPGR Xtrackers US Green Infrastructure Select Equity ETF	0.49%	35.25%	-14.72%	-15.29%

Correlation

The correlation between MLPX and UPGR is 0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.01
Correlation (3Y) Balances recent behavior with more history.	0.27
Correlation (All Time) Calculated using the full available price history since Jul 13, 2023	0.27

Over the past year, the correlation between MLPX and UPGR has dropped to 0.01 - well below their long-term average of 0.27, suggesting their price drivers have been diverging.

MLPX vs. UPGR - Sectors Allocation Comparison

Sectors	MLPX	UPGR
Energy	99.6%	1.6%
Utilities	0.4%	8.7%
Industrials	0.3%	54.6%
Basic Materials	-	11.8%
Communication Services	-	-
Consumer Cyclical	-	9.3%
Consumer Defensive	-	2.8%
Financial Services	-	0.2%
Healthcare	-	-
Real Estate	-	-
Technology	-	10.9%

Return for Risk

MLPX vs. UPGR — 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

UPGR

UPGR Risk / Return Rank: 32
UPGR Sharpe Ratio Rank: 32
UPGR Sortino Ratio Rank: 33
UPGR Omega Ratio Rank: 30
UPGR Calmar Ratio Rank: 33
UPGR Martin Ratio Rank: 33

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. UPGR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MLP & Energy Infrastructure ETF (MLPX) and Xtrackers US Green Infrastructure Select Equity ETF (UPGR). 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	UPGR	Difference
Sharpe ratio: Return per unit of total volatility	1.71	0.78	+0.93
Sortino ratio: Return per unit of downside risk	2.41	1.25	+1.16
Omega ratio: Gain probability vs. loss probability	1.29	1.15	+0.15
Calmar ratio: Return relative to maximum drawdown	3.27	1.13	+2.14
Martin ratio: Return relative to average drawdown	7.63	3.00	+4.63

MLPX vs. UPGR - Sharpe Ratio Comparison

The current MLPX Sharpe Ratio is 1.71, which is higher than the UPGR Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of MLPX and UPGR, 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. UPGR - Drawdown Comparison

The maximum MLPX drawdown since its inception was -70.67%, which is greater than UPGR's maximum drawdown of -46.60%. Use the drawdown chart below to compare losses from any high point for MLPX and UPGR.

Drawdown Indicators

	MLPX	UPGR	Difference
Max Drawdown Largest peak-to-trough decline	-70.67%	-46.60%	-24.07%
Max Drawdown (1Y) Largest decline over 1 year	-8.18%	-22.71%	+14.53%
Max Drawdown (3Y) Largest decline over 3 years	-16.77%	-42.58%	+25.81%
Max Drawdown (5Y) Largest decline over 5 years	-19.72%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-64.70%	—	—
Current Drawdown Current decline from peak	-3.27%	-19.78%	+16.51%
Average Drawdown Average peak-to-trough decline	-16.47%	-20.11%	+3.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.49%	8.51%	-5.02%

Volatility

MLPX vs. UPGR - Volatility Comparison

The current volatility for Global X MLP & Energy Infrastructure ETF (MLPX) is 5.46%, while Xtrackers US Green Infrastructure Select Equity ETF (UPGR) has a volatility of 10.88%. This indicates that MLPX experiences smaller price fluctuations and is considered to be less risky than UPGR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLPX	UPGR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.46%	10.88%	-5.42%
Volatility (6M) Calculated over the trailing 6-month period	12.52%	24.18%	-11.66%
Volatility (1Y) Calculated over the trailing 1-year period	15.68%	32.98%	-17.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.90%	31.08%	-11.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.14%	31.08%	-4.94%

MLPX vs. UPGR - Expense Ratio Comparison

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

Dividends

MLPX vs. UPGR - Dividend Comparison

MLPX's dividend yield for the trailing twelve months is around 4.05%, more than UPGR's 0.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
UPGR Xtrackers US Green Infrastructure Select Equity ETF	0.32%	0.39%	1.16%	0.32%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MLPX and UPGR in my portfolio?

MLPX and UPGR have a correlation of 0.01, 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 UPGR?

UPGR has higher volatility (10.88%) compared to MLPX (5.46%). In terms of maximum drawdown, MLPX dropped -70.67% vs UPGR's -46.60%.

Which ETF is better, MLPX or UPGR?

On 3-year performance, MLPX leads with 26.63% vs -0.42% for UPGR. On fees, UPGR is cheaper at 0.35% per year. On volatility, MLPX has been the lower-risk option at 5.46%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MLPX or UPGR?

Over the 3-year period, MLPX has performed better with a 26.63% return vs -0.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MLPX or UPGR?

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

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

MLPX has the higher dividend yield at 4.05%, compared with 0.32% for UPGR.

What is the main difference between MLPX and UPGR?

MLPX tracks Solactive MLP & Energy Infrastructure Index, while UPGR tracks Solactive United States Green Infrastructure ESG Screened Index - Benchmark TR Gross. They also come from different issuers: Global X and Xtrackers. Their fees differ too: 0.45% for MLPX and 0.35% for UPGR.

Which has better risk-adjusted returns?

MLPX currently has the higher Sharpe Ratio (1.71 vs 0.78), 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.