PIPE vs. PWRZ

Last updated Jul 14, 2026

PIPE (Invesco SteelPath MLP & Energy Infrastructure ETF) and PWRZ (TrueShares Eagle Global Next Gen Power Infrastructure ETF) are both Energy Equities funds. Both are actively managed. With a 1.00 correlation, they move nearly in lockstep. Both charge a 0.75% expense ratio.

Performance

PIPE vs. PWRZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE) and TrueShares Eagle Global Next Gen Power Infrastructure ETF (PWRZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PIPE

• 1D: 1.39%
• 1M: 1.89%
• 6M: 30.75%
• YTD: 29.69%
• 1Y: 33.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PWRZ

• 1D: -0.17%
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PIPE vs. PWRZ - Yearly Performance Comparison

	2026 (YTD)
PIPE Invesco SteelPath MLP & Energy Infrastructure ETF	0.71%
PWRZ TrueShares Eagle Global Next Gen Power Infrastructure ETF	-0.40%

Correlation

The correlation between PIPE and PWRZ is 1.00 - 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 (All Time) Calculated using the full available price history since Jul 10, 2026	1.00

Return for Risk

PIPE vs. PWRZ — Risk / Return Rank

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

PIPE

PIPE Risk / Return Rank: 85
PIPE Sharpe Ratio Rank: 88
PIPE Sortino Ratio Rank: 86
PIPE Omega Ratio Rank: 83
PIPE Calmar Ratio Rank: 91
PIPE Martin Ratio Rank: 76

PWRZ

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

PIPE vs. PWRZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE) and TrueShares Eagle Global Next Gen Power Infrastructure ETF (PWRZ). 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.

	PIPE	PWRZ	Difference
Sharpe ratio: Return per unit of total volatility	2.29	—	—
Sortino ratio: Return per unit of downside risk	3.10	—	—
Omega ratio: Gain probability vs. loss probability	1.39	—	—
Calmar ratio: Return relative to maximum drawdown	4.62	—	—
Martin ratio: Return relative to average drawdown	11.17	—	—

Drawdowns

PIPE vs. PWRZ - Drawdown Comparison

The maximum PIPE drawdown since its inception was -15.69%, which is greater than PWRZ's maximum drawdown of -0.40%. Use the drawdown chart below to compare losses from any high point for PIPE and PWRZ.

Drawdown Indicators

	PIPE	PWRZ	Difference
Max Drawdown Largest peak-to-trough decline	-15.69%	-0.40%	-15.29%
Max Drawdown (1Y) Largest decline over 1 year	-7.33%	—	—
Current Drawdown Current decline from peak	-2.29%	-0.40%	-1.89%
Average Drawdown Average peak-to-trough decline	-4.02%	-0.31%	-3.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.03%	—	—

Volatility

Volatility by Period

	PIPE	PWRZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.54%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.65%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.87%	0.62%	+14.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.71%	0.62%	+18.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.71%	0.62%	+18.09%

PIPE vs. PWRZ - Expense Ratio Comparison

Both PIPE and PWRZ have an expense ratio of 0.75%.

Dividends

PIPE vs. PWRZ - Dividend Comparison

PIPE's dividend yield for the trailing twelve months is around 3.66%, while PWRZ has not paid dividends to shareholders.

Position	TTM	2025
PIPE Invesco SteelPath MLP & Energy Infrastructure ETF	3.66%	3.74%
PWRZ TrueShares Eagle Global Next Gen Power Infrastructure ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both PIPE and PWRZ in my portfolio?

With a correlation of 1.00, PIPE and PWRZ 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 ETF is better, PIPE or PWRZ?

Both ETFs have the same 0.75% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PIPE or PWRZ?

PIPE and PWRZ have the same expense ratio: 0.75% per year.

Which ETF pays a higher dividend yield, PIPE or PWRZ?

PIPE has the higher dividend yield at 3.66%, compared with 0.00% for PWRZ.

What is the main difference between PIPE and PWRZ?

They also come from different issuers: Invesco and TrueShares.